Singapore updates GST e-tax guides on prospective registration and gross margin scheme
The updated GST e-Tax Guides will revise registration timelines and ease GMS adoption requirements. The Inland Revenue Authority of Singapore (IRAS) has revised multiple Goods and Services Tax (GST) e-Tax Guides, effective from 1 July 2025,
See More
US: Trump signs ‘One Big Beautiful Bill’ into law
Trump signed the “One Big Beautiful Bill” into law on 4 July 2025, which makes his 2017 tax cuts permanent and introduces new tax breaks promised during his 2024 campaign. US President Donald Trump signed a major tax and spending bill dubbed
See More
Norway proposes phased B2B e-invoicing and digital bookkeeping mandate
The deadline for sending feedback is 31 October 2025. Norway's Ministry of Finance has initiated a public consultation on 1 July 2025, regarding the proposed mandatory digital bookkeeping and B2B e-invoicing for all domestic and foreign entities
See More
UK: Treasury enacts cryptoasset reporting regulations
The Regulations implement OECD's Crypto-Asset Reporting Framework (CARF) and will come into force on 1 January 2026. The UK Treasury has enacted Regulations 2025 (SI 2025/744) on 24 June 2025; mandating UK reporting crypto asset service
See More
US: House Republicans pass ‘One Big Beautiful Bill’ through Congress
President Donald Trump's tax-cut legislation, dubbed "One Big Beautiful Bill," was narrowly approved by the House on 3 July, and is set to be signed into law on 4 July 2025. President Donald Trump's tax-cut legislation passed its final hurdle in
See More
US to impose 20% tariff on Vietnamese exports
The US will impose a 20% tariff on many Vietnamese exports, with trans-shipped goods facing 40%. President Donald Trump announced on 2 July 2025 that the US will apply a 20% tariff on many Vietnamese exports instead of the previously proposed
See More
Singapore: IRAS issues 8th edition e-tax guide on income tax treatment of REIT ETFs
IRAS’s eighth edition of its e-tax guide outlines the income tax treatment of REIT ETFs receiving distributions from S-REITs and qualifying for tax concession schemes. Singapore’s Inland Revenue Authority (IRAS) released the eighth edition
See More
Uganda: President signs broad tax reform bills, effective July 2025
The President approved the amendment of several taxation bills, introducing reforms to enhance revenue collection, starting 1 July 2025. Uganda’s President assented to several tax amendment bills on 30 June 2025, which will take effect on 1
See More
New Zealand consults on draft 2025 long-term insights briefing
New Zealand Inland Revenue is seeking public feedback on its draft 2025 Long-Term Insights Briefing, which explores the impact of fiscal pressures on the tax system and options to strengthen fiscal resilience. New Zealand Inland Revenue has
See More
UN Tax Cooperation Framework releases key highlights from first virtual stakeholder session
The sessions aim to improve stakeholder engagement and transparency in advancing the Convention and its early protocols through topic-focused meetings. The Secretariat of the UN Framework Convention on International Tax Cooperation (UNFTC) is
See More
US: Senate passes ‘One Big Beautiful Bill’
The bill permanently extends Trump's 2017 tax cuts, adds small business tax relief, introduces new breaks, boosts military and immigration spending, repeals green-energy incentives, and adds USD 3.3 trillion to the national debt US Senate
See More
Ecuador grants tax amnesty for pre-2025 debts under integrity law
Ecuador’s new tax cancels interest and fines on debts before 31 December 2024, if the principal is fully paid by year-end. Ecuador has enacted a tax amnesty that cancels interest and fines on tax debts incurred before 31 December
See More
US: Senate bill accelerates phaseout of renewable tax credits, introduces new levy
The US Senate's upcoming budget bill aims to eliminate wind and solar tax credits from 2005 and introduce a new tax on projects with Chinese components starting after 31 December 2027. The US Senate's latest budget bill, set for a potential vote
See More
Nigeria: President approves four new tax reform bills
The new legislation comprises the Nigeria Tax Act, the Nigeria Tax Administration Act, the National Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act. Nigeria’s President Bola Tinubu has signed four major tax
See More
US: Treasury releases G7 statement on global minimum tax exemption for US-headquartered companies
The US Treasury announced the G7's agreement to exempt US companies from Pillar Two taxes, with plans to expand this exemption globally through the OECD-G20 Inclusive Framework. The US Treasury published the G7 Statement on Global Minimum Tax on
See More
Vietnam: National Assembly approves resolution to establish international financial centres (IFCs) in Ho Chi Minh City and Da Nang City
Vietnam will establish international financial centres in Ho Chi Minh City and Da Nang from 1 September 2025, offering tax incentives, land benefits, and flexible dispute resolution to attract global investment. Vietnam’s National Assembly
See More
Singapore: Customs mandates accurate origin declarations in permit applications
Singapore Customs mandates accurate declaration of "Country/Region of Origin" in permit applications, detailing origin criteria under trade agreements and non-preferential rules, with penalties for non-compliance. Singapore Customs issued
See More
Singapore: IRAS updates guidance on GST registration based on prospective view
IRAS updates GST registration rules, introducing a two-month grace period for businesses forecasting turnover above SGD 1 million from July 2025. The Inland Revenue Authority of Singapore (IRAS) has updated its Goods and Services Tax (GST)
See More