Turkey releases guide on mandatory transaction documentation
Turkey has released a new guide outlining the requirement for taxpayers and non-taxpayers, including end consumers, to document collections and payments exceeding 30,000 TL. These transactions must be recorded through documents issued by banks,
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Ireland: Revenue updates guidance on digital games tax
Irish Revenue has released eBrief No. 015/25 on 21 January 2025, providing updated guidance on the Section 481A Digital Games Corporation Tax Credit. Tax and Duty Manual Part 15-02-07 - Section 481A Digital Games Corporation Tax Credit - has been
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Russia clarifies tax implications of dividends paid in property
Russia's Ministry of Finance has issued guidance Letter No. 03-07-11/121626 on the corporate income tax and VAT implications of dividends distributed in the form of property. The letter confirms that transferring ownership of assets to
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Egypt: House of Representatives approves amendments to unified tax procedures law
The Egyptian House of Representatives approved a draft law to amend provisions of the Unified Tax Procedures Law (Law No. 206 of 2020) On 26 January 2024,. The amendments allow the Minister of Finance or their representative to negotiate
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Egypt launches tax reform to simplify compliance and support business growth
Egypt’s Ministry of Finance launched a tax reform initiative aimed at simplifying administrative procedures, expanding the taxpayer base, and creating a more supportive environment for businesses. The reforms were developed in collaboration with
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Sweden plans reforms to R&D and expert tax incentives
Sweden is set to revise its research and development (R&D) tax incentives and expert tax relief rules to simplify administration and expand access. A government report has proposed key changes, expected to take effect on 1 January 2026. For
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Germany updates tax haven defense ordinance, removes five jurisdictions
Germany published the Third Ordinance amending the Tax Haven Defense Ordinance in the Official Gazette on 30 December 2024. The amendments reflect the EU Economic and Financial Affairs Council's 2024 decisions to remove Antigua and Barbuda, the
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Japan, Zambia sign investment agreement
The “Agreement between Japan and the Republic of Zambia for the Promotion and Protection of Investment” (Japan-Zambia Investment Agreement) was signed in Tokyo by H.E. Mr. TAKEUCHI Kazuyuki, Ambassador Extraordinary and Plenipotentiary of Japan
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UAE: MoF launches public consultation on e-Invoicing data dictionary
The UAE Ministry of Finance (MoF) has launched a public consultation on the data dictionary for electronic invoicing (e-invoicing). The consultation period will remain open until 27 February 2025. It is a structured form of invoice data that
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France approves 2025 Finance Law with new tax measures
The French Senate approved the Finance Law for 2025 on 6 February 2025, following approval by the National Assembly on 5 February. With both chambers' approval, the law is adopted, pending constitutional review. The law includes the indexation of
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Sri Lanka, UAE finalise investment protection agreement
Sri Lanka and UAE have finalised an agreement on reciprocal promotion and protection of investments between the two countries. This announcement was made by the Ministry of Foreign Affairs, Foreign Employment and Tourism on 3 February 2024. The
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Ukraine revises tax haven list in Resolution
The Ukrainian Ministry of Finance issued Resolution No. 1505 on 4 February 2025 , revising the list of tax havens for transfer pricing purposes. List of states (territories) that meet the criteria established by subparagraph 39.2.1.2 of
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Taiwan proposes extension of tax refund claim period under income tax treaties
Taiwan’s Ministry of Finance (MOF) has proposed a draft amendment to extend the tax refund application period under income tax treaties from five years to ten years. This change aims to streamline regulations and provide taxpayers with
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UAE: FTA offers penalty exemption for tax record updates by 31 March 2025
The UAE Federal Tax Authority has issued a notice on 4 February 2025 encouraging taxpayers to update their records by 31 March 2025, allowing them to benefit from a penalty exemption during the grace period. The Federal Tax Authority (FTA) has
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US: House Ways and Means Committee flags issues with OECD tax plan, backs counter measures
Republican members of the US House Ways and Means Committee have addressed a letter to President Donald Trump, outlining their concerns with Pillar 1 and Pillar 2 of the OECD's proposed two-pillar solution. The letter supports Trump’s recent
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Indonesia: Core Tax Administration System (CTAS) comes into effect
Indonesia’s Regulation No. 81 of 2024, which implements the Core Tax Administration System (CTAS), went into effect on 1 January 2025. CTAS is the Directorate General of Taxation's (DGT) comprehensive system streamlining key tax administration
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US withdraws from UN global tax cooperation negotiations
The US has withdrawn from UN discussions on a new Framework Convention on International Tax Cooperation. The decision was announced by Jonathan Shrier, the Acting US Representative to the UN Economic and Social Council, during the meeting of the
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UK: House of Commons votes to enshrine fiscal rules in law, strengthening economic stability
The House of Commons voted to enshrine the Charter for Budget Responsibility and the new fiscal rules into law on Wednesday, 29 January 2025. These fiscal rules provide the stability which underpins the Plan for Change and the Government’s
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