Nigeria enacts law renaming FIRS to National Revenue Service (NRS)
The law aims to enhance tax compliance, increase revenue, and streamline administration to eliminate inefficiencies. Nigeria’s President Bola Tinubu signed the Nigeria Revenue Service (Establishment) Act, 2025 on 17 July 2025, which rebrands
See More
Bangladesh abolishes NBR, forms two new revenue divisions
Bangladesh’s President Shahabuddin has promulgated an ordinance dissolving the National Board of Revenue (NBR) yesterday, 12 May, replacing it with two new entities under the Ministry of Finance: Revenue Policy Division and the Revenue Management
See More
Mexico mandates select companies must also submit tax status report to National Housing Fund for Workers
Mexican taxpayers who are required, or have opted, to submit a tax audit report to the Tax Administration Service (SAT) for the 2024 fiscal year must also provide a copy of the corresponding tax situation report to the Institute of the National
See More
Bangladesh to shift tax exemption authority to parliament
Bangladesh will introduce a new policy placing full authority for tax exemptions with parliament, removing decision-making power from the government and National Board of Revenue (NBR). NBR Chairman Md Abdur Rahman Khan said the move aims to
See More
UK: HMRC launches consultation on tax certainty for major projects
The UK’s tax, payments and customs authority (HMRC) has initiated a public consultation on 26 March 2025 to gather opinions on a new process that aims to provide major projects with greater certainty regarding the tax that will apply in
See More
India proposes temporary duty on steel imports
India has proposed a temporary 12% safeguard duty on certain steel products for 200 days, to protect its domestic industry from the surge in imports, on 19 March 2025. The Directorate General of Trade Remedies (DGTR) cited the influx of steel
See More
OECD releases Economic Outlook Interim Report: Steering through Uncertainty
The Organization for Economic Co-operation and Development (OECD) has released the Economic Outlook Interim Report: Steering through Uncertainty on 17 March 2025. According to the report, the global economy has been resilient in 2024, but some
See More
UAE: FTA urges taxpayers to update records by March ‘25 to avoid penalties
UAE taxpayers must update their tax records by 31 March 2025 to benefit from an extended grace period, during which administrative penalties will be waived. Registrants who have not yet updated their tax records are urged to submit them before the
See More
Singapore: IRAS issues Advance Ruling 4/2025 on trade status and tax implications
The Inland Revenue Authority of Singapore has issued Advance Ruling Summary No. 4/2025 on 3 March 2025 , addressing whether a company is engaged in trade or business or operates as a passive investment holding company, along with the associated
See More
France: Tax Authority clarify foreign tax credit rules
The French tax authority issued a ruling addressing the availability of foreign tax credits (FTCs) in cases where foreign withholding taxes conflict with the provisions of a relevant tax treaty on 18 December 2024. Under French law, FTCs are only
See MoreWTO Working Paper: Impact of Digitalization on Trade Patterns
A WTO working paper published on 21 January 2025, written by Eddy Bekkers, Hryhorii Kalachyhin and Robert Teh, looked at the long-term effect of digitalisation on global patterns of trade. The advances in information and telecommunication
See More
IMF Working Paper: Strengthening Tax Governance Through Legal Design
An IMF working paper of 17 January 2025 written by L. Sofrona, C. Waerzeggers and B. Crowley with the title Strengthening Tax Governance Through Legal Design looks at tax governance in tax administration and how this can be strengthened. The
See More
Germany: Federal Council approves Non-Cooperative Tax Jurisdictions List
The German Federal Council (Bundesrat) approved an updated decree listing states and territories considered non-cooperative in addressing tax avoidance and unfair tax competition on 20 December 2024. The list aligns with the one published in the
See More
Kenya proposes new economic presence and minimum top-up taxes in Tax Laws Bill 2024
Kenya's National Assembly presented the Tax Laws (Amendment) Bill 2024 along with the Tax Procedures (Amendment) (No.2) Bill 2024 on 1 November 2024. Both Tax Laws (Amendment) Bill 2024 along with the Tax Procedures (Amendment) (No.2) Bill 2024
See More
European Commission launches upgraded online services for customs
The European Commission has introduced new and enhanced online services for customs on 22 October 2024. These services include the New Computerised Transit System (NCTS), the Automated Export System (AES), and the Proof of Union Status System
See More
G20 finance ministers and central bank governors release communiqué on global taxation cooperation
The G20 Finance Ministers and Central Bank Governors released their official Communiqué after their meeting in Washington DC, United States, on 23-24 October 2024. Regarding international taxation cooperation, the Communiqué says that
See More
Nigeria presents four tax reform bills to National Assembly
Nigeria’s President presented four bills to the National Assembly outlining measures to revise tax laws and modernise Nigeria’s tax system on 3 October 2024. The bills have been forwarded to the House Committee on Finance for review and
See More
OECD reports tax reforms shift from crisis response to long-term fiscal goals
The OECD released its annual report on tax policy reform Tax Policy Reforms 2024, on 30 September 2024, detailing the tax reforms enacted in 2023 across 90 jurisdictions, encompassing all OECD member countries. According to this new report, the
See More