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
See MoreUS: 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
See MoreUS: 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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US: IRS updates Form 1099-K guidance under the One, Big, Beautiful Bill
The IRS clarified that under the One, Big, Beautiful Bill, third-party payment processors must file Form 1099-K only if a payee receives over USD 20,000 and more than 200 transactions, reinstating the pre-ARPA threshold. The US Internal Revenue
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India, US near deal to slash import tariffs
India and the US near deal to cut tariffs, with energy and agriculture in focus. India and the US are reportedly nearing a trade deal that would cut US tariffs on Indian imports from 50% to about 15–16%. The agreement is expected to focus on
See MoreColombia: DIAN closes businesses for electronic invoice non-compliance
DIAN closed 47 Bogotá businesses in October for failing to issue electronic invoices and meet tax obligations. Colombia’s Tax Authority (DIAN) continues to strengthen its control measures in the capital. As part of the operations carried out
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Argentina: ARCA extends deadline for accessing income tax payment facility
The new deadline is set at 28 November 2025. Argentina's tax authority (ARCA) has announced an extension for taxpayers to join the payment facility regime on 22 October 2025, aimed at regularising income tax balances, including adjustments for
See MoreUS: Trump anticipates trade agreement with China, including soybean exports
President Trump expressed confidence in reaching agreements with President Xi during their upcoming South Korea meeting, covering trade issues, including China’s Russian oil imports. U.S. President Donald Trump expressed his optimism on
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Bolivia: SIN extends agricultural unified tax system obligations deadline for 2024 fiscal year
The deadline was extended because agricultural associations requested more time. Bolivia’s tax authority (SIN) has issued Resolution RND 102500000039 on 10 October 2025, granting an extension for obligations related to the Unified
See MoreUS: Treasury, IRS provide transition relief for 2025 for businesses reporting car loan interest under the One, Big, Beautiful Bill
The notice provides penalty relief and guidance to certain lenders for new information reporting requirements for car loan interest received in 2025 under the OBBB. The Department of the Treasury and the Internal Revenue Service (IRS) issued
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US: USTR moves to impose 100% tariffs on Nicaragua imports over labour violations, seeks public comments
The USTR is considering tariffs of up to 100% on Nicaraguan goods over alleged labour and human rights violations affecting US trade. The US Trade Representative's office announced that the Trump administration is considering imposing tariffs of
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