Digital Economy
KPMG TaxNewsFlash reports on the latest developments in the tax treatment of the digital economy, including digital services taxes and the taxation of online remote sales
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Spain: Regulations under Pillar Two global minimum tax law
Implementing regulations under Law 7/2024 approved by the Cabinet
April 2, 2025
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Bulgaria: Amendments to Pillar Two law enacted
Several amendments to the Bulgarian Pillar Two legislation introduced under budget law.
April 1, 2025
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EU: Commissioner outlines EC tax priorities at 2025 EU Tax Symposium
Priorities include commitment to Pillar Two
April 1, 2025
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Finland: Guidance on Pillar Two global minimum tax
Key elements of the Minimum Tax Act and additional clarifications on general application of Pillar Two rules
April 1, 2025
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KPMG report: Overview of topics and workstreams discussed at recent meeting of UN Tax Committee
A KPMG report of the main items discussed at the UN Tax Committee and their potential implications for taxpayers.
April 1, 2025
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Qatar: Introduction of Pillar Two global minimum tax rules
Introduces an income inclusion rule (IIR) and a domestic minimum top-up tax (DMTT) for fiscal years starting from January 1, 2025
April 1, 2025
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UK: 2025 Finance Act enacted, includes changes to UK Pillar Two rules
UTPR introduced for periods beginning on or after December 31, 2024
April 1, 2025
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Latest tax developments from the United States and from KPMG member firms around the globe
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Japan: 2025 tax reform bills, including Pillar Two rules, passed by Parliament
Measures include introduction of undertaxed profits rule (UTPR) and qualified domestic minimum top-up tax (QDMTT)
March 31, 2025
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Iceland: New reporting obligations for digital platform operators effective January 1, 2025
Reporting platforms are required to register with the Icelandic tax authorities, except if they are already registered in one of the states of the European Economic Area.
March 25, 2025
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KPMG article: Effect of digital transformation on transfer pricing
Examples of how digital transformation is creating transfer pricing issues for multinational enterprises
March 18, 2025
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Italy: Ministerial Decree on GloBE information return (GIR) notifications
The actual notification form and further details on the submission will be clarified by the revenue agency.
March 18, 2025
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Bahrain: Updated domestic minimum top-up tax (DMTT) registration manual
Version 1.0 released on March 9, 2025
March 17, 2025
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Switzerland: Implementation of cryptoasset reporting framework MCAA
Intends to maintain tax transparency standards amidst the expanding cryptoasset market
March 17, 2025
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Turkey: Announcement that Amount B under Pillar One will not be applied
Official announcement on March 7, 2025
March 17, 2025
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EU: Council reaches political agreement on DAC9
Member states need to implement the directive into national legislation by December 31, 2025.
March 11, 2025
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Indonesia: Implementation of global minimum tax
Enforcement of global anti-base erosion (GloBE) rules from January 1, 2025
March 5, 2025
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UAE: FAQs on Pillar Two domestic minimum top-up tax
Ministry of Finance published a list of “frequently asked questions”
March 4, 2025
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Greece: Streamlined process for reporting withheld taxes and digital transactions fees; incentives for audiovisual projects
Streamlined process effective for payments made on or after December 1, 2025
March 3, 2025
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Mozambique: Tax proposals announced by president in inauguration speech
Including plans for taxing digital transactions
March 3, 2025
Taxation of the digitalized economy
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OECD: Report to G20 Finance Ministers and Central Bank Governors, recent developments in international tax cooperation
Recent developments include implementation of BEPS minimum standards and Two-Pillar solution
February 27, 2025
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Slovakia: Proposed amendments to implement exchange of Pillar Two information between EU member states (DAC9)
Minister of Finance announced amendments on January 20, 2025
February 27, 2025
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Denmark: Proposed amendments to Pillar Two law
Comments are due by March 3, 2025.
February 26, 2025
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EU: Public meeting of European Parliament Subcommittee on Tax Matters with European Commissioner responsible for tax
EU will not withdraw from Pillar Two agreement and remains committed to reaching Pillar One agreement
February 26, 2025
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White House announces directive to counter digital service taxes (DSTs)
President Trump signed a memorandum to respond to the enactment by foreign governments of DSTs.
February 24, 2025
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OECD: Consolidated report on Amount B
Incorporates materials on Amount B released from February 2024 until December 2024
February 24, 2025
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Niger: VAT obligations for digital platforms from January 1, 2025
Obligations of both local and foreign platforms
February 21, 2025
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Israel: Draft regulations on withholding tax for digital asset transactions
Regulations proposed to become effective July 1, 2025
February 20, 2025
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Poland: List of jurisdictions with qualified status for Pillar Two purposes
List applies for purposes of local implementation of Pillar Two rules
February 20, 2025
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Kenya: Legislation replacing digital services tax with significant economic presence tax, implementing Pillar Two rules
Legislation also includes withholding tax and VAT changes
February 13, 2025
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Czech Republic: Individual income tax exemption for income from transfer of cryptoassets passed by upper house of Parliament
Legislation now awaits president’s signature
February 13, 2025
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Sweden: Government report to Parliament on EU proposal for exchange of Pillar Two information between EU member states (DAC9)
Report regarding changes potentially required for implementation in Sweden
February 13, 2025
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UAE: Legislation implementing Pillar Two global minimum tax rules
Effective for financial years beginning on or after January 1, 2025
February 12, 2025
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France: Tax measures in Finance Act 2025
Includes direct and indirect tax measures affecting companies
February 11, 2025
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Colombia: Reporting obligations for digital platform operators implemented
Resolution 199 of 2024
February 11, 2025
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Italy: List of jurisdictions with transitional qualified status for Pillar Two purposes
List applies for purposes of local implementation of Pillar Two rules
February 7, 2025
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UK: Amendments to Pillar Two rules in amended Finance Bill 2024-2025
Including incorporation of provisions from OECD June 2024 Administrative Guidance
February 7, 2025
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UK: Consultation on supplementary draft guidance on Pillar Two global minimum tax rules
Last consultation before guidance manual will be published in late spring 2025
February 6, 2025
E-invoicing developments timeline
Tax administration developments in e-invoicing, digital reporting, and real-time reporting
Updated January 2025
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Germany: Updated list of non-cooperative tax jurisdictions, consultation on draft amendments to Pillar Two rules, changes to transfer pricing rules, other tax developments
Recent tax developments in Germany
January 30, 2025
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Kenya: Excise duty on services provided by nonresidents through digital platforms
Revision significantly expands the tax base
January 29, 2025
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Japan: Updated guidance on income inclusion rule
Income inclusion rule was amended in 2024 tax reform
January 29, 2025
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Bahrain: Updated domestic minimum top-up tax registration manual
Updated version of domestic minimum top-up tax registration manual released
January 27, 2025
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France: Form for Pillar Two reporting requirements, country-by-country notification
Pillar Two reporting requirements added to CbC notification form
January 27, 2025
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Philippines: Application of VAT on digital services
Digital services will be taxed at a 12% rate when used or consumed in the Philippines.
