US: House of Representatives reintroduces Unfair Tax Prevention Act bill to block extraterritorial taxes
Representative Ron Estes (R-Kansas) reintroduced the Unfair Tax Prevention Act in the US House of Representatives on 27 March 2025. Rep. Ron Estes (R-Kansas), joined by every Ways and Means Republican, reintroduced the Unfair Tax Prevention Act
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Denmark extends digital bookkeeping to more businesses starting March 2025
Denmark introduced executive orders BEK no. 297 and BEK no. 303 on 20 March 2025, extending the digital bookkeeping obligation to more businesses. The new rules apply to: Sole proprietorships with an annual turnover over DKK 300,000 for
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UK: HMRC announces increase in late payment interest rates for unpaid taxes
The UK’s tax, payments and customs authority (HMRC) has published a policy paper on 26 March 2025 outlining an increase in the late payment interest rate for unpaid tax liabilities by 1.5 percentage points. This change will take effect from 6
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UK: HMRC launches consultation on tax certainty for major projects
The UK’s tax, payments and customs authority (HMRC) has initiated a public consultation on 26 March 2025 to gather opinions on a new process that aims to provide major projects with greater certainty regarding the tax that will apply in
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Namibia announces tax proposals in 2025-26 budget
Namibia’s Ministry of Finance unveiled the 2025-26 budget on 27 March 2025, outlining several tax proposals, including corporate tax reductions, VAT changes, and higher excise duties. Namibia’s national budget has risen to NAD 106.3 billion,
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UN Tax Committee: Guidance on Indirect Taxes
At the meeting of the UN Tax Committee on 27 March 2025 the subcommittee dealing with indirect taxation matters put forward some potential issues that the next membership of the Tax Committee may wish to consider at future sessions. The
See MoreUN Tax Committee: Extractive Industries Taxation
On 25 March 2025 the Subcommittee on the Extractive Industries taxation presented to the UN Tax Committee a draft supplement to Chapter 5 (tax incentives) of the UN Handbook on Selected Issues for Taxation of the Extractive Industries; draft
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US outlines CAA with Switzerland
The US Internal Revenue Service (IRS) has released Announcement 2025-08, which outlines a competent authority arrangement (CAA) established with Switzerland in December 2024. The Competent Authority Arrangement entered into by the competent
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Luxembourg unveils action plan to boost start-ups
The Luxembourg Minister of the Economy, SMEs, Energy and Tourism, Lex Delles, and the Minister of Finance, Gilles Roth, jointly presented an action plan entitled "10 Action Points for Start-ups". This announcement was made by the Government
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Costa Rica consults draft resolution for unique tax registry registration
The Costa Rican Tax Administration has initiated a public consultation regarding the draft resolution which outlines updated procedures for taxpayer registration, updates, and deregistration in the Unique Tax Registry (RUT) on 18 March
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Saudi Arabia: ZATCA announces criteria for 22nd wave of e-invoicing compliance
The Saudi Zakat, Tax, and Customs Authority (ZATCA) announced on 21 March 2025 the criteria for the 22nd group of taxpayers required to comply with the second phase of the electronic invoicing (e-invoicing) system which includes all taxpayers
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Turkey: Ministry of Treasury and Finance issues guidance on tax deferral, instalment plans
The Turkish Ministry of Treasury and Finance has issued a guide explaining how taxpayers can defer or pay their tax debts in installments under Law No. 6183. This guide details eligibility criteria, application steps, required documents, interest
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India to abolish 6% equalisation levy on online advertising from April 2025
India is set to remove the 6% equalisation levy on online advertising services starting 1 April 2025, following government approval of amendments to the Finance Bill 2025 as part of the 2025-2026 Budget. The levy was first introduced in the 2016
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Bulgaria: Parliament adopts 2025 state budget
Bulgaria’s National Assembly has adopted the draft law on the state budget for 2025 at its second reading on 21 March 2025. The 2025 budget proposes no tax increases and projects a deficit of 3% of the gross domestic product (GDP). It forecasts
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EU approves proposal to delay certain corporate sustainability reporting, due diligence requirements
The EU Member states' representatives (Coreper) have approved the EU Council's position (“negotiating mandate”) on one of the Commission's proposals to simplify EU rules and thus boost EU competitiveness on 26 March 2025. This proposal (the
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India proposes amendments to direct tax laws in Union Budget 2025
India’s government has introduced revisions to the proposed amendments to the Income-tax Act, 1961, as outlined in the Finance Bill, 2025. The Lok Sabha passed the Finance Bill 2025 on 25 March 2025, incorporating 35 government amendments. The
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Australia unveils 2025-26 budget, proposes amendments to tax laws for managed investment trusts
Australia’s Treasurer Jim Chalmers presented the 2025-26 Budget on 25 March 2025. The tax measures are limited and include plans to amend tax laws for managed investment trusts, allowing legitimate investors to access concessional withholding tax
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UN Tax Committee: Transfer Pricing Subcommittee Discusses Future Guidance
On 26 March 2025 the UN Tax Committee discussed their transfer pricing work. Since the previous session of the Committee, the Subcommittee on Transfer Pricing has gathered feedback from members on possible future workstreams that could be pursued by
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