Digital Transformation of VAT Systems EU: Adopts VAT in Digital Age (ViDA) package mandating digital B2B reporting by 2030, platform VAT liability for short-term accommodations, and expanded one-stop-shops. Greece: Receives authorization to implement mandatory B2B e-invoicing via myDATA platform from…
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Strategic Semiconductor Policy South Korea: Boosts semiconductor tax credits: 20% for large companies, 30% for SMEs. Extends national strategic technology credits to 2029, semiconductor investments to 2031. Expands scope to include AI and future transportation. Small Business Tax Simplification Egypt:…
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Global Minimum Tax Implementation Acceleration Japan: Introduces QDMTT and UTPR from April 2026, complementing existing IIR, alongside 4% defense surtax increasing effective rate by ~0.9%. Iceland: Plans March 2025 introduction of 15% minimum tax legislation for €750M+ MNE groups. Denmark:…
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Digital Economy and Innovation Acceleration Uzbekistan: Introduces comprehensive IT sector reforms: 0% rate for renewable energy installations up to 100kW, 5% dividend tax for tech park residents with 50%+ exports, full tax exemption from 2028-2040. Belarus: Implements 9% tax rate…
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Investment-Driven Tax Innovation Australia: Introduces BTR incentives: 4% capital works deduction rate (up from 2.5%) and reduced 15% MIT withholding tax, subject to 15-year compliance. Thailand: Offers 10% corporate tax rate in 10 border SEZs for targeted businesses over 10…
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Global Minimum Tax Landscape Formation Qatar/Oman: Both implement 15% QDMTT from January 2025 for MNE groups exceeding €750M revenue threshold. North Macedonia: Approves QDMTT with 18-month initial reporting window, 15-month thereafter. Luxembourg: Issues detailed regulations on functional currencies and tax…
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Pillar 2 and Transfer Pricing Evolution Gibraltar: Draft bill introduces QDMTT from December 2023, IIR from December 2024, excluding UTPR implementation. OECD: Releases Amount B implementation tools including automated pricing tool and fact sheets for baseline marketing/distribution activities, applicable from…
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Global Minimum Tax: From Framework to Implementation France: Issues implementing decree detailing GloBE computations, filing requirements, and information exchange procedures. IIR/QDMTT effective December 2023, UTPR December 2024. Austria: Amends CFC rules to avoid double taxation with Pillar 2, including QDMTT…
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Global Minimum Tax Implementation Wave Australia: Senate approves Pillar 2 legislation with DMT/IIR from January 2024, UTPR from 2025. Excludes Securitisation Entities from joint liability. Spain: Lower house approves Pillar 2 with IIR/QDMTT from December 2023, UTPR from December 2024.…
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