Belarus issues tax incentive guidelines for investments
The Belarus Ministry of Taxes and Duties issued guidance on the tax incentives for implementing investment projects in Belarus. These tax incentives will be granted based on investment agreements and special investment arrangements, specifically
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Mexico issues tax incentives for key sectors in Yucatan’s industrial zones
The Mexican government has issued a decree granting tax incentives to companies operating in 11 key economic sectors in the welfare industrial zones of Progreso I and Mérida I in the state of Yucatan on 28 June, 2024. Tax incentives are granted
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South Africa: SARS seeks feedback on SEZ income tax benefits guide
The South African Revenue Service (SARS) initiated a consultation on 5 July, 2024, regarding a draft guide aimed at clarifying income tax advantages available to qualifying companies in special economic zones (SEZs), as defined by Sections 12R and
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South Korea reportedly prepares dividend incentives to boost economic growth
In a bid to stimulate economic growth and encourage corporate investment, the South Korean government is reportedly gearing up to unveil a set of incentives aimed at boosting dividends. According to sources, the government plans to introduce a 5%
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Argentina passes tax reform bill
Argentina’s lower house of Congress (House of Representatives) approved the first tax bill requested by the new Executive Branch into law on 28 June, 2024. The outcome of the parliamentary procedures includes a moratorium tax regime for debts
See MoreArgentina approves reform bills with major investment incentives
Argentina's House of Representatives announced it approved the Law of Bases and Starting Points for the Freedom of Argentines (Ley de Bases y Puntos de Partida para la Libertad de los Argentinos) on Friday, 28 June 2024. The law introduces a new
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Australia consults tax incentives for hydrogen and critical minerals production
Australia’s government has published two consultation papers requesting comments on its proposed tax incentives on hydrogen and critical minerals production. The deadline for receiving feedback on the both is set for 12 July, 2024. Both
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Thailand unveils tax breaks to stimulate domestic tourism during off-season
In a bid to boost tourism during the traditionally slower months, Thailand's government has implemented tax incentives to encourage domestic travel. The measures were approved by the cabinet on Tuesday, 4 June, 2024. Companies organising
See MoreKorea (Rep.) to unveil detailed tax incentives for corporate reforms, semiconductor industry
South Korea's finance minister, Choi Sang-mok, announced plans of introducing detailed tax incentives as part of corporate reforms aimed at increasing the value of listed companies. The government will gather feedback from market participants in
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Bangladesh may cut tax on essential food supplies
In an effort to combat rising food prices, the Bangladeshi government is said to be considering reducing source tax on essential food commodities. This tax – currently at 2% for essential food supplies such as rice, wheat, onion, edible oil,
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Australia: ATO provides clarification on R&D tax incentive offset rates
The Australian Taxation Office (ATO) released a revised guidance providing an explanation regarding the R&D tax incentive offset rates for a qualifying entity on Tuesday, 21 May, 2024. The research and development (R&D) tax incentive
See MoreBangladesh announces tax incentives for exporters and asset managers
The Bangladesh National Board of Revenue (NBR) has announced a series of tax incentives aimed at encouraging exports and enhancing the financial sector. These initiatives, formalised through multiple notifications, provide substantial tax relief for
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US issues new guidance on domestic content bonus credit for clean energy projects
The US Department of the Treasury and Internal Revenue Service (IRS), on 16 May, 2024, released additional guidance on the Inflation Reduction Act's (IRA) domestic content bonus. This initiative is part of President Biden's economic strategy to
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Malta implements new tax measures in 2024 budget
Malta’s Budget Measures Implementation Act, 2024, is ushering in a series of amendments to various fiscal laws, including the Income Tax Act, Income Tax Management Act, Duty on Documents and Transfers Act, and Value Added Tax (VAT) Act; signalling
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Thailand announces tax and other incentives for PCB manufacturers
Thailand’s Board of Investment (BOI) declared a series of incentives for businesses engaged in the manufacture of printed circuit boards (PCBs). These incentives include: Up to eight years of exemption from corporate income tax.
See MoreAustralia: ATO announces tax incentives for hydrogen and critical minerals production
The Australian Taxation Office (ATO) published a release on the proposed Hydrogen Production and Critical Minerals Tax Incentives on Tuesday, 14 May, 2024, as part of the 2024-25 Budget. The initiative is designed to accelerate investment in
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Taiwan announces tax relief for Hualien businesses affected by earthquake
The National Taxation Bureau of the Northern Area has announced proactive measures to support businesses affected by the 3 April, 2024, Hualien earthquake. In response to the significant impact on tourism-related industries and operational
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Italy offers tax credit for investments in simplified logistics zonesÂ
Italy published Decree-Law No. 60 of 7 May 2024 in the Official Gazette on 7 May, 2024, addressing urgent provisions for the European Union's cohesion policy. This decree introduces tax credits for investments in simplified logistics zones (ZLS);
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