Croatia enacts amendments to the General Tax Act for 2025
Croatia has introduced amendments to its taxation laws concerning changes to its General Tax Act. The amendments go into effect on 1 January 2025. Amendments to the General Tax Act Expansion of tax audit scope and limitations for
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Australia: ATO publishes reportable tax position schedule for 2025
Companies are required to complete a reportable tax position schedule if their total business income is AUD 250 million or more, or AUD 25 million or more while part of an economic group with AUD 250 million or more in total income. This applies
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Sweden consults tax changes for 2026 Autumn Budget
Sweden’s Ministry of Finance has released several tax proposals for public consultation as part of preparations for the 2026 autumn budget on 10 February 2025. These proposals, which cover key sectors like agriculture, energy, and metallurgy,
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Dominican Republic offers tax credit for large taxpayers adopting e-invoicing
The Dominican Republic’s Directorate General of Internal Revenue (DGII) issued Notice 05-25 on 10 February 2025, introducing a tax incentive to support large national taxpayers in adopting e-invoicing during the voluntary implementation
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India: Cabinet approves Income Tax Bill for 2025
The Indian Union Cabinet has approved the Income Tax Bill 2025, which will supersede the old Income Tax Act of 1961. The proposed legislation seeks to streamline tax laws, remove outdated provisions, and simplify compliance processes. Union
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Greece: PM unveils bill to boost capital market, regulate cryptocurrencies
Greece’s Prime Minister Kyriakos Mitsotakis announced a new bill to support the capital market and regulate the growing cryptocurrency sector on 10 January 2025. The proposed legislation focuses on encouraging companies to list on the stock
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Turkey extends deadline for debt restructuring in earthquake-affected regions
Turkey's Ministry of Treasury and Finance has extended the deadline for restructuring public debts under Law No. 7440 to 1 September 2025 for earthquake-affected regions. The first payment is due by 30 September 2025, with subsequent instalments
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Sri Lanka: Inland Revenue issues guidelines for obtaining tax residency certificates
The Sri Lanka Inland Revenue has issued a notice outlining the steps taxpayers must follow to obtain tax residency certificates. This notice was published by Sri Lanka Inland Revenue on 29 January 2025. INLAND REVENUE DEPARTMENT NOTICE TO
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Singapore: IRAS urges employers to meet AIS deadline for accurate tax filing
The Inland Revenue Authority of Singapore (IRAS) has published a statement outlining the advantages of pre-filled tax returns for employees, along with the associated compliance responsibilities for employers. This announcement was made by the
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South Africa: SARS updates urban development zone allowance guide for 2025
The South African Revenue Service (SARS) has issued an updated Guide to the Urban Development Zone (UDZ) allowance on 17 January 2025. This incentive, introduced in 2003, aims to drive investment in 16 UDZs across 15 inner cities by offering
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Egypt: ETA mandates e-receipts for taxpayers in new regulation
The Egyptian Tax Authority (ETA) announced a new requirement for taxpayers to issue electronic receipts (e-receipts) for transactions with final consumers on 9 January 2025. E-receipts, or electronic receipts, serve as proof of payment and are
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France: Tax Authority clarify foreign tax credit rules
The French tax authority issued a ruling addressing the availability of foreign tax credits (FTCs) in cases where foreign withholding taxes conflict with the provisions of a relevant tax treaty on 18 December 2024. Under French law, FTCs are only
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Taiwan: Ministry of Finance warns of penalties for underreporting income despite no tax due
Taiwan's Ministry of Finance has clarified that enterprises will be penalized for failing to report or underreporting income, even if no tax liability exists. This announcement was made by the Taiwan Ministry of Finance on 2 January
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OECD highlights Kazakhstan’s tax reforms, plans for Pillar Two solution
The OECD has published a case study on tax and development highlighting Kazakhstan’s enhanced ability to combat tax avoidance. The case study showcases Kazakhstan’s notable achievements, emphasizing key milestones such as: Signed and
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OECD releases latest Pillar Two compliance insights
The OECD has released essential guidance on implementing the Pillar 2 GloBE rules on 15 January 2025. Jurisdictions implementing Pillar 2 must calculate an MNE’s tax liability using their local legislation, which may differ from calculations
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Botswana presents 2025-26 FY budget to National Assembly
Botswana’s Ministry of Finance and Economic Development has presented its budget proposals for the 2025-26 fiscal year to the National Assembly on 10 February 2025. Amendments include changes to corporate taxation, VAT and personal
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Angola approves 2025 state budget
Angola’s parliament has approved the General State Budget for 2025 on 30 December 2024, introducing amendments to corporate income tax, VAT and personal income tax. The key tax measures are as follows: Corporate income tax Corporate
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Taiwan: MOF clarifies exit restrictions for tax debtors ahead of lunar new year
Taiwan's Ministry of Finance (MOF) has issued a notice on 21 December 2025 clarifying the requirements for the lifting of travel restriction on tax debtors, which include either paying the tax due along with a fine, or furnishing property
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