Denmark reviews draft bill on crypto-asset reporting
Denmark's parliament is reviewing draft bill L 151, submitted on 26 February 2025, to implement the EU's DAC8 directive. The bill introduces new reporting and due diligence requirements for crypto-asset service providers, aligning with the
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Saudi Arabia releases draft real estate transaction tax regulations for public consultation
The Saudi Arabian Zakat, Tax, and Customs Authority (ZATCA) has released the draft regulations for the Real Estate Transaction Tax (RETT) for public consultation on 15 February 2025. The draft regulations update the rules for real estate
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Nigeria to launch pilot phase of e-invoicing system
Nigeria’s Federal Inland Revenue Service (FIRS) has initiated a stakeholder engagement on 18 February 2025 with large taxpayer groups to prepare for the upcoming pilot phase of the Merchant Buyer Solution, an e-invoicing system scheduled to launch
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EU: Parliament Tax Subcommittee meets with European Commissioner for tax, Hoekstra regrets US stance on the global Pillar Two agreement
The European Parliament's Subcommittee on Tax Matters (FISC) has convened a public meeting with Wopke Hoekstra, the European Commissioner for Taxation, on 6 February 2025. The highlights of the meeting are as follows: Pillar
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UK: HMRC simplifies e-communication rules for tax filings
The UK’s tax authority, His Majesty’s Revenue and Customs (HMRC), has introduced new rules that will take effect on 11 March 2025. These rules aim to prevent minor errors in electronic tax submissions from causing issues. The UK’s tax
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Hong Kong announces 2025-26 budget, proposes reducing profits tax amongst other measures
Hong Kong Financial Secretary Paul Chan delivered the 2025-26 budget on 26 February 2025, which included various tax measures such as reducing profits tax, salaries tax and tax under personal assessment; raising the maximum value of properties
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New Zealand: Government announces overhaul of overseas investment rules to boost growth
The Government has unveiled a long-anticipated reform of New Zealand’s foreign investment laws, streamlining the process and ensuring most applications are approved within 15 days. Associate Finance Minister David Seymour has announced the
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Switzerland: Cabinet approves decree to expand AEOI to crypto-assets
The Swiss Federal Council has approved a decree to expand the automatic exchange of information (AEOI) on financial accounts, adopting the OECD’s new crypto-asset reporting standards on 19 February 2025. The changes include updating national
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Malaysia announces new deadlines for e-invoicing compliance
The Inland Revenue Board of Malaysia (IRBM) has released updates regarding electronic invoicing (e-invoicing) guidelines on 21 February 2025. These include revised versions of the e-invoice guideline (version 4.2) and the e-invoice specific
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Pakistan introduces mandatory e-invoicing for businesses
Pakistan's Federal Board of Revenue (FBR) announced new rules requiring all registered businesses to electronically link their fiscal devices with the tax agency on 29 January 2025. Pakistan has rolled out a new electronic invoicing system,
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Greece updates WHT and digital transaction fee declarations
The Greece Public Revenue Authority has introduced updated declarations for withholding tax (WHT) and digital transaction fees, as outlined in Decision 1017/2025. The decision was published in the Government Gazette on 12 February 2025. These
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France publishes updated list of participating and reportable jurisdictions for CRS purposes
France has updated its list of participating and reportable jurisdictions under the Common Reporting Standard (CRS), effective from the 2024 tax year. The recent amendments include the addition of Armenia, Georgia, Moldova, and Ukraine to both
See MoreWTO Working Paper: Evolution of Preferential Trade Under Regional Trade Agreements
A WTO working paper of 7 February 2025, written by Rohini Acharya and Thakur Parajuli has the title The Evolution of Preferential Trade Under Regional Trade Agreements: Has Anything Changed? The paper looks at the question of whether the share of
See MoreEU: Commission releases Q&A on US tariff policy
The European Commission (EC) released the questions and answers on the US reciprocal tariff policy in response to a memorandum from the Trump administration on 18 February 2024. These Q&As introduce the "Fair and Reciprocal Plan" to reduce the
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OECD releases consolidated report on Amount B
The Organisation for Economic Cooperation and Development (OECD) has published a comprehensive report on Amount B on 24 February 2025. As part of the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy
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Turkey: Tax Authority updates inflation adjustment guidelines for 2025 provisional tax periods
Turkey's Revenue Administration published Tax Procedure General Communiqué No. 582 in the Official Gazette on 15 February 2025. This update sets new guidelines for taxpayers regarding inflation adjustments in provisional tax periods. According to
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Denmark introduces tax refunds for CO2 capture
Denmark’s minister of taxation has signed a new Executive Order No. 1504/2024 on 10 December 2024, offering tax refunds for CO2 capture and storage facilities. The order aims to simplify the refund process and promote carbon capture
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Colombia unveils new temporary taxes to address internal crisis
The Colombian National Government issued Decree 175, introducing three new taxes to raise over COP 1 trillion to address the crisis in Catatumbo and other areas affected by public order disturbances on 14 February 2025. A 19% VAT will be applied
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