The UK has recently released draft legislation to ratify Double Taxation Agreements (DTAs) signed with Algeria, Brazil, Bulgaria, Croatia, Senegal, and Sweden.
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Brazil: Chamber of Deputies approve pending protocol to tax treaty with Colombia
Brazil's Chamber of Deputies has passed Draft Legislative Decree No. 311/2024, which ratifies the pending income tax treaty with Colombia on 27 March 2025. The treaty has been presented to the Senate for final approval. Signed on 5 August
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Bulgaria adopts 2025 Budget Act with tax reforms
Bulgaria published its 2025 State Budget Act on 27 March 2025, introducing several key updates. The Act aligns the countryās Pillar 2 global minimum tax laws with OECD guidelines from 2023 and 2024, including rules on tax carryforwards,
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UK: HMRC announces increase in late payment interest rates for unpaid taxes
The UKās tax, payments and customs authority (HMRC) has published a policy paper on 26 March 2025 outlining an increase in the late payment interest rate for unpaid tax liabilities by 1.5 percentageĀ points. This change will take effect from 6
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UK: HMRC launches consultation on tax certainty for major projects
The UKās tax, payments and customs authority (HMRC) has initiated a public consultation on 26 March 2025 to gather opinions on a new process that aims to provide major projects with greater certainty regarding the tax that will apply in
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Bulgaria: Parliament approves lower VAT registration threshold starting April 2025
Bulgaria's parliament passed the State Budget Bill for the year on 21 March 2025 which includes amendments to the Value Added Tax (VAT) Act. The amendments lower the mandatory VAT registration threshold from the current BGN 166,000 to BGN
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Bulgaria: Parliament adopts 2025 state budget
Bulgariaās National Assembly has adopted the draft law on the state budget for 2025 at its second reading on 21 March 2025. The 2025 budget proposes no tax increases and projects a deficit of 3% of the gross domestic product (GDP). It forecasts
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