Oman: Tax Authority reminds taxpayers of return filing deadlines
The Oman Tax Authority has reminded taxpayers subject to income tax with a fiscal year ending on 31 December 2024 to file their tax returns and pay their tax dues as follows: Establishments subject to 3% income tax must file by 30 March 2025.
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OECD releases statement on outcomes of 17th inclusive framework meeting held on 7-10 April
The OECD released a public statement summarizing the key outcomes of the 17th plenary meeting of the OECD/G20 Inclusive Framework on BEPS, which took place from 7-10 April 2025 in Cape Town, South Africa. Domestic tax base erosion and profit
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US: IRS announces over USD 1 billion in 2021 in unclaimed tax refunds, requests taxpayers to check their eligibility
The US Internal Revenue Service (IRS) issued IR-2025-46 on 11 April 2025, reminding the 1.1 million people who didn’t file their tax year 2021 federal tax returns that they may be eligible for a refund if they file by the 15 April 2025
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US: Trump overturns digital asset reporting regulations
US President Donald Trump signed into law H.J.Res.25 (Congressional Review Act Disapproval Resolution on Cryptocurrency Broker Reporting from the IRS) on 10 April 2025, a joint resolution of disapproval aimed at overturning the final regulations
See MoreUS: IRS offers tax relief for storm affected taxpayers in Arkansas and Tennessee
The US Internal Revenue Service (IRS) has issued IR-2025-49 (Arkansas) and IR-2025-47 (Tennessee) on 14 April 2025, announcing tax relief for individuals and businesses in Arkansas and Tennessee impacted by the severe storms, tornadoes, and flooding
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Kenya reduces market rates for fringe benefit tax, non-resident loans
The Kenya Revenue Authority released a public notice on 8 April 2025 regarding updates to the market interest rate for fringe benefit tax and the deemed interest rate on specific non-resident loans. Effective for April, May, and June 2025, the
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Australia: ATO halts tax deductions for general and shortfall interest charges
The Australian Taxation Office (ATO) has issued a notice denying deductions for general interest charges (GIC) and shortfall interest charges (SIC) from 1 July 2025 for late or outstanding tax payments, covering income years before and after this
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US: IRS updates practice unit on deductions and credits for late corporate tax returns
The US Internal Revenue Service (IRS) has released an updated practice unit on the Allowance of Deductions and Credits for 1120-F Delinquent Returns on 25 March 2025. Form 1120-F serves as the US income tax return specifically for foreign
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EU: Council adopts DAC9 to support Pillar Two filings
The Council of the EU announced on 14 April 2025 the formal adoption of changes to the Directive on administrative cooperation in taxation (Directive 2011/16/EU) to simplify filing obligations under the Pillar 2 Directive (DAC9). The directive
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Taiwan extends deadline for tax treaty benefit applications
Taiwan’s Ministry of Finance has announced an extension to the application deadline for claiming tax treaty (agreement) benefits on 10 April 2025. The Ministry of Finance promulgated the amendments to Article 34 of the "Regulations Governing
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Malawi: Parliament passes 2025-26 budget with corporate tax cut for permanent establishments
Malawi's Parliament approved the 2025-26 Budget on 26 March 2025, with several tax measures. The 2025-26 budget is estimated at MWK 8.08 trillion. The initial estimated MWK 8.5 trillion budget was adjusted before final approval. The main tax
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Denmark updates list of jurisdictions for automatic exchange of financial information
Denmark issued Executive Order No. 366 on 7 April 2025 , published in Official Gazette A on 9 April 2025. This order updates the list of jurisdictions that participate in the automatic exchange of financial account information, in line with
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European Commission adopts updated regulation to enforce DAC7
The European Commission (EC) has adopted Implementing Regulation 2025/648 of 2 April 2025, introducing changes to Implementing Regulation 2015/2378, as regards the standard forms and computerised formats to be used for the mandatory automatic
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Paraguay announces extension for 2024 financial statement submissions
Paraguay's National Directorate of Tax Revenues (DNIT) has issued General Resolution DNIT No. 29/25, which extends the deadline for corporate taxpayers (IRE) to submit financial statements for the fiscal year ending 31 December 2024. The new
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Norway: Parliament approves new reporting rules for digital platforms
Norway’s parliament has approved the government proposal to introduce new reporting requirements for digital platforms on 4 April 2025. These proposals align with the OECD Model Rules for Reporting by Platform Operators and the Multilateral
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Uruguay extends tax incentives for large construction projects to 2025
Uruguay has issued Decree No. 85/025 on 2 April 2025, extending the tax benefits for large investment projects in construction and urban development. These incentives were first introduced in 2020 under Decree No. 138/020 as part of measures to
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Chile sets tax rates for SMEs in the copper mining industry
Chile's Internal Revenue Service (SII) has issued Circular No. 24 of 28 March 2025, setting new tax rates for small artisan miners and SMEs involved in copper mining and sales. Small artisan miners tax rates For small artisan miners using the
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Singapore: IRAS issues updated guidance on globe rules and domestic top-up tax
The Inland Revenue Authority of Singapore (IRAS) has published new presentations offering guidance on the Global Anti-Base Erosion (GloBE) Rules and the Domestic Top-up Tax (DTT) on 8 April 2025. The first module focuses on the scope and charging
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