Slovak Republic: Parliament approves bill revising motor vehicle taxes
The Slovak Republic’s Parliament has passed a legislation amending the motor vehicle tax law on 27 November 2024. The changes include reduced annual tax rates for vehicles exceeding 3.5 tons and a unified approach to adjusting tax rates based
See More
Ecuador updates tax haven and preferential regime guidelines
Ecuador's Internal Revenue Service (SRI) has published Circular NAC-DGECCGC25-00000002 on 21 January 2025, outlining new guidelines for identifying tax havens, preferential tax regimes, and low-tax jurisdictions. A regime or or jurisdictions
See More
Ukraine raises key interest rate to 14.5%
The National Bank of Ukraine has announced, on 23 January 2025, to raise the key policy rate from 13.5% to 14.5%, effective 24 January 2025. This decision is aimed at maintaining the stability of the foreign exchange market, keeping inflation
See More
US: BOI reporting still voluntary after Supreme Court lifts injunctionÂ
The US Supreme Court on 23 January 2025 approved the government's request to lift a nationwide injunction previously issued by a federal judge in Texas. The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) has issued an
See More
Slovenia adopts public CbC reporting
Slovenia has published a decree to implement the EU public country-by-country (CbC) reporting under Directive (EU) 2021/2101 into its domestic legislation on December 2024. Under the decree, public CbC reports must be translated into Slovenian.
See More
Italy gazettes law introducing new VAT reverse charge for logistics
The Italian Budget Law for 2025 (Law No. 207 of 30 December 2024) was published in the Official Gazette on 31 December 2024 which introduces a new value added tax (VAT) reverse charge mechanism specifically for transport, handling, and logistics
See More
US: Supreme Court rejects Disney, IBM tax appeals on foreign royalties
The US Supreme Court has declined to review two notable cases from Disney on 21 January 2025, upholding a New York ruling that bars companies from deducting payments to foreign affiliates for intellectual property under a state law from 2003 to
See More
Chile mandates physical copies of VAT e-invoices
Chile’s Tax Administration (SII) has issued Resolution SII 12-2025 on 17 January 2025, mandating taxpayers to provide a physical copy of the e-invoice and payment certificate (vouchers) for sales and services rendered to final consumers through
See More
Morocco clarifies 2025 Finance Law provisions
Morocco’s Directorate General of Taxes (DGI) has published detailed guidance on the tax provisions outlined in the 2025 Finance Law. This guidance is presented in the Finance Law Circular No. 60-24. Earlier, Morocco’s Ministry of Finance
See More
Cambodia reminds taxpayers to file 2024 income tax returns
Cambodia’s General Department of Taxation (GDT) has issued Notification No. 339 on 6 January 2025, reminding taxpayers to file and pay their 2024 Tax on Income (TOI). Companies must file their annual TOI return online by 31 March 2025.
See More
Slovak Republic drafts bill for DAC9, Pillar Two global minimum amendments implementation
The Slovak Republic’s Ministry of Finance has announced plans to draft an amendment to Law No. 507/2023, enacted on 8 December 2023. This law partially implemented the Pillar Two global minimum tax in alignment with Council Directive (EU)
See More
Chile to cut SME tax rates from 2025 to 2028
Chile's Chamber of Deputies is reviewing a proposal from 22 January 2025 to temporarily reduce the corporate tax rate for qualifying SMEs under the Pro Pyme regime. The proposal includes a 12.5% rate for 2025–2027 and 15% for 2028. Earlier,
See MoreUS: Treasury to probe foreign countries’ tax discrimination against American citizens, corporations
Republicans on the US House Ways and Means Committee have proposed new legislation on 22 January 2025, which aims to tighten oversight of foreign tax policies. The bill shall require the Treasury Department to identify extraterritorial and
See MoreUS: Senate Finance, Foreign Relations Committees propose Bill to expedite double-tax relief on US-Taiwan cross-border investment
US Senate Finance Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Ron Wyden (D-Oregon), with US Senate Foreign Relations Committee Chairman Jim Risch (R-Idaho) and Ranking Member Jeanne Shaheen (D-New Hampshire) has introduced a
See MoreSlovakia Republic announces new VAT rates for energy supplies
The Slovak Republic’s tax authority has released guidance on new VAT rates for energy supplies, effective from 1 January 2025. Under the guidance, the standard VAT rate will rise from 20% to 23%, and the reduced rate (including electricity)
See More
Philippines: BIR clarifies VAT rules on digital services
The Philippines’ Bureau of Internal Revenue (BIR) has released Revenue Regulation 003/2025, providing a comprehensive guide on implementing value-added tax (VAT) for digital services under Republic Act No. 12023. The regulation also defines the
See More
Australia consults GST, excise tax law amendments
The government has launched a consultation on a draft bill, regulations, and an instrument proposing amendments to various tax laws, including the Inspector-General of Taxation Act 2003, the GST Act 1999, and the Excise Act 1901. The proposed
See More
Luxembourg updates all tax return deadlines
The Luxembourg Administration of Direct Tax has announced that the deadline for submitting all types of tax returns, including individual income tax returns (M100) and corporate income tax returns (M500), has been moved from the first Monday in
See More