Digital Transformation of Tax Administration EU Council: Agrees on VAT in Digital Age package: mandatory e-invoicing for cross-border B2B by 2030, platform economy VAT liability changes, expanded One-Stop-Shop by 2035. Latvia: Mandates e-invoicing for B2B transactions from January 2026, with…
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The Architecture of Global Tax Reform South Africa: Implements Pillar 2 through Global Minimum Tax Bill, introducing 15% minimum tax via IIR and DMTT, effective January 2024. Notably excludes UTPR implementation. EU Commission: Adopts DAC9 allowing MNEs to file one…
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Indirect Tax Keeps (Increasing) Evolving Switzerland: Federal Council approves VAT increase for pension funding: standard rate from 8.1% to 8.8%, accommodation rate from 3.8% to 4.2%, reduced rate from 2.6% to 2.8%. Referendum planned for September 2025. Slovak Republic: Increases…
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Corporate Tax Reforms and Incentives Portugal: Draft Budget 2025 proposes reducing standard corporate tax rate from 21% to 20%, and SME rate on first €50,000 from 17% to 16%. Introduces 200% deduction for salary increases (up from 150%) if average…
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Global Minimum Tax Implementation Advances Brazil: Introduces Additional Social Contribution on Net Profit as Pillar 2 top-up tax. Rate: 15% minus effective tax rate of Brazilian entities in MNE groups with €750M+ annual revenue. Effective: January 1, 2025. Norway: National…
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Global Tax Transparency and Minimum Tax Implementation Poland: Commits to CARF implementation by 2027, standardizing reporting of crypto-asset transactions for automatic exchange. Poland: Draft law proposes 15% minimum tax for MNE groups with €750M+ annual revenue, including IIR and UTPR,…
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The Digital Renaissance of Tax Administration Greece: Replaces stamp duty with new digital transaction fee of up to 3.6% from 1 December 2024. Ghana: Launches second phase of VAT e-invoicing implementation. Nigeria: Plans to introduce FIRS e-Invoice platform to improve…
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Global Minimum Tax and International Tax Cooperation Canada: Proposes Undertaxed Payments Rule (UTPR) and further amendments to Global Minimum Tax Act. Taiwan: Announces proposal to increase Alternative Minimum Tax (AMT) rate for certain MNEs from 12% to 15%. Philippines: Introduces 20% corporate tax…
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Global Implementation of Pillar 2 and Minimum Tax Measures Switzerland: Federal Council decides to bring the Pillar 2 income inclusion rule (IIR) into force from 1 January 2025, complementing the Swiss supplementary tax (QDMTT) introduced in 2024. Iceland: Launches public…
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