On December 23, 2024, a three-judge panel of the United States Court of Appeals for the Fifth Circuit stayed the nationwide preliminary injunction, reinstating the reporting requirements under the Corporate Transparency Act for millions of companies.
FinCEN has updated its alert to include an extension of the initial January 1, 2025, reporting deadline, referring to the Department of Treasury’s recognition that reporting companies may need additional time to comply with the reporting requirements.
Reporting companies formed or registered prior to January 1, 2024, now have until January 13, 2025, to file their initial Beneficial Ownership Information reports.
Reporting companies formed or registered on or after September 4, 2024, that originally had a filing deadline between December 3, 2024, and December 23, 2024, also have until January 13, 2025, to file their initial Beneficial Ownership Reports.
Reporting companies formed or registered on or after December 3, 2024, and on or before December 23, 2024, have an additional 21 days from their original filing deadline to file their initial Beneficial Ownership Reports.
The South Korean National Assembly accepted Bill No. 2204961, a proposal to amend the Value-Added Tax (VAT) Act as part of the 2025 budget package. The bill includes measures to encourage digital compliance,
Hong Kong has taken a hard stance against unlicensed cryptocurrency exchanges, issuing a directive for immediate shutdowns. The Securities and Futures Commission (SFC) of Hong Kong has disclosed that
Germany has come out against France’s proposal to retaliate against US-imposed tariffs on the EU by imposing taxes on major American tech companies, highlighting the difficulty Europe faces in
The European Public Prosecutor’s Office (EPPO) opened 1,504 new investigations last year into fraud involving subsidies and tax evasion, according to its 2024 annual report. The total damage to the