January 23, 2025
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Slovakia: Draft legislation implementing directive on tax transparency rules for cryptoasset service providers (DAC8)
Rules would become effective January 1, 2026
January 23, 2025
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Australia: Legislation providing details on computation of top-up tax under Pillar Two rules
Rules are effective from January 1, 2024.
January 22, 2025
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South Africa: Legislation implementing Pillar Two global minimum tax rules enacted
Rules are effective for tax years beginning from January 1, 2024
January 22, 2025
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White House announcement on OECD “Global Tax Deal”
A memorandum from President Trump’s White House regarding the OECD “Global Tax Deal”
January 21, 2025
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Cyprus: Implementation of Pillar Two global minimum tax rules and public country-by-country reporting
Implementing laws largely align with EU directives
January 21, 2025
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Bahrain: Guide on entities within scope of domestic minimum top-up tax
Further clarification on various aspects including entities that fall within scope of domestic minimum top-up tax
January 21, 2025
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EU: Tax priorities of Polish Presidency of the Council
Include updating list of non-cooperative jurisdictions for tax purposes and work on DAC9
January 21, 2025
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Thailand: Law implementing Pillar Two global minimum tax rules published
Rules became effective January 1, 2025
January 21, 2025
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KPMG report: Inclusive Framework guidance on application of GloBE rules
Including guidance relating to GloBE information return
January 17, 2025
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KPMG report: Inclusive Framework Administrative Guidance on limitation of the use of deferred tax assets under transitional rules (Article 9.1)
Focuses on the guidance on deferred tax assets under Article 9.1
January 17, 2025
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OECD: Inclusive Framework on BEPS releases updates to global minimum tax administration
Additional administrative guidance under the Pillar Two rules
January 15, 2025
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Spain: Law implementing Pillar Two global minimum tax approved
Law also includes amendments relating to corporate income tax, individual (personal) income tax, VAT, tax on financial entities, and excise duties.
January 15, 2025
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Statement by co-chairs of Inclusive Framework on BEPS indicates still no consensus on Pillar One
The statement indicates that the co-chairs intend to continue working to achieve a consensus on the Amount B Framework and so the overall Pillar One package.
January 13, 2025
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Italy: Budget law expands scope of digital service tax
Changes to DST threshold
January 10, 2025
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Final and proposed regulations: Classification of digital content and cloud transactions for purposes of international provisions of the Code
Comments requested under Notice 2025-6 on extending rules to all provisions of the Code
January 10, 2025
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Ireland: Application of Pillar Two global minimum tax rules to fund vehicles and securitization entities
Reports discussing key considerations for fund vehicles and Irish securitization entities
January 9, 2025
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North Macedonia: Parliament adopts law implementing Pillar Two global minimum tax rules
Law aligns with EU minimum tax directive
January 9, 2025
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Oman: Legislation implementing Pillar Two global minimum tax rules
New legislation introduces domestic minimum top-up tax (DMTT) for multinational groups
January 8, 2025
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Kuwait: Legislation implementing Pillar Two global minimum tax rules
New legislation introduces domestic minimum top-up tax (DMTT) for multinational groups
January 8, 2025
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Notice 2025-7: Temporary relief for making adequate identification of units of digital assets held in broker’s custody
Allows reliance on alternative methods for making an adequate identification during the period beginning on January 1, 2025, and ending on December 31, 2025
December 31, 2024
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Information reporting by non-custodial brokers of digital asset transactions
Final regulations requiring information reporting by non-custodial digital asset brokers and transitional relief under Notice 2025-3
December 27, 2024
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Hong Kong: Draft legislation implementing Pillar Two global minimum tax rules
Draft legislation will be presented to the Legislative Council on January 8, 2025.
December 27, 2024
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Ireland: Tax measures in Finance Bill 2024 include Pillar One Amount B rules, amendments to Pillar Two rules
Tax measures effective from November 12, 2024
December 27, 2024
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Japan: Outline of 2025 tax reform proposals, including new Pillar Two rules
Proposals include introduction of undertaxed profits rule (UTPR) and qualified domestic minimum top-up tax (QDMTT)
December 27, 2024
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Peru: Regulation implementing VAT compliance obligations for nonresident digital services providers
Regulation is effective January 1, 2025.
December 27, 2024
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Luxembourg: Overview of tax measures for 2025, including amended Pillar Two law
Comprehensive overview of the key tax measures for 2025
December 20, 2024
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KPMG report: Proposed adoption of Amount B in the United States
Notice 2025-4 would allow the U.S. application of Amount B—an OECD-initiative to simplify transfer pricing for baseline marketing and distribution activities.
December 19, 2024
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OECD: Fact sheets and pricing tool for implementation of Amount B simplified approach
Fact sheets provide overview of Amount B mechanics, Pricing Automation Tool computes Amount B return for in-scope tested parties
December 19, 2024
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Hungary: Changes to autumn tax package, including Pillar Two rules, agreed by Parliament
Approved version narrows the scope of data that companies subject to global minimum tax are required to report by the end of the year.
December 19, 2024
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Canada: Large businesses must register for digital services tax by January 31, 2025
Affected businesses that earn specific kinds of online revenues meeting certain thresholds must register by January 31, 2025
December 19, 2024
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Sri Lanka: Tax reform proposals presented to Parliament include VAT on nonresident digital service providers
Proposals presented to Parliament by the president on December 18, 2024
December 19, 2024
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Notice 2025-4: Application of Pillar One Amount B simplified and streamlined approach
Treasury and IRS announce intention to issue proposed regulations applicable to tax years beginning on or after January 1, 2025.
