UAE: Corporate tax registration deadline for juridical persons with licences issued in December set for before end of 2024
The UAE Federal Tax Authority (FTA) has announced that all Resident Juridical Persons with licenses issued in December, regardless of the year of issuance, must submit their Corporate Tax registration applications by 31 December 2024. In a press
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Poland: Ministry of Finance designates Head of the Kujawsko-Pomorskie Tax Office as authority for global tax compliance
The Polish Ministry of Finance has announced designating the Head of the Kujawsko-Pomorskie Tax Office in Bydgoszcz as the sole authority responsible for matters related to the global minimum tax. This decision, outlined in a draft regulation
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Ireland: Revenue clarifies interest deduction restrictions for intercompany loans
The Irish Revenue Commissioners released eBrief No. 289/24 on 27 November 2024, clarifying restrictions surrounding interest deductions for intercompany loans. The update explains which subsidiary companies are no longer able to claim deductions
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OECD updates FAQs on ICAP, clarifies applications may be submitted year-round
The Organisation for Economic Cooperation and Development (OECD) released an updated version of its Frequently Asked Questions (FAQs) regarding the International Compliance Assurance Programme (ICAP) in December 2024. ICAP is a voluntary
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US: Congressional Research Service publishes report on economic impact of expiring tax cuts
The US Congressional Research Service (CRS) has released a report titled Expiring Provisions of P.L. 115-97 (the Tax Cuts and Jobs Act): Economic Issues on 26 November 2024. Most provisions affecting the individual income tax in the 2017 tax law
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EU proposes permanent digital trade certificates with Turkey
The European Union (EU) proposed a new measure to solidify the use of electronic A.TR movement certificates in its customs partnership with Turkey on 29 November 2024. Originally introduced during the COVID-19 pandemic as a temporary solution to
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Kazakhstan: National Bank raises interest base rate
The National Bank of Kazakhstan has raised the base interest rate from 14.25% to 15.25%, effective from 2 December 2024. The base rate determines late payment interest, which is calculated as 1.25 times the base rate, divided by 365 to find the
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OECD: Norway signs multilateral agreement on exchange of information on CRS avoidance
A recent OECD update reported that Norway has signed the Multilateral Competent Authority Agreement on the Automatic Exchange of Information on CRS Avoidance Arrangements and Opaque Offshore Structures (MDR-MCAA) on 26 November 2024. This
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Dominican Republic clarifies taxation of foreign dividends
The Directorate General of Internal Revenue (DGII) of the Dominican Republic issued a consultation letter offering clarification regarding the taxation of foreign dividends received by residents on 15 August 2024. The letter clarifies that:
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Singapore: IRAS issues updated e-tax guide on the GST advance ruling system
The Inland Revenue Authority of Singapore (IRAS) has published an updated version of its e-Tax guide GST: Advance Ruling System (Tenth Edition) on 15 July 2024. This e-Tax Guide explains the GST advance ruling system and the application
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Peru simplifies tax residency certification with new resolution
Peru has introduced Resolution No. 000141-2024/SUNAT, published in the Official Gazette on 14 July 2024, updated to the procedures governing residence certificates for tax treaty applications. This resolution amends the existing Resolution No.
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UK introduces statutory levy on gambling operators
The government announced taking its first steps towards strengthening gambling harm legislation on 27 November 2024, confirming plans to implement a statutory levy on gambling profits and online slot stake limits to help tackle the issue of gambling
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Hong Kong lowers interest rate on tax reserve certificates
The Hong Kong Inland Revenue Department announced on 29 November 2024 that starting from 2 December 2024, the new annual rate of interest payable on Tax Reserve Certificates will be 0.5500% against the current rate of 0.7167%; i.e. the new rate will
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South Africa: SARS updates interest rate tables, reduces all rates
The South African Revenue Service (SARS) has published updated interest rate tables on 22 November 2024. Interest rates charged in terms of the legislation administered by SARS are split into three main categories, namely: interest charged on
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UN approves terms for global tax cooperation framework
The UN has issued a release announcing that the Second Committee (Economic and Financial) has concluded its seventy-ninth session on 27 November 2024. The Second Committee has approved four draft resolutions and two draft decisions on a range of
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Costa Rica sets new interest rate for taxes and customs
Costa Rica’s General Directorate of Finance (DGH) and the General Directorate of Customs (DGA) released Resolution MH-DGH-RES-0054-2024/MH-DGA-RES-1817-2024 which establishes a new interest rate of 8.43% applicable to tax and customs
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Colombia consults new tax haven list
The Ministry of Finance in Colombia has released a draft decree for public consultation, proposing a new list of 25 jurisdictions classified as non-cooperative due to their low or zero taxation (commonly referred to as tax havens). The deadline
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OECD releases new reports on automatic exchange of information, global forum activities
The Organisation for Economic Co-operation and Development (OECD) is holding its 17th Annual Plenary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) which started on 26 November 2024 in
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