France delays VAT exemption threshold cut to 2026 after consultations
The French government has postponed the planned reduction of the domestic VAT exemption threshold for small businesses until 2026, following public consultations. The Finance Law for 2025 had originally set the new threshold at EUR 25,000 from 1
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Ukraine: Government approves draft law on international exchange of information for income earned via digital platforms
The Ukrainian government approved a draft law introducing new rules for reporting and exchanging information on income earned through digital platforms on 29 April 2025. The proposed measures align with the OECD Model Rules and the EU’s DAC7
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South Africa: SARS lowers interest rates on unpaid taxes and overpaid amounts
The South African Revenue Service (SARS) has released updated interest rate tables effective from 1 May 2025. Interest rates charged in terms of the legislation administered by SARS are split into three main categories, namely – interest
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UAE issues VAT guidance on valuation of barter transactions
The UAE Federal Tax Authority issued VAT Public Clarification VATP042, providing guidance on determining the value of supply in barter transactions on 29 April 2025. In general, taxable persons receive monetary consideration for the supplies they
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Pakistan extends e-invoicing deadline for sales tax registrants
The Federal Board of Revenue (FBR) of Pakistan has announced a one-month extension for sales tax-registered individuals to link their hardware and software with the FBR’s digital system and begin electronic transmission of invoices on 30 April
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US: New Jersey launches mediation pilot program for corporate sales and tax disputes
The New Jersey Division of Taxation is launching a two-year pilot mediation program on 1 October 2025. The Pilot is set to run for 24 months from 1 October 2025 to 30 September 2027. The program is open to all business entities involved in
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Costa Rica increases fuel tax
Costa Rica’s Ministry of Finance has announced a 0.03% increase in the single tax rate on fuels, as mandated by Law 8.114 of 2001. This tax is applied at fixed rates per litre based on the type of fuel. However, despite this adjustment, the
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Nigeria introduces e-invoicing platform to curb tax evasion
Nigeria's Federal Inland Revenue Service (FIRS) has launched a new e-invoicing platform, the Merchant Buyer Solution (eInvoice), alongside the National Electronic Invoicing Inter-Agency Steering Committee on 29 April 2025. The rollout is phased,
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Netherlands scraps plastic tax, considers higher waste tax
The Dutch government has reportedly scrapped its plans to introduce a polymer levy (polymerenheffing) or the plastic tax. Cancelling the tax will cause a EUR 567 million budget loss, which will likely be offset by raising the waste tax rate and
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Austria: Budget Accompanying Act 2025 awaits parliamentary approval, proposes amendments to VAT, income taxes amongst others
Austria’s Ministry of Finance (BMF) has released the draft Budget Accompanying Act 2025 (BBG 2025) on 2 May 2025. The Budget Accompanying Act 2025 is presently awaiting parliamentary approval. The proposed key tax measures include amendments to
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Taiwan: Legislative Yuan approves expanded tax incentives for AI, green tech, startups
Taiwan's Legislative Yuan has approved amendments to the Statute for Industrial Innovation, increasing tax incentives for investments in artificial intelligence (AI), carbon emission reduction technologies, and startups on 18 April 2025. The
See MoreNetherlands advances to close tax-free annuity loophole in new omnibus tax bill
The Netherlands State Secretary for Finance has submitted the 2026 Omnibus Tax Bill to Parliament for approval. The Ministry of Finance has published both the bill and its accompanying explanatory memorandum on 25 April 2025. This legislation
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Singapore issues advance ruling on taxable presence for companies selling locally manufactured goods
The Inland Revenue Authority of Singapore (IRAS) has released Advance Ruling Summary No. 5/2025 on 2 May 2025, addressing whether a company establishes a taxable presence in Singapore through the sale of locally produced goods to Singaporean
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Turkey extends VAT exemption for construction under incentive certificates
Turkey has extended a VAT exemption for construction activities in the manufacturing and tourism sectors, under Presidential Decision No. 9770 issued on 30 April 2025, which was published in the Official Gazette on 1 May 2025 (No. 32887). The
See MoreUAE: FTA removes fines for delayed corporate tax registration
The UAE’s Federal Tax Authority (FTA) has introduced a new initiative allowing businesses to have administrative penalties waived or refunded for late corporate tax registration on 2 May 2025, provided certain conditions are met. To qualify,
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US: IRS offers tax relief to Virginia storm victims
The US Internal Revenue Service (IRS) in a release VA-2025-03 on 30 April 2025 announced today tax relief for individuals and businesses in parts of Virginia affected by severe winter storms and flooding that began on 10 February 2025. These
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Belgium unveils tax reforms, includes tighter exemptions, broader exit tax
The Belgian government has presented an overview of its tax reforms to the parliament on 24 April 2025. This follows after Belgium’s five political parties agreed on a coalition government program on 31 January 2025, outlining various tax
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US: Trump proposes USD 163 billion in federal budget cuts for 2026
The Trump administration has proposed USD 163 billion budgetary cuts for the 2026 federal budget on Friday, 2 May 2025. The federal budget drastically reduces spending on education, housing, and medical research while increasing funding for
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