A weekly summary of the top weekly tax news, trends
and developments in the Americas

     This week's tax news from the Americas

• US and China reach trade deal, as US Department of Commerce initiates investigation on aircraft and jet engines
  The United States and China released, on 12 May 2025, a Joint Statement in which they agreed to revise their additional ad valorem duties on each other's goods, suspending 24 percentage points of the duty rate for 90 days while maintaining a 10% rate, and eliminating certain modified duties to enhance their trade relationship. This change effectively brings the US tariff on goods imported from China down to a baseline of 30%.

• Canada | Preparing for filing and payment obligations for the digital services tax
  The filing and payment deadline under Canada's Digital Services Tax Act for the 2022, 2023 and 2024 calendar years is 30 June 2025. Businesses with global consolidated revenues of at least €750m and Canadian digital services revenue exceeding CA$20m must pay a 3% tax on their taxable Canadian digital services revenue over CA$20m in a calendar year. For Canadian digital services revenue exceeding CA$10m, registration is required.

• Peruvian Tax Authority amends guidelines to determine whether services qualify as digital services
  In Ruling 046-202529 (issued April 2025), the Peruvian Tax Authority clarified that only services that are essentially automatic, delivered online, and reliant on the internet should qualify as digital services. Services involving human intervention do not qualify as digital services.

• Argentina implements installment plan for corporate income tax obligations
  Through General Resolution No. 5,684, published in the Official Gazette on 30 April 2025, the Argentina Revenue and Customs Control Agency established an installment plan for the cancelation of the balance of an entity's corporate income tax and its interest, when net operating losses from previous years have been computed incorrectly, either due to errors in their computation or in their update.

• Argentine Senate approves Multilateral Instrument
  On 7 May 2025, the Argentine Senate approved the Multilateral Instrument (MLI) to implement Tax-Treaty-Related Measures to Prevent Base Erosion and Profit Shifting. The Chamber of Deputies previously approved the bill to ratify the MLI in October 2024. Once the law is published in the Official Gazette, the MLI will take effect three calendar months after the instrument is submitted to the Organisation for Economic Co-operation and Development.

• Argentine Central Bank allows subscription of BOPREAL Series 4 to pay remaining debts
  In Communications "A" 8233 and "A" 8234 (issued, 30 April 2025), the Argentine Central Bank allows the subscription of Bonds for the Reconstruction for a Free Argentina (BOPREAL) Series 4 to pay remaining debts with foreign parties. BOPREALs will be denominated in US dollars and accrue an annual interest rate of 3%, which may be payable quarterly or semi-annually in US dollars, to be defined when the tender is announced. The first tender is scheduled for mid-May.

      This week's newsletters

• Report on recent US international tax developments - 16 May 2025
  Our weekly report with brief summaries of all the week's US international tax developments and related activity.

• EY Global Tax Controversy Flash Newsletter – May 2025
  Our monthly publication with recent developments in Tax Controversy news.

• Global Tax Policy and Controversy Watch | May 2025
  EY's monthly report with highlights of the latest Global Tax Controversy developments.

      Upcoming EY webcasts

• 20 May: Navigating the new UK personal tax and immigration landscape
• 20 May: How to navigate the challenges and opportunities of mine closure
• 29 May: BorderCrossings … with EY transfer pricing and tax professionals
• 3 June: Tax policy update: Real estate sector outlook
• 5 June: Private equity & private capital quarterly tax update – Q2 2025
• 10 June: Considerations for metals and minerals companies on tariffs, trade and transparency

A calendar of all upcoming EY webcasts is available.

      Recent EY podcasts

• EY Podcast | Weekly US international cross-border taxation news for week ending 16 May 2025

All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts.

      This week's EY Global Tax Alerts

     Americas

• US Department of Homeland Security announces termination of Temporary Protected Status for Afghanistan

     Africa

• Kenya introduces Finance Bill 2025
• South Africa's Constitutional Court declares automatic loss of South African citizenship unconstitutional

     Europe

• EU prepares additional countermeasures against US tariffs while continuing negotiations
• German Federal Fiscal Court rules on tax consequences of parallel imports in pharmaceuticals industry
• Ireland announces new visa requirement for nationals of Trinidad and Tobago
• Slovakia experiencing delays in appointment slots for foreign employees and other third-country nationals
• United Kingdom | Trade deal with United States announced
• UK plans to introduce key immigration changes as part of their Plan for Change

Additional resources

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About Americas Tax Roundup

Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Mannetta, writer and editor

Distributed weekly to all Americas Tax personnel.