Chile: SII issues guidance on reduced tax rates and advance payments for SMEs
The reduced income tax rates take effect on 1 January 2025, and the reduced PPM rates apply from August 2025 to December 2027. Chile’s Tax Administration (SII) has published Circular SII No. 53-2025 on its website on 3 September 2025, outlining
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Canada, Ukraine sign agreement on mutual administrative assistance in customs matters
This agreement aims to address customs violations amid growing bilateral trade between the two countries. Canada and Ukraine signed an agreement on mutual administrative assistance in customs matters on 24 August 2025. The signing took place
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US: IRS issues USD 162 million in fines for fraudulent tax credit claims promoted on social media
The IRS warns taxpayers about rising social media scams promoting the misuse of tax credits, such as the Fuel Tax Credit and the Sick and Family Leave Credit, which have led many to file invalid returns and face denied refunds and penalties. The
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Brazil: Congress completes ratification of tax treaty with Colombia
Signed on 5 August 2022, Brazil and Colombia signed their first agreement to eliminate double taxation on income and prevent tax evasion. Brazil’s Congress has issued Legislative Decree No. 193 on 2 September 2025, approving the ratification of
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US: Trump signs executive order advancing trade agreement with Japan
The executive order sets a 15% tariff on Japanese imports to the U.S., replacing the previous 35% rate, retroactive to 7 August 2025, while eliminating tariffs on civilian aerospace goods, metals (aluminium, copper, steel), and automobiles and
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Mexico: President to impose tariffs on China
President Claudia Sheinbaum announced that her government may impose tariffs on imports from countries without trade agreements, including China, under the "Plan Mexico" initiative. Mexican President Claudia Sheinbaum stated on 4 September 2025
See MoreUS: IRS calls on taxpayers to review emergency preparedness plans
The IRS urges individuals and businesses to update their emergency preparedness plans, safeguard essential documents, and maintain accurate records to facilitate recovery and access to disaster assistance during peak hurricane and wildfire
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Canada: CRA extends withholding tax relief for nonresident subcontractor reimbursements to June 2026
Taxpayers reimbursing non-residents for services in Canada via subcontracting can defer the 15% withholding tax and related interest or penalties until 30 June 2026. The Canada Revenue Agency (CRA) has extended its administrative relief policy
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US: Michigan provides tax filing and payment relief for storm-affected residents
Individuals and businesses in Houghton and Ontonagon counties can request additional time to file state tax returns and pay state tax bills, with penalties and interest waived. Michigan State Treasurer Rachael Eubanks announced on 2 September
See MoreBrazil: Senate approves tax treaty protocol with Chile
Signed 3 March 2022, this is the first amendment to the 2001 Brazil–Chile income tax treaty. Brazil's Senate (the upper house of parliament) approved the ratification of the protocol amending the 2001 tax treaty with Chile on 3 September
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US: Trump to impose tariffs on chip imports for companies resisting US production shift
"We will be putting a very substantial tariff, not that high, but fairly substantial tariff, with the understanding that if they come into the country, if they are coming in, building, planning to come in, there will not be a tariff. If they are not
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Colombia updates CERT rules for exports
Colombia’s Decree 0952 clarifies CERT calculations, extends deadlines and updates operational rules for exporters. Colombia’s government issued Decree No. 0952 on 29 August 2025, updating Decree No. 566, which governs the Tax Refund
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Uruguay: 2025–29 budget bill proposes new domestic minimum tax
Uruguay’s 2025–29 Budget Bill proposes a new domestic minimum tax for large multinational groups, effective 2027. Uruguay’s 2025–2029 Budget Bill, submitted on 31 August 2025, introduces a Pillar 2 Qualified Domestic Minimum Top-Up Tax
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Netherlands: Council of Ministers approves tax treaty between Curacao and Suriname
The treaty will be submitted to the Dutch parliament (Staten-Generaal) and the parliament of Curacao for approval. The Netherlands Council of Ministers has approved the 2024 Curacao-Suriname Income and Capital Tax Treaty on 29 August
See MoreUS: Colorado ends federal pass-through deduction link, cracks down on tax havens to balance “one big beautiful bill” effects
Colorado will implement tax reforms, including decoupling from the federal 20% pass-through deduction and expanding tax haven jurisdictions, to address corporate tax loopholes and generate nearly USD 250 million in revenue. Colorado, under
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Argentina: ARCA introduces flexible schedule for advance VAT payments
General Resolution 5750 lets VAT-registered taxpayers under the “IVA Simple” system apply advance VAT payments in the current return or within the next five months. Argentina’s tax authority (ARCA) has published General Resolution 5750 in
See MoreUS: Trump administration appeals tariff dispute to Supreme Court
The Trump administration requested the Supreme Court to expedite its review by determining whether to hear the case by September 10 and scheduling arguments for November. The Trump administration has requested that the US Supreme Court on
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Peru to implement BEPS multilateral instrument
Peru will implement the BEPS Multilateral Instrument from 1 October 2025, with application to tax treaties depending on counterparties’ ratifications. Peru’s Ministry of Foreign Affairs published a notice on 23 August 2025 in a special
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