Czech Republic: Ministry of Finance clarifies DAC7 information exchange
The Czech Republic’s Minister of Finance has signed a declaration on the application of the Multilateral Agreement of Competent Authorities on the implementation of the automatic exchange of information notified by platform operators (DPI MCAA) on
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US: IRS, Treasury finalise rules on digital and cloud transactions
The US Internal Revenue Service (IRS) and the Treasury Department have released final regulations addressing the Classification of Digital Content Transactions and Cloud Transactions. The regulation was published in the Federal Register on 14
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Italy outlines state budget for 2025, lowers corporate tax for reinvestment
Italy has enacted Law No. 207 of 30 December 2024, outlining the 2025 State Budget along with the multi-year financial plan for 2025-2027. The law was published in the Official Gazette on 31 December 2024 and took effect on 1 January 2025. The
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Sweden consults crypto reporting rules under DAC8 Directive
Sweden’s Ministry of Finance has introduced a proposal to implement Council Directive (EU) 2023/2226 (DAC8), which outlines new reporting and due diligence requirements for crypto-asset service providers. The Ministry is inviting public feedback
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US: Treasury, IRS finalise digital asset reporting rules
The US Treasury Department and Internal Revenue Service (IRS) has published a document (TD 10021) finalising final regulations regarding information reporting by brokers that regularly provide services effectuating certain digital asset sales and
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France updates guidelines on royalties declaration under DAC7
French tax authorities clarified that companies managing copyright royalties and inventor rights require companies to include the beneficiary's date of birth in declarations when the recipient is an individual residing in another EU Member State.
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Belgium proposes updates to DAC6, DAC7 rules
Belgium’s government has introduced a draft law proposing updates to the current regulations on the automatic exchange of information (AEOI) and related obligations. The draft legislation also outlines new penalties under DAC6 and DAC7. These
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Slovak Republic consults DAC8 implementation bill
The Slovak Republic’s Ministry of Finance has launched a public consultation on the draft bill No. LP/2024/645 on 25 November 2024. This proposed amendment to the Act on the Automatic Exchange of Information on Financial Accounts for Tax
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Georgia’s Department of Revenue has launched a public consultation on the proposed regulations regarding the taxation of digital product sales. The rules set forth the application of Georgia sales and use tax concerning the sale or use of
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Philippines proposes VAT rules for digital services
The Philippines Bureau of Internal Revenue (BIR) has released draft revenue regulations on 8 November 2024 to implement the Republic Act No. 12023. This act introduces a 12% VAT on all digital services used in the Philippines, including those
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European Commission develops standard forms, formats for DAC7 compliance
The European Commission announced its plans to draft an implementing regulation featuring standard forms and digital formats on 18 November 2024. These tools will be related to the Amending Directive of the 2011 Directive on Administrative
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Mexico introduces several tax incentive with economic package 2025
Mexico’s Federal Executive submitted the 2025 economic package to the Congress of the Union on 15 November 2024. This package does not include new taxes or increases to existing ones but adjustments to tax incentives and withholding taxes on
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Lithuania proposes tax reforms on DAC8, reporting tax information
Lithuania’s government has proposed several tax reforms to curb tax evasion and improve compliance as per international standards. These include DAC8 and amending the Code of Administrative Offences, among others. On 9 October 2024, the
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Bulgaria to sign CARF MCAA for crypto-asset reporting
The Council of Ministers of Bulgaria has approved the signing of the Multilateral Competent Authority Agreement for the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF MCAA) on Wednesday, 13 November 2024. The
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Hungary considers retail tax extension for online marketplaces
Hungary's parliament is currently discussing Draft Bill T/9724, which proposes to extend the retail sales tax to include online marketplaces. The bill is expected to go into force on 1 January 2025. Hungary implemented a retail sales tax on
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Chile details VAT representative process for foreign digital platforms
Chile’s Tax Administration (Servicio de Impuestos Internos, SII) has issued Resolution Ex. SII 101-2024 was published on 24 October 2024, outlining guidelines for digital platform companies not based in Chile regarding the appointment of a Chilean
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Costa Rica issues framework for automatic exchange of information for digital platform sellers
Costa Rica’s Ministry of Finance issued resolution MH-DGT-RES-0025-2024 in the Official Gazette on 6 November 2024, establishing a framework for automatically exchanging information concerning sellers operating on digital platforms. The
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UK Treasury revises reporting rules for digital platforms
The UK Treasury has updated its regulations for digital platform operators on 31 October 2024. The UK Treasury introduced “The Platform Operators (Due Diligence and Reporting Requirements) (Amendment) Regulations SI 2024/1082 (Regulations SI
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