Australia: ATO issues draft guidance on Pillar Two filings
The consultation period for the draft guidance closes on 29 August 2025. The Australian Taxation Office (ATO) has issued draft guidance, PCG 2025/D3, on 16 July 2025Â detailing its transitional approach to Pillar Two filing obligations. This
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Chile issues VAT registration rules for foreign B2C sellers
The resolution introduces VAT registration for foreign sellers and platforms handling low-value B2C goods from October 2025. The Chilean tax authority SII) issued Resolution No. 84 on 10 July 2025, establishing registration procedures for foreign
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OECD reports to G20 on tax transparency and global minimum tax
The OECD has released the Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors, and Taking Stock of Progress on Transparency and Exchange of Information for Tax Purpose,s ahead of the G20 meeting held from 17 to 18 July
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Colombia clarifies tax on indirect transfers of free trade zone branches
The Ruling clarifies tax rules for indirect transfers of Free Trade Zone branches, excluding preferential rates. The Colombian tax authority (DIAN) issued Ruling 7858 int 924 on 18 June 2025, clarifying the taxation of indirect transfers
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Zambia announces broad tax reforms in 2025 budget
Zambia’s 2025 Budget introduces wide-ranging tax reforms across income, turnover, VAT, property transfer, and excise duties to boost revenue and compliance. Zambia has introduced a range of tax changes in its 2025 Budget, affecting income tax,
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Italy: Council of Ministers approves additional supplementary and corrective amendments to tax reform
The bill simplifies regulations, enhances transparency and fairness, revises the Taxpayer's Bill of Rights, and clarifies the self-assessment process with added sanctions. Italy’s Council of Ministers has preliminarily approved a Legislative
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US: IRS offers tax relief to New Mexico flood and storm victims
The tax filing and payment deadline has been extended to 2 February 2026 for New Mexico taxpayers. The US Internal Revenue Service (IRS) has issued NM-2025-03 on 16 July 2025, in which it announced tax relief for individuals and businesses in
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Australia: ATO issues guidance on GST treatment of container deposit scheme refunds
The ATO clarified that entities offering value in exchange for scheme refunds may be liable for GST. The Australian Taxation Office (ATO) issued guidance on 15 July 2025, regarding GST treatment for material recovery facility operators
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EU revises list of high-risk third countries for money laundering and terrorist financing
 The regulation goes into effect on 5 August 2025. The EU published the Commission Delegated Regulation (EU) 2025/1184 on 16 July 2025, updating Regulation 2016/1675 by revising the list of high-risk third countries with anti-money laundering
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EU publishes implementing regulation to facilitate automatic exchange of tax information under DAC9
The EU's implementing regulation under DAC9 aims to enable automatic information exchange between Member States through technical solutions. The European Commission has published the implementing regulation in the Official Journal of the EU
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Nigeria enacts law renaming FIRS to National Revenue Service (NRS)
The law aims to enhance tax compliance, increase revenue, and streamline administration to eliminate inefficiencies. Nigeria’s President Bola Tinubu signed the Nigeria Revenue Service (Establishment) Act, 2025 on 17 July 2025, which rebrands
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Poland: Senate approves bill to ease corporate tax rules
The legislation repeals the requirement for large corporate income taxpayers to publish a report on their executed tax strategy. Poland’s Senate passed two tax legislation amendments without changes on 17 July 2025. Corporate Income Tax
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Taiwan: MoF warns enterprises on timely CFC loss reporting
The finance ministry stated that CFC losses need supporting documents by the tax deadline, or they won’t be allowed. Taiwan’s Ministry of Finance (MOF) stated that CFC losses will be disallowed unless supporting documents are submitted by the
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Taiwan clarifies rules on foreign tax credit eligibility
Unclaimed treaty relief blocks foreign tax credit in Taiwan Taiwan’s Ministry of Finance has clarified that profit-seeking enterprises are not eligible to claim a foreign tax credit for excess taxes paid in treaty jurisdictions if they do not
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UAE clarifies VAT requirements on SWIFT charges for financial institutions
The Public Clarification outlines the VAT obligations and input tax documentation requirements for financial institutions incurring SWIFT-related interbank charges. The UAE Federal Tax Authority (FTA) issued Public Clarification VATP041 on 28
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Malaysia issues updated guidance on taxation of Malaysian ships
The Public Ruling updates the tax treatment and shipping income exemptions for qualifying Malaysian residents, replacing the 2012 edition. RegFollower Desk The Inland Revenue Board of Malaysia (IRBM) has issued Public Ruling No. 1/2025 on 15
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Romania: Parliament approves increases to VAT, bank levy, and dividend tax
The law introduces significant tax reforms, including increased VAT rates, a new reduced VAT rate, higher turnover tax for banks, and an increased dividend tax rate. Romania's parliament has passed the Law on certain fiscal-budget measures on 14
See MoreItaly: Council of Ministers approves draft VAT consolidation code
The new consolidated VAT law has been structured into 18 sections and 171 articles. Italy’s Council of Ministers, in a press release on 14 July 2025, has given preliminary approval to a Legislative Decree aimed at consolidating and reorganising
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