December 18, 2024
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Netherlands: Upper house passes entire 2025 Tax Plan package, including amendments to Pillar Two rules
In total, 11 tax bills and an amending act were passed.
December 18, 2024
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Bahrain: Pillar Two global minimum tax implementing regulations
The regulations prescribe detailed rules, conditions, and procedures for implementation and enforcement of the Pillar Two global minimum tax.
December 16, 2024
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Gibraltar: Draft legislation implementing Pillar Two global minimum tax rules
Top-up tax would apply for financial years starting on or after December 31, 2023
December 16, 2024
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France: Guidance on Pillar Two global minimum tax filing and notification obligations
Decree specifying Pillar Two filing and notification obligations published on December 5, 2024.
December 12, 2024
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EU: ECOFIN report on various tax initiatives
Report includes updates on Unshell Directive, Transfer Pricing Directive, BEFIT Directive, and DAC9 proposals
December 12, 2024
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Malaysia: Guidance on Pillar Two global minimum tax
The guidance covers scope, filing obligations, transitional penalty relief, and safe harbors.
December 12, 2024
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Australia: Pillar Two minimum tax, public CbC reporting, and foreign residents’ capital gains withholding bills receive Royal Assent
Legislation received Royal Assent on December 10, 2024.
December 11, 2024
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Italy: New VAT place of supply rules for virtual events
The new rules are effective as of January 1, 2025.
December 10, 2024
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Belgium: Proposed changes to various automatic exchange of information rules (DAC6 and DAC7)
Changes are expected to be adopted before end of the year
December 6, 2024
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Netherlands: Guidance on how Pillar One Amount B will affect domestic taxpayers
Guidance becomes effective January 1, 2025
December 5, 2024
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KPMG report: Update on future of BEPS guidance from OECD
Noel Maher, Tax Policy Adviser from the OECD, discussed ongoing work at the OECD at KPMG-sponsored conference
December 4, 2024
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Spain: Legislation implementing Pillar Two global minimum tax passed by lower house of Parliament
The legislation also includes amendments relating to corporate income tax, individual (personal) income tax, VAT, tax on financial entities, and excise duties.
December 4, 2024
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Netherlands: Draft bill implementing directive on tax transparency rules for cryptoasset service providers (DAC8)
A new draft bill implementing EU Directive 2023/2226 (DAC8), aimed at increasing transparency regarding cryptoasset ownership.
December 4, 2024
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Australia: Parliament passes Pillar Two minimum tax bills
The legislation now awaits Royal Assent.
December 2, 2024
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Australia: Parliamentary committee recommends implementing digital services tax
Report of Australian Parliament Joint Select Committee on Social Media and Australian Society
December 2, 2024
Tax Services
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Australia: Legislation implementing Pillar Two global minimum tax rules passes Senate
Two bills will return to the House of Representatives, while the other awaits Royal Assent
November 27, 2024
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Hungary: Draft declaration form for taxpayers subject to global minimum tax
Form includes some changes from autumn tax package proposal
November 27, 2024
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Australia: Consultation on cryptoasset reporting framework (CARF) and CRS amendments
The consultation closes January 24, 2025.
November 22, 2024
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Brazil: Consultation on draft guidance implementing cryptoasset reporting
The consultation will run from November 7, 2024, to December 6, 2024.
November 22, 2024
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Hungary: Amended autumn tax package submitted to Parliament
Tax changes expected to come into effect in Hungary
November 22, 2024
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Poland: Legislation implementing global minimum tax effective January 1, 2025
The new regulations target groups with annual revenues of €750 million or more.
November 21, 2024
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UK: Amendments to Pillar Two rules in Finance Bill 2024-2025
Seeks to incorporate the undertaxed profits rule (UTPR) into UK domestic law
November 21, 2024
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Colombia: Tax authority issues guidance on application significant economic presence rule
Tax authority’s ruling addresses several taxpayer questions regarding the SEP provisions
November 20, 2024
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Germany: Draft law introduced to implement DAC8 regulations and amend CRS
Aims to integrate DAC8 requirements into German national law by December 31, 2025
November 20, 2024
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Singapore: Bills to implement global minimum tax; list of jurisdictions for exchange of CbC reports; applying for certificates of residence
Parliament passed bills to implement the multinational enterprise top-up tax and the domestic top-up tax
November 20, 2024
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South Africa: Updated legislation implementing Pillar Two global minimum tax rules submitted to Parliament
The government submitted legislation to implement the OECD’s Pillar Two GloBE model rules.
November 20, 2024
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Lithuania: Proposed tax changes concerning double taxation, DAC8, submission of tax information, and solidarity contribution
The Lithuanian government and various agencies have proposed several tax-related changes aimed at improving compliance, preventing tax evasion, and aligning with international standards.
November 19, 2024
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Hungary: Proposed extension of retail sales tax to online marketplaces
Proposal would include nonresident or resident platform operators that provide an online marketplace for sellers engaged in retail activities
November 15, 2024
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Poland: Legislation implementing Pillar Two global minimum tax rules passed by upper house of Parliament
The legislation is expected to become effective January 1, 2025.
November 13, 2024
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Bahamas: Proposed Pillar Two legislation
Minimum effective tax rate of 15% for MNE groups with global revenues exceeding €750 million
November 12, 2024
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Luxembourg: Revised draft law amending Pillar Two law
Revised draft law introduces additional amendments to initial amending draft law published in June 2024
November 8, 2024
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Hungary: Reporting obligation of taxpayers subject to global minimum tax
Taxpayers subject to global minimum tax must fulfill reporting obligation by December 31, 2024.
November 7, 2024
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Portugal: Bill implementing Pillar Two passed by Parliament
Parliament passed a bill transposing the EU minimum tax directive into domestic legislation
November 4, 2024
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Norway: Budget would introduce undertaxed profits rule (UTPR) from 2025
A proposal to introduce an undertaxed profits rule from 2025
November 4, 2024
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Italy: Guidance on substance based income exclusion (SBIE) provisions under Pillar Two rules
The decree incorporates clarifications provided in the OECD commentary and December 2023 administrative guidance.
