Canada: Prime Minister Mark Carney abolishes consumer carbon tax
Canadian Prime Minister Mark Carney has abolished the consumer carbon tax effective from 1 April 2025. The change, enacted through Orders in Council (OICs) 2025-0446 and 2025-0447, removes the Canada fuel charge, introduced by former Prime Minister
See More
Peru, Spain to resume tax treaty talks in March 2025
Peru and Spain will resume income tax treaty negotiations from 26 to 28 March 2025 in the fifth round of negotiations for an income tax treaty. Earlier, the announcement was made by Luis Ibérico, Peru’s ambassador to Spain, during an event on
See More
Chile sets tax rates for mining SMEs
Chile's Internal Revenue Service (SII) has issued Resolution No. 33 of 13 March 2025, which sets new tax rates for small miners and SMEs involved in mining and selling gold and silver ores. The rates for small artisan miners using the simplified
See More
Ecuador launches tax benefits to support women entrepreneurs
Ecuador has introduced a series of tax benefits to support female entrepreneurs with the enactment of the Organic Law for Promoting the Economy of Women Entrepreneurs, published in the Official Gazette on 10 March 2025. The law aims to reduce
See More
Argentina and Czech Republic end tax treaty talks
Argentina and the Czech Republic officials have concluded the income tax treaty on 14 March 2025. This follows after officials from both countries met from 11 to 14 March 2025 to negotiate their first-ever income tax treaty. This agreement
See More
Brazil to tax overseas corporate profits
Brazil's government has proposed imposing a 10% tax on corporate profits and dividends sent abroad on 17 March 2025 to offset the revenue loss from expanding the tax exemption brackets for low-income individuals. According to the country's
See More
US: IRS announces tax relief for West Virginia taxpayers impacted by adverse weather
The US Internal Revenue Service (IRS), in a release – IR-2025-34 on 14 March 2025, announced tax relief for individuals and businesses in parts of West Virginia affected by severe storms, straight-line winds, flooding, landslides and mudslides
See More
Peru: Congress approves bill for MLI ratification
The Peruvian Congress approved the bill for the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 13 March 2025. Following the internal ratification process,
See More
Costa Rica: Tax Authority clarifies use of electronic invoices for imported goods
Costa Rica's Tax Authority has issued Private Letter Ruling No. MH-DGT-0006-2025 on 3 March 2025, clarifying the requirements for electronic invoices in relation to imports. For tangible goods purchased from non-resident suppliers, the standard
See More
Argentina introduces VAT and income tax withholding for mining
Argentina’s tax authority has issued General Resolution 5663/2025, which amends General Resolution 5333 on 10 March 2025. General Resolution No. 5333 introduced the "Fiscal Registry of Mining Activities," creating withholding regimes for
See More
US: CRS issues report on tax reform and itemised deductions
The US Congressional Research Services (CRS) published a new report on Selected Issues in Tax Reform: Itemized Deductions on 4 March 2025. The report analyses changes to itemised deductions under the Tax Cuts and Jobs Act (TCJA) through 2025 and
See More
Canada: Ontario suspends 25% power surcharge following Trump’s tariff threat
Canadian province Ontario has suspended its 25% surcharge on electricity exports to the US after talks between US Commerce Secretary Howard Lutnick and Ontario Premier Doug Ford. The talks followed after President Donald Trump announced to raise
See More
European Commission responds to US steel, aluminium tariffs
The United States imposed tariffs of up to 25% on imports of steel, aluminium, and certain products containing steel and aluminium from the European Union and other trading partners On 12 March 2025. In response, the Commission is launching a series
See More
Canada, Uruguay to negotiate updated investment agreement
Canada and Uruguay have agreed to begin negotiations on updating their Foreign Investment Promotion and Protection Agreement (FIPA), originally signed in 1999. The revised agreement aims to strengthen trade and investment ties between the two
See More
US: IRS confirms US-Bulgaria CbC exchange agreement
The IRS updated its Country-by-Country Reporting (CbCR) Jurisdiction Status Table on 11 March 2025, confirming that the competent authority arrangement between the US and Bulgaria became operative on 9 September 2024. Country-by-Country
See More
Jamaica outlines new tax measures in 2025-26 budget
Jamaica’s Finance Minister Fayval Williams announced a JMD 1.26 trillion budget for 2025-26 on Tuesday, 11 March 2025. The Minister explained that the 2025/26 budget will be funded by JMD 949.5 billion in tax revenues, JMD 139.8 billion in
See More
Chile introduces new advance pricing agreement process
Chile’s Internal Revenue Service (SII) has issued Resolution No. 28 of 6 March 2025 on 6 March 2025, introducing a new approach for taxpayers to request advance pricing agreements (APAs). This new resolution replaces previous resolutions from
See More
US: Connecticut extends 2024 filing deadline for composite and pass-through entity taxes
The Connecticut Department of Revenue Services (DRS) has extended the 2024 filing and payment deadline for state composite income tax and pass-through entity tax (PTET) returns to 15 April 2025. The extension comes as DRS works with software
See More