Australia updates form, instructions for thin capitalisation test choice
The Australian Taxation Office (ATO) has updated its form and instructions for taxpayers on 13 February 2025, allowing individuals to select either the group ratio test or the third-party debt test (thin capitalisation test choice) for a specific
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World Bank: Survey of Corporate Tax Incentives for Green Growth
A World Bank blog published on 13 February 2025, written by Hania Kronfol, Eduardo Antonio and Jimenez Sandoval, assesses the use of corporate tax incentives to encourage environmentally friendly investment. The blog refers to a World Bank
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Turkey issues guide on income tax exemption for content creators and app developers
The Turkey’s Revenue Administration has issued a guide on income tax exemptions for social content creators and mobile app developers operating on online platforms. The guide explains key aspects of the exemption, including eligibility
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The Turkish Ministry of Treasury and Finance has released General Communiqué No. 579 on 8 January 2025, amending General Communiqué No. 452 on the Tax Procedure Law (TPL). The amendments introduce expanded documentation and reporting
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Luxembourg adopts bill on cross-border company rules
Luxembourg’s Chamber of Deputies approved a draft bill on 4 February 2025 implementing the EU directive on cross-border conversions, mergers, and divisions. The bill introduces common procedures, strengthens protections for employees,
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UK issues new alcohol duty regulations
The UK's tax authority, His Majesty's Revenue and Customs (HMRC) has published new regulations and updated guidance on alcohol duty, detailing implementation rules under the Finance (No. 2) Act 2023. The Alcohol Duty Regulations SI 2025/96,
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Peru extends reduced VAT rates for tourism sector Until 2027
Peru’s Congress has extended reduced VAT rates for hotels, restaurants, and tourist accommodations until 31 December 2027. The rates will remain at 8% for 2025 and 2026, before increasing to 12% in 2027. The measure, introduced under Law 32219,
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Colombia: DIAN confirms RUT does not expire, only updated for specific changes
Colombia’s National Tax Authority (DIAN) has confirmed that the Unique Tax Registry (RUT) remains valid indefinitely and only needs to be updated if a taxpayer changes their residence, phone number, email, economic activity, tax obligations, or
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Russia exempts CFC profits from IHC tax base until 2029
Russia’s Ministry of Finance has clarified that international holding companies are not required to include the profits of their controlled foreign companies (CFCs) in their corporate income tax base for tax periods ending before 1 January
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Switzerland issues final VAT guidelines for e-commerce platforms
The Swiss Federal Tax Administration (FTA) issued final guidelines on 28 January 2025, concerning platform rules for goods. Under the new Article 20a of the VAT Act, platforms that enable transactions through electronic interfaces will be deemed
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UK Public Accounts Committee highlights underestimated tax evasion costs
The UK Parliament's Public Accounts Committee has published a report on 12 February 2025 cautioning that the actual cost of tax evasion is probably being underestimated. HMRC not sufficiently curious on true scale of evasion, with no strategy for
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Greece: Finance Minister unveils draft law to strengthen capital market and attract investments
The Greece Minister of National Economy and Finance, Kostis Hatzidakis, presented the draft law for the Strengthening of the Capital Market, which was recently approved by the Cabinet. This announcement was made by Greece National Economy and
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India: CBDT releases details on Income Tax Bill 2025
India's Central Board of Direct Taxes (CBDT) has released details about the Income Tax Bill 2025 , which was presented in parliament on 13 February 2025. Earlier, the Indian Union Cabinet approved the Income Tax Bill 2025, which will supersede
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Saudi Arabia issues advance pricing agreement guidelines
Saudi Arabia’s Zakat, Tax and Customs Authority has released guidelines for its new advance pricing agreement (APA) regime. According to the guidance from the Zakat, Tax and Customs Authority, the program "will not process Bilateral and
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Sweden reviews DAC9 implementation for EU tax reporting
Sweden’s Ministry of Finance released a memorandum on 2 December 2024, outlining proposed changes to the Directive on Administrative Cooperation (DAC9) to streamline multinational enterprises' tax reporting under the EU Minimum Taxation Directive
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Vietnam: National Assembly approves extension of environmental protection tax cut on petrol, oil and lubricants
The Standing Committee of Vietnam's National Assembly approved an extension of the environmental protection tax reduction on gasoline, oil, and lubricants until 31 December 2025. The decision was made on 11 January 2025, through Resolution
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Belgium announces modernisation of VAT rules
Belgium has issued Guidance (Circular 2025/C/6) on 27 January 2025, announcing various updates to the VAT rules by modernising procedures, compliance, and refunds. The key changes include new deadlines for periodic and special VAT returns, VAT
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Costa Rica extends deadline for e-invoicing changes
Costa Rica’s Ministry of Finance has announced in bulletin CP-08-2025 of 11 February 2025, that the deadline to implement amendments to electronic invoices (e-invoices) version 4.4 under resolution MH-DGT-RES-0027-2024 has been extended to 1
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