US: New York City consults on proposed business corporation tax regulations
The New York State Department of Finance (DOF) is in the process of developing regulations for the business corporation tax, which was enacted in 2015. On 27 December 2023, the New York State Department of Taxation and Finance published a new set
See More
Brazil to apply 10% dividend withholding tax
Brazil’s Federal Senate has approved Bill 1.087/2025, introducing a 10% withholding tax on dividends paid to foreign entities, effective for fiscal years starting after 1 January 2026. Exemptions include profits calculated until 2025 and
See More
Canada: DoF releases 2025 budget, includes corporate tax and transfer pricing measures
Canada’s Department of Finance released the details of the Budget 2025 on 4 November 2025. The main tax measures of the budget are as follows: Business Income Tax Measures Immediate Expensing for Manufacturing and Processing
See More
Chile joins crypto-asset reporting framework (CARF-MCAA)
Chile joined the Multilateral Competent Authority Agreement on Automatic Exchange of Information Pursuant to the Crypto-Asset Reporting Framework (CARF MCAA) on 21 October 2025. This framework standardises the reporting of crypto-asset
See More
Albania, Chile, UAE sign addendum to the CRS MCAA
OECD reported that Albania, Chile, and the United Arab Emirates (UAE) have signed the Addendum to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS MCAA). The Addendum to the CRS MCAA
See More
Colombia: DIAN invalidates social media claims of debt forgiveness
Colombia's tax and customs authority (DIAN) has denied recent social media claims that it “forgives” taxpayers’ debts, calling the information false and misleading. This announcement was made on 4 November 2025. DIAN stressed that in
See More
US: Supreme Court scrutinises Trump’s global tariffs in high-stakes legal battle
The US Supreme Court is currently examining the legality of sweeping tariffs imposed by President Donald Trump as of 5 November 2025, a case that represents a significant test of presidential power and carries major implications for the global
See More
US: IRS clarifies penalty relief for 2025 reporting on tips and overtime under One, Big, Beautiful Bill
The US Internal Revenue Service (IRS) has announced, on 5 November 2025, penalty relief for tax year 2025 related to information reporting on tips and overtime. The Treasury, IRS provide penalty relief for tax year 2025 for information
See More
Costa Rica: DGT introduces new monthly tax reporting form for transactions not supported by electronic vouchers
Costa Rica’s tax authority (DGT) issued Resolution MH-DGT-RES-0055-2025 on 3 November 2025, introducing a new monthly tax reporting form for businesses and organisations that conduct transactions not covered by electronic invoices. The new
See More
China eases tariffs on select US agricultural products
China announced plans today, 5 October 2025, to suspend some of the retaliatory tariffs it imposed on US imports, following a recent meeting between the leaders of the two nations. Starting 10 November, China will lift duties of up to 15% on
See More
Costa Rica: DGT updates transfer pricing return dates for 2024, 2025
Costa Rica’s tax administration (DGT) has published Resolution MH-DGT-RES-TEMPORAL-0001-2025 in the Official Gazette on 31 October 2025 clarifying deadlines for submitting the transfer pricing information returns for fiscal years 2024 and
See MoreCanada: Government presents 2025 Budget to the House of Commons
Canada’s government has presented the Budget 2025 to the House of Commons on 4 November 2025. It emphasised a strategy to build major infrastructure, housing, and key industries to support economic growth and long-term prosperity. The
See More
Ecuador updates dividend tax rules and strengthens transparency law
Ecuador has published new regulations governing the taxation of dividends and profit distributions for resident companies and permanent establishments, as part of the Organic Law on Social Transparency, in the Official Gazette on 28 August
See MoreChile: SII to impose VAT on small online imports from 20 major foreign platforms
Chile’s tax authority (SII) announced on 24 October 2025 that it will start applying VAT to remote purchases of goods valued up to USD 500 when bought through 20 registered foreign retailers and intermediary platforms, which account for 90% of
See More
Argentina: ARCA updates rules for lowering income tax advance payments
Argentina's tax and customs agency (ARCA) announced on 27 October 2025 that it has modified the parameters for companies to request a reduction in their advance income tax payments. The measure establishes that companies may request a
See MoreUS: Trump administration releases factsheet on US-China trade deal
The Trump Administration released a fact sheet detailing the trade agreement reached between the US and China on 30 October 2025, on 1 November 2025. This follows the announcement by US Treasury Secretary Scott Bessent on 26 October 2025 that the
See More
Brazil mandates disclosure of ultimate beneficial owners of investment funds, companies
Brazil’s Federal Revenue Service published an update to the rule on 31 October 2025, which deals with the identification of the ultimate beneficiaries of investment funds, companies, and legal arrangements operating in the country. This measure
See More
Uruguay: Economy, Tourism Ministries reintroduce VAT cut for foreign tourists
The Ministry of Economy and Finance and the Ministry of Tourism issued a joint decree on 23 October 2025, announcing the reintroduction of a significant tax benefit for foreign tourists. The measure provides for a reduction of the Value Added Tax
See More