HMRC has issued updated guidelines to simplify Patent Box computations for lower tax rates on profits from intellectual property. Reduce compliance errors and maximize your tax benefits.

Taiwan’s Ministry of Finance outlines new rules for businesses switching to a special fiscal year. Ensure compliance with tax declaration and retained earnings requirements to avoid penalties.

Italy introduces tax credits for investments in Southern Italy’s Special Economic Zone. Sectors like agriculture and manufacturing can claim credits for land, machinery, and facility improvements. Applications open now!

Costa Rica has mandated reporting by digital platform operators to align with OECD model rules. Effective January 1, 2025, with first reports due by April 30, 2026. Ensure your systems are ready!

From July 1, 2025, capital gains in Bangladesh will be taxed at 15% for most assets, with specific rules for securities and asset holding periods. Plan ahead for compliance with the updated Seventh Schedule!

Excise taxes on sugary drinks and vapes are set to increase, VAT exemptions for certain goods will be abolished, and corporate tax incentives for e-commerce will change. Uzbekistan is driving tax reforms for a healthier economy.

The Philippines has simplified tax treaty benefits for non-resident investors in government securities. A one-time setup process now ensures automatic application of treaty rates. This reform is set to deepen the capital market.

A new Dutch decree outlines the criteria for determining if foreign legal forms are comparable to Dutch forms for tax purposes. The decree includes a list of 246 foreign legal forms from 89 jurisdictions. Essential for cross-border business planning!

Malaysia updated its green technology tax incentives, extending Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE) until 2026! Qualify for up to 100% statutory income offset on eligible projects. Learn how to apply.

The Fourth Bureaucracy Relief Act reduces retention periods for accounting and VAT-related invoices from 10 to 8 years and raises thresholds for monthly VAT returns from €7,500 to €9,000. Transfer pricing documentation deadlines have also tightened. Effective from January 1, 2025!

The Colombian Tax Authority has clarified certification requirements for interest deductions on third-party debts under thin capitalization rules. Key takeaway: failure to provide certification could mean limited deductibility based on a 2:1 debt-equity ratio. Stay compliant—get the details on this ruling!

Starting 1 July 2025: Tourism GST: 17% Cafes for staff at tourism sites: 8% (from 5 Nov 2024) New Departure, Airport & Green Tax rates incoming!

Starting 25 Nov 2024: Late Payment Rate: 7.25% Repayment Rate: 3.75% Aligned with UK base rate changes, this impacts VAT payments & overpayments.

Key changes include: - 1% cut in social security contributions & elimination of business tax for freelancers - 3-year tax exemption for long-term rental properties - Health insurance tax relief for minors & tax-free allowances for new parents - Boosted R&D and angel investor incentives - New cruise tax & seasonal fees on tourist accommodations

ZATCA has set criteria for taxpayers with VAT revenue over SAR 2.5M in 2022 or 2023. Deadline to integrate with ZATCA’s FATOORA platform: July 31, 2025. This phase is key for achieving seamless digital tax compliance.

Poland’s Ministry of Finance has launched the final consultation phase for the National e-Invoicing System (KSeF). Key dates: • Feb 1, 2026 – Mandatory KSeF for taxpayers with sales over PLN 200 million in 2025 • April 1, 2026 – Mandatory for all other taxpayers • Sept 30, 2026 – Transitional period for small taxpayers using limited invoices 🗓️ Comments due by Nov 19, 2024 (or Nov 22 for specific invoice structures).

Kenya’s Parliament is reviewing the Tax Laws (Amendment) Bill 2024, proposing a Significant Economic Presence Tax for digital services and a Minimum Top-Up Tax for multinationals.

Israel’s proposed 2025 budget includes a 1% increase in the VAT rate, moving it to 18%. This adjustment, along with other measures, reflects budgetary goals.

The EU’s VAT in the Digital Age (ViDA) proposal, which simplifies e-invoicing and reporting requirements, has been approved. The new rules will impact cross-border and domestic transactions by 2030, with a push for member states to adopt digital reporting sooner.

Latvia is introducing mandatory e-invoicing for B2B transactions in goods and services starting January 2026. Detailed regulations will follow by July 2025. This change, recently approved by Latvia's Saeima, is aimed at enhancing digital compliance.

In response to the UK’s Autumn Budget, Isle of Man is set to introduce VAT on private school fees and raise tobacco duties. Alcohol duty on draught products will decrease from February 2025.

From November 4, 2024, to December 2025, Cyprus has implemented a 0% VAT rate on essential goods like baby milk, diapers, and fresh produce. This measure is aimed at easing costs for households.

Poland’s KSeF system for mandatory e-invoicing will cover all taxpayers starting April 2026. A transition period until September 2026 gives smaller businesses time to adapt.

Chile’s recent law introduces stringent anti-avoidance rules and updates to transfer pricing, aligning with OECD guidelines. Changes include new controlled foreign company rules and digital VAT mandates for platforms.

UK’s Autumn Budget introduces significant tax changes for non-UK domiciled individuals, CGT rate increases, and Stamp Duty hikes for additional properties. Businesses should also prepare for a new cryptoasset reporting framework by 2026.

The Dominican Republic has rolled out regulations for mandatory e-invoicing under Decree 587-24, applying initially to large taxpayers. Gradual implementation will bring all taxpayers on board.

The UAE plans to enforce e-invoicing for B2B and B2G transactions from July 2026. The government is currently working on accreditation for service providers and will update legislation by mid-2025.

Nova Scotia will reduce its Harmonized Sales Tax rate to 14% starting April 2025, aiming to support households and businesses.