Greece proposes tax, crypto and debt settlement reforms in new draft law
Greece's Ministry of Finance submitted a draft law to Parliament on 31 March 2025, proposing several tax and financial reforms. The bill includes provisions allowing carried-forward losses from corporate mergers, including credit institutions,
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Australia: ATO announces amendments to its top 500 program
The Australian Taxation Office (ATO) has announced updates to its Top 500 Private Groups Tax Performance Program, effective 1 April 2025. About the Top 500 private groups tax performance program The Top 500 private groups tax performance
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UN: ECOSOC tackles cross-border digital taxation
The UN Economic and Social Council (ECOSOC) has discussed a potential UN framework to address cross-border service taxation, including withholding and digital services taxes, in a special tax meeting on 28 March 2025. The Special Meeting of the
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France publishes Q1 2025 floating rate for shareholder loans
France’s Official Journal published the Q1 2025 average floating rate for bank loans with maturities over two years, set at 4.92% on 28 March 2025. This rate is used to determine the maximum deductible interest rate on loans from direct
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Canada: Quebec announces tax measures in 2025-26 budget
The Canadian province Quebec's finance minister, Eric Girard, delivered the province’s 2025-26 budget on 25 March 2025. The minister unveiled a budget projecting a CAD 13.6 billion deficit, with CAD 2.2 billion allocated for debt repayment and
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South Africa raises eligibility for carbon offset allowances in updated tax regulations
The South African National Treasury has updated the Carbon Offset Regulations under Section 19(c) of the Carbon Tax Act, 2019, on 14 March 2025. The amendments raise the eligibility threshold for energy projects qualifying for carbon offset
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New Zealand: Inland Revenue announces 2025 exemptions for foreign company and FIF disclosures
The Commissioner of Inland Revenue (CIR) has revealed the 2025 International tax disclosure exemption on 31 March 2025. Section 61 of the Tax Administration Act 1994 ("TAA") requires taxpayers to disclose interests in foreign entities. Section
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Greece proposes tax incentives to boost capital market and innovation in 2025
The Greek Ministry of Finance has proposed legislation offering tax incentives to bolster the capital market, featuring an increased deduction for listing costs of small and medium enterprises and an expanded angel investor tax relief for
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India enacts Finance Act 2025, offers support for targeted sectors of the economy
India's Central Board of Direct Taxes (CBDT) has released the Finance Act 2025 on 29 March 2025. The Act was officially enacted on 29 March 2025, following the President's assent, implementing the provisions outlined in the 2025–2026
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Ghana: Parliament passes 2025 budget measures
Ghana's Ministry of Finance announced that the Parliament approved several 2025 Budget measures on 26 March 2025. The passage of these bills marks a major leap for economic reform and a significant step in fulfilling the government’s commitment
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US: Trump introduces ‘reciprocal tariffs’, rattles global trade relations
Appearing in the White House Rose Garden, where large US flags were draped along the colonnades, President Trump signed an executive order implementing a 10% baseline tariff on imports from all countries on Wednesday, 2 April 2025. The move is
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US: USTR releases 2025 national trade estimate report
The Office of the United States Trade Representative (USTR) submitted the 2025 National Trade Estimate (NTE) to President Trump and Congress on 31 March 2025. The NTE is an annual report detailing foreign trade barriers faced by U.S. exporters
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UN Tax Committee adopts major international tax reforms in 30th session
The UN Committee of Experts on International Tax Matters made key changes to global tax policies during its 30th session, which was held from 24 to 27 March 2025 in New York. About the Committee The Committee comprises 25 members, nominated by
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Taiwan: Ministry of Finance clarifies investment loss recognition rules for bankrupt businesses
Taiwan's Ministry of Finance has announced that profit-seeking enterprises can only recognise investment losses from bankrupt businesses once the court has ruled to terminate the bankruptcy proceedings, while the National Taxation Bureau of Taipei
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New Zealand seeks public feedback on proposed fringe benefit tax changes
The Inland Revenue of New Zealand is inviting public feedback on proposed changes to the Fringe Benefit Tax (FBT) rules, aiming to simplify compliance and reduce costs for taxpayers, Revenue Minister Simon Watts has announced. This announcement
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Bulgaria adopts 2025 Budget Act with tax reforms
Bulgaria published its 2025 State Budget Act on 27 March 2025, introducing several key updates. The Act aligns the country’s Pillar 2 global minimum tax laws with OECD guidelines from 2023 and 2024, including rules on tax carryforwards,
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OECD updates legislation record for Pillar 2 global minimum tax transition qualified status
The OECD has released an updated edition of the Central Record of Legislation with Transitional Qualified Status for the Pillar 2 global minimum tax as of 31 March 2025. The global minimum tax follows a rule order that limits applying minimum tax
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Denmark: Business Authority delays OIOUBL 3 e-invoicing release to October 2025
The Danish Business Authority has announced that the release of the updated version of the Danish e-invoicing format, OIOUBL 3.0, will be delayed. The new release is now expected to be available in October 2025. The final release of the OIOUBL
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