Denmark consults draft bill for crypto-asset reporting
The Danish Ministry of Taxation has opened a public consultation on a draft bill to implement Council Directive (EU) 2023/2226 (DAC8) and the Crypto-Asset Reporting Framework (CARF). The consultation is set to conclude on 13 December 2024. The
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European Commission applauds Greece’s pledge to align tonnage tax with state aid rules
The European Commission in a release on 25 November 2024 announced that the acceptance by Greece of the appropriate measures proposed by the Commission to bring the existing Greek tonnage tax scheme and related measures in line with State aid
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Russia clarifies taxation of international shipping under 1997 treaty with Turkey
The Russian Ministry of Finance (MoF) issued Guidance Letter No. 03-08-09/96760 on 2 November 2024, clarifying the tax treatment of payments related to the operation of shipping vessels in international transport, in accordance with the 1997 tax
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South Africa consults taxation of alcoholic beverages, phase two of carbon tax, tax treatment of collective investment schemes
South Africa's National Treasury has unveiled three discussion papers for public consultation, on 13 November 2024, focusing on carbon tax, alcohol taxation, and the tax treatment of collective investment schemes. These proposals, aimed at refining
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Slovak Republic consults excise duty law amendment
The Slovak Republic’s Ministry of Finance has launched a public consultation on a proposed bill (No. MF/002387/2024-732); which aims to amend the Excise Duty Act concerning electricity, coal, and natural gas, as well as the Excise Duty Act on
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Norway considers crypto ownership reporting rules
Norway’s Ministry of Finance unveiled a draft bill, which introduces reporting obligations for third parties serving as crypto asset exchanges or custodians, for public consultation on 15 November 2024. The consultation is set to conclude on 15
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G20 leaders back Two-Pillar global tax reform, fair taxation for the ultra-wealthy individuals
The G20 Leaders' Declaration was released after a summit, which took place from 18–19 November 2024 in Rio de Janeiro, Brazil. Regarding taxation, the Declaration outlines the following points: We endorse the Rio de Janeiro G20 Ministerial
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Russia to tax cryptocurrency transactions
The Russian Ministry of Finance announced that the government has approved proposed amendments to a bill regarding the taxation of income and expenses related to cryptocurrency transactions and mining. A report by the Russian news agency Interfax
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Singapore publishes response summary on draft GST guide for implementing invoiceNow for GST-registered businesses
The Inland Revenue Authority of Singapore (IRAS) has released a summary of responses to the draft e-Tax guide on adopting InvoiceNow, an e-invoicing network built on the Peppol framework, for GST-registered businesses. IRAS conducted a Public
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Ireland: Revenue clarifies interpretation of ‘Control’ in updated tax manual
Irish Revenue has published eBrief No. 277/24 on 12 November 2024, which includes an update to the Tax and Duty Manual Part 01-00-05, providing clarification on the interpretation of "control" in certain contexts. The purpose of this manual is to
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India: CBDT launches campaign to ensure accurate disclosure of foreign assets for AY 2024-25
The Indian Central Board of Direct Taxes (CBDT) launched a Compliance and Awareness Campaign on Saturday, 16 November 2024, to ensure resident taxpayers fully disclose foreign income in their income tax returns (ITRs) for the Assessment Year (AY)
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UAE: FTA publishes guide on private clarifications
The UAE Federal Tax Authority (FTA) has published a detailed guide on Private Clarifications (Private Clarifications - TPGPC1). The following federal taxes apply in the UAE: Excise Tax – introduced with effect from 1 October 2017 VAT
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Dominican Republic consults end of tax exemptions on issuance from cheques, electronic transfers
The Dominican Republic's Directorate General of Internal Revenue (DGII), under instructions from the Ministry of Finance, has opened a public consultation regarding a draft regulation aimed at repealing all administrative exemptions from the 0.0015%
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OECD unveils initiatives to enhance digital transformation, tax certainty, capacity building partnerships
The Organisation for Economic Cooperation and Development (OECD) has announced that during the 17th annual plenary meetings of the Forum on Tax Administration, tax administrations reached a consensus on a series of practical initiatives. These
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Vietnam: Ministry of Finance consults draft decree for global minimum tax rules
Vietnam's Ministry of Finance has initiated a public consultation on a draft decree to implement Resolution No. 107/2023/QH15, outlining detailed guidelines for the implementation of GloBE rules. It is expected to be finalised and issued by December
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OECD releases Mutual agreement procedure (MAP), advance pricing agreement (APA) statistics for 2023
The Organisation for Economic Co-operation and Development (OECD) published the 2023 Mutual Agreement Procedure (MAP) Statistics and Advance Pricing Agreement (APA) Statistics on 15 November 2024. The OECD also presented MAP and APA awards to tax
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EU: European Parliament backs FASTER initiative
The European Parliament's plenary session adopted its opinion on 14 November 2024 after a consultation on the proposed Council Directive for the Faster and Safer Relief of Excess Withholding Taxes (FASTER). The opinion endorses the compromise
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OECD presents tax report to G20 leaders in Brazil
The OECD has released the OECD Secretary-General Tax Report to G20 Leaders, prepared for the G20 Leaders' Summit taking place on 18-19 November 2024, in Rio de Janeiro, Brazil. This report sets out recent developments in international tax reform,
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