Portugal extends VAT compliance deadlines due to tax portal disruptions
The Portuguese government has extended several VAT compliance deadlines under Order No. 78/2025 – XXIV on 6 May 2025, due to recent tax portal access issues caused by power outages in some EU countries and other network disruptions. The new
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OECD updates commentary on global anti-base erosion rules
The OECD has released an updated Consolidated Commentary on the Global Anti-Base Erosion Model Rules (2025) on 9 May 2025. This Consolidated Commentary incorporates Agreed Administrative Guidance that has been released by the Inclusive Framework
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Singapore: IRAS issues corporate tax filing guidance for YA 2025
The Inland Revenue Authority of Singapore (IRAS) has issued new guidance to assist companies with their obligations for the Corporate Income Tax Filing Season 2025 on 8 May 2025. Companies are required to file their Corporate Income Tax Return
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Ireland issues guidance on new corporate tax exemption for foreign distributions
The Irish Revenue Commissioners published Revenue eBrief No. 095/25 on 6 May 2025, which provides guidance on the corporate tax participation exemption for distributions received from foreign subsidiaries. This exemption applies from 1 January
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Costa Rica consults new tax penalty self-assessment form
Costa Rica’s tax administration (DGT) has released a draft resolution for public consultation on 2 May 2025, proposing major changes to self-assessment penalties for tax infractions. The resolution requires using the new TRIBU-CR platform to
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US: House Ways and Means Republicans unveil initial detailed tax plan, seeks to extend advantages for multinational corporations
The US House Ways and Means Committee Republicans revealed the first part of a tax package under budget reconciliation, focused on extending key elements of the 2017 Tax Cuts and Jobs Act (TCJA) on 9 May 2025. Alongside the committee print
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Poland: Council of Ministers adopts deregulation legislations
Poland's Ministry of Finance announced on 6 May 2025 that the Council of Ministers has adopted a number of draft laws that are part of the deregulation process. Draft corporate tax amendment act The proposal suggests removing the requirement
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Argentina: Senate ratifies BEPS MLI
Argentina's Senate approved the law to ratify the Multilateral Convention on Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI) on 7 May 2025. The Chamber of Deputies approved it in October 2024. Once the internal
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Belarus updates tax guidance for foreign permanent establishments
The Belarus Ministry of Taxes and Duties has published Letter No. 4-2-21/01461 of 18 April 2025 on taxing foreign organisations operating in Belarus through a permanent establishment. The letter replaces Letter No. 4-2-21/00850 of 20 March 2024, and
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Colombia: DIAN confirms temporary taxes to remain in effect despite end of state internal unrest
Colombia’s tax authority (DIAN) has confirmed that temporary taxes introduced under Decree 175 of 2025 will remain in effect until 31 December 2025, despite the end of the state of unrest in the Catatumbo region. These taxes include: 19%
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Dominican Republic: Tax Authority announces inflation adjustments measures for FY2025
The Dominican Republic's Tax Authority (DGII) has issued new inflation adjustment measures for the tax year ending on 31 March 2025. The adjustments, outlined in Resolution No. DDG-AR1-2025-00003, include key updates for both individuals and
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Mexico mandates select companies must also submit tax status report to National Housing Fund for Workers
Mexican taxpayers who are required, or have opted, to submit a tax audit report to the Tax Administration Service (SAT) for the 2024 fiscal year must also provide a copy of the corresponding tax situation report to the Institute of the National
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UAE: Federal Tax Authority clarifies reverse charge rules for precious metals, gemstones
The UAE Federal Tax Authority has released Public Clarification VATP043 on 30 April 2025, which addresses the application of the reverse charge mechanism for Value Added Tax (VAT) on transactions involving precious metals and precious stones between
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Oman introduces 10-year corporate tax exemption for SEZs, FZs
The Sultanate of Oman issued Royal Decree 38/2025, introducing a new law to govern Special Economic Zones (SEZs) and Free Zones (FZs) on 7 April 2025. It grants qualifying businesses a 10-year exemption from corporate income tax, with the
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UK expands list of tax-exempt government bonds
The UK Treasury published Order SI 2025/553 on 6 May 2025, adding more government bonds, also called "gilt-edged securities", to the list of investments exempt from capital gains tax and corporate tax. In the UK, government bonds are referred to
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Australia: ATO urges large taxpayers to submit annual GST supplementary return
The Australian Taxation Office (ATO) has issued a reminder about lodging a new supplementary annual GST return for large taxpayers on 8 May 2025. The return is required for those in the Top 100 and Top 1,000 Justified Trust Programs for GST
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Netherlands emissions authority accepting CBAM declarant applications from May 2025
The Netherlands' emissions authority (NEA) announced on 1 May 2025 the launch of a dedicated online portal for taxpayers to apply for CBAM authorised declarant status. The Carbon Border Adjustment Mechanism (CBAM) is an initiative introduced by
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Pakistan authorises tax authority to collect dues regardless of pending appeals, stay orders
Pakistan's Federal Board of Revenue has published the Tax Laws (Amendment) Ordinance 2025, enacted on 2 May 2025. A key amendment in the legislation authorises the tax authority to demand immediate tax payment, even if a stay is granted or an appeal
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