UK: HMRC publishes transfer pricing, diverted profits tax data for 2023-24
UK tax authority, HMRC, released a transparency data report covering statistics on transfer pricing and Diverted Profits Tax through the end of the 2023-24 tax year on 27 January 2025. The report contains data on the following: Transfer
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Bangladesh: NBR further extends income tax return deadlines
Bangladesh’s National Board of Revenue (NBR) has further extended the deadline for filing income tax returns for both individuals and companies yesterday, 30 January 2025. Individual taxpayers now have until 16 February to file their returns
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Dominican Republic extends agricultural tax exemptions for 2025
The Dominican Republic's Directorate General of Internal Revenue (DGII) has issued General Rule No. 01-2025, on 24 January 2025, extending tax exemptions for the agricultural sector through 2025. These exemptions, originally outlined in General
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Kuwait gazettes Pillar Two global minimum tax law for MNEs
Kuwait has adopted OECD's Pillar Two global minimum tax with the publication of Decree No. 157/2024 in the Official Gazette on 30 December 2024. The decree imposes a 15% minimum tax rate on multinational enterprise (MNE) groups that generate over
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Germany: Local packaging tax upheld in Tübingen
Germany's Federal Constitutional Court rejected a constitutional complaint against Tübingen’s local packaging tax on 22 January 2025. Since 1 January 2022, Tübingen has imposed a tax on non-reusable packaging, dishware, and cutlery used for
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South Africa: President promulgates Taxation Laws Amendment Act, introduces changes to environmental tax provisions
The President of South Africa has promulgated the Taxation Laws Amendment Act 42 of 2024 which includes changes to environmental tax provisions. The law was published in the Official Gazette on 24 December 2024. The various amendments
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UAE: FTA reminds Natural Persons to register for corporate tax by March 2025
The UAE’s Federal Tax Authority (FTA), in a release on 28 January 2025, reminded all natural persons who are subject to Corporate Tax to submit their Tax Registration applications for Corporate Tax no later than 31 March 2025 to avoid
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Belarus publishes guidance on 2025 tax regulations
The Belarus Ministry of Taxes and Duties released detailed guidance on the upcoming tax reforms for 2025. The key changes include the following: New limitations on the investment deduction New investment deduction limitations have been
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Australia: ATO publishes guidance on public CbC reporting for large multinational enterprises
The Australian Taxation Office has published guidance on Public Country-by-Country reporting on 27 January 2025. Public CbC reporting is a reporting regime which requires certain large multinational enterprises to publish selected tax
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Slovak Republic: Parliament considers restoring 20% VAT rate
The Slovak Parliament is reviewing four proposed amendments to the VAT Act. The first bill expands the 5% reduced VAT rate to include certain mixes and doughs for baked goods. The second bill extends the 5% rate to menstrual hygiene products like
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Hong Kong cuts tax reserve certificate interest rates
Hong Kong’s Inland Revenue Department announced, on 28 January 2025, that starting from 3 February 2025 the new annual rate of interest payable on Tax Reserve Certificates will be 0.3417% against the current rate of 0.4250%, i.e. the new rate will
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Switzerland: Federal Tax Administration sets safe harbor interest rates for 2025
The Swiss Federal Tax Administration has published two circulars detailing the safe harbor interest rate limits for shareholders on 27 January and related party financing on 28 January in 2025. The rates vary depending on whether the financing
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Italy announces qualified jurisdictions for supplementary, national minimum tax
Italy’s Ministry of Economy and Finance has published a list of jurisdictions, on 23 January 2024, that have enacted supplementary minimum tax and national minimum tax laws. These jurisdictions have obtained the transitional “qualified” status
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Dominican Republic extends agricultural tax exemptions for 2025
The Dominican Republic's Directorate General of Internal Revenue (DGII) has issued General Rule No. 01-2025, on 24 January 2025, extending tax exemptions for the agricultural sector through 2025. These exemptions, originally outlined in General
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New Zealand: Inland Revenue initiates public consultation on tax implications of non-forestry activities registered in the Emissions Trading Scheme
New Zealand Inland Revenue (IR) has released an Interpretation Statement for public consultation on the tax treatment of non-forestry activities under the Emissions Trading Scheme (ETS) on 16 January 2025. This interpretation statement applies to
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French updates notification form for CbC reporting, Pillar Two global minimum tax
The French tax authorities introduced a Form n°2065-INT-SD intended for entities subject to the French Pillar Two law on 24 January 2025. The form was previously used to submit the Country-by-Country (CbC) reporting notification alongside the
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US: Idaho joins IRS Direct File for 2025 tax season
The Idaho State Tax Commission has confirmed, on 23 January 2025, that Idaho will participate in the IRS Direct File Programme starting with the 2025 tax filing season. Idaho expects to process over 1.03 million income tax returns in 2025. An
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US: IRS begins accepting 2024 federal individual tax returns
The US Internal Revenue Service (IRS) has issued IR-2025-18 on 27 January 2025, announcing the opening of the 2025 tax filing season and is accepting and processing federal individual tax year 2024 returns. During the early morning opening, IRS
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