Mexico updates list of registered foreign digital service providers
Mexico’s July update lists 266 foreign digital providers registered for VAT as of 30 June 2025. Mexico’s tax administration released an updated list on 25 July 2025, identifying 266 foreign digital service providers registered for tax
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Dominican Republic updates inflation multipliers, exchange rates for FY 2025
The Dominican Tax Authority has issued Resolution No. DDG-AR1-2025-00005, announcing inflation adjustments and exchange rates for companies with a fiscal year ending 30 June 2025. The Dominican Republic’s General Directorate of Internal Revenue
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US: IRS issues temporary CAMT guidance for partnerships, new rules expected
The IRS issued interim guidance on applying the Corporate Alternative Minimum Tax (CAMT) to partnerships and announced plans to revise and replace the September 2024 proposed regulations. The US Internal Revenue Service (IRS) issued Notice
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Colombia launches tax incentives for sports investments
The law allows taxpayers to fund recognised sports activities in exchange for tradable income tax credits. Colombia’s Congress has enacted Law 2490-2025, effective 17 July 2025, introducing income tax incentives for individuals and entities
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Colombia proposes comprehensive tax reforms to stimulate economy
The draft bill offers VAT exemptions for hotels and renewable energy, vehicle tax penalty discounts, debt relief for low-income electricity users, and a traffic fine amnesty through 2024. Colombia has published Bill No. 507 of 2025 in the
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Chile waives interest and penalties for some non-resident taxpayers over technical glitch
The full waiver of interest and penalties only applies to non-resident taxpayers who submitted their digital VAT forms by 25 July 2025. Chile's Tax Administration (SII) has issued Resolution Ex. SII No. 89-2025 on the SII website on 22 July
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Costa Rica gazettes new resolution on transfer pricing information return
The new resolution will take effect on 4 August 2025, replacing the 2016 and 2017 resolutions. Costa Rica's Tax Administration (DGT) has published Resolution MH-DGT-RES-0026-2025 in the Official Gazette on 24 July 2025, which pertains to the
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Canada: Google ends 2.5% ad surcharge following move to repeal DST
The fee, introduced on 1 October 2024, applied to Google Ads and YouTube reservations to cover compliance costs under Bill C-69, which targeted large digital companies. Google has announced that it is scrapping its 2.5% "Canada DST Fee" on
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US, Philippines reach new trade agreement on export tariffs
The US and the Philippines have agreed on a trade deal with a 19% tariff on Philippine exports and zero tariffs on US goods. The US and the Philippines have concluded a trade agreement that lowers the planned US tariff on Philippine exports from
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US: IRS releases temporary guidelines to enhance LB&I audit procedures
The memo outlines plans to phase out the acknowledgement of facts process by 2026, expand accelerated issue resolution to large corporate cases, and strengthen review of fast track settlement denials. The US Internal Revenue Service (IRS)
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Chile updates daily late tax payment interest rate for July–December 2025
The updated daily interest rate for late tax payments is 0.0222222222% for the period from 1 July to 31 December 2025. Chile’s Internal Revenue Service (SII) has issued Resolution No. 75 on 26 June 2025, setting the daily interest rate for late
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Brazil eyeing formal trade agreement with Bangladesh
If finalised, the agreement will likely be signed at this year’s annual Brazil-Bangladesh bilateral meeting in Dhaka. Brazil has shown a strong interest in signing a trade and economic agreement with Bangladesh to enhance bilateral commercial
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US: IRS clarifies BEAT exception rules; states services cost method not mandatory, documentation essential
The IRS clarified that under BEAT rules, taxpayers may exclude the cost portion of service payments to foreign related parties using the Section 59A(d)(5) exception, even without applying the specific transfer pricing method. The US Internal
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US, EU finalise trade agreement featuring 15% tariff on imports
The trade deal imposes a 15% tariff on most EU imports and zero tariffs on key strategic goods, including aircraft, certain chemicals, generic drugs, semiconductors, and raw materials. US President Donald Trump and European Commission President
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Panama withdraws extended deadlines for tax treaty claim corrections
The new resolution only allows a 10-day extension, with the possibility of extending it up to 30 days. Panama published Resolution No. 201-5822 on 16 July 2025, in Official Gazette No. 30323, repealing Resolution No. 201-2232 of 16 March
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Argentina joins CRS MCAA
As of 25 July 2025, 55 jurisdictions have signed the Addendum to the CRS MCAA. Argentina signed the Addendum to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS MCAA) on 1 July
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Ecuador cuts taxes on private electric vehicles and eases tourism VAT rules
Ecuador has enacted a new law granting VAT and import duty exemptions for private-use EVs and expanding flexibility in tourism-related VAT reductions, effective from 14 July 2025. Ecuador has introduced tax relief for private-use electric
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Brazil: National Congress approves tax treaty with Poland
The treaty will take effect three months after the exchange of ratification instruments and will apply starting 1 January of the following year. Brazil's National Congress has issued Legislative Decree No. 186 of 2025, approving the income tax
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