US: SST Board finds Georgia, Nebraska, Ohio sales tax systems non-compliant, seeks public input
The US Streamlined Sales Tax Governing Board (SST) has found potential non-compliance with the Streamlined Sales and Use Tax Agreement (SSUTA) in Georgia, Nebraska, and Ohio during its 2024 Annual State Compliance Review. The SST has requested
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Ireland updates tax manual on employer-provided vehicles
Irish Revenue updated the tax and duty manual on employer-provided vehicles detailing the tax implications when an employer provides a vehicle for an employee's private use. The notice was published in eBrief No. 219/24. The updates are as
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Ecuador clarifies invoice, VAT rules for land transport services
Ecuador's Internal Revenue Service (SRI) has issued Circular NAC-DGECCGC24-00000005 on 15 August 2024, clarifying the requirements for invoices and receipts related to land transport services, particularly concerning the deduction of costs and the
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Switzerland adopts partial revision of the ordinance governing VAT
The Swiss Federal Council adopted a partial revision of the Value Added Tax Ordinance (VAT) on 21 August 2024. It contains the implementing provisions of the revised Value Added Tax Act (VAT Act) and changes unrelated to this revision of the VAT
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US: Wisconsin to join IRS 2025 direct filing season
The US Department of the Treasury and Internal Revenue Service (IRS) announced that Wisconsin is the next state to join the IRS Direct File for Filing Season 2025 on 21 August 2024. IRS Direct File was made possible by President Biden’s
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Brazil plans to increase taxes to fund extended social contribution regime
Brazil’s Finance Minister Fernando Haddad has reportedly unveiled plans to raise levies on interest on equity and the social contribution on profits (CSLL). The tax hike is aimed to offset the costs associated with the partial extension of the
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Argentina introduces regulations to incentivise large investments
Argentina’s Executive Branch, through Decree 749/2024, has approved regulations under the RIGI - the Incentive Regime for Large Investments, as outlined in Law 27,742, on 23 August 2024. The RIGI regime aims to generate the conditions of
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Malaysia revises service tax policy for logistics services
The Royal Malaysian Customs Department (RMCD) released an update to the Service Tax Policy 4/2024 (Amendment No 1) on 23 August 2024 concerning logistics services, which went into force on 1 March 2024. All logistics services under Group J (First
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Kenya considering penalty waiver for tax agents delaying remittances
Kenya’s Parliament announced in a Facebook post that it is evaluating the Kenya Revenue Authority (Amendment) Bill 2024, which was first presented on 15 August 2024. The bill is currently under review by the Committee on Finance and National
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New Zealand consults Inland Revenue’s long-term insights briefing
New Zealand’s Inland Revenue is consulting on the scope of its next long-term insights briefing (LTIB). You can provide feedback on this consultation by emailing policy.webmaster@ird.govt.nz with "LTIB topic" in the subject line. The closing
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Turkey extends submission, payment deadlines for Q2 income and corporate tax
Turkey's Revenue Administration has extended the return submission and payment deadline for the second quarter tax period of the 2024 accounting period for income and corporate tax from 19 August 2024 to 27 August 2024. The announcement was made
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Serbia announces amendments to e-invoicing rulebook
Serbia’s Ministry of Finance released updates to the electronic invoicing (e-invoicing) rulebook in the official gazette no. 65/2024 on 2 August 2024. These amendments will take effect from 1 September 2024, with specific provisions concerning the
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Australia revises penalty, interest guidelines
The Australian Taxation Office (ATO) revised its guidance on Penalties and Interest on 21 August 2024, explaining how penalties and interest are applied in different situations, including failure to meet tax obligations. Interest charges Tax
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US releases report on Inflation Reduction Act
The US Internal Revenue Service (IRS) released IR-2024-223 on Friday, 23 August 2024, publishing its Inflation Reduction Act two-year report card. The IRS has made significant progress on a range of improvements, including that all taxpayers can
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Poland: Council of Ministers propose corporate tax reforms
Poland’s Council of Ministers has presented a legislative agenda to amend the Individual Income Tax Law (IITL), Corporate Income Tax Law (CITL), and other tax measures. The proposed changes are intended to simplify tax regulations, remove
See MoreWTO: World Trade Statistics 2023
On 31 July 2024 the WTO launched a new online interactive tool, World Trade Statistics 2023. The interactive tool includes charts of the growth in merchandise trade value and volume, the top 20 exporters in merchandise trade and the growth in
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Switzerland extends special rules on withholding tax for too-big-to-fail instruments
The Swiss Federal Council approved a temporary extension of the special rules on withholding tax for too-big-to-fail (TBTF) instruments to 31 December 2031. This ensures that banks can continue to obtain capital from within Switzerland on
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Colombia clarifies reporting obligations for overseas assets
Colombia’s National Tax Authority (DIAN) has clarified that overseas assets and shares held in a foreign company owned by Colombian companies must be reported in the tax return. The clarification was published in Opinion 100208192-628 of 2024
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