US imposes 15% tariff on goods from Trinidad and Tobago
The US has imposed a 15% tariff on Trinidad and Tobago’s key exports like ammonia and methanol, but exempts tariffs on crude oil and natural gas. The US has implemented a 15% reciprocal tariff on imports from Trinidad and Tobago on 7 August
See MoreUS suspends de minimis duty exemption on low-value imports
The Trump administration has ended the duty-free treatment for imports valued at USD 800 or less, effective 29 August 2025. US President Trump signed an executive order on 30 July 2025, suspending the duty-free de minimis treatment for
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Venezuela updates VAT exemptions, designations of withholding agents
Venezuela’s Decree No. 5.145 suspends VAT exemptions on essential goods like food, medicines, and books, effective 30 June 2025, while Administrative Ruling SNAT/2025/000054 designates special taxpayers as VAT withholding agents from 16 July
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US: IRS issues guidance on safeguarding taxpayer identity with multi-factor authentication, IP PINs, and online accounts
The IRS and Security Summit urge taxpayers and tax professionals to use identity protection PINs, secure online accounts, and multi-factor authentication to safeguard against tax-related identity theft. The US Internal Revenue Service (IRS) has
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Mexico increases tariffs on goods via simplified customs scheme
The ad valorem tariff for goods imported by courier under the simplified regime has increased to 33.5%, while USMCA goods over USD 117 face a 19% tariff, effective 15 August 2025. Mexico’s tax authority (SAT) has updated tariffs for imported
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China pauses 24% tariff on US goods for 90 days, keeps 10% levy
China extends the suspension of 24% additional tariffs on US imports for 90 days, keeping 10% tariffs intact. China’s Customs Tariff Commission of the State Council announced on 14 August 2025 that it has temporarily suspended its additional
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Brazil, Poland tax treaty enters into force
The tax treaty takes effect on 5 November 2025. The income tax treaty between Brazil and Poland will take effect on 5 November 2025, applying from 1 January 2026. The treaty, signed on 20 September 2022, aims to prevent double taxation and tax
See MoreUS: IRS announces tax relief to West Virginia storm victims
Individuals and households residing in or having a business in Marion and Ohio counties qualify for tax relief. The US Internal Revenue Service (IRS) issued WV-2025-04 on 8 August 2025, announcing tax relief for individuals and businesses in
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Chile: MoF revises criteria for fuel excise tax calculation
The readjusted fuel excise tax will take effect from 7 August 2025. Chile’s Ministry of Finance published Executive Decree No. 242 in the Official Gazette on 6 August 2025, revising the components used to calculate the excise tax on fuels, as
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Indonesia, Peru sign FTA
The FTA aims to strengthen cooperation on combating narcotics, illegal trade, and collaboration across food, mining, energy transition, fisheries, and defence sectors between Indonesia and Peru. Indonesia and Peru signed a free trade agreement
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Chile: SII sets VAT filing and payment rules for foreign e-sellers, digital platforms
SII’s new Resolution No. 93 requires foreign taxpayers registered to declare and pay 19% VAT on remote sales or facilitation of low-value goods. Chile’s tax authority (SII) has issued Resolution No. 93 of 30 July 2025, setting rules for VAT
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Cambodia sets 0% duty on select US goods
Cambodia sets a 0% customs duty on new goods originating from and imported directly from the US. Cambodia’s government issued Sub-Decree No. 139 on 8 August 2025, establishing a 0% customs duty rate on goods originating from and imported
See MoreUS, China agree to 90-day tariff suspension
Without the extension, US tariffs on Chinese goods would have climbed to 145%, while Chinese tariffs on US goods would have reached 125% from 11 August. President Donald Trump signed an executive order on 11 August 2025, extending the tariff
See MoreChile: SII issues guidance on VAT, invoicing rules for outsourced services
The Ruling clarifies VAT treatment and invoicing requirements for outsourced services. Chile’s tax administration (SII) published Ruling No. 1394-2025 on its website on 24 July 2025, in which it provided clarification of value added tax (VAT)
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Argentina extends payment scheme for tax debts from miscalculated losses
The updated plan introduces fines in the payment plan, reduces the initial advance payment to 2% of the total tax debt, and extends the application deadline to 31 October 2025. Argentina’s tax authority (ARCA) has renewed the payment plan
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Bolivia: National Tax Service extends corporate tax filing deadlines for FY March 2025
The extension was issued in Resolution No. 102500000034 on 4 August 2025. Bolivia's National Tax Service (SIN) extended the corporate tax return and payment deadline for the fiscal year ending on 31 March 2025 to 18 August 2025. The extension
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Switzerland to face 39% tariff as trade talks with the US falterÂ
Switzerland faces 39% US tariffs on exports starting 7 August 2025. Switzerland is likely to face 39% US tariffs on its exports after the country’s President Karin Keller-Sutter failed to secure a trade deal with the US, which is set to take
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US implements tariffs on one-kilo gold bars
The US has imposed tariffs on imports of one-kilo gold bars, potentially affecting Switzerland. According to the Financial Times report on 7 August 2025, the US has imposed tariffs on imports of one-kilogram gold bars, citing a July 31 letter
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