Norway consulting debt and interest deduction limits for financial firms abroad
Norway’s Ministry of Finance has initiated a public consultation on proposed changes to the Norwegian Tax Act. These amendments limit the deductibility of debt and interest expenses for financial institutions operating abroad. The proposed
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Denmark proposes tax reform to align with OECD guidelines and simplify transfer pricing rules
The Danish Minister of Taxation introduced Bill L 194 to align with the OECD’s Minimum Tax Guidelines and ease transfer pricing (TP) documentation on 9 April 2025. The Bill aims to implement OECD administrative guidance under Pillar Two,
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OECD releases statement on outcomes of 17th inclusive framework meeting held on 7-10 April
The OECD released a public statement summarizing the key outcomes of the 17th plenary meeting of the OECD/G20 Inclusive Framework on BEPS, which took place from 7-10 April 2025 in Cape Town, South Africa. Domestic tax base erosion and profit
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US: Trump overturns digital asset reporting regulations
US President Donald Trump signed into law H.J.Res.25 (Congressional Review Act Disapproval Resolution on Cryptocurrency Broker Reporting from the IRS) on 10 April 2025, a joint resolution of disapproval aimed at overturning the final regulations
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EU: Council adopts DAC9 to support Pillar Two filings
The Council of the EU announced on 14 April 2025 the formal adoption of changes to the Directive on administrative cooperation in taxation (Directive 2011/16/EU) to simplify filing obligations under the Pillar 2 Directive (DAC9). The directive
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Denmark updates list of jurisdictions for automatic exchange of financial information
Denmark issued Executive Order No. 366 on 7 April 2025 , published in Official Gazette A on 9 April 2025. This order updates the list of jurisdictions that participate in the automatic exchange of financial account information, in line with
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European Commission adopts updated regulation to enforce DAC7
The European Commission (EC) has adopted Implementing Regulation 2025/648 of 2 April 2025, introducing changes to Implementing Regulation 2015/2378, as regards the standard forms and computerised formats to be used for the mandatory automatic
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Norway: Parliament approves new reporting rules for digital platforms
Norway’s parliament has approved the government proposal to introduce new reporting requirements for digital platforms on 4 April 2025. These proposals align with the OECD Model Rules for Reporting by Platform Operators and the Multilateral
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Panama updates CRS participating jurisdictions list
Panama published Resolution No. 201-3013 of 26 March 2025 in the Official Gazette on 1 April 2025 updating the list of participating jurisdictions for the automatic exchange of financial account information under the Common Reporting Standard
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Poland gazettes consolidated transfer pricing rules for corporate tax
Poland published the updated consolidated text of the transfer pricing regulations related to corporate income tax in the Official Gazette on 8 April 2025, reflecting the provisions which have been in effect from 21 March 2025. The provisions of the
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Germany releases 2025 CRS reporting list with new jurisdictions
The German Federal Central Tax Office has published a provisional list of jurisdictions for the Common Reporting Standard (CRS) financial account information exchange for 2025 on 26 March 2025. . This list covers jurisdictions that will
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India: CBDT signs record number of advance pricing agreements in FY 2024-25
The Indian Central Board of Direct Taxes (CBDT) announced that India has entered into a record 174 Advance Pricing Agreements (APAs) with Indian taxpayers in FY 2024-25. These include Unilateral APAs (UAPAs), Bilateral APAs (BAPAs) and Multilateral
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Switzerland revises jurisdictions for CbC report exchange
Switzerland has updated its list of jurisdictions for exchanging Country-by-Country (CbC) reports. The latest version was published on 28 March 2025. The latest update adds three new jurisdictions to the list. The Dominican Republic and Vietnam
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Germany: Ministry of Finance clarifies application of CbC reporting for transparent partnerships
Germany’s Federal Ministry of Finance published a letter on 3 April 2025 addressing how Country-by-Country (CbC) reporting applies to tax-transparent partnerships, including their treatment under the Transitional CbCR Safe Harbour for Pillar
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New Zealand: Parliament grants Royal Assent for Omnibus Tax Bill
New Zealand’s Parliament announced on 29 March 2025 that royal assent had been granted to Public Act No. 9/2025, a comprehensive omnibus tax law. The Bill introduces several key provisions, including confirming annual income tax rates for the
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Cayman Islands updates CRS jurisdiction lists
The Cayman Islands updated its lists of participating and reportable jurisdictions in the Official Gazette on 31 March 2025 for automatic financial account information exchange under the Common Reporting Standard (CRS). The list of participating
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Germany mandates transaction matrix transfer pricing documentation requirement
Germany’s Ministry of Finance released a decree outlining the requirements for the “transaction matrix,” a new component of transfer pricing documentation under section 90(3) of the Fiscal Code (AO) on 2 April 2024. The transaction matrix
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OECD adds Guernsey to list of qualified Pillar Two jurisdictions
The OECD issued an update on 31 March 2025, in which Guernsey has been added as a jurisdiction with a qualified income inclusion rule (IIR), domestic minimum top-up tax rule (QDMTT), and meeting QDMTT safe harbor standards. This should prevent
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