UAE: FTA urges corporate taxpayers to file returns, pay within the specified deadlines
UAE’s Federal Tax Authority has urged corporate tax taxpayers to finalise records, file returns, and pay tax due by the deadlines, stressing compliance, early preparation, and use of the EmaraTax platform to avoid penalties. The Federal Tax
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Uruguay clarifies tax deductibility of directors’ fees
The tax administration confirms directors’ fees are fully deductible for corporate income tax, including amounts exempt from social security contributions. Uruguay’s Tax Administration (DGI) issued a clarification on 31 July 2025 confirming
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Sweden: Central Bank holds policy rate at 2.00%
Riksbank holds rate at 2% amid inflation pressures, signals possible cuts later in 2025 Sweden’s central bank, the Riksbank, held its policy rate at 2% on 21 August 2025, citing higher-than-expected inflation and weak economic growth. The
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Taiwan: MoF clarifies how to handle remaining labour retirement fund balances
The Ministry of Finance says leftover Labour Retirement Reserve funds must be reported as income when settled. Taiwan’s Ministry of Finance (MoF) has stated on 18 August 2025 that when a company is dissolved or has no employees eligible for
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South Africa: Treasury proposes strengthening anti-avoidance rules for hybrid equity instruments
South Africa proposes more rigid tax rules on hybrid equity instruments, expanding the scope and taxing dividends as income from 1 January 2026. The South African National Treasury has proposed changes to section 8E of the Income Tax Act to
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New Zealand: RBNZ cuts official cash rate to lowest level in three years
The Reserve Bank of New Zealand trimmed its official cash rate by 25 bps on 20 August 2025, signalling possible further cuts as economic growth stalls. The Reserve Bank of New Zealand (RBNZ) cut its official cash rate (OCR) by 25 basis points to
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Congo (DRC) introduces import tax to fund universal healthcare
Congo, DRC introduces import and payroll taxes to secure long-term funding for its universal healthcare program. The Democratic Republic of the Congo has introduced a 2% import tax on goods brought into the country. However, food and
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US: Treasury, IRS propose new reporting rules for partnership interest sales
Public comments are open until 18 September 2025. The US Department of the Treasury and the Internal Revenue Service (IRS) have proposed regulations modifying information reporting obligations with respect to sales or exchanges of certain
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Poland: MoF considers windfall profit tax on banking sector
Poland’s Finance and Economy Minister plans to introduce a windfall profits tax on banks, citing high profits driven by elevated interest rates from the National Bank of Poland. Poland’s Minister of Finance and Economy has announced plans to
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OECD updates rules on QIIR and QDMTT safe harbours
The OECD updated its central record of legislation, incorporating transitional qualified status, qualified income inclusion rules, qualified domestic minimum top-up tax rules, and QDMTT safe harbours. The OECD has updated its Central Record of
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US: IRS revises payment loss rules (DLP), extends transition relief for dual consolidated loss and GloBE model rules
Notice 2025-44 proposes the withdrawal of the disregarded payment loss (DPL) rules finalised in January 2025 and extending the transition relief for the interaction of dual consolidated loss (DCL) rules with the OECD/G20 BEPS GloBE model
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Australia: ATO issues final compliance guideline on restructures and updated thin capitalisation rules
This guideline outlines ATO’s practical compliance approach for restructures undertaken in response to the new thin capitalisation and debt deduction creation rules (DDCR). The Australian Taxation Office (ATO) has published the final
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Ireland: Irish Revenue updates Pillar Two guidance
The updated guidance outlines Pillar Two registration, filing, and top-up tax requirements for MNEs. Irish Revenue published updated guidance on Pillar Two requirements on 14 August 2025, covering an overview of Pillar Two, registration
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Indonesia: Central Bank cuts interest rate to 5.00%
This marks the fifth rate cut since September 2022, bringing rates down by a total of 125 basis points to their lowest level since late 2022. Indonesia’s central bank, Bank Indonesia (BI), announced it has cut its benchmark interest rate by 25
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Brazil: Chamber of Deputies considers introduction of digital social contribution
The CSD would apply to digital advertising services using user data and the sale or transfer of data generated by Brazilian users or collected in Brazil. The aim is to tax revenue derived from the use of Brazilian users’ data. Brazil’s
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Sweden: Ministry of Finance proposes amendments to global minimum tax rules
The draft legislation aligns Sweden’s Top-up Tax Act with new OECD guidance and EU rules on global minimum taxation. Sweden’s Ministry of Finance published draft legislation on 14 August 2025 to amend Act (2023:875) on top-up tax for
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Dominican Republic: DGII extends 2024 FATCA reporting deadline
This extension is intended to ensure full adherence to the Intergovernmental Agreement (IGA) signed between the US and the Dominican Republic in September 2016, which governs FATCA implementation in the country. The Dominican Republic tax
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US rejects IMO proposal for global shipping emissions tax
A joint statement criticises the proposal as a “global carbon tax on Americans” imposed by an unaccountable UN body, which warns of potential retaliation or remedies against supporting countries if US efforts to oppose the framework are
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