Nigeria gazettes tax reform acts, updates corporate and minimum effective tax rates
The Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025, which will take effect on 1 January 2026, as well as the Nigeria Revenue Service (Establishment) Act 2025 and the Joint Revenue Board (Establishment) Act, which came into force on
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Taiwan: MoF revises annual sales threshold for offshore e-service tax registration
Taiwan’s Ministry of Finance has set a new TWD 600,000 annual sales threshold for offshore electronic service providers to register for tax. Taiwan’s Ministry of Finance has announced guidance on the yearly sales threshold required for
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Russia: Central Bank maintains foreign cash restrictions amid sanctions
Russia’s central bank maintains foreign cash limits under sanctions. The Bank of Russia maintains restrictions on cash currency in connection with the sanctions in force against our country, which prohibit domestic financial institutions from
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Singapore: IRAS publishes updated FAQs on GST registration obligations
IRAS updated its FAQs on 28 August 2025 to clarify GST registration requirements for businesses.= The Inland Revenue Authority of Singapore has updated its guidance on Do I need to register for GST on 28 August 2025. This includes new and
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Ireland: Revenue updates guidance on Irish real estate fund regime
Revenue updates guidance on Irish Real Estate Funds. Irish Revenue has released eBrief No. 166/25 on 5 September 2025, announcing revisions to the Tax and Duty Manual, Part 27-01b-02, concerning the administration of the Irish Real Estate Fund
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Taiwan extends deadline for foreign tax treaty applications
Taiwan’s Ministry of Finance clarifies that foreign taxpayers can now apply for income tax treaty benefits up to ten years from tax payment, subject to treaty-specific rules. Taiwan’s Ministry of Finance has released a statement providing
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EU Parliament backs major tobacco tax reform to advance public health
The Briefing concludes that the reform aims to reduce tobacco use, curb cross-border distortions, and combat illicit trade through updated rates, harmonised rules for new nicotine products, and an automatic adjustment mechanism. The European
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Turkey issues general communiqué on corporate tax amendments
Turkey clarifies corporate tax reductions for certified investments in new Communiqué No. 24. The Ministry of Treasury and Finance issued General Communiqué No. 24 on 4 September 2025, amending the General Communiqué on Corporate Tax (No.
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UK: Treasury consults on draft amendments to money laundering regulations
The deadline for sending feedback is 30 September 2025. The UK Treasury launched a consultation on 2 September 2025 on the draft Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations SI 2025. Feedback is
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OECD extends comment period on copper pricing toolkit
The deadline for submitting comments has been extended to 17 September 2025. The OECD announced an extension for public comments on its draft toolkit in August 2025, designed to help developing countries address transfer pricing challenges in
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India announces ‘next-generation GST’
The aim is to simplify India’s indirect tax framework, improve ease of doing business, and make goods and services more affordable for citizens across all sectors. The new rates are set to come into effect on 22 September 2025. The Press
See MoreTaiwan: Taxpayers may provide a third party’s property as guarantee for applying for writing off the registration of disposal prohibition
Taiwan’s tax authorities allow taxpayers to provide third-party assets as collateral to remove a property disposal prohibition. The National Taxation Bureau of Taipei, Ministry of Finance, states that taxpayers who are prohibited from disposing
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US: Colorado ends federal pass-through deduction link, cracks down on tax havens to balance “one big beautiful bill” effects
Colorado will implement tax reforms, including decoupling from the federal 20% pass-through deduction and expanding tax haven jurisdictions, to address corporate tax loopholes and generate nearly USD 250 million in revenue. Colorado, under
See MoreEU: Tax Working Party to review tobacco tax directive reforms
The indirect taxation subgroup addresses taxation issues, including VAT, excise duties, energy taxation, financial transaction tax, and administrative cooperation. The Working Party on Tax Questions (Indirect Taxation), a preparatory body of the
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Australia: ATO issues updated monthly foreign exchange rates for the 2025–26 income year, covering August 2025
The ATO has updated its foreign exchange rate guidance, including monthly exchange rates for 1 July 2025 to 30 June 2026, which covers the rates for August 2025. The ATO has updated its foreign exchange rate guidance, which includes monthly
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New Zealand: IR initiates consultation on shortfall penalty guidance updates
The deadline for sending comments in 31 October 2025. New Zealand’s Inland Revenue (IR) has launched a consultation on 29 August 2025 regarding the update and replacement of the existing interpretation statements on the shortfall penalties for
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Ireland: Revenue issues revised guidance on engaging experts for R&D tax credit audit
Irish Revenue updates guidance on appointing independent experts for R&D tax credit audits, reflecting the new panel effective 8 August 2025 and its two-year term. Irish Revenue released eBrief No. 165/25 on 28 August 2025, announcing
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Poland moves to centralise tax ruling publications
The draft, published 1 September 2025 for a 7-day public consultation, will apply to rulings from early 2025 and take effect three months after publication. Poland’s Ministry of Finance and Economy proposed a draft amendment (ref. UDER91) to
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