This column is reprinted with the publisher’s, Wolters Kluwer, permission from Global Tax Weekly, and originally appeared on page 26, April 5th edition.
We are several months into the new tax regime, and we in the tax community are still wrapping our heads around the complex and far-reaching new provisions. The Republicans' goal of a simplified, territorial system was clearly lost on the drafters, as we now live under an even more complicated set of rules that may be more akin to a pure worldwide tax system, largely thanks to one provision: Global Intangible Low-Taxed Income, or GILTI.
Romania plans 21% standard VAT rate and 11% reduced rate from 1 August 2025 – What businesses must do now
July 3, 2025
The Romanian Prime Minister has reintroduced legislation raising the standard VAT rate from 19% to 21% and replacing the existing 5% and 9% VAT rates by a new reduced rate of 11% with effect from 1 August 2025 (supply date driven).
G-7 PILLAR 2 STATEMENT: GETTING SOMETHING FOR NOTHING
July 2, 2025
The tax reform package within the One Big Beautiful Bill Act (OBBBA) continues to make its way through Congress, however, one proposed provision that imposes 'unfair foreign taxes' (section 899) has had a worldwide impact.
German Tax Update – 26 June 2025
July 2, 2025
In this week’s German Tax Update, we report on the revised draft guidance on mandatory e-invoicing in Germany.
VIETNAM PASSES NEW CORPORATE INCOME TAX LAW
July 1, 2025
Vietnam's Corporate Income Tax taking effect Oct. 1, 2025, will affect capital gains, PE, loss offset, overseas investment declaration, and exit planning.
