EU, US remain far from reaching a tariff agreement
The EU Economic Commissioner, Valdis Dombrovskis, stated on Friday, 25 April 2025, that the United States and the European Union still have work to do to reach a deal that avoids tariffs on each other's goods. The US has imposed 25% tariffs on EU
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US: Arkansas offers tax credits for headquarters relocations and automation investments
Arkansas Governor Sarah Huckabee Sanders signed new legislation on 17 April 2025, which introduces tax incentives to attract corporate headquarters and encourage modernisation investments. Tax credits for new corporate headquarters
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US: IRS issues guidance on APA submission review
The US Internal Revenue Service (IRS) Large Business and International (LB&I) division released memorandum LB&I-04-0425-0005 on 22 April 2025, which reissues interim guidance LB&I-04-0423-0006 on 25 April 2023. This
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US: Oregon, 11 States file lawsuit against Trump Administration over tariffs
The Oregon Attorney General has announced a multi-state lawsuit filed on 23 April 2025, challenging the Trump Administration's executive orders to raise tariffs globally without congressional approval. The case is led by Oregon Attorney General
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US: Trump warns Canada auto tariff could rise above 25%
The US 25% tariffs imposed on cars imported from Canada could be further increased, said President Donald Trump yesterday, 23 April 2025. "When I put tariffs on Canada - they're paying 25% - but that could go up, in terms of cars. All we're doing
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US: IRS, Treasury to scrap basis shifting transaction of interest rules
The US Department of the Treasury and Internal Revenue Service (IRS) issued Notice 2025-23 on 17 April 2025, announcing plans to propose removing the basis shifting transactions of interest regulations (T.D. 10028) originally issued on 14 January
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US: Indiana approves 10% property tax credit
Indiana’s Governor Mike Braun (R) signed Senate Bill SB 1 into law on 15 April 2025, introducing significant tax relief measures for Indiana residents and businesses. The legislation provides homeowners with a property tax credit while raising
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US: IRS updates guidelines for IRC 263A accounting method changes
The US Internal Revenue Service ( IRS) has published an updated International Practice Unit titled IRC 481(a) Adjustments for IRC 263A Accounting Method Changes. This practice unit was updated to remove references to resources that are no longer
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US: White House denies targeting climate-focused non-profit organisations’ tax-exempt status
The White House confirmed on Tuesday, 22 April 2025, that there is no draft or consideration of any executive order targeting the tax-exempt status of climate-focused non-profit organisations. This development follows after speculations arose
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US: Republican lawmakers tackle clean energy dilemma as significant investments clash with Trump’s skepticism
Republican lawmakers planning to extend US President Donald Trump's 2017 tax cuts, also known as the “Tax Cuts and Jobs Act (TCJA),” are facing a clean-energy dilemma as significant investments in their districts clash with Trump's skepticism of
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US: VP Vance lands in India to negotiate trade deal amid Trump’s tariff tensions
US Vice President JD Vance arrived in New Delhi, India, on Monday, 21 April 2025, for a four-day visit. During the visit, Vance met Indian Prime Minister Narendra Modi, where the two leaders planned to build on the framework for stronger
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Italy, US call for non-discriminatory digital services tax
The Trump Administration has released the United States–Italy Joint Leaders Statement on 18 April 2025, marking the conclusion of the first official meeting between US President Donald Trump and Italy’s Prime Minister Giorgia Meloni. The
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Bangladesh to seek duty-free access for exports to US
Bangladesh plans to ask the US for duty-free access for its key exports during meetings in Washington from 21-25 April 2025, held alongside the World Bank and IMF Spring gatherings. Although the US offers zero tariffs on many products, most
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Canada: PM Carney promises tax cuts in election bid
Canadian Prime Minister Mark Carney has pledged tax cuts, infrastructure spending, and defence investments during an election campaign platform on Saturday, 20 April 2025. Carney highlighted that his government is working towards policies to
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US: IRS to waive penalties for some micro-captive disclosures
The U.S. Internal Revenue Service (IRS) has released Notice 2025-24 on 11 April 2025, announcing that it will waive penalties for participants and material advisors of reportable micro-captive insurance transactions if disclosure statements are
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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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