Chile sets tax rates for mining SMEs
Chile's Internal Revenue Service (SII) has issued Resolution No. 33 of 13 March 2025, which sets new tax rates for small miners and SMEs involved in mining and selling gold and silver ores. The rates for small artisan miners using the simplified
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Mongolia considers draft bill to lower VATÂ
Mongolia’s Deputy Speaker B. Purevdorj and MPs Ch. Lodoisambuu, A. Undraa, and G. Uyankhishig proposed a bill on 13 January 2025 to reduce the VAT rate to 5%. This bill was first submitted in 2019 but was returned as it was not reviewed. The
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Italy: Council of Ministers approve tax reform adjustments, bans e-invoicing for healthcare professionals
Italy’s Council of Ministers have preliminarily approved a Legislative Decree with supplementary and corrective provisions to the recent tax reform on 13 March 2025. The provisions cover compliance, penalties, litigation, and the two-year
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Turkey raises minimum threshold for VAT refund claim
The government of Turkey has raised the minimum amount for value added tax (VAT) refund claims in cases involving reduced tax rates or exemptions, raising the minimum amount from TRY 2,000 to TRY 10,000. This announcement was published by the
See MoreMongolia announces VAT reforms for 2025
Mongolia’s government is drafting a new VAT Bill for 2025, which was submitted to the parliament. The new VAT bill proposes a simplified VAT system, higher registration thresholds, and faster input VAT recovery. The government has also launched
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Indonesia: Tax cuts lead to high palm oil exports
Indonesia's palm oil exports surged 62.2% in February 2025, reaching 2.06 million metric tons, the highest in four months, fueled by a reduction in export taxes. Palm oil is a crucial component in food products, cosmetics, and household items. It
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France introduces reforms to UCITS legal framework
The French government has issued Ordinance No. 2025-230 on 12 March 2025, introducing reforms to the legal framework for UCITS (Organismes de placement collectif, OPC). The measure aims to modernise and simplify regulations governing these
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Iceland joins CRS MCAA amendment
Iceland has signed the Addendum to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (Addendum to the CRS MCAA). The Addendum to the CRS MCAA introduces new data points for exchange under the
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Ecuador launches tax benefits to support women entrepreneurs
Ecuador has introduced a series of tax benefits to support female entrepreneurs with the enactment of the Organic Law for Promoting the Economy of Women Entrepreneurs, published in the Official Gazette on 10 March 2025. The law aims to reduce
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Netherlands announces 2024 Box 3 deemed return rates
The Netherlands published Regulation No. 2025-0000062971 in the Official Gazette on 14 March 2024, setting the deemed rates of return for Box 3 income for 2024. The Box 3 income comprises debts, savings, and investments. The rates for savings and
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Armenia: Parliament approves doubling gambling taxesÂ
Armenia’s parliament has approved higher tax rates on online casinos and bookmakers on 6 March 2025. Starting 1 April 2025, gambling tax rates per bet will double from 0.175% to 0.35% for online casinos and from 0.1% to 0.2% for
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Greece announces 2024 tax return deadlines
The Greek Public Revenue Authority (AADE) has announced the commencement of corporate and personal income tax return filing for the 2024 tax year. Corporate income tax returns: For businesses whose tax year ends on 31 December 2024:
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European Commission: March infringement package targets Spain on royalty withholding tax and capital gains tax issues
The European Commission has released its March infringements package: key decisions on 12 March 2025. The European Commission decided to refer Spain to the Court of Justice of the European Union for having failed to remedy an infringement in
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Brazil to tax overseas corporate profits
Brazil's government has proposed imposing a 10% tax on corporate profits and dividends sent abroad on 17 March 2025 to offset the revenue loss from expanding the tax exemption brackets for low-income individuals. According to the country's
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Saudi Arabia: ZATCA announces 21st e-invoicing integration phase
The Saudi Zakat, Tax, and Customs Authority (ZATCA) has outlined the criteria for the 21st phase of integration under the country’s new E-Invoicing (FATOORA) requirements. This announcement was made by ZATCA on 28 February 2025. This phase
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Denmark launches consultation on extending tax liability on interest from controlled debt
The Ministry of Taxation in Denmark has opened a consultation on a proposed bill to amend the rules regarding limited tax liability on interest from controlled debt on 12 March 2025. The bill targets interest payments made by foreign entities
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Singapore: IRAS introduces GST InvoiceNow requirement for e-invoicing
The Inland Revenue Authority of Singapore (IRAS) released a new edition of its e-Tax Guide, Adopting GST InvoiceNow Requirement for GST-Registered Businesses (First Edition), on 7 March 2025. This e-Tax Guide explains the requirement for
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Romania publishes guidance on VAT registration and RO e-invoice
Romania’s tax authority published a playbook on VAT registration and RO e-invoice requirements for public authorities on 7 March 2025. The playbook includes legal provisions regarding VAT registration of public institutions and RO e-invoice
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