Brazil: President Lula says US guarantees trade agreement, Trump remains cautious
Regfollower Desk During the ASEAN summit in Malaysia, Brazilian President Luiz Inácio Lula da Silva shared insights into his recent meeting with US President Donald Trump, expressing optimism about a potential trade agreement between the two
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El Salvador offers tax amnesty for pending obligations through July 2025
Regfollower Desk El Salvador's Legislative Assembly has introduced Decree No. 427 of 25 October 2025, which establishes a Special and Transitory Law to provide a tax amnesty regime. This initiative, spearheaded by the President and the Minister
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US: Senate approves bill to overturn Trump’s tariffs on Brazilian imports
Regfollower Desk The US Senate, led by Republicans, has passed a bill to overturn President Donald Trump's tariffs on Brazil by ending the national emergency he declared in July. This emergency was in response to Brazil prosecuting its
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Brazil: MDIC sets new tax waivers to boost investment in manufacturing, infrastructure
Brazil’s MDIC has set new tax waiver limits and accelerated depreciation rules to incentivise investment in machinery, equipment, and fixed assets across key industries. Regfollower Desk Brazil’s Ministry of Development, Industry, Trade,
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US: IRS urges tax professionals to renew PTINs ahead of 2026 filing season
All paid tax return preparers and enrolled agents must renew their PTINs annually, as 2025 PTINs will expire on 31 December 2025. Regfollower Desk The US Internal Revenue Service (IRS) issued a notice on 27 October 2025, reminding more than
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Argentina: ARCA repeals reporting regime for international operations
The repeal seeks to eliminate overlapping reporting requirements and modernise data management without weakening oversight or control mechanisms. Regfollower Desk Argentina’s tax authority (ARCA) has repealed General Resolution No. 5306,
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Colombia consults unified withholding tax for electronic payments
The draft decree will align the withholding tax rate applied to electronic payments and payments made with debit and credit cards Colombia’s Ministry of Finance has launched a public consultation on 23 October 2025 regarding a draft decree that
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Chile: SII clarifies offshore software tax exempt from non-resident income tax
Offshore software licenses in Chile exempt from income tax, VAT applies. The Chilean Tax Administration (SII) has clarified the tax treatment of software licensing services provided from abroad. According to Ruling No. 2066-2025 on 16 October
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Colombia: DIAN updates foreign exchange reporting rules
DIAN issues Resolution 230 of 2025, updating quarterly reporting rules for foreign exchange operations. Colombia's National Tax and Customs Directorate (DIAN) issued Resolution 230 on 20 October 2025, amending Article 2.2.5 of Resolution 180 of
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US: Trump imposes 10% tariff increase on Canada following World Series ad
US President Donald Trump announced a 10% tariff increase on Canadian goods after criticising an Ontario government ad he deemed misleading, escalating trade tensions and halting negotiations despite Canada’s move to pause the ad campaign. US
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Canada limits tariff-free imports of US vehicles by automakers Stellantis, General Motors
Canada will impose 25% tariffs on non-compliant US vehicle imports but will allow limited tariff-free imports for manufacturers maintaining local production and planned investments. Canada’s Finance Minister Francois-Philippe Champagne and
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US: Trump administration signs trade deals on rare-earth and critical minerals with Malaysia, Cambodia, Thailand, Vietnam
The US has signed trade and critical minerals agreements with Malaysia, Cambodia, Thailand, and Vietnam to address trade imbalances and secure alternative rare earth supply chains amid China’s export restrictions. The Trump Administration has
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US: Iowa retains corporate tax rates for 2026
The 2026 corporate income tax rates will remain the same as corporate income tax rates for tax years beginning in 2024 and 2025. The Iowa Department of Revenue issued an Order 2025-02 on 21 October 2025 regarding corporate income tax rates for
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Chile, Paraguay finalise updates to tax treaty
The updated agreement incorporates provisions aligned with the OECD BEPS standards and introduces enhancements to the taxation of dividends, interest, and royalties. Officials from Chile and Paraguay have concluded discussions to revise their
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US, China agree on rare earth framework amid Trump’s tariff warning
The US and China reached a preliminary trade deal in Malaysia to avert major tariffs and export restrictions, paving the way for upcoming talks between Trump and Xi on trade balance. US Treasury Secretary Scott Bessent announced on 26 October
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US: IRS releases guidance on credit, refund limits for employee retention credits
The FAQs discuss the limitation generally, when a claim is considered to be timely filed, and what appeals rights are available if an ERC claimed on a return is disallowed. The US Internal Revenue Service (IRS) has announced the issuance of the
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US: Trump administration terminates trade talks with Canada
President Trump halted all trade talks with Canada, citing a “fraudulent” Ontario government and misrepresenting former President Reagan’s views. US President Donald Trump announced on Thursday, 23 October 2025, that his administration has
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Canada: Government to introduce anti-fraud plan, financial crimes agency
The government plans to strengthen Canada’s fight against financial fraud by requiring banks to implement anti-fraud policies, exploring broader sector-wide measures, and establishing a new Financial Crimes Agency. Canada’s Department of
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