Brazil ends COVID-19 era support for events sector
Brazil has announced the conclusion of the Emergency Program for the Resumption of the Events Sector (PERSE) through RFB Executive Declaratory Act No. 2 of 21 March 2025, which was published in the Official Gazette. The PERSE program, established
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Canada: Quebec announces tax measures in 2025-26 budget
The Canadian province Quebec's finance minister, Eric Girard, delivered the province’s 2025-26 budget on 25 March 2025. The minister unveiled a budget projecting a CAD 13.6 billion deficit, with CAD 2.2 billion allocated for debt repayment and
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Cayman Islands updates CRS jurisdiction lists
The Cayman Islands updated its lists of participating and reportable jurisdictions in the Official Gazette on 31 March 2025 for automatic financial account information exchange under the Common Reporting Standard (CRS). The list of participating
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Canada announces new countermeasures to US tariffs
Canada’s Government has published a statement on 3 April 2025 outlining new countermeasures in response to the tariffs introduced by the US President Donald Trump on 2 April 2025. The statement claims that the United States administration
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China responds with additional tariffs on imports from US
China's Ministry of Finance announced the implementation of additional tariffs as a direct response to the reciprocal tariffs previously imposed by the Trump Administration on 4 April 2025. “This practice of the US is not in line with
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US: Taxpayers living and working abroad have until 16 June to file their 2024 federal income tax return
The US Internal Revenue Service (IRS) issued IR-2025-39 on 2 April 2025, in which it reminded taxpayers living and working abroad that they have until Monday, 16 June 2025, to file their 2024 federal income tax return and pay any tax due. This
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US: Utah reduces corporate franchise tax rates
The Governor of Utah, Spencer Cox, signed House Bill (HB) 106 on 26 March 2025, cutting corporate franchise tax rates to 4.50% from 4.55% for taxable years starting on or after 1 January 2025. The USD 100 minimum tax remains
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Brazil: Chamber of Deputies consider detox tax on digital platforms
Brazil's Chamber of Deputies is reviewing a draft bill on 18 March 2025 to introduce a digital detox contribution (CIDE-Detox Digital). As per the legislation, a 1% contribution tax would apply to companies with digital platforms earning over BRL
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US: USTR details reciprocal tariff calculation formula
The Office of the United States Trade Representative (USTR) has released a detailed explanation outlining the methodology behind the reciprocal tariff calculations announced by President Donald Trump on 2 April 2024. This includes a 10% baseline
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US: Trump introduces ‘reciprocal tariffs’, rattles global trade relations
Appearing in the White House Rose Garden, where large US flags were draped along the colonnades, President Trump signed an executive order implementing a 10% baseline tariff on imports from all countries on Wednesday, 2 April 2025. The move is
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US: USTR releases 2025 national trade estimate report
The Office of the United States Trade Representative (USTR) submitted the 2025 National Trade Estimate (NTE) to President Trump and Congress on 31 March 2025. The NTE is an annual report detailing foreign trade barriers faced by U.S. exporters
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Canada: PM Mark Carney scraps GST for first-time homebuyers
Canada’s Prime Minister Carney announced on 20 March 2025 that the government will eliminate the Goods and Services Tax (GST) for first-time homebuyers on homes at or under CAD 1 million. This tax cut will save Canadians up to CAD
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Brazil: Chamber of Deputies approve tax treaty with Colombia
Brazil’s Chamber of Deputies have passed Draft Legislative Decree No. 311/2024, which ratifies the income tax treaty with Colombia on 27 March 2025. It is now being presented to the Senate for final approval. Signed on 5 August 2022, it is
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Hong Kong, Barbados end first round of tax treaty talks
The Hong Kong Inland Revenue Department (IRD) announced that the officials from Barbados and Hong Kong concluded the first round of negotiations for an income tax treaty on 28 March 2025. The agreement between Hong Kong and Barbados aims to
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US: Trump directs Treasury to issue tax refunds electronically
US President Donald Trump issued an executive order on 25 March 2025 to modernise the Department of Treasury’s payment systems. In the executive order “Modernizing Payments To and From America’s Bank Account,” Trump instructed the
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Costa Rica plans new telecom tax rules
Costa Rica’s tax authority (DGT) published a draft resolution on 25 March 2025 with new regulations for filing and paying two taxes for telecommunications operators: the Spectrum Reserve Fee and the Special Parafiscal Contribution for FONATEL. The
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Costa Rica announces gradual cut in selective consumption tax
Costa Rica issued Executive Decree No. 44921-MH on 25 March 2025, introducing a gradual reduction of the selective consumption tax on goods previously classified as luxury items. Products categorised as luxury items include personal care items
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US: IRS report shows decline in APA executions and completion times in 2024
The US Internal Revenue Service (IRS) released Announcement 2025-13 - Announcement and Report Concerning Advance Pricing Agreements on 27 March 2025. The report outlines the experience, structure, and activities of the Advance Pricing and Mutual
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