Norway signs new VAT agreement with EU
Norway's ambassador to the EU, Anders H. Eide announced that he signed a renegotiated agreement with the EU on administrative cooperation in the field of VAT to combat international VAT fraud on 2 October 2024. An agreement between Norway and the
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Thailand extends VAT exemption for cryptocurrency, digital tokens
The government of Thailand exempted Value Added Tax (VAT) on cryptocurrency transfers and the use of digital tokens in Royal Decree No. 788, effective starting 25 September 2024. The latest decree entends this exemption and is applicable to
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European Commission refers Spain, Cyprus, Poland, Portugal to court for failing to transpose Pillar Two Minimum Taxation Directive
The European Commission (EC) decided to refer Spain, Cyprus, Poland, and Portugal to the Court of Justice of the European Union for failing to notify measures for the transposition into national law of Council Directive (EU) 2022/2523 of
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Peru updates invoice recording deadlines, grants tax authority power to generate purchase register
The Peru government has implemented changes to amend deadlines for recording invoices in the purchase register for value added tax (VAT) purposes, and allows Peru’s tax authority (SUNAT) to generate the purchase register, published in Legislative
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Argentina introduces new procedure for tax residence certificates
Argentina’s tax authority (AFIP) announced a new procedure for obtaining a certificate of tax residence for individuals and legal entities. The rules were outlined in General Resolution 5572 and published in the Official Gazette on 24 September
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France sets interest deductibility rate limit for shareholder payments
France’s Ministry of Finance released the quarterly TMP (taux moyen pratiqué) rate to determine the annual market rate limit for deducting interest paid to shareholders. French law allows corporations to deduct annual shareholder interest
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India announces tax amnesty scheme rules and start date for dispute settlements
India’s Central Board of Direct Taxes (CBDT) announced the effective date and the rules for implementing the "Direct Tax Vivad Se Vishwas Scheme 2024" (VSV), which was introduced in the 2024 Budget to resolve tax disputes and reduce litigation
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Argentina extends tax amnesty opt-in deadlines
Argentina’s Executive Branch issued Decree 864/2024, which extends the deadlines to opt for the tax amnesty regime, published in the Official Gazette of 30 September 2024. The tax amnesty regime was introduced by Law 27,743 setting new
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Nigeria gazettes new withholding tax regimeÂ
Nigeria’s Federal Ministry of Finance has announced the Deduction of Tax at Source (Withholding) Regulations 2024 has been published in the official gazette on Wednesday 2 October 2024. The commencement date of the new Regulations is 30
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Belgium introduces tax measures for Flemish region
Belgium’s new government agreement for the Flemish region includes various tax measures, which includes amendments to inheritance and property taxes. Under the new tax measures, effective in 2026, inheritance tax rates will decrease for small
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Croatia consults amendments to VAT Act
Croatia’s government initiated a public consultation for draft legislation in which it plans to amend the VAT Act by raising the annual threshold for mandatory VAT registration from EUR 40,000 to EUR 50,000, aligning with the cumulative inflation
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Denmark: 2024-25 legislative plan proposes updates to minimum tax, transfer pricing to match OECD rules
Denmark's government announced the legislative programme for the parliamentary year 2024-25 on 1 October 2024. The bill follows up on the government platform "Responsibility for Denmark" from December 2022 and the agreement on "A Stronger Business
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Taiwan publishes guidance on application of tax laws for entities donating goods for charity
Taiwan's Ministry of Finance has released guidance on the application of business tax laws and regulations related to donations of goods to government agencies or charitable organisations. According to the National Taxation Bureau of Kaohsiung,
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Spain consults crypto-asset reporting framework
The Spanish Ministry of Finance and Public Administration has initiated a public consultation on a draft bill to implement EU Directive 2023/2226 (DAC8), which which integrates the OECD’s crypto-asset reporting framework (CARF) into the regulatory
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South Africa publishes guidance for taxation of small businesses
The South African government has released a revised tax guide for small businesses for the 2023/24 fiscal year on 26 September 2024. It deals with the taxation of small businesses such as sole proprietors, partnerships and companies not part of
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US: IRS consults tax form for reporting Partner’s Report of Property Distributed by a Partnership
The US Internal Revenue Service (IRS) issued a news release (IR-2024-249) on 30 September 2024 requesting public comments on draft Form 7217 and Instructions for draft Form 7217. On 28 August 2024, the IRS posted a revised draft Form 7217 Â with
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Ethiopia introduces VAT exemptions on water, electricity, mass transport services for low-income groups
The Ethiopian Ministry of Finance published VAT Directive No. 1341/2024, outlining the application of VAT on water, electricity, and transport services on 29 August 2024. The South African government has updated the value-added tax (VAT) policy
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OECD releases updated CRS XML schema, CARF XML schema, user guides
The OECD announced on 2 October 2024 the release of an XML schema and user guide to facilitate the exchange of information between tax authorities under the Crypto-Asset Reporting Framework (CARF). The OECD also unveiled an updated XML schema and
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