November 4, 2024
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Hong Kong: Outcomes from Pillar Two consultation
Key points contained in the government’s responses
November 4, 2024
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Netherlands: Letter submitted to Parliament on Pillar Two effect on Dutch tax incentives
Effect expected to be limited
November 4, 2024
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Poland: Proposed reforms to tax incentives system in light of Pillar Two
Government is considering introduction of cash grant regime in lieu of existing investment zone and R&D tax credit regimes
November 4, 2024
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Germany: Annual Tax Act 2024 passed by lower house of Parliament includes Pillar Two changes, other tax developments
Recent tax developments in Germany
October 31, 2024
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UK: Pillar Two tax measures in Autumn Budget 2024
Undertaxed profits rule (UTPR) will be included in the Finance Bill 2024-2025
October 31, 2024
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EU: Proposal for exchange of Pillar Two global minimum tax information between EU member states (DAC9)
DAC9 proposal would transpose the global anti-base erosion (GloBE) information return (GIR) into EU law.
October 30, 2024
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Germany: Registering Pillar Two minimum tax group leader
Ministry of Finance has published a notification form for registering the minimum tax group leader.
October 30, 2024
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Hungary: Autumn tax package includes proposed Pillar Two amendments
Tax changes expected to come into effect in Hungary
October 29, 2024
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Malta: 2025 budget includes update on Pillar Two implementation
Highlights of Budget 2025
October 29, 2024
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New Zealand: Summary of implementation of Pillar Two GloBE rules
Rules effective for fiscal years starting on or after January 1, 2025
October 29, 2024
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Isle of Man: Update on implementation of Pillar Two global minimum tax
The new rules would take effect for accounting periods beginning on or after January 1, 2025.
October 28, 2024
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Mexico: New VAT withholding requirement for platforms facilitating the sales of goods for nonresidents
Requires digital platforms that act as intermediaries between third parties to withhold 100% of the VAT corresponding to the sales of goods
October 25, 2024
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Austria: Appointment of alternative Pillar Two taxpayer due by December 31, 2024
Proof of appointment must also be uploaded in FinanzOnline
October 24, 2024
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Italy: Proposal to remove digital service tax revenue thresholds
The proposal would be effective from January 1, 2025.
October 24, 2024
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OECD: Developments in international tax reform—digitalization of the economy and BEPS minimum standards
Recent developments in international tax reform since July 2024
October 24, 2024
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Mexico: Tax authority clarifies definition of digital intermediation services
Amendment to the definition of intermediation of digital services for purposes of the Mexican VAT law
October 24, 2024
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Belgium: Public consultation on draft tax return under Pillar Two rules
Comments are due November 8, 2024.
October 21, 2024
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Chile: Withholding on payments to U.S. residents; reporting by digital platforms; other direct and indirect tax developments
Oficio No. 1763/2024 provides guidance on withholding under Chile-U.S. income tax treaty
October 18, 2024
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UK: HMRC outreach to businesses in technology, media, and telecommunications sector regarding VAT compliance
Sellers of telecommunications, broadcasting, and electronically supplied services to consumers in the UK are liable to register for, collect, and remit VAT.
October 18, 2024
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Bulgaria: Public consultation on proposed amendments to Pillar Two rules
The consultation runs until October 18, 2024.
October 16, 2024
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Netherlands: 2025 Tax Plan includes proposed amendments to Pillar Two rules
Most of the proposed amendments would have retroactive effect as of December 31, 2023.
October 16, 2024
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Slovakia: Draft legislation amending Pillar Two rules submitted to Parliament
The proposed amendments would become effective as of December 31, 2024.
October 16, 2024
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Lithuania: Public consultation on draft legislation fully implementing Pillar Two rules
The proposed Pillar Two rules would closely follow the text of the EU minimum tax directive.
October 16, 2024
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France: Finance Bill 2025 includes proposed retroactive tax increases for large corporations and individuals, updates to Pillar Two rules
The Finance Bill for 2025 was published on October 10, 2024.
October 15, 2024
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Ireland: Tax measures in Finance Bill 2024, including Pillar One Amount B rules, amendments to Pillar Two rules
Includes tax measures announced in 2025 budget
October 11, 2024
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Chile: New reporting and VAT obligations for digital platforms, remote sellers
While the bill still needs to go through some minor legislative steps before officially becoming Law, no material changes are expected.
October 11, 2024
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UK: Initial analysis of OECD’s model competent authority agreement on application of Amount B under Pillar One
MCAA can be used to apply Amount B when there is a tax treaty in place between two jurisdictions
October 10, 2024
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Mexico: Rules for collecting tax on hosting services on digital platforms (Veracruz)
The rules apply to individuals and legal entities that intervene in the collection of the consideration for hosting services by digital means.
October 9, 2024
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Brazil: Implementation of Pillar Two rules establishes qualified domestic minimum top-up tax
Officially aligns Brazil with countries that have adopted the OECD's global anti-base erosion (GloBE) rules
October 7, 2024
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New Zealand: Updated compliance focus guide for multinationals reflects BEPS, Pillar Two changes
Guidance for multinationals in self-assessing their international tax and transfer pricing risk profiles
October 7, 2024
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Philippines: New law imposes VAT on cross-border provision of digital services
The law imposes a 12% VAT on digital services consumed in the Philippines.
October 3, 2024
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OECD: User guides for XML schemas for cryptoasset reporting framework (CARF) and CRS amendments
The schemas facilitate exchanges of information between tax administrations.
October 3, 2024
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Spain: Consultation on draft bill implementing directive on tax transparency rules for cryptoasset service providers (DAC8)
The rules are proposed to be effective January 1, 2026.
October 3, 2024
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Ethiopia: New VAT rules for nonresident digital services providers
Proclamation No. 1341/2024 was approved by the House of Peoples’ Representatives of Ethiopia.
October 2, 2024
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Poland: Draft legislation implementing Pillar Two global minimum tax rules submitted to lower house of Parliament
The legislation is expected to become effective January 1, 2025.
October 2, 2024
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UK: Consultation on additional draft guidance on Pillar Two global minimum tax rules
Comments are due by October 23, 2024.
