Poland: KAS intensifies measures against tax avoidance, profit outflows
The Ministry of Finance intends to set up a dedicated centre at the Małopolska Customs and Tax Office in Kraków to carry out its plans. Poland’s Ministry of Finance announced a new initiative on 31 July 2025 to address aggressive tax planning
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EU to remove tariffs on UK steel under restored quota system
The initiative will allow the UK to export up to 27,000 tonnes of steel to the EU per quarter, tariff-free, restoring its quota to pre-2022 levels. The EU will remove tariffs on key British steel products under a quota system starting 1 August
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OECD releases updated reporting formats for global minimum tax, CARF, issues new FAQs on CARF, CRS
The OECD has released XML Schemas and User Guides to facilitate reporting and information exchange under the Global Minimum Tax and CARF. As part of ongoing efforts to enhance tax transparency and improve international tax compliance, the OECD
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Turkey revises special consumption tax rates for EVs, other vehicles
The special consumption tax rates for passenger cars, electric vehicles, and off-road vehicles take effect on 1 August 2025. Turkey has published Presidential Decision No. 10115 in the Official Gazette on 24 July 2025, which revises the Special
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Egypt: Tax Authority expands list of taxpayers required to issue electronic receipts for B2C transaction
The Decision mandates that taxpayers listed in the annex section begin issuing electronic tax receipts for goods and services sold to end consumers starting September of 2025. The Egyptian Tax Authority has issued Decision No. 281 of 2025 on 26
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Greece: Parliament approves bill mandating B2B e-invoicing
Greece’s parliament approved a new bill titled “National Customs Code and Other Provisions – Pension Regulations” on 25 July 2025, which introduces mandatory electronic invoicing (e-invoicing) for business-to-business (B2B)
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Bangladesh: Government approves purchase of 220k metric tons of wheat from US to ease trade tensions
This government-to-government deal is part of Bangladesh’s efforts to reduce trade tensions with the US and avoid high tariffs on its exports. Bangladesh has approved the purchase of 220,000 metric tons of wheat from the US for USD 302.75 per
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Russia: Central Bank cuts key interest rate to 18%
New rate affects tax-related interest and penalty calculations from 25 July 2025. The Russian Central Bank reduced the key interest rate to 18% on 25 July 2025, following a prior cut from 21% to 20% on 6 June 2025. The key rate plays an
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Nigeria to enforce mandatory e-invoicing for large taxpayers starting tomorrow
All large taxpayers with annual turnovers of NGN 5 billion or more will be required to adopt mandatory electronic invoicing via the EFS. Nigeria’s national electronic invoicing (e-invoicing) regime through the Electronic Fiscal System (EFS)
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Mexico updates list of registered foreign digital service providers
Mexico’s July update lists 266 foreign digital providers registered for VAT as of 30 June 2025. Mexico’s tax administration released an updated list on 25 July 2025, identifying 266 foreign digital service providers registered for tax
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Colombia proposes comprehensive tax reforms to stimulate economy
The draft bill offers VAT exemptions for hotels and renewable energy, vehicle tax penalty discounts, debt relief for low-income electricity users, and a traffic fine amnesty through 2024. Colombia has published Bill No. 507 of 2025 in the
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Azerbaijan: Central Bank lowers key interest rate
The rate has been lowered from 7.25% to 7%, effective 24 July 2025. The Central Bank of Azerbaijan has lowered its key refinancing rate from 7.25% to 7.0%, effective 24 July 2025. The decision was based on actual inflation aligning with
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Sri Lanka releases consolidated Inland Revenue Act 2025
The consolidated version of the Inland Revenue Act reflects the recent legal amendments. The Sri Lankan Inland Revenue Department released the consolidated version of the Inland Revenue Act No. 24 of 2017 on 24 July 2025. The updated text
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Ireland: Revenue updates guidance on outbound payment defensive measures
Irish Revenue has updated its guidance on outbound payment defensive measures to reflect the 2025 legislative changes to Section 817U of the TCA, effective from 1 January 2026. Irish Revenue has published eBrief No. 139/25 announcing updates to
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US: IRS clarifies BEAT exception rules; states services cost method not mandatory, documentation essential
The IRS clarified that under BEAT rules, taxpayers may exclude the cost portion of service payments to foreign related parties using the Section 59A(d)(5) exception, even without applying the specific transfer pricing method. The US Internal
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Ireland: Revenue issues guidance on taxation of income from social media and promotional activities
Irish Revenue has issued guidance on the tax treatment and compliance obligations for income earned from social media and promotional activities under Income Tax and Corporation Tax rules. Irish Revenue released eBrief No. 138/25 on 21 July 2025
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Ireland to increase infrastructure spending by 30%
The updated National Development Plan outlines a wide-ranging strategy for infrastructure development from 2026 to 2030, focusing on housing, energy, water, and transport. Ireland’s government has announced a major boost to infrastructure
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Belgium: Chamber of Deputies approve participation exemption changes, exit tax rules, other tax reforms
From 2026, Belgium's tax changes include stricter participation exemption rules, exit tax on cross-border reorganisations, a permanent 6% VAT for residential demolition/reconstruction, and higher VAT on coal and fossil fuel boilers. The Belgian
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