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: The IRS will phase out paper tax refund checks for individuals starting September 30, 2025, transitioning to electronic payments to enhance security, accelerate refunds, and reduce costs, with detailed guidance forthcoming. While most refunds will be issued via direct deposit or other secure electronic methods, alternative options and limited exceptions will remain available, and current payment procedures can continue until further notice. Read TaxNewsFlash
- Greece: The Ministry of Finance published new decisions outlining procedures, compliance obligations, and incentives for early adoption of e-invoicing, with tax benefits for businesses implementing ahead of the 2026 mandate. Eligible entities—including large enterprises and other businesses engaged in B2B and B2G transactions—can receive 100% enhanced depreciation and deductibility for related expenses, provided they submit required declarations by specified deadlines and use certified providers or the AADE “timologio” application. Read TaxNewsFlash
- OECD: Albania has become the 10th jurisdiction to sign the multilateral convention enabling implementation of the OECD’s subject to tax rule (STTR), which allows source countries to impose additional tax on certain cross-border intragroup payments taxed below 9% in the recipient’s jurisdiction. This convention streamlines the process for Inclusive Framework members to incorporate the STTR into existing bilateral tax treaties. Read TaxNewsFlash