September 26, 2024
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KPMG report: U.S. transfer pricing and international tax year-end considerations
A report that includes key year-end transfer pricing and international tax issues.
September 25, 2024
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OECD: Jurisdictions sign multilateral convention implementing Pillar Two subject to tax rule
Nine jurisdictions signed the multilateral convention to implement the STTR in bilateral income tax treaties.
September 19, 2024
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KPMG report: Draft instructions for Form 1099-DA, Digital Asset Proceeds from Broker Transactions
Overview of draft instructions as they relate to the final U.S. broker digital asset reporting regulations
September 19, 2024
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KPMG report: Treatment of nonfungible tokens under the final broker reporting regulations
Overview of NFTs in final regulations
September 19, 2024
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U.S. House Republican leadership, Ways and Means members express opposition to Pillar Two deal in letter to OECD
Sent a letter to the OECD Secretary-General expressing their opposition
September 18, 2024
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Saudi Arabia: Proposed amendments to VAT regulations, including expansion of VAT obligations of marketplaces
The Zakat, Tax and Customs Authority launched a public consultation on proposed amendments to the value added tax regulations.
September 13, 2024
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Switzerland: Announcement regarding implementation of income inclusion rule
Effective January 1, 2025, to complement the domestic minimum top-up tax
September 13, 2024
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Sweden: Proposed amendments to Pillar Two global minimum tax rules
Proposed amendments would introduce elements of the OECD Administrative Guidance
September 13, 2024
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Peru: VAT on cross-border provision of digital services (updated)
Implementation of the rules delayed to December 1, 2024
September 13, 2024
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Finland: Consultation on proposed amendments to Pillar Two global minimum tax rules
Proposed amendments would apply retroactively to financial years beginning on or after January 1, 2024.
September 13, 2024
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Kazakhstan: VAT on foreign suppliers of digital products
Article 779 of the Kazakhstan Tax Code imposes 12% VAT on foreign suppliers of goods and services provided electronically to individuals in Kazakhstan.
September 11, 2024
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Bahrain: Legislation implementing Pillar Two global minimum tax rules
Key features of the new law and an overview of how the domestic minimum top-up tax is calculated
September 5, 2024
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Peru: Guidance on registration of nonresident withholding agents of VAT on cross-border provision of digital services
Rules for registration in the single taxpayer registry of nonresidents designated as withholding or collection agents of VAT on the cross-border provision of digital services
September 4, 2024
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Belgium: Prepayment system for Pillar Two taxes now operational
Prepayment system for domestic minimum top-up tax and income inclusion rule top-up tax is operational as of September 2, 2024.
September 3, 2024
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New Zealand: August tax bill includes implementation of cryptoasset reporting framework (CARF)
Taxation (Annual Rates for 2024-25, Emergency Response and Remedial Matters) Bill
August 30, 2024
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Czech Republic: Proposed amendment to legislation introducing top-up tax, implementing EU directive on global minimum tax
A draft amendment to the law introducing a top-up tax to implement the EU directive on global minimum tax in the Czech Republic
August 27, 2024
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Germany: Proposed investment tax incentives, Pillar Two changes, intra-group financing transfer pricing guidance, MLI law enacted
Recent tax developments in Germany
August 27, 2024
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Peru: VAT on cross-border provision of digital services
Implementation of the rules delayed to December 1, 2024
August 26, 2024
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Australia: Proposed amendments to legislation implementing Pillar Two global minimum tax rules
The federal government proposed amendments to legislation implementing Pillar Two global minimum tax rules currently before parliament.
August 23, 2024
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Switzerland: Consultation on determination of partner states for AEOI concerning cryptoassets
The Federal Tax Administration announced a consultation to determine partner states for the automatic exchange of information on cryptoassets.
August 23, 2024
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Australia: Legislation implementing Pillar Two global minimum tax rules passes House of Representatives
The bills now move to the Senate for consideration.
August 22, 2024
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Serbia: Amendments to e-invoicing rulebook
Amended rulebook generally applies as of September 1, 2024
August 21, 2024
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KPMG report: Information reporting for U.S. digital asset brokers
Requirements for a digital asset broker to file information returns and furnish payee statements that report gross proceeds on sales of digital assets
August 21, 2024
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Channel Islands: Pillar Two draft legislation published (Jersey)
Scheduled for debate in Jersey’s Parliament on October 1, 2024
August 19, 2024
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KPMG report: Documentation rules under final digital asset reporting regulations
Overview of tax documentation required to be collected by U.S. digital asset brokers under final U.S. broker digital asset reporting regulations
August 12, 2024
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IRS releases draft updated Form 1099-DA for digital assets proceeds from broker transactions, requests comments
New draft of Form 1099-DA reflects final regulations for custodial broker reporting and includes transitional relief
August 9, 2024
News
Ghana: Measures related to tax administration, digital solutions, indirect tax in 2024 mid-year budget review
Focuses on tax administration measures to support effective implementation of tax measures already enacted
August 7, 2024
News
Korea: Further proposed amendments to Pillar Two rules
The Ministry of Economy and Finance announced further proposed amendments to the Korean Pillar Two global anti-base erosion minimum tax rules.
August 6, 2024
News
EU: Public consultation on template and formats for public country-by-country (CbC) reports
Feedback must be submitted by August 29, 2024
August 2, 2024
News
Switzerland: Draft guidelines on platform rules for goods effective 2025
Draft guidelines currently open for consultation until August 23, 2024
July 30, 2024
News
KPMG report: State and local tax, technology-related developments (table, second quarter 2024)
Covers topics such as web-based services, data center exemptions, streaming services, and telecommunications services
July 29, 2024
News
Tax report to G20 Finance Ministers and Central Bank Governors; other reports on international tax reform developments
The report describes key developments in international tax reform since February 2024.
July 25, 2024
News
KPMG report: Planning implementation of broker digital asset reporting regulations
Key timeline considerations for brokers subject to a reporting requirement under final regulations
July 24, 2024
News
Chile: Optional regime for substitute tax for final taxes
Law No. 21,681 creates an emergency fund and provides other relief for communities in the Valparaíso Region affected by a major fire in February 2024
July 23, 2024
News
KPMG report: Employee data reporting under Pillar Two
A KPMG report that discusses how correctly reporting employee numbers, locations, and costs will benefit multinational enterprises under Pillar Two.
