A summary of the top weekly tax developments in the Americas

     This week's tax news from the Americas

• Canada introduces 2025 federal budget
  On 4 November 2025, Canada’s Minister of Finance and National Revenue, François-Philippe Champagne, introduced the 2025 federal budget. The budget contains tax measures affecting individuals and corporations but would not change the general corporate tax rate or the personal income tax rates. Proposed changes include significantly restructuring Canada's transfer pricing rules, allowing immediate expensing for eligible manufacturing and processing buildings, reinstating accelerated capital cost allowance for liquefied natural gas facilities, and enhancing tax incentives for scientific research and experimental development.

• Colombian Constitutional Court upholds validity of certain temporary taxes
  In a 16 October 2025 ruling (C-431/25), Colombia's Constitutional Court confirmed that temporary taxes introduced during a security emergency are valid to the extent that total collection does not exceed the authorized budget to be raised by these taxes. If the total amount collected from these temporary taxes exceeds the budget authorized for the emergency measure, the excess must be returned to taxpayers. The taxes include a 1% stamp tax, a 19% VAT on online gambling and a 1% Catatumbo tax on hydrocarbons and coal. The taxes will remain in effect until 31 December 2025.

• OECD's 2024 Mutual Agreement Procedure statistics show increase in US cases closed and new cases filed
  Mutual Agreement Procedure (MAP) statistics released by the Organisation for Economic Co-operation and Development (OECD) on 31 October 2025, show that the US MAP program's inventory of open cases decreased modestly for transfer pricing cases but increased for non-transfer pricing cases in 2024. The US MAP program closed 290 total cases (up from 245 in 2023) and opened 329 (up from 247 in 2023).

      This week's newsletters

• Report on recent US international tax developments - 14 November 2025
  Our weekly report with brief summaries of all the week's US international tax developments and related activity.

• EY's global e–invoicing developments tracker | 5 November 2025
  Our global E–invoicing Developments Tracker includes the latest developments to empower organizations to adapt swiftly to the changing landscape of global tax compliance.

• EY Global Tax Controversy Flash Newsletter – 10 November 2025
  Our monthly publication with recent developments in Tax Controversy news.

• Global Tax Policy and Controversy Watch – 10 November 2025
  Our monthly report with highlights of the latest Global Tax Controversy developments.

      Upcoming EY webcasts

• 18 November: What EY 2025 Work Reimagined study reveals about AI and the workforce
• 19 November: International tax talk quarterly series with the EY Global Tax Desk Network - November 2025
• 2 December: The future of Tax: leveraging agentic technologies to redefine tax operations
• 3 December: Evolving stablecoin regulation: insights on strategic impact
• 3 December: Year-end US information reporting changes - December 2025
• 4 December: Private equity & private capital quarterly tax update – Q4 2025
• 8 December: 2025 year-end tax considerations and hot topics for alternative asset managers
• 10 December: Profits not pilots: scaling AI across the retail enterprise

A calendar of all upcoming EY webcasts is available.

      Recent EY podcasts

• EY Podcast | Weekly US international cross-border taxation news for week ending 14 November 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

• Canada's 2025 budget and immigration levels plan discussed
• Guatemala announces new temporary residence permit for digital nomads

     Africa

• Algeria tax circulars clarify on-site tax audit procedures, arbitration requests, obligations/rights for audited companies
• Kenya Tax Appeals Tribunal rules outsourced employees are independent contractors

     Asia

• China Mainland introduces new visa-free policy for nationals of Sweden and extends visa-free policy for nationals of 45 countries
• Thailand launches online platform for work permit applications

     Europe

• Germany approves new salary thresholds for EU Blue Card and Distinct Professional Experience applicants
• Italy publishes decree on local compliance obligations related to Global Minimum Tax
• Luxembourg global compliance and reporting update

     Middle East

• Israel corporate income tax Circular No. 8/2025 — income allocation to R&D centers

     Oceania

• Australia skilled migration discussed
• Australian Tax Office releases draft instructions for completing public country-by-country reporting and preliminary eligibility issues

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.