Iran ratifies income tax treaty with Finland
Iran’s President signed the law ratifying the income tax treaty on 24 May 2025. Iran’s President Masoud Pezeshkian has signed the law to ratify the income tax treaty with Finland on 24 May 2025. Signed on 7 February 2022, this is the
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UAE: MoF temporarily eases listing requirement for REIT exemption
The Decision outlines conditions for certain Real Estate Investment Trusts (REITs) to qualify for corporate tax exemption. The UAE Ministry of Finance has issued Ministerial Decision No. 96 of 2025 on Conditions to Exempt Certain Real Estate
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Switzerland, UAE DTA second protocol enters into force
The amended Switzerland-UAE income tax treaty took effect on 5 May 2025, following the signing of the amending protocol to the treaty on 5 November 2022. According to an announcement in the Swiss Official Gazette dated 19 May 2025, the second
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Ivory Coast: National Assembly ratifies income tax treaty with Qatar
Ivory Coast’s National Assembly approved the ratification of the income tax treaty with Qatar on 21 May 2025, following earlier approval by the Council of Ministers in 2024. Ivory Coast’s National Assembly has approved the ratification of the
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Papua New Guinea, UAE negotiates tax treaty, IPA
Papua New Guinea and UAE officials have started negotiations to advance bilateral ties, focusing on trade, investment, and technical cooperation. Papua New Guinea’s (PNG) Prime Minister Hon. James Marape met with the Special Envoy of the
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Czech Republic, Oman conclude new income and capital tax treaty negotiations
The treaty now awaits formal signing and ratification. Representatives from the Czech Republic and Oman concluded negotiations for a treaty on income and capital taxes on 22 May 2025. The agreement is expected to eliminate double taxation
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Cambodia, UAE conclude third round of tax treaty negotiations
Talks addressed remaining provisions and the UAE’s new corporate tax rules. Officials from Cambodia and the UAE held a third round of talks from 14–16 May 2025 in Phnom Penh to negotiate a double taxation agreement (DTA). The discussions
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UAE: Cabinet approves corporate tax exemption for foreign-owned businesses
The Decision expands corporate tax exemption to cover certain foreign entities owned by exempt bodies. The UAE’s Ministry of Finance (MoF) announced the issuance of Cabinet Decision No. (55) of 2025 on Exempting Certain Persons from Corporate
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South Africa: MoF presents revised 2025 budget, scraps proposed VAT hike
Finance Minister delivered 2025 revised budget speech on 21 May 2025. Key tax changes include scrapping proposed VAT rate hikes, removing additional zero-rated items, and increasing the inflation-linked fuel levy. South Africa’s Finance
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UK suspends new FTA negotiations with Israel, to impose sanctions on West Bank settlers
The UK Foreign Secretary, David Lammy announced yesterday, 20 May 2025, that the UK government has suspended negotiations for a new free trade agreement with Israel. This decision was made in response to Israel’s ongoing military actions in
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Iran: Guardian Council approves tax treaty with FinlandÂ
Iran’s Guardian Council has approved the income tax treaty with Finland on 22 April 2025, after the parliament approved the agreement on 8 April 2025. Signed on 7 February 2022, this is the first treaty between the two countries and aims to
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Poland, UAE sign exchange of notes to income tax treatyÂ
Poland and the UAE signed an exchange of notes on their 1995 tax treaty on 24 February 2025 and 18 April 2025. The exchange notes confirm that the Abu Dhabi Developmental Holding Company qualifies as a governmental institution, making it eligible
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El Salvador, Turkey begin negotiations on double taxation treaty
El Salvador and Turkey have begun formal talks on a treaty to eliminate double taxation and curb tax evasion. This announcement was made by the Ministry of Foreign Affairs of El Salvador on 12 May 2025. The Turkish delegation was led by Ahmet
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Turkey updates tax audit rules for digital and remote processes
The Turkish Ministry of Treasury and Finance has updated its tax audit regulations to enhance the use of electronic tools in audit procedures. Published on 13 May 2025, the amendment revises the October 2011 regulation by defining electronic system
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Brazil delists UAE and Austrian holding regime from low-tax jurisdiction and privileged tax regime
Brazil’s Federal Revenue Service (RFB) has published the Normative Instruction No. 2,265/2025 in the Official Gazette on 13 May 2025, in which it removed the UAE from the list of low-tax jurisdictions and the Austrian holding company regime (for
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Czech Republic and Oman initiate tax treaty negotiations
The Czech Republic and Oman are set to begin a fresh round of negotiations for a new tax treaty, scheduled to take place in Prague from 19 -22 May 2025. The treaty was initially agreed upon in principle on 5 December 2012, following a second
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Czech Republic, Tanzania sign income tax treatyÂ
The Czech Republic Ministry of Finance announced the signing of an income tax treaty with Tanzania on 14 May 2025. This is the first treaty between the two countries and aims to eliminate double taxation concerning taxes on income and prevent tax
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Bahrain Upper House ratifies first income tax treaty with Oman
Bahrain’s upper house of the National Assembly (Majlis al-shura) approved the ratification of the income tax treaty with Oman on 11 May 2025. The aim of these agreements is to strengthen the economic ties between the two countries and improve
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