Japan issues FAQs on foreign SSA application amid non-adoption
Japan’s NTA clarifies tax treatment for foreign SSA adoption, reaffirming the use of existing transfer pricing rules. Japan’s National Tax Agency (NTA) issued FAQs addressing the Simplified and Streamlined Approach (SSA) on 30 June 2025, also
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Austria issues second set of FAQs on minimum taxation Act
 The FAQs on the Minimum Taxation Act provide detailed guidance on technical topics like prior-period income, joint ventures, mergers, and filing obligations. Austria’s Ministry of Finance published Part 2 of its FAQs on the Minimum Taxation
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Vietnam extends VAT reduction until 2026
The National Assembly has extended the 2% VAT cut for eligible goods and services from 1 July 2025 to 31 December 2026. Vietnam’s National Assembly passed Resolution No. 204/2025/QH15 on 17 June 2025, extending the reduced VAT rate of 8% (down
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Egypt amends VAT law to broaden tax base and target key sectors
The amended VAT law focuses on expanding the tax base, addressing sectoral imbalances, and improving fiscal sustainability, while maintaining the current VAT rate. Egypt’s House of Representatives approved a series of amendments to VAT Law
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Germany publishes revised DAC8 draft bill for crypto reporting
The updated draft of the DAC8 bill introduces new cryptocurrency reporting regulations in Germany, with the consultation period open until July 14. Germany's Ministry of Finance has released a revised draft bill for consultation to implement
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Bolivia further extends deadline for 2024 corporate tax statements and beneficial ownership reports
The corporate income tax (IUE) filing deadline for certain statements and reports has been extended to 21 July 2025. Bolivia’s National Tax Service (SIN) issued Resolution No. 102500000031 on 30 June 2025, further extending the deadline for
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Czech Republic gazettes new tax and penalty waiver rules
New rules allow tax authorities to waive penalties and obligations in cases of requests, legal irregularities, or emergencies like natural disasters. The Czech Republic has published Act No. 218/2025 in the Official Gazette on 30 June 2025,
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Finland: MoF consults on OECD-based PE profit attribution
The deadline to submit comments is 30 June 2025. Finland’s Ministry of Finance has opened a public consultation to amend three key tax laws: the Income Tax Act, the Act on Taxation of Business Income, and the Act on the Elimination of
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US to end electric vehicle tax credits on 30 September
The newly passed legislation will terminate the USD 7,500 tax credits for new EVs and USD 4,000 credits for used EVs by 30 September 2025. The US Congress approved the ‘One Big Beautiful Bill’ on 3 July 2024, which ends the USD $7,500 tax
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Canada announces legislation to ensure carbon rebates for small businesses are tax-free
The draft legislation ensures that all Canada Carbon Rebates for Small Businesses are provided tax-free. Canada's Department of Finance announced on 30 June 2025 that Carbon Rebates for small businesses will be tax-exempt, enabling eligible
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Norway proposes phased B2B e-invoicing and digital bookkeeping mandate
The deadline for sending feedback is 31 October 2025. Norway's Ministry of Finance has initiated a public consultation on 1 July 2025, regarding the proposed mandatory digital bookkeeping and B2B e-invoicing for all domestic and foreign entities
See MoreNorway issues list of non-cooperative tax jurisdictions
Norway's Ministry of Finance adopted a regulation listing non-cooperative tax jurisdictions to align with EU and EEA obligations. Norway’s Ministry of Finance adopted the Regulation on Non-Cooperative Jurisdictions for Tax Purposes, which
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China grants tax credit for reinvested dividends by foreign investors
A new corporate income tax credit for foreign investors reinvesting dividends from Chinese companies, retroactive from 1 January 2025 to 31 December 2028, offers a 10% credit to offset current-year tax payable. China's State Administration of
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Ukraine: Government approves 2026–2028 budget plan
Ukraine’s Cabinet approved the 2026–2028 Budget Declaration, outlining fiscal targets, wage adjustments, and EU-aligned reforms. The Ukrainian Council of Ministers approved the Budget Declaration for 2026–2028 through Decree No. 774 on 27
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UK: Treasury enacts cryptoasset reporting regulations
The Regulations implement OECD's Crypto-Asset Reporting Framework (CARF) and will come into force on 1 January 2026. The UK Treasury has enacted Regulations 2025 (SI 2025/744) on 24 June 2025; mandating UK reporting crypto asset service
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US: House Republicans pass ‘One Big Beautiful Bill’ through Congress
President Donald Trump's tax-cut legislation, dubbed "One Big Beautiful Bill," was narrowly approved by the House on 3 July, and is set to be signed into law on 4 July 2025. President Donald Trump's tax-cut legislation passed its final hurdle in
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US to impose 20% tariff on Vietnamese exports
The US will impose a 20% tariff on many Vietnamese exports, with trans-shipped goods facing 40%. President Donald Trump announced on 2 July 2025 that the US will apply a 20% tariff on many Vietnamese exports instead of the previously proposed
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Uzbekistan to refund 50% VAT to livestock and poultry farmers
Uzbekistan is offering a 50% VAT refund to livestock and poultry farms from April 2025 to January 2028 under Cabinet Resolution No. 362, aiming to boost domestic meat, milk, and egg production. Uzbekistan is implementing a 50% VAT refund for
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