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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Saudi Arabia: ZATCA sets criteria for 20th e-invoicing integration phase
The Saudi Zakat, Tax, and Customs Authority (ZATCA) announced the criteria for selecting taxpayers in the 20th wave of the integration phase for the country's new E-Invoicing (FATOORA) requirements. The 20th wave targets all taxpayers whose
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UAE consults on implementing e-invoicing
The UAE Ministry of Finance has released a consultation document outlining plans to implement electronic invoicing (e-invoicing). The consultation seeks to: Establish a common understanding of data elements used in e-invoices across business
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OECD warns against Ireland’s heavy reliance on tax revenue from MNEs
The OECD published Survey of Ireland 2025 on 12 February 2025, warning Ireland’s heavy reliance on tax revenue from multinational companies and a narrow tax base could be risky. The survey also points out that one-third of income earners in
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Bosnia and Herzegovina mandates tax-exempt financial assistance for employees
Bosnia and Herzegovina published Official Gazette No. 8/25, on 5 February 2025, introducing a new regulation to help reduce the impact of rising inflation on citizens. Employers can now provide up to BAM 450 in monthly financial assistance to
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Australia urges top privately owned wealthy groups to document processes to manage tax issues, risks
The Australian Taxation Office (ATO) has issued a statement urging privately owned and wealthy groups to document their processes for identifying and managing tax issues and risks on 7 February 2025. ATO’s ongoing engagement with groups in the
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US: Trump Administration unveils plan to reduce trade deficit
The Trump Administration has released a memorandum introducing the "Fair and Reciprocal Plan," aimed at reducing the trade deficit and promoting fairness in international trade on 13 February 2025. The letter states that for many years, the
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UK: Treasury Forms global group to assess CBAM impact
The UK Treasury has announced the need for a UK Carbon Border Adjustment Mechanism (CBAM) group to gather insights from international partners on the UK CBAM and provide updates on 11 February 2025. The Autumn Budget 2024 confirmed that the
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UK launches consultation on e-invoicing
The UK's tax authority, His Majesty's Revenue and Customs (HMRC) launched a 12-week public consultation (Promoting electronic invoicing across UK businesses and the public sector) regarding the adoption of electronic invoicing (e-invoicing) across
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Turkey issues new guidelines on electronic product certificates
The Turkish Ministry of Treasury and Finance has released General Communiqué No. 579 on 8 January 2025, amending General Communiqué No. 452 on the Tax Procedure Law (TPL). The amendments introduce expanded documentation and reporting
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Luxembourg adopts bill on cross-border company rules
Luxembourg’s Chamber of Deputies approved a draft bill on 4 February 2025 implementing the EU directive on cross-border conversions, mergers, and divisions. The bill introduces common procedures, strengthens protections for employees,
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UK issues new alcohol duty regulations
The UK's tax authority, His Majesty's Revenue and Customs (HMRC) has published new regulations and updated guidance on alcohol duty, detailing implementation rules under the Finance (No. 2) Act 2023. The Alcohol Duty Regulations SI 2025/96,
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Colombia: DIAN confirms RUT does not expire, only updated for specific changes
Colombia’s National Tax Authority (DIAN) has confirmed that the Unique Tax Registry (RUT) remains valid indefinitely and only needs to be updated if a taxpayer changes their residence, phone number, email, economic activity, tax obligations, or
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Russia exempts CFC profits from IHC tax base until 2029
Russia’s Ministry of Finance has clarified that international holding companies are not required to include the profits of their controlled foreign companies (CFCs) in their corporate income tax base for tax periods ending before 1 January
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UK Public Accounts Committee highlights underestimated tax evasion costs
The UK Parliament's Public Accounts Committee has published a report on 12 February 2025 cautioning that the actual cost of tax evasion is probably being underestimated. HMRC not sufficiently curious on true scale of evasion, with no strategy for
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