The UK tax authority, His Majesty's Revenue and Customs (HMRC), has released the Explanatory Notes outlining the government amendments, which focus on matters related to Pillar Two, to the Finance Bill 2024-25 on 19 December 2024. The Explanatory

Wales’ Cabinet Secretary for Finance has presented the draft Scottish Budget 2025-2026 on 10 December 2024. The draft budget introduces proposed changes to the land transaction tax (LTT), including a final one-year extension of the temporary

Scotland’s Cabinet Secretary for Finance and Local Government has presented the draft Scottish Budget 2025-2026 on 4 December 2024. The draft budget proposes various tax measures, including the extension of 100% rate relief for hospitality

Luxembourg's Government Council has approved the ratification of the income and capital tax treaty with Colombia on 13 December 2024. The agreement was signed on 19 January 2024. It seeks to eliminate double taxation with respect to taxes on

Ecuadorian President Daniel Noboa signed a decree ratifying the income and capital tax treaty with the UK on 13 December 2024. The agreement aims to avoid double taxation on income and capital gains between the two countries. It will apply to

The tax reform bill proposed by Colombian President Gustavo Petro was rejected by the four economic committees of the Colombian Congress on 11 December 2024. The rejection of the tax reform comes after Congress also rejected the government’s