On 21 March 2024, the Australian Treasury opened a consultation on the primary legislation to implement the OECD's Pillar Two global Minimum Tax Rate until 16 April 2024. The legislation is aligned with the OECD's Pillar Two framework. The legislati…
On 12 March 2024, the United States and Turkey issued an updated joint statement on a transitional approach to existing unilateral measures before the implementation of Pillar 1. This follows the political compromise reached by the United States, Au…
On 15 February 2024, the United States, Austria, France, Italy, Spain, and the United Kingdom adopted an extension to the agreement reached on 21 October 2021 "Regarding a Compromise on a Transitional Approach to Existing Unilateral Measures During …
The Council Directive (EU) 2021/514 had to be transposed by member states until 31 December 2022. The first reporting of data is required by 31 January 2024.The directive includes various changes concerning reporting obligations to member states' ta…
On 30 January 2024, Bill Amending and Adding New Sections of the National Internal Revenue Code including 12% VAT on digital services (SB No. 2528), was introduced in the Philippines Senate. The Bill would mandate nonresident digital services provid…
On 16 January 2024, the United States Treasury Department and Internal Revenue Service (IRS) announced that businesses are not required to report transactions involving digital assets in the same manner as cash transactions until further regulations…
On 1 January 2024, Bill 4173/2023, amending taxation law, including provisions introducing taxation for crypto assets held abroad, came into effect. In particular, the income from derived crypto assets over BRL 6'000 will be taxed at a rate of 15%, …
The obligation to report crypte transactions to the IRS takes effect on 1 January 2024 for transactions after 1 January 2023. Among many measures in various sectors, section 80603 of the act includes reporting obligations to the Internal Revenue Se…
On 1 January 2024, the Colombian tax reform introducing the application of a Digital Services Tax came into effect. In particular, new Article 20.3 provides that foreign digital services without establishment in the Colombian territory but with a si…
On 31 December 2023, the UK implementation of the top-up tax envisioned by Pillar 2 of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) included in the Finance (No. 2) Bill began to apply to covered enterprise groups. As a…