July 22, 2024
News
Canada: Digital platforms must report seller information by January 31, 2025
New tax reporting requirements, effective from the 2024 calendar year
July 22, 2024
News
Mexico: New requirements for registering foreign digital service providers
Two new requirements for registering foreign digital services providers in Mexico
July 16, 2024
News
Azerbaijan: Registration portal for VAT on cross-border provision of digital services
Registration is currently optional for taxpayers.
July 16, 2024
News
KPMG report: Final regulations on information reporting on digital asset transactions
The U.S. Treasury Department and IRS issued final regulations on digital asset tax information reporting requirements.
July 12, 2024
News
OECD: Consultation on GloBE information return filing standard
The OECD released a draft user guide for the GloBE information return filing standard for consultation.
July 12, 2024
News
Australia: Draft legislation implementing Pillar Two global minimum tax rules introduced in Parliament
Draft legislation was referred to the Senate Economics Legislation Committee
July 9, 2024
News
Canada: Digital services tax now in effect
Affected businesses will have to register with the CRA by January 31, 2025
July 8, 2024
News
Gibraltar: Additional tax proposals in 2024 budget, including update to Pillar Two rules
Minister for Justice, Trade and Industry addressed the Gibraltar parliament
July 3, 2024
News
Belgium: Extended deadline for GloBE registration for groups not intending to prepay to 16 September 2024
Deadline remains unchanged for groups that intend to prepay
July 2, 2024
News
Australia: ATO update on implementation of Pillar Two global minimum tax rules
Australian-specific administration and interpretation issues
July 1, 2024
News
Information reporting, determination of amount realized and basis, and backup withholding for digital asset transactions
Regarding information reporting, determination of amount realized and basis, and backup withholding for digital asset transactions
June 28, 2024
News
Germany: Draft bill for Annual Tax Act 2024 published, includes Pillar Two changes; other tax developments
Recent tax developments in Germany
June 28, 2024
News
KPMG report: Accounting for income tax implications of Pillar Two GloBE top-up taxes
A KPMG report that discusses how implementing the new rules and determining the appropriate accounting impacts may be challenging.
June 25, 2024
News
Canada: Outstanding tax measures enacted, including Pillar Two, EIFEL, hybrid mismatch, clean economy, and GAAR
Tax measures previously proposed in the federal budgets of 2022, 2023, and 2024, as well as the 2023 federal economic update
June 24, 2024
News
KPMG report: OECD unveils further details on Amount B simplified approach
The OECD published additional guidance on key definitions related to Amount B.
June 18, 2024
News
OECD: Further guidance on Pillar One Amount B and Pillar Two global minimum tax
Further information relating to Amount B of Pillar One and the global minimum tax under Pillar Two
June 17, 2024
News
Poland: Postponement of e-invoicing mandate signed by president
Postponed to February 1, 2026
June 11, 2024
News
UN: Proposed zero draft terms of reference for UN framework convention on international tax cooperation
Written comments are due by 21 June 2024.
June 10, 2024
News
Senegal: Changes to VAT on cross-border provision of digital services, now effective from 1 July 2024
Rules are now going to be effective from 1 July 2024
June 6, 2024
News
Australia: Reporting exemption for specified transactions for electronic distribution platform operators
The ATO registered a legislative instrument that exempts EDP operators from having to include specified classes of transactions in their reporting.
June 6, 2024
News
Italy: Implementation of Pillar Two transitional safe harbors
Transitional country-by-country (CbC) reporting safe harbors for groups subject to the Pillar Two global minimum tax
June 4, 2024
News
KPMG report: Assessing the impact of Amount B
Unexpected outcomes and potential challenges that businesses may need to consider
June 3, 2024
News
Statement by co-chairs of Inclusive Framework on BEPS indicates final negotiations on Pillar One nearing completion
The OECD released a statement by the co-chairs of the Inclusive Framework on Base Erosion and Profit Shifting.
May 30, 2024
News
Japan: Explanation of guidance on income inclusion rule, associated forms and schedules
National Tax Agency explanation of guidance relating to the income inclusion rule
May 30, 2024
News
Italy: Certain additional obligations on online service providers not allowed under EU law (CJEU judgment)
Certain additional obligations under Italian law on providers of online intermediation services and search engines are precluded under EU law.
May 30, 2024
News
Belgium: Due date for first GloBE registration is July 13, 2024
July 13 is the due date for the first notification deadline for GloBE registration in Belgium
May 29, 2024
News
Crown Dependencies: Details on plans to implement Pillar Two global minimum tax
All islands have expressed intention to work cooperatively, but each is adopting a different approach.
May 24, 2024
News
Spain: Consultation on draft legislation implementing Pillar Two global minimum tax
Comments accepted until May 31, 2024
May 23, 2024
News
Australia: KPMG comments on subordinate draft legislation implementing Pillar Two global minimum tax rules
KPMG tax professionals provided a submission to Treasury on the primary legislation
May 23, 2024
News
Switzerland: Cantonal tax law changes in response to Pillar Two global minimum tax
Several cantons have changed their tax rates in response to enactment of Pillar Two global minimum tax
May 22, 2024
News
Belgium: GloBE registration requirements for multinational and large domestic groups
Responsibility lies with Belgian ultimate parent entity or Belgian constituent entity
May 22, 2024
News
Australia: Proposed exemptions from sharing economy reporting regime
Proposed exemptions would apply even to supplies that create a GST liability for the supplier or electronic distribution platform
May 21, 2024
News
Kenya: Tax proposals in Finance Bill, 2024 include implementation of Pillar Two global minimum tax
Changes to tax framework
May 16, 2024
News
Costa Rica: Public consultation on draft law introducing reporting obligations for digital platform operators
The aim is to adopt the OECD’s Model Reporting Rules for digital platforms.
May 13, 2024
News
Canada: Sales tax changes target digital products and services (British Columbia)
Changes apply retroactively to 2013 and broaden certain definitions under the provincial sales tax rules
May 10, 2024
News
Brazil: Draft regulations to introduce new dual VAT regime
The Brazilian government presented to Congress the regulations to introduce the new dual VAT regime under the tax reform bill.
