UK introduces reserved investor fund with tax-transparent status
The UK Government published the final Co-ownership Contractual Schemes (Tax) Regulations 2025 on 25 February 2025, introducing the Reserved Investor Fund (RIF), effective from 19 March 2025. The RIF is an unauthorised contractual scheme designed for
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Singapore: IRAS issues ruling on taxability of feeder fund redemption gains
Singapore's Inland Revenue Authority issued Ruling Summary No. 2/2025 regarding the taxability of gains from feeder fund redemption on 3 March 2025. Advance Ruling Summary No. 2/2025 1. Subject: Whether: a. the gains derived by the company
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Greece launches public consultation on capital market strengthening bill
The Greece Ministry of National Economy and Finance has opened a public consultation on a Bill titled "Strengthening the capital market" on Thursday, 27 February 2025 , which proposes new tax incentives aimed at supporting small and medium
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US to impose reciprocal tariffs on India and other countries
The US will implement reciprocal tariffs on imports from countries imposing high tariffs on US goods, including India starting 2 April 2025. President Donald Trump announced this measure during a joint session of Congress, criticising India's 100%
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Ireland introduces angel investor tax relief to boost start-ups
Irish Finance Minister Paschal Donohoe has announced the launch of Angel Investor Relief, a new tax incentive aimed at driving investment in Ireland’s innovative start-ups on 3 March 2025. The relief offers a reduced Capital Gains Tax (CGT) rate
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UK further amends Finance Bill 2024-25
The UK tax authority, HMRC, announced further amendments to the Finance Bill 2024-25 on 25 February 2025, alongside explanatory notes on the revised provisions. The amendments also include: Clause 37 introduces new sections for claiming
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Cyprus: Tax Reform Team announces tax reforms
The Cyprus Tax Reform Team presented its tax proposals to key stakeholders at the Presidential Palace on 26 February 2025. The proposals will soon be open for public consultation before being submitted to the Council of Ministers for approval and
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Turkey Publishes tax guide on donations and aid
The Turkish Revenue Administration has issued a new " Guide on Donations and Aids in Terms of Tax Legislation ", providing detailed guidance on the tax treatment of donations. It covers both in-kind and cash donations, the specific entities
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Denmark reviews draft bill on crypto-asset reporting
Denmark's parliament is reviewing draft bill L 151, submitted on 26 February 2025, to implement the EU's DAC8 directive. The bill introduces new reporting and due diligence requirements for crypto-asset service providers, aligning with the
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Nigeria to launch pilot phase of e-invoicing system
Nigeria’s Federal Inland Revenue Service (FIRS) has initiated a stakeholder engagement on 18 February 2025 with large taxpayer groups to prepare for the upcoming pilot phase of the Merchant Buyer Solution, an e-invoicing system scheduled to launch
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New Zealand: Government announces overhaul of overseas investment rules to boost growth
The Government has unveiled a long-anticipated reform of New Zealand’s foreign investment laws, streamlining the process and ensuring most applications are approved within 15 days. Associate Finance Minister David Seymour has announced the
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Malaysia announces new deadlines for e-invoicing compliance
The Inland Revenue Board of Malaysia (IRBM) has released updates regarding electronic invoicing (e-invoicing) guidelines on 21 February 2025. These include revised versions of the e-invoice guideline (version 4.2) and the e-invoice specific
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France publishes updated list of participating and reportable jurisdictions for CRS purposes
France has updated its list of participating and reportable jurisdictions under the Common Reporting Standard (CRS), effective from the 2024 tax year. The recent amendments include the addition of Armenia, Georgia, Moldova, and Ukraine to both
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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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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
See MoreUS: 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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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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