UK: HMRC consults transfer pricing framework, permanent establishment rules, diverted profits tax
The UK’s tax authority, His Majesty’s Revenue and Customs (HMRC) has launched consultations seeking public input on potential updates to the UK’s transfer pricing framework, permanent establishment rules and the diverted profits tax on 28
See More
UK: HMRC issues new VAT grouping guidance for care sector to combat tax avoidance
The UK tax authority, His Majesty's Revenue and Customs (HMRC) has issued new guidance on VAT grouping in the care sector to curb tax avoidance. Published in Revenue and Customs Brief 2 (2025) on 24 April 2025, the update clarifies HMRC’s stance
See More
UK: HMRC launches consultation to improve dispute resolution process
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) launched a public consultation on 28 April 2025 to update and improve its dispute resolution process. The initiative seeks to support taxpayers in recognising and using the most
See More
Russia: FTS confirms VAT on leased crypto mining equipment is non-deductible
Russia’s Federal Tax Service (FTS) clarified that VAT on leased crypto mining equipment is not deductible on 9 April 2025. The tax authority explained that since digital currency mining is not a VAT-taxable activity, input VAT included in lease
See MoreRussia proposes 10% windfall tax on large profits for 2024–2025
The Russian State Duma is reviewing a draft law that would impose a windfall tax on banks and major energy companies, including those involved in hydrocarbon extraction, petroleum refining, and the production and export of liquefied natural gas
See More
EU Parliament tax panel debates green shift, competitiveness and simplification
The European Parliament's Subcommittee on Tax Matters (FISC) organised a public hearing on "The role of tax in aligning the green transition and competitiveness" On 24 April 2025. At the hearing, experts were questioned on the role that tax
See More
New Zealand, Iceland continue tax treaty talks
New Zealand's Ministry of Foreign Affairs and Trade announced that Iceland and New Zealand have concluded a second round of negotiations for an income tax treaty in February 2025. This agreement seeks to eliminate double taxation, combat tax
See More
Japan: Upper House approves new income tax treaty with Ukraine
Japan's upper house of parliament (House of Councillors) approved the new income tax treaty with Ukraine on 23 April 2025. The new treaty updates tax rules on business profits and investment income, introduces measures to prevent treaty abuse,
See MoreUK launches technical consultation on 2027 carbon border tax
The UK's tax authority, His Majesty’s Revenue and Customs (HMRC) has opened a technical consultation on draft primary legislation for the UK’s planned carbon border adjustment mechanism (CBAM) on 24 April 2025, which is scheduled to come into
See More
OECD consults Ukraine’s transfer pricing rules
The OECD is working with Ukraine's Ministry of Finance to align Ukraine's Transfer Pricing Framework with OECD Transfer Pricing Guidelines, as part of the implementation of Ukraine's National Revenue Strategy. Project description To ensure
See MoreUK: HMRC urges sole traders and landlords to prepare for making tax reporting digital by April 2026
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has reminded sole traders and landlords with an income over GBP 50,000 that they have less than a year to prepare for Making Tax Digital for Income Tax (MTDIT), which takes effect on 6
See MoreUK: HMRC publishes report on R&D tax reliefs, expenditure credit, patent box
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has released a report, which was commissioned to BMG, on regional data on Corporate Tax reliefs on 24 April 2025, detailing research on R&D tax relief for SMEs, the R&D
See More
Ukraine extends Martial Law until August, delaying elections amid war
Ukraine’s parliament has extended martial law until August, delaying elections amidst the ongoing war with Russia. The President of Ukraine has extended martial law for 90 days, from 9 May to 6 August 2025, with the signing of Draft Law on 18
See MoreUK: HMRC issues penalty guidelines for AEOI non-compliance
The UK tax authority, His Majesty's Revenue and Customs (HMRC) issued guidance (CC/FS46) on 14 April 2025, detailing the penalties that financial institutions may face for failing to comply with Automatic Exchange of Information (AEOI)
See More
European Commission opens consultation on EU capital markets barriers
The European Commission has launched a targeted consultation to identify key barriers, including tax issues, that hinder the integration of capital markets across the EU. The consultation is part of the European Commission's Savings and Investments
See More
UAE: Cabinet of Ministers approves tax treaty with Russia
The UAE Cabinet of Ministers approved the income and capital tax treaty with Russia on 14 April 2025. Earlier, representatives from Russia and the UAE have signed a new income and capital tax treaty on 17 February 2025. The treaty will come
See More
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
See More
Liechtenstein: Government approves tax treaty with Croatia
The Liechtenstein government approved the ratification of the income and capital tax treaty with Croatia on 15 April 2025. The agreement aims to eliminate double taxation between the two countries. The treaty adheres to standards set by the OECD
See More