US elections: Tax policies to expect in a second term Trump presidency

06 November, 2024

Since the inception of his political career, Trump had championed the working middle-class, however, his biggest tax reliefs were reserved for corporations and the wealthy. As the US election concludes, it seems like a second term for Donald J Trump is quite inevitable. The Tax Cuts and Jobs Act

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Israel announces 2025 state budget, increases VAT rate

06 November, 2024

Israel’s government passed the budget for 2025 on 1 November 2024. The 2025 budget includes various tax hikes, such as an increase in the standard VAT rate from 17% to 18% and spending cuts on most ministries. The Israeli Cabinet cited that tax

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EU Council approves digital age VAT package

06 November, 2024

The Council of the EU has announced that an agreement on the VAT in the Digital Age package was reached during the meeting on 5 November 2024. With new rules on electronic invoices, real-time data reporting, and business carried out through

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Germany gazettes Fourth Bureaucracy Relief Act to ease VAT obligations

06 November, 2024

Germany’s parliament enacted the Fourth Bureaucracy Reduction Act, published it in the Official Gazette 29 October 2024, with the aim to shorten document retention periods and simplify various VAT-related obligations. One key aspect of the Act

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Kenya proposes new economic presence and minimum top-up taxes

06 November, 2024

Kenya's National Assembly presented the Tax Laws (Amendment) Bill 2024 along with the Tax Procedures (Amendment) (No.2) Bill 2024 on 1 November 2024.  Both Tax Laws (Amendment) Bill 2024 along with the Tax Procedures (Amendment) (No.2) Bill 2024

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Philippines offers tax incentives to British investors under CREATE Act

06 November, 2024

The Philippines Department of Finance has published a press release about a recent event in London clarifying various tax incentives for British investors. The Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for

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Hong Kong announces 2023/24 tax return block extension for tax representatives

06 November, 2024

Hong Kong’s Inland Revenue Department (IRD) issued the Circular Letter To Tax Representatives Block Extension Scheme For Lodgement of 2023/24 Tax Returns on 4 November 2024, extending the due date for ‘M’ code tax filing

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Brazil announces new layout for VAT, excise tax returns

06 November, 2024

Brazil’s tax authorities have revised the layout for the monthly returns for the value-added tax (ICMS) and excise tax (IPI) on 5 November 2024. This updated layout features modifications to validation rules, inclusion of new fields, and

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New Zealand concludes trade agreement with the Gulf Cooperation Council

05 November, 2024

New Zealand and the six-nation Gulf Cooperation Council (GCC) have concluded negotiations on a trade agreement that will open up significant opportunities for New Zealand exporters in the Gulf region, Minister for Trade and Agriculture Todd McClay,

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