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KPMG Week in Tax: August 25 – 29, 2025

Recent tax developments from around the globe for the week of August 25 – 29, 2025

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September 1, 2025

KPMG Week in Tax—published weekly to provide an overview of tax developments as reported in TaxNewsFlash—includes summaries of select tax-related news followed by a full list of reports (more information can be found at the links provided).

  • United States: Rev. Proc. 2025-28 instructs taxpayers on how to make various elections, file amended or superseding returns, and make changes in accounting method for research or experimental expenditures in order to comply with sections 174, 174A, and 280C, as amended and added by the One Big Beautiful Bill Act (OB3). Read TaxNewsFlash
  • Ireland: Irish Revenue has published updated guidance on the application of the minimum taxation rules and opened the online registration portal for Pillar Two. Read TaxNewsFlash
  • Poland: The president signed into law the legislation that introduces the mandatory application of the national electronic invoicing (e-invoicing) system, with phased implementation for the largest taxpayers beginning February 1, 2026. Read TaxNewsFlash

United States

  • Rev. Proc. 2025-28: Research and experimental expenditures under OB3 
  • Rev. Rul. 2025-18: Interest rates, tax underpayments and overpayments remain same for fourth quarter 2025 
  • Sixth Circuit: 90-day petition-filing deadline is nonjurisdictional claims-processing rule subject to equitable tolling 
  • QI / WP / WT application deadline for 2025 is September 30

Read TaxNewsFlash-United States

Transfer Pricing

  • Ireland: Pillar Two registration portal now open 
  • Ireland: Updated Pillar Two guidance 
  • Mauritius: Finance Act 2025 includes 15% domestic minimum top-up tax (DMTT) 
  • OECD: Updated outcomes of Pillar Two transitional peer review process 
  • UK: New guidance manual on Pillar Two

Read TaxNewsFlash-Transfer Pricing

Trade & Customs

  • Cambodia implements 0% customs duty on eligible U.S.-origin goods
  • International Traffic in Arms Regulations (ITAR) amendments update U.S. Munitions List
  • U.S. BIS eases export controls on Syria
  • U.S. CBP implements executive order suspending duty-free de minimis treatment for all countries
  • U.S. CBP notice implementing additional 25% tariff on Indian imports
  • USTR extends product exclusions related to China Section 301 tariffs

Read TradeNewsFlash-Trade & Customs

Africa

  • Botswana: Proposed amendments to VAT law 
  • Egypt: New tax laws regarding compliance, incentives, and procedures 
  • Egypt: VAT amendments to certain goods 
  • Mauritius: Finance Act 2025 includes 15% domestic minimum top-up tax (DMTT) 
  • South Africa: Draft legislation addressing scope of section 23M 
  • South Africa: Guidance on advance tax rulings, tariff system for excess electricity from renewable sources

Read TaxNewsFlash-Africa

Americas

  • Argentina: Extension of PAIS tax refund request deadline 
  • Argentina: Simplified pre-filled VAT return system introduced 
  • Panama: Updating tax identification number information required for all taxpayers by December 31

Read TaxNewsFlash-Americas

Asia Pacific

  • Bahrain: Updated imports and exports VAT guide 
  • Bangladesh: Summary of tax laws as amended by Finance Ordinance 2025 
  • Cambodia: Implementation of 0% customs duty on eligible U.S.-origin goods 
  • China: New reporting rules for digital platform operators 
  • India: Exemption from withholding tax on specific payments to Financial Centre units 
  • India: Principal purpose test under MLI cannot be applied without specific notification in India-Ireland treaty (tribunal decision) 
  • New Zealand: August tax bill includes changes to tax residence rules for “nonresident visitors” 
  • Philippines: VAT exemption for medicines 
  • Singapore: Tax treatment of consideration received for transfer of certain intellectual property

Read TaxNewsFlash-Asia Pacific

Europe

  • Cyprus: Confirmation of beneficial owners’ details by December 31 
  • Germany: Compatibility of withholding tax rules with EU free movement of capital (CJEU referral) 
  • Germany: Draft amendments to Pillar Two rules; other tax developments 
  • Ireland: Pillar Two registration portal now open 
  • Ireland: Updated Pillar Two guidance 
  • Luxembourg: Guidance clarifies definition of “collective investment vehicle” (CIV) 
  • Malta: Audit report exemptions for small companies 
  • Netherlands: Updated guidance on ATAD interest-deduction limitation rules 
  • North Macedonia: Tax card for 2025 
  • Poland: Amendments to “sugar tax”; increase in corporate tax for banks; other tax developments 
  • Poland: Compatibility of exit tax with EU law (CJEU referral) 
  • Poland: President signs law mandating national e-invoicing system (KSeF) 
  • Poland: Updated draft amendments to mandatory disclosure rules (DAC6) 
  • Portugal: Interest on refunds for withheld taxes on dividends (Supreme Administrative Court decision) 
  • UK: New guidance manual on Pillar Two

Read TaxNewsFlash-Europe

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