Poland postpones compulsory e-invoicing requirements
On 19 January 2024, the Ministry of Finance in Poland announced a delay in the mandatory implementation of the National e-Invoicing System (Krajowy System e-Faktur - KSeF) due to technical issues. The National e-Invoice System (KSeF), which was
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Bolivia: 2024 state budget law introduces tax measures
On 5 January 2024, Bolivia introduced new tax measures in Law No. 1546 of the 2024 General State Budget. The tax measures are: The validity of the financial transactions tax will be extended until 31 December 2028. An amendment to the ICE
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South Korea approves 2024 tax reform bill and postpones undertaxed profits rule
On December 31, 2023, South Korea implemented the 2024 Tax Reform Bill (the 2024 Tax Reform) after approval from Korea's National Assembly on 21 December 2023. The 2024 Tax Reform will take effect for fiscal years starting on or after 1 January 1,
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Ukraine approves 2024-2030 national revenue strategy with tax reforms
On 27 December 2023, the Ukrainian government approved the National Revenue Strategy 2024-2030. The strategy includes several tax reforms, among other things. The key points of the strategy are as follows: 1. Reform the simplified taxation
See MoreUN Resolution Paves Way for Equitable Global Tax Framework
The UN's Resolution A/C.2/78/L.18/Rev.1, proposed by Nigeria, represents a critical stride in establishing a UN Framework Convention on International Tax Cooperation. It confronts longstanding disparities born from decades of OECD-dominated tax
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Ireland passes finance act (no. 2) 2023 for 2024 budget and pillar 2 global minimum taxÂ
On 18 December 2023, Ireland enacted the Finance Act (No. 2) 2023 (Act No. 39 of 2023), which contains provisions for the Pillar 2 global minimum tax in line with Council Directive (EU) 2022/2523 of 14 December 2022. In addition to the Pillar 2
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Brazil passes major indirect tax reformsÂ
On 20 December 2023, Brazil passed Constitutional Amendment No. 132 of 20 December 2023, introducing major indirect tax reforms. These reforms will replace or unify several existing indirect taxes with new tax measures. The taxes that are
See MoreGloBE rules to be enforced from January 2024 despite major challenges
The OECD framework Two-Pillar Solution the global corporate minimum tax rate of 15% (Model GloBE Rules), imposed on large multinational companies with annual revenues of $790 million (€750 million) a proposal drafted by the OECD alongside G-20,
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OECD: 2022 Peer Review Reports on the Exchange of Information on Tax Rulings
On 13 December 2023 the OECD released the 2022 Peer Review Reports on the Exchange of Information on Tax Rulings. The latest annual peer review reports cover 131 Inclusive Framework member jurisdictions and jurisdictions of relevance. The BEPS
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Brazil tax reform brings challenges to service sectors
The new Brazilian transfer pricing rules align with the OECD standard and are a radical change to the analysis of intra-group transactions, and offer several implementational challenges. Besides, the tax reform (PEC 45/2019) is being discussed in
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Argentina: Newly elected government announces tax reforms
On 10 December 2023, the recently elected Government took power and has announced a series of structural economic and tax measures, including a significant simplification and reduction in applicable taxes. One of the measures announced has been
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WHO: Launch of Technical Manual on Alcohol Tax Policy and Administration
On 5 December 2023 a webinar was held to launch the WHO technical manual on alcohol tax policy and administration. See: WHO technical manual on alcohol tax policy and administration . Rudiger Krech, the director of health promotion at the WHO,
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UN Adopts Resolution to Set Up a Framework Convention on Tax
On 22 November 2023 the UN general assembly adopted a resolution to commence the process of setting up a framework convention on tax. The framework convention could ensure that the UN is the main body for decision-making on international tax
See MoreOECD Releases Information and Statistics on Mutual Agreement Procedures
On 14 November 2023 the OECD released the 2022 Mutual Agreement Procedures (MAP) Statistics, covering 133 jurisdictions worldwide. The release of these statistics each year is part of the actions to improve dispute prevention and resolution in line
See MoreOECD: Peer Review Report on Tax Transparency and EOI in Serbia
On 8 November 2023 the OECD’s Global Forum published the second-round peer review report on Serbia’s implementation of the standard on transparency and exchange of information (EOI). The report assesses the legal and regulatory framework at 4
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OECD: Peer Review Report on Tax Transparency and EOI in Latvia
On 8 November 2023 the OECD’s Global Forum published the second-round peer review report on Latvia’s implementation of the standard on transparency and exchange of information (EOI). Latvia’s implementation of the EOIR standard was given an
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OECD: Peer Review Report on Tax Transparency and EOI in Poland
On 8 November 2023 the Global Forum on Transparency and Exchange of Information for Tax Purposes published the second-round peer review report on Poland’s implementation of the standard on transparency and exchange of information (EOI). Poland’s
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OECD: Peer Review Report on Transparency and EOI in Thailand
On 8 November 2023 the Global Forum published a peer review report on Thailand's implementation of the standard on transparency and exchange of information. Thailand joined the Global Forum in 2017 and made efforts to establish the necessary legal
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