Bolivia: Tax authority extends corporate income tax filing deadline
Bolivia’s tax authority issued Resolution No. 102500000015 on 16 April 2025, which extends the corporate income tax (IUE) filing deadline for tax years ending 31 December 2024. The new extended deadline is set for 30 May 2025. The extended
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Canada introduces relief for businesses hit by US tariffs
Canada’s Department of Finance has unveiled new support measures on 15 April 2025 aimed at assisting Canadian businesses impacted by tariffs imposed by both the US and Canada. The measures were announced by Minister of Finance, François-Philippe
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Chile sets new invoice rules for high-value goods sales to non-VAT taxpayers
Chile's Internal Revenue Service (SII) has issued Resolution No. 44 of 7 April 2025, setting new invoice rules for sales of goods to non-VAT taxpayers when the transaction amount exceeds 135 UF. The Unidad de Fomento (UF) is an index-linked unit
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Peru and Switzerland conclude tax treaty protocol negotiations
Peru and Switzerland initialled a protocol to amend their 2012 tax treaty on 16 April 2025. The protocol, aimed at aligning the agreement with OECD BEPS standards, marks the first modification to the treaty. It will require formal signing and
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US: IRS extends tax deadlines to 25 September for North Carolina storm victims
The US Internal Revenue Service (IRS) issued NC-2025-01 on 17 April 2025, in which it announced an extended deadline for taxpayers in North Carolina impacted by Hurricane Helene. The new deadline, now set for 25 September 2025, replaces the
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US: IRS urges taxpayers to review withholding for next year
The US Internal Revenue Service (IRS) issued IR-2025-52 on 17 April 2025, in which it reminded taxpayers that proper tax withholding now is key to avoiding surprises when they file their tax return next year. Making any needed adjustments earlier in
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Brazil retaliates with economic reciprocity law against US tariffs
Brazil’s government has published and enacted Law No. 15.122 of 11 April 2025 in the Official Gazette on 14 April 2025. This legislation, also known as the “Economic Reciprocity Law, enables Brazil to impose import duties and suspend trade
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US: California sues Trump administration over tariffs
California Governor Gavin Newsom and California Attorney General Rob announced that they have filed a lawsuit in federal court, challenging the tariffs imposed by the Trump Administration on 16 April 2025. In the lawsuit, Governor Newsom and
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US: Trump administration advances plans to impose semiconductor tariffs
US President Donald Trump has moved forward with plans to impose tariffs on semiconductors and pharmaceutical products. His administration has announced investigations into the national security risks associated with importing goods such as
See MoreUS: IRS urges taxpayers to file late returns quickly to minimise penalties
The US IRS has issued a statement urging taxpayers who missed the filing deadline to file their tax returns promptly in order to reduce interest and penalties on 16 April 2025. The IRS encourages taxpayers who missed the filing deadline to
See MoreCanada: Prince Edward Island announces 2025-26 budget, includes corporate tax cuts
The Canadian province of Prince Edward Island presented the 2025-26 Operating Budget to the legislative assembly on 10 April 2025. The province’s 2025-26 budget includes CAD 294.6 million in new spending, bringing total expenditure to over CAD
See MoreUS: Georgia speeds up corporate tax rate cuts
The US state of Georgia Governor Brian P. Kemp signed the House Bill (HB) 111 into law on 15 April 2025, expediting the planned reduction of the corporate and individual income tax. The individual income tax rate cut was established by HB 1437 in
See MoreUS: Trump administration plans to impose 245% tariff on ChinaÂ
The tariff wars between two of the world's largest economies, the US and China, show no signs of slowing down. In the latest move, the Trump Administration said that China could face tariffs as high as 245% in response to its retaliatory measures.
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Canada imposes 10% tax on foreign homebuyers in Toronto
The City of Toronto will introduce a 10% tax on residential property purchases by foreign buyers, including individuals and corporations, not residing in Canada, effective 1 January 2025. This newly introduced tax falls under the Municipal
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Ecuador: Tax Authority issues updated list of designated special taxpayers
Ecuador's Tax Authority (SRI) has published Resolution No. NAC-DGERCGC25-00000006, which introduces a list of ten companies classified as "special taxpayers." This designation involves stricter reporting requirements, enhanced audits, and the
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Ecuador: SRI revises mining annex reporting rules
Ecuador's Internal Revenue Service (SRI) has amended the Mining Annex reporting requirements through Resolution No. NAC-DGERCGC25-00000007, effective from 28 March 2025. The revised resolution updates criteria from the previous Mining Annex
See MoreUS: IRS announces over USD 1 billion in 2021 in unclaimed tax refunds, requests taxpayers to check their eligibilityÂ
The US Internal Revenue Service (IRS) issued IR-2025-46 on 11 April 2025, reminding the 1.1 million people who didn’t file their tax year 2021 federal tax returns that they may be eligible for a refund if they file by the 15 April 2025
See MoreUS: Trump overturns digital asset reporting regulations Â
US President Donald Trump signed into law H.J.Res.25 (Congressional Review Act Disapproval Resolution on Cryptocurrency Broker Reporting from the IRS) on 10 April 2025, a joint resolution of disapproval aimed at overturning the final regulations
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