Mongolia: MLI instrument goes into effect on January 2025, announces direct and indirect tax measures
Mongolia has ratified the Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI) on 30 September 2024, which takes effect on 1 January 2025. As of February 2025, the Organisation for Economic
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Costa Rica: Tax Authority clarifies use of electronic invoices for imported goods
Costa Rica's Tax Authority has issued Private Letter Ruling No. MH-DGT-0006-2025 on 3 March 2025, clarifying the requirements for electronic invoices in relation to imports. For tangible goods purchased from non-resident suppliers, the standard
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Germany updates CbC Report exchange list, adds four new jurisdictions
The German Official Gazette (Bundesgesetzblatt) No. 64 published the Seventh Regulation Amending the Country-by-Country (CbC) Report Extension Regulation on 11 March 2025. This update revises the list of jurisdictions participating in the
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Albania extends tax incentives for tourism sector
Albania has introduced amendments to its tax incentive programme for the tourism sector, particularly for high-end accommodation facilities. These changes were enacted through Law No. 9/2025 and published in the Official Gazette on 26 February
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Poland clarifies DAC6 reporting rules for legally protected professional secrecy
Poland's Ministry of Finance issued a release on 12 March 2025 on reporting tax schemes under DAC6 mandatory disclosure rules in cases of professional secrecy. The Minister of Finance clarified that professionals, under national law, authorised
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European Commission proposes cutting VAT deductions for gas-powered fleet vehicles
The European Commission published a communication on 5 March 2025 outlining plans to decarbonise corporate fleets, which account for 60% of new car registrations in the EU. The communication mentioned that fleet operators can negotiate better
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Argentina introduces VAT and income tax withholding for mining
Argentina’s tax authority has issued General Resolution 5663/2025, which amends General Resolution 5333 on 10 March 2025. General Resolution No. 5333 introduced the "Fiscal Registry of Mining Activities," creating withholding regimes for
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US: CRS issues report on tax reform and itemised deductions
The US Congressional Research Services (CRS) published a new report on Selected Issues in Tax Reform: Itemized Deductions on 4 March 2025. The report analyses changes to itemised deductions under the Tax Cuts and Jobs Act (TCJA) through 2025 and
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Spain launches consultation on self-assessment of corporate tax returns
Spain’s tax authority is seeking public input on 5 March 2025 concerning a draft order and form to approve corporate tax and non-resident income tax declaration models for permanent establishments in Spain. The order introduces changes to the
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Canada: Ontario suspends 25% power surcharge following Trump’s tariff threat
Canadian province Ontario has suspended its 25% surcharge on electricity exports to the US after talks between US Commerce Secretary Howard Lutnick and Ontario Premier Doug Ford. The talks followed after President Donald Trump announced to raise
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Hungary: Tax Authority releases 2025 audit plan
Hungary’s National Tax and Customs Administration (NAV) has published its audit plan for 2025 on 11 March 2025, outlining priorities for tax, customs and law enforcement controls. The plan focuses on securing budget revenues through measures aimed
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European Commission responds to US steel, aluminium tariffs
The United States imposed tariffs of up to 25% on imports of steel, aluminium, and certain products containing steel and aluminium from the European Union and other trading partners On 12 March 2025. In response, the Commission is launching a series
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Taiwan: MoF issues statement on US Double-Tax Relief Act approval
Taiwan's Ministry of Finance ( MoF) issued a statement on 12 March 2025, welcoming the passage of the US-Taiwan Expedited Double-Tax Relief Act by the US House of Representatives on 15 January 2025 (local time). The 119th US Congress, which
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Singapore: IRAS issues Advance Ruling 4/2025 on trade status and tax implications
The Inland Revenue Authority of Singapore has issued Advance Ruling Summary No. 4/2025 on 3 March 2025 , addressing whether a company is engaged in trade or business or operates as a passive investment holding company, along with the associated
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UK: HMRC to close free online filing for company accounts and tax returns by March 2026
The UK tax authority, His Majesty's Revenue and Customs (HMRC) announced on 6 March 2025 that it will shut down its free company filing software. This service allowed businesses and agents to submit company accounts and tax returns to both HMRC and
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UAE: FTA urges natural persons to complete corporate tax registration
The UAE's Federal Tax Authority (FTA) issued a statement on 9 March 2025, urging individuals to register for corporate tax by the end of March 2025. The FTA emphasized that all natural persons subject to Corporate Tax must submit their Tax
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Estonia to cancel 2% security tax on corporate profits
The Estonian government is planning to cancel the 2% security tax on company profits, which was part of the Security Tax Act (512 SE) passed in December 2024. While the company tax may be canceled, it is still unclear what will happen with
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US: IRS confirms US-Bulgaria CbC exchange agreement
The IRS updated its Country-by-Country Reporting (CbCR) Jurisdiction Status Table on 11 March 2025, confirming that the competent authority arrangement between the US and Bulgaria became operative on 9 September 2024. Country-by-Country
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