May 6, 2024
News
Belgium: Amendments to Pillar Two global minimum tax rules
The Belgian Parliament adopted amendments to the Pillar Two global minimum tax rules that were adopted in December 2023.
May 3, 2024
News
Norway: Pillar Two global minimum tax implemented in Supplementary Tax Act
Norway implemented the Pillar Two global minimum tax rules in the Supplementary Tax Act, which became effective 1 January 2024.
May 2, 2024
News
Australia: Amendments to superannuation system
A key amendment in the amending regulation is the addition of a new paragraph into the definition of “superannuation system”.
April 30, 2024
News
OECD: Consolidated commentary on Pillar Two rules, updated Pillar Two examples
The OECD released a consolidated commentary to Pillar Two global anti-base erosion (GloBE) rules.
April 30, 2024
News
Poland: Draft bill implementing Pillar Two global minimum tax published
Provides for an income inclusion rule, qualified domestic minimum top-up tax, and undertaxed profit rule
April 29, 2024
News
KPMG reports: Alabama, Arkansas, Colorado, South Carolina, Tennessee, Virginia
KPMG This Week in State Tax focuses on recent state and local tax developments.
April 29, 2024
News
Germany: Draft bill for Annual Tax Act 2024 includes Pillar Two changes, other tax developments
Recent tax developments in Germany
April 25, 2024
News
Germany: VAT treatment of vouchers (CJEU judgment)
Judgment clarifies when a voucher qualifies as a single-purpose voucher, and discusses the VAT consequences of the resale of a multi-purpose voucher
April 23, 2024
News
Australia: KPMG comments on draft legislation implementing Pillar Two global minimum tax rules
KPMG tax professionals provided a submission to Treasury
April 19, 2024
News
KPMG report: Initial analysis of stock repurchase excise tax proposed regulations
A report that provides initial analysis of the proposed regulations
April 17, 2024
News
KPMG report: Partnership audit rules and specific IRS forms
Partnership audit rules enacted by the BBA have altered how partners report and pay tax on adjustments
April 15, 2024
News
Korea: Guidance regarding amendments to Pillar Two rules
The Ministry of Economy and Finance published regulations regarding the amendments to the Korean Pillar Two global minimum tax rules.
April 11, 2024
News
KPMG report: State, local tax changes (first quarter 2024, table format)
Summary of state and local tax developments for the first quarter of 2024
April 10, 2024
News
KPMG reports: Arizona, Kentucky, Minnesota
KPMG reports focus on recent state and local tax developments
April 8, 2024
News
KPMG report: Global e-invoicing and digital reporting mandates
Review of digital reporting rules and why it’s imperative for the C-suite of global multinationals to respond
April 8, 2024
News
KPMG report: Transfer pricing and ESG—improving governance by operationalizing transfer pricing
A report that focuses on ways multinational corporations can use operational transfer pricing as a mechanism to improve compliance
April 8, 2024
News
Poland: New bill implementing reporting obligations for digital platform operators (DAC7)
Bill implementing Council Directive (EU) 2021/514 (DAC7)
April 3, 2024
News
Sweden: VAT treatment of NFTs associated with a digital work
Combination of digital work's ownership and ability to verify ownership through the NFT constitutes a new service
April 2, 2024
News
KPMG report: Recent DCL and Pillar Two guidance, comments and recommendations
Interaction of U.S. dual consolidated loss (DCL) rules and the OECD Pillar Two rules may result in unintended consequences
April 2, 2024
News
Laos: VAT on cross-border provision of digital services
Provisions, effective 1 August 2024, requiring nonresident digital services providers to register for and collect value added tax
March 29, 2024
News
Luxembourg: Guidance under Pillar Two law relating to inclusion of deferred tax assets and liabilities in computing ETR
Clarifications with respect to Article 53 of the Pillar Two law enacted in December 2023
March 28, 2024
News
Chile: Tax reform bill introduces VAT liability for sales of low-value goods
Tax authority expected to issue further guidance to clarify the proposed regime
March 27, 2024
News
Ireland: Tax changes for the asset management and funds industry, including Pillar Two rules
Legislative and revenue practice changes that may have an impact for funds and the asset management industry
March 25, 2024
News
Australia: Consultation on draft legislation implementing Pillar Two global minimum tax rules
Consultation on primary legislation closes 16 April 2024, and consultation on subordinate legislation closes 16 May 2024.
March 22, 2024
News
Australia: Consultation on new proposed reporting exemptions for electronic distribution platform operators
Consultation on a draft legislative instrument that would introduce new reporting exemptions for electronic distribution platforms operators
March 21, 2024
News
Finland: Legislation implementing Pillar Two global minimum tax
New legislation effective 1 January 2024 and introduces a Finnish domestic minimum top-up tax (DMTT)
March 21, 2024
News
KPMG report: Amount B compliance challenges
Compliance challenges associated with the Amount B consensus document
March 19, 2024
News
Cyprus: Draft legislation implementing Pillar Two global minimum tax rules
Draft legislation would introduce IIR and UTPR for MNEs, and harmonize the tax framework with EU directive
March 14, 2024
News
Malta: Guidance on implementation of Pillar Two global minimum tax
Guidance addresses option to defer implementation of parts of EU Directive and compliance obligation of local entities affected by EU Directive
March 14, 2024
News
Jamaica: Tax measures in 2024-2025 budget
Proposed tax changes included in budget
March 14, 2024
News
United States and Turkey announce updated digital services tax agreement
Summary of political agreement between United States and Turkey
March 12, 2024
News
EU: VAT obligations of digital platforms pre-2015 (CJEU referral)
Referral from the German Federal Tax Court (BFH)
March 11, 2024
News
Philippines: Proposed legislation regarding VAT on cross-border provision of digital services
Proposed 12% VAT on digital services consumed in the Philippines
March 7, 2024
News
Angola: Revisions to VAT law, including taxation of e-commerce transactions
Law No. 14/23 revises the value added tax (VAT) law
March 6, 2024
News
Spain: Digital platform operators must file returns under DAC7 by 8 April 2024
Royal Decree 117/2024 and Order HAC/72/2024 were published in the Official State Gazette.
