OECD: Secretary-General releases tax report to G20 finance leaders in South Africa
The Organisation for Economic Cooperation and Development (OECD) has published the Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors (G20 South Africa, February 2025) on 27 February 2025. This report sets out recent
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New Zealand seeks feedback on taxation of charities and NFPs in consultation paper
The New Zealand Inland Revenue published a consultation paper regarding the taxation of charitable and not-for-profit (NFP) organizations on 24 February 2025. New Zealand provides tax concessions to charities and not-for-profits (NFPs) to
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Denmark reviews draft bill on crypto-asset reporting
Denmark's parliament is reviewing draft bill L 151, submitted on 26 February 2025, to implement the EU's DAC8 directive. The bill introduces new reporting and due diligence requirements for crypto-asset service providers, aligning with the
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Korea (Rep): National Assembly approves K-Chips Act, expands tax incentives for semiconductor industry
The National Assembly of Korea (Rep.) approved a bill designed to support the semiconductor industry by offering increased tax incentives to chipmakers on Thursday, 27 February 2025. The updated Act on Restriction of Special Taxation, known as
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Italy publishes global minimum tax notification, withholding tax return form
Italy's Ministry of Finance released the withholding tax return form ‘Modello 770/2025’ and its instructions for fiscal year 2024 on 24 February 2025. The form was approved under Protocol No. 75896/2025. Eligible withholding agents and
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Ecuador establishes new mining annex reporting rule
Ecuador's Internal Revenue Service (SRI) has issued Resolution No. NAC-DGERCGC25-00000004 of 20 February 2025, outlining the rules for the new Mining Annex (Anexo Minero). The Annex collects data on metallic and non-metallic mineral exploration,
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Australia: ATO guide debunks common Division 7A misconceptions
The Australian Taxation Office (ATO) has published a guide aimed at clarifying Division 7A by dispelling common misconceptions. The ATO explains, the Division 7A is an integrity rule that prevents private company profits from being provided to
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US: IRS releases 2025 dirty dozen tax scams list
The US Internal Revenue Service (IRS), in a release IR-2025-26 on 27 February 2025, announced its annual Dirty Dozen list of tax scams for 2025 with a warning for taxpayers, businesses and tax professionals to watch out for common schemes that
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Brazil initiates pilot program for rewarding compliant taxpayers
Brazil has introduced the Receita Sintonia pilot program, established by RFB Ordinance No 511 of 19 February 2025, to encourage corporations and nonprofits to improve their tax compliance, reduce disputes, and improve transparency. The program
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EU Commission to recommend tax incentives for clean-tech sector
The European Commission (EC) released the "Communication on a Clean Industrial Deal" on 26 February 2025, confirming the EU’s climate goals by offering clear business incentives for industry to decarbonise within Europe. The focus will be
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Saudi Arabia releases draft real estate transaction tax regulations for public consultation
The Saudi Arabian Zakat, Tax, and Customs Authority (ZATCA) has released the draft regulations for the Real Estate Transaction Tax (RETT) for public consultation on 15 February 2025. The draft regulations update the rules for real estate
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Lithuania: Parliament proposes phased increase in VAT registration threshold
Lithuania’s parliament (Seimas) has recently proposed an alternative draft bill for the phased increase in the value-added tax (VAT) registration threshold, which would take effect on 23 February 2025. The current threshold of EUR 45,000 would
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Nigeria to launch pilot phase of e-invoicing system
Nigeria’s Federal Inland Revenue Service (FIRS) has initiated a stakeholder engagement on 18 February 2025 with large taxpayer groups to prepare for the upcoming pilot phase of the Merchant Buyer Solution, an e-invoicing system scheduled to launch
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Iceland issues guidance digital platform reporting rules
Iceland’s Revenue and Customs has released guidance on the country’s new reporting requirements for digital platforms. Effective 1 January 2025, these regulations mandate platforms to report income distributed to sellers. The first
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Poland proposes changes to DAC6 disclosure rules
Poland’s Ministry of Finance has proposed amendments to the mandatory disclosure rules (MDR) for potentially aggressive tax arrangements on 17 February 2025. The draft law aims to improve relations between taxpayers and tax authorities and
See MoreEU: Parliament Tax Subcommittee meets with European Commissioner for tax, Hoekstra regrets US stance on the global Pillar Two agreement
The European Parliament's Subcommittee on Tax Matters (FISC) has convened a public meeting with Wopke Hoekstra, the European Commissioner for Taxation, on 6 February 2025. The highlights of the meeting are as follows: Pillar
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Kazakhstan expands VAT exemption list for imported goods
Kazakhstan issued Order No. 11-1-4/83 on 18 February 2025, amending the previous Order No. 140 from 27 February 2018, which outlines the list of imported goods exempt from VAT under investment contracts. The updated list has been expanded from
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Chile clarifies foreign tax credit not covered by tax treaty
Chile’s tax authority (SII) has published Letter Ruling No. 369 on 14 February 2025 regarding foreign tax credits for taxes not covered by a treaty. The letter addresses whether a credit applies to US state taxes on income from technical
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