OECD consults on copper transfer pricing framework
Comments are due by 5 September 2025. The OECD has initiated a public consultation on a transfer pricing framework for copper on 10 July 2025. The comment submission deadline is set for 5 September 2025. Determining the Price of Minerals: A
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US: IRS withdraws final rule on digital asset reporting
The final rule stated that it became effective on 28 February 2025. The US Internal Revenue Service (IRS) has issued a final rule revoking its December 2024 rule on "Gross Proceeds Reporting by Brokers that Regularly Provide Services
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Chile sets rules for digital platforms to verify users’ tax registration and compliance
Chilean digital payment platforms must ensure users report business activity to the SII, starting 1 October 2025. Chile’s tax authority (SII) has published Resolution Ex. 79-2025 on the SII's website on 26 June 2025. This regulation
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Italy clarifies VAT split-payment exemption effective date for listed companies
Italy has abolished the VAT split-payment system for FTSE MIB-listed companies, effective 1 July 2025. Italy has abolished the VAT split-payment system requirement for companies listed on the FTSE MIB index, as per Decree-Law No. 84 of 17 June
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Belgium: Government submits tax reform proposals to parliament, includes investment gains tax, participation exemptionÂ
Key proposals include a 5% capital gains tax, a participation exemption for group contributions, revised deductions, and revised statute of limitations rules. Belgium’s Chamber of Deputies is reviewing a draft law submitted on 3 July 2025 to
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Uganda enacts 2025–26 budget measures
The changes took effect on 1 July 2025. Ugandan President Yoweri Museveni signed several tax amendment bills into law to implement the tax measures of the 2025-2026 Budget on 30 June 2025. The newly signed laws include the Value Added Tax
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Tanzania enacts 2025-26 budget measures, includes new transfer pricing penalty
The measures will apply from 1 July 2025, unless otherwise specified. Tanzania's Finance Act 2025 was enacted on 30 June 2025, implementing tax measures from the 2025-26 Budget Speech with some adjustments to the initially announced
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Spain announces 2024 VAT refund deadline
Spanish and EU businesses have until 30 September 2025 to claim VAT and IGIC refunds for 2024, subject to applicable procedures and reciprocity conditions. Spanish companies and foreign businesses have until 30 September 2025 to claim refunds for
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Ecuador clarifies tax exemption rules for share transfers
The Circular clarified income tax rules and filing obligations for share transfers and corporate restructurings. Ecuador’s Internal Revenue Service (SRI) issued Circular No. NAC-DGECCGC25-00000005 on 30 June 2025, clarifying income tax rules
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Singapore: IRAS releases 8th edition guide on additional conveyance duties
This guide outlines the Additional Conveyance Duties (ACD) introduced on 11 March 2017, covering their treatment and calculation for acquiring or disposing of equity interests in property-holding entities (PHEs) primarily owning Singapore
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Brazil: AGU appeals suspension of financial transaction tax hike
The AGU argues that the Executive Branch has constitutional authority to adjust IOF rates and claims the National Congress violated the separation of powers by suspending presidential decrees. Brazil's Attorney General's Office (AGU) appealed to
See MoreUS: IRS updates 2025 inflation adjustment and reference price for renewable energy credit
The IRS set the inflation adjustment factor for the Renewable Electricity Production Credit (REPC) at 1.9971 and the reference price for wind-generated electricity at USD 0.031 per kilowatt hour for the 2025 tax year. The US Internal Revenue
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Belgium revises CRS list, adds Armenia and Uganda
The updated CRS exchange list for 2024 now includes Armenia and Uganda. Belgium’s government has published the Royal Decree of 2 July 2025 in Official Gazette No. 2025004947 of 8 July 2025. The Royal Decree updates the list of jurisdictions
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Netherlands submits draft bill for DAC8 implementation to parliament
The initial reporting of information is required by 31 January 2027, concerning the year 2026. The Netherlands Ministry of Finance notified the House of Representatives on 7 July 2025, regarding the submission of a draft bill to implement Council
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Poland gazettes Act increasing VAT exemption thresholdÂ
The Act increases the VAT exemption threshold from PLN 200,000 to PLN 240,000 from 2026. Poland published the Act of 24 June 2025 in the Official Gazette on 7 July 2025, raising the VAT exemption threshold from PLN 200,000 to PLN 240,000,
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Bulgaria to adopt the euro from 2026
Bulgaria will adopt the euro starting 1 January 2026, replacing the lev at a fixed rate after meeting EU criteria. Bulgaria will officially adopt the euro as its currency on 1 January 2026, becoming the 21st member of the eurozone. The decision
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Japan, Iran Customs Mutual Assistance Agreement enters into force
Japan and Iran’s Customs Mutual Assistance Agreement entered into force on 18 June 2025, following its signing on 22 August 2021. The Customs Mutual Assistance Agreement (CMAA) between Japan and Iran entered into force on 18 June 2025. This
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Denmark and Italy sign OECD agreement on automatic exchange of digital platform income data
Denmark and Italy have joined the OECD’s DPI-MCAA to automatically exchange tax data on income earned through digital platforms, supporting improved compliance in the digital economy. Denmark and Italy have signed the Multilateral Competent
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