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

     This week's tax news from the Americas

• US President announces new Section 232 tariffs on imports of timber, lumber and their derivative products
  On 29 September 2025, US President Trump issued a Proclamation Adjusting Imports of Timber, Lumber, and Their Derivative Products into the United States (Proclamation). This action follows a report from the US Secretary of Commerce, which concluded that current import levels of wood products threaten to impair US national security. The Proclamation outlines the Secretary's findings regarding the impact of wood product imports on domestic industry and national security, emphasizing the need for protective measures.

• US expands export controls to include 50% 'Affiliates Rule' for restricted parties
  The US Department of Commerce, Bureau of Industry and Security, on 30 September 2025, published an Interim Final Rule establishing a "50% Affiliates Rule," resulting in a major and immediate expansion of US export controls. The rule is expected to significantly affect companies' compliance programs. Under the new rule, any entity that is 50% or more owned (directly or indirectly, individually or in aggregate) by one or more entities on the Entity List is automatically subject to the same export restrictions as the listed ownership entity.

• US Trade developments include new tariffs on pharmaceuticals, Section 232 investigations into certain imports
  On 25 September 2025, US President Trump informally announced new tariffs, effective 1 October 2025, including a 100% tariff on branded pharmaceuticals unless production is underway in the United States. Tariffs of 50% apply to kitchen cabinets, while 30% tariffs apply to upholstered furniture. Separately, the US Department of Commerce initiated Section 232 investigations into imports of robotics, industrial machinery, personal protective equipment and medical equipment, with a comment period ending on 17 October 2025.

• Argentine Tax Authorities implement new procedure to recover the Impuesto PAIS
  On 25 September 2025, the Argentine Revenue and Customs Control Agency (ARCA) published General Resolution No. 5,765/2025, establishing Phase 2 of the refund procedure for Impuesto PAIS payments on imports of goods, effective from 6 October through 19 November 2025. The new procedure applies to payments of Impuesto PAIS related to imports of goods registered through 12 December 2023 and those from 13 December 2023 to 24 November 2024, that meet certain requirements.

• Argentina's MLI enters into force on 1 January 2026
  On 29 September 2025, Argentina deposited with the Organisation for Economic Co-operation and Development (OECD) the ratification instrument for the "Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting" (MLI). With this step completed, the MLI will enter into force for Argentina on 1 January 2026. Multinational companies with a presence in Argentina should consider the changes the MLI introduces to the existing network of double tax treaties and assess the possible consequences for their cross-border transactions.

      This week's newsletters

• Report on recent US international tax developments - 3 October 2025
  Our weekly report with brief summaries of all the week's US international tax developments and related activity.

• Tax Matters @ EY - October 2025
  Our monthly Canadian summary to help you get up to date on recent tax news, case developments, publications and more.

      Upcoming EY webcasts

• 8 October: What payroll regulatory changes are effective from October 2025
• 9 October: Private Equity & Private Capital Quarterly Tax Update – Q3 2025
• 9 October: What’s new in sustainability reporting with ISSB standards
• 16 October: How to adjust to a volatile tax environment
• 17 October: Tax in a time of transition: Legislative, economic, regulatory and IRS developments
• 21 October: How to scale AI in compliance-driven sectors
• 28 October: The GLP-1 effect: Redefining consumption patterns in CPG

A calendar of all upcoming EY webcasts is available.

      Recent EY podcasts

• EY Podcast | Weekly US international cross-border taxation news for week ending 3 October 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 DHS proposes weighted selection process for H-1B Lottery

     Africa

• Algeria updates requirements for pharmaceutical manufacturing establishments
• South Africa extends temporary concession for individuals with pending waiver and appeal cases through 31 March 2026

     Europe

• European Commission publishes information on European Trust and Cooperation Approach initiative
• Luxembourg tax authority clarifies treatment of collective investment vehicles under Reverse Hybrid Entity Rules
• North Macedonia simplifies temporary residence permit requirements

     Middle East

• Turkiye removes additional tariffs on US, China and introduces new blanket tariffs for motor cars
• UAE Ministry of Finance publishes Ministerial Decisions on e-invoicing

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.