Singapore: IRAS revises GST filing guidance on error corrections and extension requests
IRAS updates GST filing guidance, outlining error corrections, refund claims, and deadlines for extensions. Singapore’s tax authority (IRAS) released revised instructions regarding the correction of errors in Goods and Services Tax (GST)
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Ghana: GRA to enact FED Act in early 2026Â
The GRA will fully enforce the Taxation (Use of Fiscal Electronic Device) Act 2018 by early 2026. The Ghana Revenue Authority (GRA) Commissioner-General announced on 15 August 2025 that it plans to fully implement and enforce the Taxation (Use of
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Slovak Republic plans digital services tax
The DST aims to generate EUR 30–100 million in revenue by taxing large multinational digital platforms and cloud services operating in the country, including Meta, Google, TikTok, Amazon, Netflix, and Microsoft. Slovak Republic’s State
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US: IRS, Treasury release FAQs for the accelerated termination of select OBBBA energy provisions
These FAQs provide guidance on several energy credits and deductions that are expiring under OBBBA and their termination dates. The US Internal Revenue Service (IRS) has released a fact sheet with FAQs (FS-2025-05) on 21 August 2025 to clarify
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Pakistan: FBR introduces withholding tax on domestic digital sales
The FBR introduced a 1–2% withholding tax on domestic digital sales via online marketplaces. Pakistan’s Federal Board of Revenue (FBR) issued Notification (Sales Tax) S.R.O. 1429(I)/2025 on 4 August 2025, establishing a new Chapter XIV-E in
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China: Finance Ministry consults on draft VAT law regulations
The new draft VAT law aligns with existing VAT policies while introducing key adjustments, organised into six chapters covering provisions, rates, payable taxes, incentives, administration, and supplementary rules. China's Ministry of Finance has
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Chile: SII issues circular on overdue tax fines for September 2025
Chile’s SII issued Circular No. 52-2025 on 14 August 2025, setting September 2025 tax readjustments, fines, and a 0.0222222222% daily late payment interest rate. The Chile’s Internal Revenue Service (SII) has issued Circular No. 52-2025  on
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UAE: FTA urges corporate taxpayers to file returns, pay within the specified deadlines
UAE’s Federal Tax Authority has urged corporate tax taxpayers to finalise records, file returns, and pay tax due by the deadlines, stressing compliance, early preparation, and use of the EmaraTax platform to avoid penalties. The Federal Tax
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Uruguay clarifies tax deductibility of directors’ fees
The tax administration confirms directors’ fees are fully deductible for corporate income tax, including amounts exempt from social security contributions. Uruguay’s Tax Administration (DGI) issued a clarification on 31 July 2025 confirming
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Sweden: Central Bank holds policy rate at 2.00%
Riksbank holds rate at 2% amid inflation pressures, signals possible cuts later in 2025 Sweden’s central bank, the Riksbank, held its policy rate at 2% on 21 August 2025, citing higher-than-expected inflation and weak economic growth. The
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Taiwan: MoF clarifies how to handle remaining labour retirement fund balances
The Ministry of Finance says leftover Labour Retirement Reserve funds must be reported as income when settled. Taiwan’s Ministry of Finance (MoF) has stated on 18 August 2025 that when a company is dissolved or has no employees eligible for
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South Africa: Treasury proposes strengthening anti-avoidance rules for hybrid equity instruments
South Africa proposes more rigid tax rules on hybrid equity instruments, expanding the scope and taxing dividends as income from 1 January 2026. The South African National Treasury has proposed changes to section 8E of the Income Tax Act to
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New Zealand: RBNZ cuts official cash rate to lowest level in three years
The Reserve Bank of New Zealand trimmed its official cash rate by 25 bps on 20 August 2025, signalling possible further cuts as economic growth stalls. The Reserve Bank of New Zealand (RBNZ) cut its official cash rate (OCR) by 25 basis points to
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Congo (DRC) introduces import tax to fund universal healthcare
Congo, DRC introduces import and payroll taxes to secure long-term funding for its universal healthcare program. The Democratic Republic of the Congo has introduced a 2% import tax on goods brought into the country. However, food and
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US: Treasury, IRS propose new reporting rules for partnership interest sales
Public comments are open until 18 September 2025. The US Department of the Treasury and the Internal Revenue Service (IRS) have proposed regulations modifying information reporting obligations with respect to sales or exchanges of certain
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Poland: MoF considers windfall profit tax on banking sectorÂ
Poland’s Finance and Economy Minister plans to introduce a windfall profits tax on banks, citing high profits driven by elevated interest rates from the National Bank of Poland. Poland’s Minister of Finance and Economy has announced plans to
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OECD updates rules on QIIR and QDMTT safe harbours
The OECD updated its central record of legislation, incorporating transitional qualified status, qualified income inclusion rules, qualified domestic minimum top-up tax rules, and QDMTT safe harbours. The OECD has updated its Central Record of
See MoreUS: IRS revises payment loss rules (DLP), extends transition relief for dual consolidated loss and GloBE model rules
Notice 2025-44 proposes the withdrawal of the disregarded payment loss (DPL) rules finalised in January 2025 and extending the transition relief for the interaction of dual consolidated loss (DCL) rules with the OECD/G20 BEPS GloBE model
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