March 5, 2024
News
Poland: Bill implementing Pillar Two global minimum tax
The bill is expected to be passed by the Council of Ministers no earlier than in Q3
March 5, 2024
News
EU: European public prosecutor's office estimates serious VAT fraud amounting to €11.5 billion
71% increase from 2022 report
March 5, 2024
News
Morocco: VAT on cross-border provision of digital services
Provisions clarifying VAT obligations of nonresident digital services providers effective 1 January 2024
March 4, 2024
News
Colombia: Corporate compliance for legal entities with presence in Colombia (2024)
Summary of the corporate, commercial, customs, and foreign exchange obligations for 2024
March 1, 2024
News
Romania: Law implementing Pillar Two global minimum tax
Law 431/2023
January 16, 2024
News
OECD: Report to G20 Finance Ministers and Central Bank Governors, updates on developments in international tax reforms
Latest developments include BEPS initiatives, tax transparency efforts and other G20 tax deliverables
February 29, 2024
News
Republic of the Congo: VAT on cross-border provision of digital services
Finance Act for 2024 includes provisions requiring nonresident digital services providers to register for and collect VAT
February 27, 2024
News
Slovakia: Legislation implementing Pillar Two global minimum tax passed by Parliament
Legislation introduces a so-called “top-up tax”
February 23, 2024
News
KPMG report: Overview and initial observations on Pillar One – Amount B
Overview of the OECD report on Amount B and initial observations on how multinationals can respond
February 21, 2024
News
Singapore: Tax measures in budget 2024 include Pillar Two global minimum tax rules
Proposals implementing Pillar Two global minimum tax rules for financial years starting 1 January 2025
February 20, 2024
News
OECD: Report on Amount B under Pillar One
Simplified and streamlined approach to the application of the arm's length principle to baseline marketing and distribution activities
February 19, 2024
News
Malaysia: Updated e-invoicing guidelines, software development kit
The Inland Revenue Board issued an updated e-invoice guideline and e-invoice specific guideline.
February 16, 2024
News
Malaysia: Final guide on transitional rules for service tax rate change on foreign digital services
Final guide on transitional rules for change in service tax rate on digital services provided by foreign registered persons
February 16, 2024
News
France: Tax authority guidance on VAT treatment of non-fungible tokens
VAT rules must be applied on a case-by-case basis.
February 16, 2024
News
U.S. Treasury statement regarding extended agreement on digital services taxes imposed by Austria, France, Italy, Spain, United Kingdom
Extended political agreement regarding unilateral measures concerning the imposition of digital services taxes (DSTs)
February 15, 2024
News
Vietnam: New telecommunications law
Provisions regarding the payment of fees for registering or maintaining the use of network numbers
February 15, 2024
News
Greece: Guidance on new reporting obligations for digital platform operators (DAC7)
Decision A.1016/2014 extends the deadline for submitting the required data or nil reporting for the year 2023.
February 13, 2024
News
Philippines: Tax on e-commerce transactions
Regulations issued to impose a withholding tax on gross remittances made by e-marketplace operators and digital financial service providers
February 9, 2024
News
Senegal: VAT on cross-border provision of digital services
Covered nonresidents are required to comply with the rules starting 1 April 2024
February 6, 2024
News
Japan: Outline of 2024 tax reform proposals
The ruling governing coalition agreed to an outline of tax reform proposals for 2024.
February 5, 2024
News
Japan: Additional guidance on income inclusion rule
The National Tax Agency released guidance in the form of Q&As on income inclusion rule
February 5, 2024
News
Colombia: Modified tax Form 490 includes significant economic presence corporate income tax payments
Colombian tax authority (CTA) issued Resolution No. 4 modifying tax Form 490
February 1, 2024
News
Tanzania: VAT and DST obligations for nonresident providers of cross-border electronic services
All nonresident providers of electronic services must register for VAT and DST voluntarily using a simplified registration framework
January 31, 2024
News
Germany: Guidance on obligations of payment service providers, other VAT developments
Guidance regarding obligations of payment service providers within framework of new centralized European system
January 30, 2024
News
Nigeria: Guidelines to simplify the compliance regime for goods sold through digital means postponed indefinitely
The guidelines were scheduled to become effective from 1 January 2024.
January 19, 2024
News
Mexico: List of 201 registered foreign providers of digital services (as of 31 December 2023)
The tax administration published a list of foreign providers of digital services that are registered for tax purposes.
January 18, 2024
News
Italy: Pillar Two global minimum tax rules implemented
Legislative decree n. 209 implemented the EU Minimum Tax Directive in Italy effective 1 January 2024.
January 18, 2024
News
Czech Republic: Legislation introducing top-up tax, implementing EU directive on global minimum tax, now effective
The law introducing a top-up tax to implement the EU directive on global minimum tax became effective on 31 December 2023.
January 17, 2024
News
Poland: Bill on cryptoassets; Minister of Finance activities for 2024
Reports about recent tax-related developments
January 16, 2024
News
France: Tax-related provisions in finance law for 2024
Pillar Two rules and transfer pricing documentation changes
January 12, 2024
News
Korea: Amendments to Pillar Two rules enacted
The National Assembly passed the 2023 tax reform proposal, which includes amendments to the Korean Pillar Two global minimum tax rules.
January 11, 2024
News
Fourth Circuit: Certain challenges to Maryland digital advertising tax barred, but constitutional challenge may proceed
A Fourth Circuit case concerning Maryland’s tax on digital advertising
January 10, 2024
News
India: Guidelines for withholding tax on e-commerce transactions
Central Board of Direct Taxes (CBDT) guidelines under section 194-O in the Income-tax Act 1961
January 5, 2024
News
Effect of group membership on arm’s length interest rate on intragroup loans (Chief Counsel legal advice memorandum)
Legal advice memorandum from the Office of Chief Counsel
January 2, 2024
News
KPMG report: Pillar Two rules and the asset management industry
The rules can impose additional tax on MNE groups when the UPE is a flow-through entity.
January 2, 2024
News
Hong Kong: Consultation paper on implementation of Pillar Two global minimum tax
Income inclusion rule (IIR), undertaxed profits rule (UTPR), and domestic minimum top-up tax (DMTT)
January 2, 2024
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