OECD updates 2025 globe rules commentary with new Annex B for global minimum tax
The OECD/G20 Inclusive Framework on BEPS issued an updated consolidated commentary to the global Anti-Base Erosion Model Rules, part of Pillar Two of the Inclusive Framework’s Two-Pillar Solution, on 9 May 2025. The 2025 edition expands
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Peru: SUNAT revises digital services definition, excludes human-driven support from withholding tax rules
Peru’s tax authority (SUNAT) updated its guidance on digital services in Report No.46-2025 issued on 29 April 2025. The updated report was made publicly available on 8 May 2025. It reversed its earlier 2024 position that classified online
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Taiwan allows foreign residents to file income tax online without household registration
Taiwan’s Ministry of Finance announced that foreign nationals who stay in the country for at least 183 days within a taxable year are considered residents of Taiwan for tax purposes, even without household registration, and are eligible to file
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Italy: Council of Ministers approves draft decree on local taxes and fiscal federalism
Italy’s Council of Ministers has approved a draft Legislative Decree on 9 May 2025, introducing measures on local taxes and regional fiscal federalism as part of a tax reform. The Decree introduces greater fiscal autonomy for territorial
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Brazil delists UAE and Austrian holding regime from low-tax jurisdiction and privileged tax regime
Brazil’s Federal Revenue Service (RFB) has published the Normative Instruction No. 2,265/2025 in the Official Gazette on 13 May 2025, in which it removed the UAE from the list of low-tax jurisdictions and the Austrian holding company regime (for
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Australia: Victoria proposes extension of off-the-plan stamp duty concession
Australia’s Victorian government announced on 14 May 2025 that it will extend its stamp duty concession for eligible “off-the-plan” homes for another 12 months. The Victorian Budget 2025-26 will invest AUD 61 million to slash stamp duty for
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EU council approves draft directive holding foreign traders and platforms liable for import VAT
The EU Economic and Financial Affairs Council (ECOFIN) agreed on a draft directive on 13 May 2025, introducing new VAT rules for distance sales of imported goods and import VAT. The new rules seek to improve the VAT collection on imported goods
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Argentina postpones tax hike on liquid fuel, carbon dioxide
Argentina’s government has postponed the scheduled tax increases on liquid fuels and carbon dioxide through Decree 296/2025, which was published in the Official Gazette on 30 April 2025. This decree delays the hiked tax rates until 1 June
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Chile announces new VAT guidance for marketplaces and low-value goods
Chile’s tax authority (SII) has issued Circular No. 38/2025 and Circular No. 39/2025 on 30 April 2025, which implemented last year’s tax reform, including VAT marketplace rules, low-value goods rules, and marketplace compliance
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Australia: Northern Territory presents tax measures for 2025 budget
Australia’s Northern Territory (NT) newly elected Country Liberal Party has presented its 2025-26 budget for the province on 13 May 2025. Chief Minister Lia Finocchiaro and Treasurer Bill Yan have emphasised key priorities in the budget,
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Portugal extends 2024 CIT, property tax deadlines due to power outage
Portugal’s Tax and Customs Authority has issued Order No. 79/2025 - XXIV on 8 May 2025, extending key tax deadlines due to the recent large-scale power outage affecting Portugal, France, and Spain. The filing deadline for the 2024 annual
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Philippines issues VAT guidelines for cross-border digital services
The Philippines Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 47-2025 on 9 May 2025, offering guidance through FAQs on applying VAT to cross-border digital services. The Circular also states that nonresident providers of
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Poland plans new e-receipt rules from July 2025
Poland plans to introduce new cash register regulations from 1 July 2025, allowing businesses to issue electronic receipts (e-receipts) from traditional and software-based cash registers, provided the customer consents. The planned changes follow
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Denmark: New digital bookkeeping rules for VAT-registered entities from January 2026
The Danish Business Authority announced new rules under the Danish Bookkeeping Act that require companies to use digital bookkeeping systems capable of handling e-invoices, starting 1 January 2025. From 1 January 2026, this will also apply to all
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Jamaica: Cabinet approves 20% expanded duty concession for agricultural vehicles
Jamaica’s Cabinet has approved the expansion of the 20% duty concession for agricultural vehicles on 9 April 2025. Minister of Agriculture, Fisheries and Mining, Floyd Green, announced this during the post-cabinet press briefing at Jamaica
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Singapore issues guidance on key GST audit focus areas and compliance risks
The Inland Revenue Authority of Singapore (IRAS) has released guidance on the key areas of GST compliance audits, outlining the consequences of non-compliance on 13 May 2025. Current Areas of Audits GST is a self-assessed tax. IRAS conducts
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Mozambique updates procedures for monthly VAT invoice reporting
Mozambique’s tax authority (MTA) announced on 27 March 2025 that VAT taxpayers must submit a certified monthly invoice data file via its electronic declaration website, starting May 2025. The VAT invoice file must include party details,
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US: House Ways and Means Committee releases tax provision summary for budget reconciliation, amends earlier recommendations
The US House Ways and Means Committee released a Description of Tax Provisions related to budget reconciliation recommendations, including proposals to extend key provisions of the 2017 Tax Cuts and Jobs Act (TCJA) and other reforms on 12 May
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