US: Trump administration seeks fast-track Supreme Court decision on tariffs
The US Appeals Court ruled that the majority of Trump-era tariffs are unlawful, but they will remain in effect until 14 October while a potential Supreme Court review is considered. US President Donald Trump announced plans to seek an expedited
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Colombia: MoF proposes major tax reforms for 2026 budget
The proposed 2026 budget legislation introduces significant reforms to corporate surtax, VAT, personal income tax, net wealth tax, and capital gains tax, with new tax rules for crypto-asset transactions. Colombia’s Ministry of Finance submitted
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Brazil: President adopts cautious stance on US tariff response
Brazil's Foreign Ministry has tasked Camex with analysing the reciprocity law to strengthen its position in tariff negotiations with the US. Brazil’s President Luiz Inácio Lula da Silva stated he is in "no rush" to retaliate against the US
See MoreUS: Appeals Court rules most Trump tariffs illegal, administration advances trade deals despite ruling
The US Appeals Court ruled that most Trump-era tariffs are illegal but allowed them to remain in place until 14 October pending a possible Supreme Court appeal. Despite the ruling, the administration continues trade talks with other
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Chile: SII issues rules on VAT exemption for low-value imports purchased via remote sellers, online platforms
The new rules exempt low-value imports (CIF value under USD 500) from VAT at import when purchased from non-resident remote sellers or DPIs registered under the simplified VAT regime, ensuring VAT is only charged at the sale stage, not at the time
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Panama: DGI updates eligibility rules for free e-invoicing platform
Resolution 201-6299 enters into force on 1 January 2026. Panama’s tax authority (DGI) published Resolution 201-6299 of 29 July 2025 in the Official Gazette No. 30350 on 25 August 2025, updating the criteria for registered taxpayers to use the
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US: IRS issues guidance on elections, amended returns, accounting method changes for R&E costs under OBBBA
The guidance covers procedures for amortising domestic R&E costs, obtaining automatic consent for accounting changes, and extended deadlines for certain 2024 returns. The IRS released Revenue Procedure 2025-28, outlining rules for elections,
See MoreUS: Trump administration permanently ends low-value package tariff exemption
CBP guidance states parcels will incur fees of USD 80, USD 160, or USD 200 based on Trump-era duty rates: under 16% (e.g., UK, EU), 16-25% (e.g., Indonesia, Vietnam), and over 25% (e.g., China, Brazil, India, Canada), respectively. The Trump
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Brazil consults changes to net profit social contribution (Pillar Two QDMTT)
The consultation period will conclude on 14 September 2025. Brazil's Federal Revenue Service (RFB) has initiated a public consultation to discuss proposed amendments to Normative Instruction RFB No. 2.228 of 3 October 2024, which governs the
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Colombia clarifies tax rules on cross-border technical services with Ecuador
Colombia clarifies SIMPLE regime tax treatment of cross-border technical and consulting services with Ecuador under Andean Community rules. Colombia’s tax authority (DIAN) issued Ruling 8971 int 1044 on 10 July 2025, confirming how technical
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Mexico plans tariffs on Chinese imports
Mexico plans higher tariffs on Chinese imports to protect domestic industries and support a US-backed “Fortress North America” strategy. Mexico is planning to raise tariffs on Chinese imports as part of its 2026 budget proposal, aiming to
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Uruguay launches new investment incentives, prioritises R&D+i amongst others projects
Uruguay unveils investment promotion package with tax incentives, streamlined procedures, and support for SMEs, large projects, tech, and housing. The Ministry of Economy and Finance announced on Monday, 18 August 2025 a package of measures aimed
See MoreBrazil: Senate approves tax treaty with Colombia
The tax treaty will take effect once the ratification instruments are exchanged and will apply from 1 January of the following year. Brazil’s Senate approved the ratification of the income tax treaty with Colombia on 26 August 2025. Signed
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US: 50% tariffs on Indian imports enters into force
US to impose extra 25% tariffs on Indian imports from 27 August 2025, raising total duties to 50%. The US’ tariffs on Indian imports under Executive Order 14329 is taking effect today, 27 August 2025, starting 12:01 AM EDT. Most Indian
See MorePanama: DGI extends deadline for taxpayer registry
The deadline for updating the taxpayer registry information has been extended due to technological disruptions. Panama’s tax authority (DGI) has published Resolution 201-6695 of 12 August 2025 in Official Gazette No. 30348 of 21 August 2025,
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Ecuador: SRI replaces Mining Annex with the Mining Activities Information Form, updates deadlines
The new Resolution modifies the reporting requirements for the Mining Annex (“Anexo Minero”) established by Resolution No. NAC-DGERCGC25-00000004 of 20 February 2025 and amended by Resolution No. NAC-DGERCGC25-00000007 of 28 March 2025. The
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US: Rhode Island to raise property transfer tax from October 2025
Rhode Island will increase its real estate conveyance tax rate from USD 2.30 to USD 3.75 per USD 500 for property sales exceeding USD 100, effective 1 October 2025. The Rhode Island Department of Revenue has published ADV 2025-13 on 21 August
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Argentina extends deadline for PAIS tax refund requests
This extension applies to the filing of affidavits for refunds of advance payments of the Impuesto Para una Argentina Inclusiva y Solidaria (PAIS), in the situations outlined in Resolution No. 5720. Argentina’s Customs Collection and Control
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