Romania extends tax amnesty deadline for unpaid taxes
Romania has published Emergency Ordinance No. 132 of 21 November 2024 in the Official Gazette, which includes an extension of the payment deadline for the tax amnesty introduced in September 2024, among other provisions. As previously reported,
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US: IRS provides transitional relief for payment app transactions
The US Internal Revenue Service has issued Notice 2024-85 corresponding to a news release (IR-2024-299) on 26 November 2024, providing transition relief for third-party settlement organisations (TPSOs), also known as payment apps and online
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OECD releases new reports on automatic exchange of information, global forum activities
The Organisation for Economic Co-operation and Development (OECD) is holding its 17th Annual Plenary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) which started on 26 November 2024 in
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Australia initiates consultation on crypto reporting framework (CARF) and CRS changes
The Australian Treasury has published a consultation paper in November 2024 outlining Australia's strategy for adopting the OECD-developed guidelines on the Crypto Asset Reporting Framework (CARF) and related modifications to the Common Reporting
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Chile extends deadlines for tax regularisation, penalty relief
Chile enacted Law No. 21.716 which extends the deadline for the Regularisation Regime for Foreign Assets and Income, allowing taxpayers to regularise undeclared foreign assets and income with a 12% tax, granting amnesty for any civil, criminal, or
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EU: Public prosecutor probes EUR 520M VAT fraud linked to mafia networks across nations
The European Public Prosecutor's Office (EPPO) has announced, on 14 November 2024, that it launched an investigation into a EUR 520 million VAT fraud orchestrated by multiple mafia groups operating in various EU and non-EU countries. The
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New Zealand introduces tax policy work programme
New Zealand’s Minister of Revenue has introduced a tax policy work programme on 13 November 2024, which aims to simplify tax and reduce compliance costs, address integrity risks, and improve fiscal sustainability to rebuild the economy. The
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Philippines streamlines tax treaty rules for government securities
The Philippines Bureau of the Treasury (BTr) announced in a press release on 5 November 2024 the implementation of a streamlined tax treaty procedure for non-resident investors in Government Securities (GS). This initiative is part of the
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Kazakhstan consults cross-border transaction monitoring regulation updates
Kazakhstan’s Ministry of Finance (MoF) initiated a public consultation on 11 November 2024 to change the regulations governing the monitoring of cross-border business transactions. The state revenue authorities of Kazakhstan monitor
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Chile consults voluntary tax amnesty guidelines
Chile’s Tax Administration (Servicio de Impuestos Internos, SII) has initiated a public consultation regarding the implementation of the new temporary tax amnesty on foreign income and assets introduced in Article 11 (Transitory) of Law
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Australia: ATO publishes report on business dispute and settlement findings
The Australian Taxation Office (ATO) has announced the publishing of Public and Multinational Business Disputes and Settlements Findings on 11 November 2024. This report offers valuable insights and key findings regarding disputes and settlements
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Greece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and other provisions",
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US: IRS publishes 2024 Financial Report
The US Internal Revenue Service (IRS), in a release IR-2024-286 on 7 November 2024, published the financial information and highlighted selected accomplishments and challenges in its fiscal year 2024 Financial Report. During fiscal year 2024, the
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Panama offers amnesty for late interest payments for tax liabilities until December
Panama introduced a tax amnesty through Law 446, published in the Official Gazette on 28 October 2024, offering tax relief on surcharges and late interest payments for various tax liabilities, such as income tax, real estate tax, VAT, selective
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European Commission launches anti-dumping probe on Chinese choline chloride
The European Commission issued the Notice of initiation of an anti-dumping proceeding concerning imports of choline chloride originating in the People's Republic of China in the Official Journal of the European Union (OJEU) on 31 October
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US: Massachusetts plans limits on amnesty programme for non-filers
The Massachusetts Department of Revenue has issued a draft notice outlining potential restrictions on eligibility for certain taxpayers seeking to benefit from the Massachusetts Tax Amnesty Program 2024. The draft notice, “Working Draft TIR:
See MoreUN Tax Committee: Progress on Handbook on Health Taxes
On 18 October 2024 the UN Tax Committee held a first discussion on some new chapters of the Handbook on Health Taxes for Developing Countries. The subcommittee also presented revised versions of some chapters that had already been presented at an
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US: IRS to handle 400,000 employee retention credit claims
The US Internal Revenue Service (IRS) has issued the ERC claims update in a news release (IR-2024-263) on October 10, 2024, stating it is processing about 400,000 claims, representing approximately USD10 billion in eligible claims. Work on the
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