Egypt: ETA mandates e-receipts for taxpayers in new regulation
The Egyptian Tax Authority (ETA) announced a new requirement for taxpayers to issue electronic receipts (e-receipts) for transactions with final consumers on 9 January 2025. E-receipts, or electronic receipts, serve as proof of payment and are
See More
France: Tax Authority clarify foreign tax credit rules
The French tax authority issued a ruling addressing the availability of foreign tax credits (FTCs) in cases where foreign withholding taxes conflict with the provisions of a relevant tax treaty on 18 December 2024. Under French law, FTCs are only
See More
Taiwan: Ministry of Finance warns of penalties for underreporting income despite no tax due
Taiwan's Ministry of Finance has clarified that enterprises will be penalized for failing to report or underreporting income, even if no tax liability exists. This announcement was made by the Taiwan Ministry of Finance on 2 January
See More
Singapore: IRAS publishes FAQs on spontaneous exchange of tax information
The Inland Revenue Authority of Singapore ( IRAS) has released a set of Frequently Asked Questions (FAQs) regarding the Spontaneous Exchange of Information on 1 January 2025. Â Â Â Why did Singapore commit to the spontaneous exchange of
See More
Greece expands debt relief and VAT policies amid economic reforms
The Greek Ministry of National Economy and Finance announced changes to its debt relief framework, aiming to provide stronger protection for thousands of borrowers. The initiatives announced on 5 February 2025 expand the scope of the
See More
UAE introduces domestic minimum top-up tax for multinational enterprises
The UAE Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on the introduction of the Top-up Tax for Multinational Enterprises, providing further details on the UAE Domestic Minimum Top-up Tax (UAE DMTT) on 9 December
See More
Lithuania considers raising VAT registration threshold to new level
Lithuania's parliament is considering a proposal to raise the VAT registration threshold from EUR 45,000 to EUR 60,000. Under the new rule, businesses in Lithuania would only need to register for VAT if their annual turnover surpasses EUR 60,000.
See More
Philippines issues guidance on excise tax exemption for EVs, securitisation tax rules
The Philippines Department of Finance (DoF) has released Revenue Regulations (RR) No. 1-2025, which amends section 9 (E) of RR No. 25-2003, has went into effect on 6 January 2025. The amendment updates the documentary requirements motor vehicle
See MoreOECD highlights Kazakhstan’s tax reforms, plans for Pillar Two solution
The OECD has published a case study on tax and development highlighting Kazakhstan’s enhanced ability to combat tax avoidance. The case study showcases Kazakhstan’s notable achievements, emphasizing key milestones such as: Signed and
See More
OECD releases latest Pillar Two compliance insights
The OECD has released essential guidance on implementing the Pillar 2 GloBE rules on 15 January 2025. Jurisdictions implementing Pillar 2 must calculate an MNE’s tax liability using their local legislation, which may differ from calculations
See More
UK: HMRC reduces interest rates for late payments, overpayments
The UK's tax authority, His Majesty's Revenue and Customs (HMRC), has announced a reduction in interest rates for late payments and overpayments of taxes: The new rates are 7% for late payments and 3.5% for overpayments. This development follows
See MoreFrance raises financial transactions tax
France has raised the financial transactions tax rate from 0.3% to 0.4%, introduced in the French Finance Law for 2025 which was passed by parliament on 6 February 2025. The higher rate will apply to acquisitions made from the first day of the
See More
Botswana presents 2025-26 FY budget to National AssemblyÂ
Botswana’s Ministry of Finance and Economic Development has presented its budget proposals for the 2025-26 fiscal year to the National Assembly on 10 February 2025. Amendments include changes to corporate taxation, VAT and personal
See More
Angola approves 2025 state budget
Angola’s parliament has approved the General State Budget for 2025 on 30 December 2024, introducing amendments to corporate income tax, VAT and personal income tax. The key tax measures are as follows: Corporate income tax Corporate
See More
Taiwan: MOF clarifies exit restrictions for tax debtors ahead of lunar new year
Taiwan's Ministry of Finance (MOF)Â has issued a notice on 21 December 2025 clarifying the requirements for the lifting of travel restriction on tax debtors, which include either paying the tax due along with a fine, or furnishing property
See More
India issues guidance on principal purpose test in tax treaties
India's Central Board of Direct Taxes has issued Circular No. 01/2025 on 21 January 2025, clarifying the application of the Principal Purpose Test (PPT) provisions in tax treaties. The Circular confirms that PPT provisions, including those
See More
Luxembourg issues 2024 exchange rates for foreign currencies
The Luxembourg Administration of Direct Tax has released Circular L.G. - A n° 60bis/10 of 17 January 2025, detailing the reference EUR exchange rates for 30 foreign currencies for 2024. This announcement was made by the Government of Luxemburg
See More
Sweden proposes property tax increase on wind turbines from 2026
The Swedish Government has announced a proposal to raise the property tax on wind turbines. This announcement was made by the Swedish Government on 2 January 2025. The legislative amendment is proposed to take effect on 1 January
See More