A Member of the European Parliament (MEP), João Oliveira, has tabled a motion for a European Parliament resolution on the need to improve tax fairness and ban tax havens.

The motion calls on the Member States to introduce mandatory reporting of transfers to countries, territories and regions with clearly more favorable preferential tax regimes.

The motion urges the Council and the Member States to work together at EU and international level to ban transactions to countries, territories and regions with clearly more favorable, non-cooperative preferential tax regimes.
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Finally, the motion urges the Commission and the Council to create the conditions for tax havens to cease to exist and calls on the Member States to tax wealth where it is generated, improving tax fairness.

Bermuda’s Corporate Income Tax Agency (CITA) has launched a public consultation to gather stakeholder feedback on the second set of proposed technical amendments to the Corporate Income Tax Act 2023 (“the CIT Act”).

These amendments aim to clarify specific provisions and improve alignment with the OECD’s GloBE Rules.

CITA has already considered some stakeholder feedback and incorporated relevant changes into the draft legislation. Through this consultation, the Agency seeks further feedback on the revised draft and suggestions for any additional guidance needed to support implementation.
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The consultation period will run from September 12-26, 2025. 

The OECD released today 36 new peer review results under BEPS Action 14 on Mutual Agreement Procedures (MAP), highlighting continued progress by members of the Inclusive Framework on BEPS that have committed to implementing the Action 14 minimum standard, which seeks to improve the resolution of treaty-related disputes through the MAP. 

The new Assessment Methodology for the Action 14 peer reviews includes a simplified peer review process, for jurisdictions that do not have 'meaningful MAP experience,' allowing them to set up a more robust MAP program in response to a possible increase in cases in the future.
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It also includes a full peer review process, for jurisdictions considered to have 'meaningful MAP experience’ for continued monitoring purposes. 

Indian Finance Ministry has prepared a new Income Tax Bill, 2025 to be tabled before Parliament.

In her 2025 Budget speech, Indian Finance Minister had announced that the government will introduce a new Income Tax Bill to simplify the country’s tax law. Spanning 622 pages, the new Income Tax Bill, 2025 aims to replace the 60-year-old Income Tax Act, 1961.
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The new Income Tax Act, 2025, if enacted as expected, will apply from 2026.