Cyprus sets deadline for ultimate beneficial owners information
The Department of Registrar of Companies and Intellectual Property (DRCIP) of Cyprus has declared that all companies and partnerships registered under the Companies Law, including European Public Limited Liability Companies, should log into the UBO
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Brazil extends tax incentives for semiconductor industry
Brazil has extended the tax incentives for the semiconductor and information and communication technology sectors until 31 December 2029, published in Law No. 14.968, dated 11 September 2024 in the Official Gazette. The incentives include the
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Panama introduced procedure to allow transfer of tax credits
Panama’s tax administration (Dirección General de Ingresos, DGI) introduced a procedure that allows taxpayers to transfer tax credits from income tax, property tax, education insurance tax, complementary tax, and dividend tax to another
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Dominican Republic extends CbC reporting deadline
The Dominican Republic's Directorate General of Internal Revenue (DGII) announced a second extension for the submission deadline of Country-by-Country (CbC) reports, published in Notice 16-2024, dated 30 August 2024. The new deadline for
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Germany seeks to extend deadline for transfer pricing documentation reporting, reduce bureaucratic burden on taxpayers
Germany’s government has proposed to extend the deadline for taxpayers to submit detailed transfer pricing documentation, and to revise the guidelines for how companies compile information for audits. Germany's first chamber approved a bill
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UN publishes draft guidance on carbon offsets, carbon credits in transfer pricing
The UN Subcommittee on Transfer Pricing published an advanced unedited version of the guidance Interstitial Guidance on Transfer Pricing of Carbon Offsets and Carbon Credits on 28 August 2024. The draft is an updated version of a document
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Zambia presents 2025 budget
Zambia’s Minister of Finance and National Planning, Situmbeko Musokotwane, presented the 2025 National Budget to the National Assembly on Friday, 27 September 2024. “The 2025 budget is premised on economic recovery and promoting growth to
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South Africa updates corporate income tax return form, allows additional allowance for renewable energy production
The South African Revenue Service (SARS) has updated the corporate income tax return form (ITR14 form), allowing taxable entities to claim section 12BA allowances on 16 September 2024. The 12BA allowance offers a 125% enhanced allowance for
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Ireland publishes responses on second feedback statement for introduction of participation exemption for foreign dividends
The Irish Government published the responses collected from the second feedback statement regarding the implementation of a participation exemption regime for foreign dividends on 25 September 2024. It includes potential draft proposals for the
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Lithuania moves towards full implementation of Pillar Two global minimum tax
Seimas, the Lithuanian parliament is reviewing a draft law to fully implement the Pillar Two global minimum tax, in line with Council Directive (EU) 2022/2523 of 14 December 2022. According to the draft, the law for full implementation is set to
See MoreOECD: Latest Edition of Tax Policy Reforms
On 30 September 2024 the OECD published the latest edition of Tax Policy Reforms: OECD and Selected Partner Economies. This annual publication provides comparative information on tax reforms in a number of countries. The latest report looks at the
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Poland to implement Crypto-Asset Reporting Framework (CARF)
Poland's Ministry of Finance in a release announced that Poland will enact the Crypto-Asset Reporting Framework (CARF) on 24 September 2024. The Crypto-Asset Reporting Framework (CARF) is a standard for reporting and exchange of tax
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El Salvador passes tax incentives for major real estate projects
El Salvador’s Congress (Legislative Assembly of El Salvador) approved a decree titled “Special Provisions for the Promotion and Granting of Tax Incentives to Foster the Development of High-Rise Real Estate Projects” on 23 September
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Uruguay extends CIT and Net Wealth Tax exemptions, updates definition of Shared Services Centre
The Ministry of Economy and Finance in Uruguay updated the definition of “Shared Services Centre” and extended tax exemptions for Corporate Income Tax (CIT) and Net Wealth Tax, through the publishing of Decree No. 257/024 in the Official
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Greece releases solidarity contribution details for energy, mining sectors
The Greek Public Revenue Authority (AADE) has published an outline of the form and content of the temporary solidarity contribution declaration on 18 September 2024. Greece introduced temporary solidarity contribution targeting companies in the
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Poland passes bill easing VAT rules for small businesses
Poland’s government passed a bill to streamline and simplify VAT obligations, particularly for small businesses in the European Union. Earlier, Poland’s Ministry of Finance approved a draft bill on 10 September 2024 to simplify and modify VAT
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Lithuania: Social Democratic Party proposes higher corporate income tax, luxury asset tax
Lithuania’s Social Democratic Party Vilija Blinkevičiūtė, announced her party's tax reform plans in anticipation of the upcoming election on 24 September 2024. She stated that if her party comes to power after the forthcoming parliamentary
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Turkey clarifies electronic notification rules in tax procedure law
Turkey’s Ministry of Treasury and Finance has clarified taxpayers' obligations under the Electronic Notification Process in the Tax Procedure Law (TPL), published General Communiqué No. 568 in the Official Gazette, on Wednesday, 25 September
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