Brazil: Congress approves amending protocol to tax treaty with Sweden
Brazil’s Congress has approved the amending protocol to the Brazil-Sweden Income Tax Treaty (1975) through Legislative Decree No. 167/2025 on 5 May 2025. The legislative Decree No. 167/2025 was published in the Official Gazette No. 83 on 6 May
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Argentina: Senate ratifies BEPS MLI
Argentina's Senate approved the law to ratify the Multilateral Convention on Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI) on 7 May 2025. The Chamber of Deputies approved it in October 2024. Once the internal
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Colombia: DIAN confirms temporary taxes to remain in effect despite end of state internal unrest
Colombia’s tax authority (DIAN) has confirmed that temporary taxes introduced under Decree 175 of 2025 will remain in effect until 31 December 2025, despite the end of the state of unrest in the Catatumbo region. These taxes include: 19%
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Dominican Republic: Tax Authority announces inflation adjustments measures for FY2025
The Dominican Republic's Tax Authority (DGII) has issued new inflation adjustment measures for the tax year ending on 31 March 2025. The adjustments, outlined in Resolution No. DDG-AR1-2025-00003, include key updates for both individuals and
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Mexico mandates select companies must also submit tax status report to National Housing Fund for Workers
Mexican taxpayers who are required, or have opted, to submit a tax audit report to the Tax Administration Service (SAT) for the 2024 fiscal year must also provide a copy of the corresponding tax situation report to the Institute of the National
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EU considers EUR 95 billion in tariffs on US if negotiations fail, targets industrial goods
The European Union is considering imposing EUR 95 billion (USD 108 billion) in tariffs on US exports if no progress is made during trade talks with the Trump administration. The proposed retaliatory measures mainly target industrial goods like
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Argentina revises income tax advance payment regime for businesses
Argentina’s tax authority (ARCA) has announced changes to the income tax advance payment regime on 30 April 2025 through General Resolution 5685/2025, which was published in the Official Gazette the same day. As per the amendment, companies
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Costa Rica raises exempt amount for individual business incomeÂ
Costa Rica updated the annual tax brackets for individual business income, raising the 0% exempt amount from CRC 4,094,000 to CRC 6,244,000 through Law No. 10.667, which was published in the Official Gazette on 24 April 2025. The updated tax
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Uruguay extends VAT relief for tourism sector
Uruguay published Decree No. 93/025 on 28 April 2025, extending the temporary value-added tax (VAT) reduction for certain tourism-related services until 30 April 2026. The measure continues the nine percentage point cut from the standard 22% VAT
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US: Montana cuts PIT rate and expands EITC in major tax overhaul
Montana Governor Greg Gianforte has signed a bill (HB 337) on 28 April 2025 that cuts the top income tax rate and expands relief for working families. Personal income tax (PIT)Â Starting in 2026, Montana's top income tax rate will drop from
See MoreArgentina offers payment plan for tax debts from miscalculated losses
Argentina’s tax authority (ARCA) has announced a payment plan under General Resolution 5684/2025 for tax debts from incorrectly calculated losses on 30 April 2025. In Argentina, tax losses can be carried forward for up to five years. ARCA
See MoreCosta Rica consults on digital tax compliance and cross-border VAT reporting
Costa Rica’s tax administration (DGT) has released two draft resolutions for public consultation. These initiatives are part of the country's digital transformation plan, aiming to simplify taxpayer interactions through the TRIBU-CR platform
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Bolivia extends tax return and report filing deadline for 2024
Bolivia's National Tax Service announced an extension of the tax return and payment deadline for the fiscal year ending on 31 December 2024 through Resolution No. 102500000021 of 30 April 2025. The deadline has been extended to 16 May 2025. The
See MoreCosta Rica consults on new tax information reporting reforms
Costa Rica’s tax administration (DGT) has released six draft resolutions for public consultation to improve tax reporting, streamline electronic compliance, and update filing methods. The proposed resolutions focus on migrating reporting
See MoreUS: New Jersey launches mediation pilot program for corporate sales and tax disputes
The New Jersey Division of Taxation is launching a two-year pilot mediation program on 1 October 2025. The Pilot is set to run for 24 months from 1 October 2025 to 30 September 2027. The program is open to all business entities involved in
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Costa Rica increases fuel tax
Costa Rica’s Ministry of Finance has announced a 0.03% increase in the single tax rate on fuels, as mandated by Law 8.114 of 2001. This tax is applied at fixed rates per litre based on the type of fuel. However, despite this adjustment, the
See MoreUS: Trump administration ends duty-free access for low-value imports from China, Hong Kong
The Trump administration ended duty-free access for low-value shipments from China and Hong Kong entering the US on Friday, 2 May 2025. This followed after President Donald Trump signed an executive order on 2 May 2025, which ended “de
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US: IRS offers tax relief to Virginia storm victims
The US Internal Revenue Service (IRS) in a release VA-2025-03 on 30 April 2025 announced today tax relief for individuals and businesses in parts of Virginia affected by severe winter storms and flooding that began on 10 February 2025. These
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