Chile extends reduced tax rate for qualifying SMEs until 2028
The new law extends the reduced 12.5% rate through 2025-2027, with a 15% rate starting in 2028. Chile published Law No. 21755 in the Official Gazette on 11 July 2025, extending the temporary reduced corporate tax rate for qualifying SMEs under
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Colombia sets shareholder loan rate at 9.25% for 2025
 Colombia has lowered the deemed minimum interest rate on shareholder and partner loans to 9.25% for the 2025 tax year, down from 12.69% in 2024. Colombia’s Ministry of Finance has issued Decree No. 0771 on 7 July 2025, establishing a deemed
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Belgium issues clarification on 2026 B2B e-invoicing rules
The Decree mandates the use of structured e-invoicing for B2B transactions between VAT-registered taxpayers, starting in 2026. Belgium has published Decree of 8 July 2025 in the Official Gazette, mandating structured electronic invoicing
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Indonesia mandates income tax withholding by e-commerce and online platforms
The regulation introduces income tax withholding requirements for both domestic and foreign e-commerce and online marketplace operators. Indonesia's Ministry of Finance announced Regulation No. 37 of 11 June 2025 (PMK37/2025) on 14 July 2025,
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Slovak Republic adopts DAC8 law
The bill will take effect on 1 January 2026. The Slovak Republic has published a bill amending the Act on Automatic Exchange of Information on Financial Accounts for Tax Administration purposes in the Collection of Laws on 10 July 2025. This
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Costa Rica sets new rules for tobacco tax calculation
The regulations mandate procedures for calculating taxes on tobacco products to fund social welfare and ensure prior reporting of price and import data. Costa Rica’s tax administration (DGT) has published Resolution No. MH-DGT-RES-0008-2025 in
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Bolivia: National Tax Service announces corporate tax filing and payment deadline for industrial, construction, oil sectors
The deadline is for tax periods ending on 31 March 2025. Bolivia’s National Tax Service (SIN) announced on 11 July 2025, reminding taxpayers in the industrial, construction, and oil sectors that the deadline to file and pay corporate income
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Turkey issues updated 2025 tax guide on passenger vehicles
The guidance updates the tax rules for business-use passenger vehicles and sets limits on deductible expenses and depreciation for the 2025 fiscal year. Turkey’s Revenue Administration has published an updated guide on the tax treatment of
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Bangladesh, US to hold final tariff negotiations before August 25
Bangladesh and the US to hold final tariff negotiations next week to avert 35% export duty. Bangladesh will commence a third and final round of negotiations with the US next week to avert a 35% tariff on its exports, scheduled to take effect on 1
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Denmark updates DAC7 guidance for platform reporting obligations
Revised guidance outlines 2024 platform income reporting rules and updates for rental platforms. Denmark’s tax authorities have released revised guidance on implementing the Amending Directive to the 2011 Directive on Administrative Cooperation
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US: IRS exempts US-owned pass-throughs from international tax reporting
Starting in the 2024 tax year, domestically owned pass-through entities with only U.S. shareholders or partners are exempt from filing IRS international tax forms Schedule K-2 and K-3. The US Internal Revenue Service (IRS) issued updated guidance
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Taiwan issues CFC exemption guidelines for 2025 compliance
New guidance confirms Taiwan’s CFC exemption applies to entities with limited earnings or substantial operations. Taiwan’s Ministry of Finance has released a notice to specify the exemption limit for current-year income under the Controlled
See MoreBelgium extends 6% VAT rate for residential demolition and reconstruction pending legal implementation
Due to a delay in the approval of the reform law, the standard 21% VAT rate will apply from 1 July 2025, with a potential adjustment to 6% once the law is enacted. Belgium's Federal Public Service (SPF) Finance announced on 10 July 2025 that the
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EU warns of retaliation if US proceed with tariffs from August
Following a meeting in Brussels, EU foreign and trade ministers expressed frustration with Washington’s lack of agreement and signalled readiness to respond if negotiations break down. The European Union (EU) on 14 July 2025 warned that it may
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Argentina introduces special refund process for PAIS tax overpayments by importers
The first instalment will be available on 8 September 2025. Argentina’s tax authority (ARCA) introduced a special procedure for importers on 7 July 2025, allowing them to claim refunds for overpaid PAIS tax, which expired on 22 December
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Nigeria: FIRS enacts e-invoicing system for large taxpayers
Businesses with an annual turnover of NGN 5 billion or more are required to register for e-invoicing, effective August '25. Nigeria’s Federal Inland Revenue Service (FIRS) announced the launch of a national electronic invoicing (e-invoicing)
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Germany: Federal Council approves EUR 46 billion corporate tax relief planÂ
The law will be published in the Official Gazette and take effect the following day, except for R&D allowance amendments, which will come into effect on 1 January 2026. Germany’s Federal Council (Upper House of Parliament/Bundesrat) has
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Netherlands : Senate approves box 3 Rebuttal scheme
The Dutch Senate approved the Box 3 Rebuttal Scheme on 8 July 2025, allowing taxpayers to prove actual returns on savings and investments. The Dutch Senate approved the Box 3 Rebuttal scheme on 8 July 2025, allowing taxpayers to prove the actual
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