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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US: House of Representatives reintroduces Unfair Tax Prevention Act bill to block extraterritorial taxes
Representative Ron Estes (R-Kansas) reintroduced the Unfair Tax Prevention Act in the US House of Representatives on 27 March 2025. Rep. Ron Estes (R-Kansas), joined by every Ways and Means Republican, reintroduced the Unfair Tax Prevention Act
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Canada: Saskatchewan to halt industrial carbon tax from April 2025
The Saskatchewan government announced in a release on 27 March 2025 that it will pause the industrial carbon tax rate under its Output-Based Performance Standards (OBPS) Program. This decision will provide immediate financial relief to families,
See MoreUS: Senator Ron Wyden exposes Pfizer’s tax dodging
US Senate Finance Committee Ranking Member Ron Wyden (D-OR) released the findings from his investigation into Pfizer's tax practices on 27 March 2025. The findings revealed that Pfizer declared zero taxable profits in the US on USD 20 billion in
See MoreUS: Trump imposes tariffs on Venezuelan oil buyers, foreign auto imports
President Donald Trump has announced plans to impose a 25% tariff on any country purchasing oil from Venezuela on 31 March 2025. The latest tariffs follow the Trump administration's implementation of tariffs under the America First Trade Policy,
See MoreUS outlines CAA with Switzerland
The US Internal Revenue Service (IRS) has released Announcement 2025-08, which outlines a competent authority arrangement (CAA) established with Switzerland in December 2024. The Competent Authority Arrangement entered into by the competent
See MoreCosta Rica consults draft resolution for unique tax registry registration
The Costa Rican Tax Administration has initiated a public consultation regarding the draft resolution which outlines updated procedures for taxpayer registration, updates, and deregistration in the Unique Tax Registry (RUT) on 18 March
See MoreUS: Arkansas offers tax relief for storm affected residents
Arkansas Governor Sarah Huckabee Sanders (R) signed an executive order on 20 March 2025 announcing tax filing and payment relief for individuals and businesses impacted by the severe thunderstorms and tornadoes that swept through the state on 14
See MoreCosta Rica increases tax on tobacco, derivatives
Costa Rica’s tax authority (DGT) has announced an increase in the specific tax on tobacco and tobacco-derived products, raising the rate from CRC 26.59 to CRC 26.92 per unit. This adjustment is outlined in Resolution No. MH-DGH-RES-0023-2025,
See MoreUS: Arkansas increases property tax credit, raises homestead property tax credit by USD 100
The Arkansas Senate has approved a property tax cut to save Arkansas homeowners USD 56 million annually. The tax reduction is in Senate Bill 263, which will take effect for assessment years beginning on or after 1 January 2025. It raises the
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Peru advances tax treaty talks with Australia, France, Saudi Arabia, Singapore, UAE
The Peruvian Ministry of Economy and Finance announced that it is working to finalise tax treaty negotiations with Australia, France, Saudi Arabia, Singapore, and UAE on 20 March 2025. Peru has signed 10 agreements that provide a secure and
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Dominican Republic: DGII consults general rule for tax litigation reduction, payment facilities
The Dominican Republic’s Directorate General of Internal Revenue (DGII) has opened a public consultation on a draft general rule for tax litigation reduction and payment facilities on 19 March 2025. The measure proposes a temporary 12-month
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