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27 June 2025

EY publication highlights accounting implications of 2025 Q2 income tax developments

The Quarterly tax developments for the quarter ended June 30 is attached below. Prepared by Ernst & Young LLP's Tax Accounting group, this publication provides a quarterly overview of enacted tax legislation, as well as regulatory developments and other items through June 11, 2025, except as noted.

Highlights of this edition include:

 — Tax legislation enacted this quarter

 — Treaties effective this quarter

 — Other developments to consider for the quarter

 — Things we have our eyes on

 — A link to our recent TechLine discussing the effects of the current economic environment and tariffs on their accounting and financial reporting

 — An update on the enactment status of Pillar Two legislation in various countries

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RELATED RESOURCES

 — For more information about EY's Tax Accounting services, visit us at www.ey.com/US/TaxAccounting

 — For more information about EY's Tax Accounting University education program for clients, visit us at www.ey.com/TAU

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Attachment

Quarterly Tax Accounting Developments for Q2 2025

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Contact Information

For additional information concerning this Alert, please contact:

Tax Accounting and Risk Advisory Services

Published by NTD’s Tax Technical Knowledge Services group; Maureen Sanelli, legal editor

Document ID: 2025-1357

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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