Canada retaliates against US tariffs with multi-level countermeasures
Canada’s federal government has announced a detailed tariff package, which includes a comprehensive list of US products that will now face a 25% tariff, effective 4 March 2025, in response to the recent US tariffs on imports of Canadian
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Costa Rica announces moveable property tax brackets for 2026
Costa Rica’s government has released the updated tax brackets for motor vehicles, aircraft, recreational vessels, and motorcycles, adjusted annually for inflation, along with fixed taxes for taxis, buses, and heavy cargo vehicles on 28 January
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Canada: British Columbia 2025 budget proposes real estate tax and film industry changes
The Canadian province of British Columbia unveiled its 2025 budget on 4 March 2025. The 2025 budget has no changes to corporate or personal tax rates. However, it proposes the following tax measures: Increase in the speculation and vacancy tax
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US: IRS announces foreign income exclusion eligibility waiver countries for 2024
The US Internal Revenue Service (IRS) has released Revenue Procedure 2025-17, set to be published in Internal Revenue Bulletin 2025-13 on 14 March 2025. This revenue procedure provides information to any individual who failed to meet the
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Argentina, Czech Republic begin first round of tax treaty talks
Argentina and the Czech Republic will meet from 11-14 March 2025 to initiate negotiations for their first-ever income tax treaty. This agreement seeks to eliminate double taxation on income and capital between the two countries while combating
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US: IRS announces unchanged interest rates for Q2 2025
The US Internal Revenue Service (IRS), announced – on 6 March 2025 – that the interest rates will remain the same for the calendar quarter beginning 1 April 2025. For individuals, the rate for overpayments and underpayments will be 7% per
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US: Trump halts tariffs on USMCA products
US President Donald Trump signed executive orders halting the recently imposed tariffs on imports from Canada and Mexico covered under the United States-Mexico-Canada Agreement (USMCA) yesterday, on 6 March 2025. The USMCA allows goods to move
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Argentina cuts late tax payment interest rates
Argentina has reduced late tax payment interest rates and fixed them from 1 March 2025. The compensatory interest rate drops to 4.0% per month (from 7.26%) and the punitive rate to 5.0% per month (from 8.38%). Tax refunds will accrue interest at
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US: Chamber of Commerce urges US Trade Representative to boost digital trade leadership
The US Chamber of Commerce published a letter on 3 March 2025 urging US Trade Representative Jamieson Greer to prioritise digital trade rules and strengthen US leadership in global markets. This includes acting against foreign countries imposing
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US to impose reciprocal tariffs on India and other countries
The US will implement reciprocal tariffs on imports from countries imposing high tariffs on US goods, including India starting 2 April 2025. President Donald Trump announced this measure during a joint session of Congress, criticising India's 100%
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US: Trump exempts automakers from Mexican, Canadian tariffs for a month
According to the White House, on 5 March 2025, US President Donald Trump has decided to exempt automakers from his 25% tariffs on Canada and Mexico for one month if they follow existing free trade rules. Following discussions with the three
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US: IRS sets 2025 housing cost amounts exclusion limits
The US Internal Revenue Service (IRS) has issued Notice 2025-16, outlining the housing expense limits under section 911 of the Internal Revenue Code for 2025. This notice provides adjustments to the limitation on housing expenses for purposes of
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Dominican Republic repeals digital services tax on foreign platforms
President of the Dominican Republic Luis Abinader issued Decree 30-25, which was published in Official Gazette No. 11186 on 25 January 2025. The decree required foreign digital platforms operating in the Dominican Republic to register with the
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Ecuador cuts VAT on tourism services for carnival holiday
Ecuadorian President Daniel Noboa has enacted Executive Decree No. 542 on 24 February 2025, temporarily lowering the Value Added Tax (VAT) rate to 8% for tourism-related services during the Carnival holiday period from 1 March to 4 March
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Brazil: Federal Revenue launches pilot program Receita Sintonia to encourage tax compliance
The Brazilian Federal Revenue Service (RFB) published Ordinance RFB No. 511/2025 on Monday, establishing the pilot phase of the Receita Sintonia Programme. The initiative aims to encourage companies to comply with tax and customs obligations by
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Costa Rica seeks public input on tobacco products taxation proposal
The Costa Rican Tax Administration (DGT ) has published a draft resolution for public consultation to amend Resolution DGT-R-006-2012, which governs the taxation of tobacco products. The draft resolution was published on 26 February 2025. This
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Costa Rica opens consultation on vape products tax refund
The Costa Rican Tax Administration (DGT) has released a draft resolution for public consultation on changes to Resolution DGT-R-05-2022, which governs the tax return for the specific tax established by Law 10066 on vape products. The draft
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Argentina: Withholding tax and VAT exemptions on imports ends on March 2025
Argentine tax authority (ARCA) has issued General Resolution (RG) 5655/2025 on 28 February 2025. Advance income tax (6%) and VAT (up to 20%) are usually collected on imported goods, though taxpayers can apply for an exclusion certificate to avoid
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