23 June 2025 Americas Tax Roundup | 23 June 2025 | | | | A weekly summary of the top weekly tax news, trends
and developments in the Americas | | | | | | | | | | | | | This week's tax news from the Americas - US Treasury Department and IRS issue new CAMT interim guidance
In interim guidance (Notice 2025-27), the Treasury Department and the IRS revised the safe harbor for determining applicable corporation status (interim simplified method) for purposes of the corporate alternative minimum tax (CAMT). The guidance also includes relief from certain additions to tax under IRC Section 6655 with respect to an applicable corporation's underpayment of estimated CAMT liability for the 2025 tax year. Additionally, the Treasury Department and the IRS announced that they (1) intend to issue additional interim guidance on several aspects of the proposed CAMT regulations (future interim guidance), and (2) anticipate issuing new proposed CAMT regulations that modify the existing proposed CAMT regulations to incorporate the interim simplified method and the future interim guidance.
- Brazilian Government announces substantial tax changes affecting interest on net equity, financial investments, betting operations and IOF regulations
On 11 June 2025, the Brazilian Government published in the Official Gazette Provisional Measure No. 1,303/2025 (the PM), which increases the taxation of interest on net equity payments, certain financial investments and corporate income tax for financial institutions, among other provisions. These changes should take effect from 1 January 2026. The PM also includes increases in the taxation of online betting operations, effective 1 October 2025. Also on 11 June, the Government published Decree No. 12,499/2025, effectively repealing some of the recent changes to the tax on financial operations (IOF) legislation introduced in May 2025. These changes are effective immediately from 12 June 2025.
- Peru deposits MLI with OECD
Peruvian President Dina Boluarte, on 9 June 2025, deposited the ratification instrument of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) with the Organisation for Economic Co-operation and Development (OECD). The provisions of the MLI will come into force for Peru on 1 October 2025 and take effect as of 1 January 2026.
| | | | | | | This week's newsletters - The Latest on BEPS and Beyond - June 2025
Our monthly report with brief summaries of the latest activity in the OECD Base Erosion and Profit Shifting (BEPS) project as well as country specific legislative and administrative activity, including global and regional policy trends related to the global focus on BEPS.
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Comments. If you have any questions or suggestions about this newsletter, please email Tax News Update Help at: ustaxalertshelp@ey.com. | | | | | | | | 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. | | | |
Document ID: 2025-1314 |
