EU urges Netherlands to align investment fund tax rules with EU law
The European Commission issued a reasoned opinion to the Netherlands for not aligning its tax levy reduction scheme with the free movement of capital under EU and EEA agreements. The European Commission issued a reasoned opinion to the
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EU to shift VAT liability on imported distance sales to non-EU sellers, platforms
The change aims to promote the use of the VAT Import One-Stop-Shop (IOSS), enabling VAT registration in a single EU state for sales across the EU. The EU General Affairs Council adopted amendments to the VAT directive during a meeting on 18
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G20 finance ministers, central bank governors commit to ongoing discussions on Pillar Two global minimum tax concerns
They expressed their commitment to continuing constructive engagement to address concerns surrounding the Pillar Two global minimum taxes. The G20 Finance Ministers and Central Bank Governors issued a Communique following their meeting held on
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EU unveils 2028–2034 budget proposal, includes CORE corporate contribution
The framework provides Europe with a long-term investment budget to support its ambitions for independence, prosperity, security, and economic growth over the next decade. The European Commission presented its 2028-2034 budget proposal for an
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Colombia clarifies tax on indirect transfers of free trade zone branches
The Ruling clarifies tax rules for indirect transfers of Free Trade Zone branches, excluding preferential rates. The Colombian tax authority (DIAN) issued Ruling 7858 int 924 on 18 June 2025, clarifying the taxation of indirect transfers
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Italy: Council of Ministers approves additional supplementary and corrective amendments to tax reform
The bill simplifies regulations, enhances transparency and fairness, revises the Taxpayer's Bill of Rights, and clarifies the self-assessment process with added sanctions. Italy’s Council of Ministers has preliminarily approved a Legislative
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EU revises list of high-risk third countries for money laundering and terrorist financing
The regulation goes into effect on 5 August 2025. The EU published the Commission Delegated Regulation (EU) 2025/1184 on 16 July 2025, updating Regulation 2016/1675 by revising the list of high-risk third countries with anti-money laundering
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EU publishes implementing regulation to facilitate automatic exchange of tax information under DAC9
The EU's implementing regulation under DAC9 aims to enable automatic information exchange between Member States through technical solutions. The European Commission has published the implementing regulation in the Official Journal of the EU
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Taiwan clarifies rules on foreign tax credit eligibility
Unclaimed treaty relief blocks foreign tax credit in Taiwan Taiwan’s Ministry of Finance has clarified that profit-seeking enterprises are not eligible to claim a foreign tax credit for excess taxes paid in treaty jurisdictions if they do not
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Ireland: Irish Revenue revises schedule of revenue powers
The brief confirms the updates to the Tax and Duty Manual (TDM) as of July 2025. The Irish Revenue has published eBrief No. 135/25 on 15 July 2025 about updates to Tax and Duty Manual (TDM) 38-04-15 Schedule of Powers. Revenue eBrief No.
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Mexico updates final lists of taxpayers linked to fake transactions
The updated lists of taxpayers suspected of issuing invalid invoices due to non-existent transactions require affected parties to provide proof or amend tax returns within 30 days. Mexico’s Tax Administration (SAT) has revised the final lists
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Turkey extends tax payment deadlines in earthquake-hit regions
Turkey delays tax debt repayments for earthquake-affected taxpayers until after November 2025. Turkey's Revenue Administration announced the enactment of Presidential Decision No. 10700 on 14 July 2025, extending the payment periods for
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Colombia sets shareholder loan rate at 9.25% for 2025
Colombia has lowered the deemed minimum interest rate on shareholder and partner loans to 9.25% for the 2025 tax year, down from 12.69% in 2024. Colombia’s Ministry of Finance has issued Decree No. 0771 on 7 July 2025, establishing a deemed
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Bangladesh, US to hold final tariff negotiations before August 25
Bangladesh and the US to hold final tariff negotiations next week to avert 35% export duty. Bangladesh will commence a third and final round of negotiations with the US next week to avert a 35% tariff on its exports, scheduled to take effect on 1
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EU warns of retaliation if US proceed with tariffs from August
Following a meeting in Brussels, EU foreign and trade ministers expressed frustration with Washington’s lack of agreement and signalled readiness to respond if negotiations break down. The European Union (EU) on 14 July 2025 warned that it may
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Netherlands : Senate approves box 3 Rebuttal scheme
The Dutch Senate approved the Box 3 Rebuttal Scheme on 8 July 2025, allowing taxpayers to prove actual returns on savings and investments. The Dutch Senate approved the Box 3 Rebuttal scheme on 8 July 2025, allowing taxpayers to prove the actual
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Ireland updates carbon tax and horticultural relief rates from May 2025
The eBrief updates tax guides to reflect revised mineral oil, solid fuel carbon, and natural gas carbon tax rates, including updated relief rates, contact details, and manual titles. The Irish Revenue has published Revenue eBrief No. 132/25,
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UAE: FTA offers penalty waiver for late tax registration
The FTA clarified conditions for waiving or refunding penalties for late corporate tax registration, requiring returns or declarations to be filed within seven months of the first tax period. The UAE Federal Tax Authority (FTA) has released
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