Advance PAIS tax payments on imports are no longer required, effective November 25, 2024. This aligns with the PAIS tax expiration on December 22, 2024. A welcome relief for importers!

Effective December 2, 2024, interest on Tax Reserve Certificates drops to 0.55%. Make sure to adjust your tax planning accordingly!

New amendments introduce a corporate tax rebate, extended incentives for fund managers, and a Refundable Investment Credit to boost economic activity. Big changes for businesses!

SARS updates interest rates for taxes and refunds. Effective January 1, 2025, rates drop to 11.5% for taxes owed and 7.5% for overpayments.

Changes effective January 2025 ensure fairer penalties and extended deadlines during long holidays. Clarity and fairness for taxpayers!

A 15% corporate income tax begins January 2025 for MNEs under the global minimum tax rules. FAQs updated to guide compliance.

Master File and CbC reporting thresholds aligned with EUR 750M standard, effective January 2025. Deadlines also extended to 12 months post-fiscal year.

🇨🇱 Chile Updates VAT Rules

Approved laws ensure MNEs pay at least 15% tax, effective January 2025. Transparency and fairness in action!

New limits for reduced tax rates, VAT regimes, and flat-tax apply. Check if your business qualifies for these incentives!

Nationwide rollout of e-fapiao digital invoices begins December 1, 2024. A leap forward in streamlining tax compliance.

Taxpayer group 9 now has until March 1, 2025, to switch exclusively to electronic tax documents. More time to prepare!

The Bahamas has approved its Qualified Domestic Minimum Top-Up Tax, effective 2025. It ensures in-scope MNE groups meet the global minimum tax level of 15%.

Germany's new thresholds mean more small businesses can benefit from VAT exemption. Starting 2025, turnovers below EUR 25,000 (previous year) and EUR 100,000 (current year) qualify.

Changes include higher personal tax credits, increased R&D incentives, and reduced VAT on heat pumps. Key updates for Budget 2025 compliance are here!

From January 2025, all VAT transactions must be completed via the new eMWST portal. Paper forms will no longer be accepted.

Land developers must review IRS guidance on accounting methods. Clarifications are provided for the completed contract and percentage of completion methods.

Digital services, including those by foreign providers, will be subject to a 12% VAT under new regulations. Draft rules include simplified registration for non-resident DSPs.

Despite concerns, Indonesia confirms a rise in its VAT rate to 12%, effective January 2025.

Spain's lower house greenlights the 15% global minimum tax for large MNEs. Draft bill aligns with EU guidelines for Pillar 2 implementation.

Canadians enjoy a GST/HST break on essentials like groceries and gifts from Dec 14 to Feb 15. Savings just in time for the holidays!

Sri Lanka's IRD urges taxpayers to file 2023/2024 annual returns electronically by November 30, 2024.

Vietnam's VAT rate may drop to 8% for certain goods and services in early 2025, following the ongoing reduction through 2024.

Parliament has approved bills to implement global minimum tax rules, including a 15% Domestic Minimum Tax. Awaiting royal assent for the final green light!