Korea (Rep.) unveils 2025 tax revision bill, enhances R&D credits
The 2025 tax reform bill aims to bolster strategic industries and welfare by introducing targeted tax credits for R&D, AI, and K-content, while streamlining corporate and capital gains taxes. South Korea’s Ministry of Economy and Finance
See More
US: IRS updates 2025 inflation adjustment and reference price for renewable energy credit
The IRS set the inflation adjustment factor for the Renewable Electricity Production Credit (REPC) at 1.9971 and the reference price for wind-generated electricity at USD 0.031 per kilowatt hour for the 2025 tax year. The US Internal Revenue
See More
US: Trump ends clean energy tax credits for wind, solar facilities
Federal agencies must report their actions to the White House within 45 days. US President Donald Trump signed an executive order directing the Interior Department to review and adjust policies that currently favour renewable energy over other
See More
US: Connecticut enacts 2026–27 budget with corporate tax changes, digital media incentive expansion
The H.B. 7287 and H.B. 7166 establish the 2026-2027 state budget and expand the tax credits for digital media and film infrastructure. Connecticut Governor Ned Lamont (D) signed H.B. 7287 and H.B. 7166, which set the 2026-2027 state budget and
See More
US to end electric vehicle tax credits on 30 September
The newly passed legislation will terminate the USD 7,500 tax credits for new EVs and USD 4,000 credits for used EVs by 30 September 2025. The US Congress approved the ‘One Big Beautiful Bill’ on 3 July 2024, which ends the USD $7,500 tax
See More
China grants tax credit for reinvested dividends by foreign investors
A new corporate income tax credit for foreign investors reinvesting dividends from Chinese companies, retroactive from 1 January 2025 to 31 December 2028, offers a 10% credit to offset current-year tax payable. China's State Administration of
See MoreUS: Senate bill accelerates phaseout of renewable tax credits, introduces new levy
The US Senate's upcoming budget bill aims to eliminate wind and solar tax credits from 2005 and introduce a new tax on projects with Chinese components starting after 31 December 2027. The US Senate's latest budget bill, set for a potential vote
See MoreUS: Trump’s ‘One Big Beautiful Bill’ advances in the Senate with amendments
The amended text temporarily raises the SALT cap to USD 40,000, accelerates the phase-out of green energy credits, and eliminates proposed Tax Code Section 899 on foreign tax remedies. The Senate Budget Committee Chairman, Lindsey Graham,
See More
Italy clarifies tax credits for property refurbishments
Tax credits for qualifying expenses are 36% (50% for first dwellings) in 2025, and 30% (36% for first dwellings) in 2026-2027. Italy’s tax authorities have issued Circular No. 8/E on 19 June 2025, clarifying tax credits for property
See MoreUS: Senate bill proposes higher tax credit for CO2 use in oil production
The panel proposed equalizing the tax credit for using captured carbon in oil recovery with the USD 85/metric ton credit for permanently storing carbon. A US Senate panel released a bill proposing to match the tax credit for capturing carbon
See More
Canada: Ontario unveils 2025 budget, proposes increased tax credit for corporations
Minister of Finance Peter Bethlenfalvy, of the Canadian province of Ontario, presented the 2025 Ontario Budget: A Plan to Protect Ontario on 15 May 2025. It confirms no new changes to corporate or personal income tax rates. However, qualifying
See MoreUS: IRS announces 2025 inflation adjustment for carbon sequestration credit
The US Internal Revenue Service (IRS) has released the inflation adjustment factor for the carbon oxide sequestration credit under IRC section 45Q for 2025 (Notice 2025-25, IRB 2025-20). The inflation adjustment factor for calendar year 2025 is
See More
Brazil reportedly plans to offer tax breaks to attract data centres
Brazil’s Finance Minister Fernando Haddad will be heading to Silicon Valley in the US this week in a bid to lure data centres to Brazil by offering federal tax exemptions on related tech investments, according to sources familiar with the
See MoreUS: Arkansas offers tax credits for headquarters relocations and automation investments
Arkansas Governor Sarah Huckabee Sanders signed new legislation on 17 April 2025, which introduces tax incentives to attract corporate headquarters and encourage modernisation investments. Tax credits for new corporate headquarters
See More
Nigeria plans new investment incentive with multi-year tax credits
Nigeria plans to launch a new Economic Development Incentive (EDI) scheme to promote sustainable economic growth and attract investment in key sectors. The scheme targets key sectors like agriculture, manufacturing, and critical infrastructure
See MoreUS: Republican lawmakers tackle clean energy dilemma as significant investments clash with Trump’s skepticism
Republican lawmakers planning to extend US President Donald Trump's 2017 tax cuts, also known as the “Tax Cuts and Jobs Act (TCJA),” are facing a clean-energy dilemma as significant investments in their districts clash with Trump's skepticism of
See MoreItaly approves tax credit forms for simplified logistics zone investments
Italy’s tax authorities have approved the forms that qualifying enterprises must submit to claim the tax credit for investments in simplified logistics zones (ZLS) under Law Decree No. 202/2024. The regulations are detailed in Protocol No.
See More
Canada: Quebec announces tax measures in 2025-26 budget
The Canadian province Quebec's finance minister, Eric Girard, delivered the province’s 2025-26 budget on 25 March 2025. The minister unveiled a budget projecting a CAD 13.6 billion deficit, with CAD 2.2 billion allocated for debt repayment and
See More