IMF Working Paper: Is Tax Policy Supporting a Costly Industrial Policy in Mozambique
An IMF working paper written by Santos Bila, Utkarsh Kumar and Alexis Meyer-Cirkel with the title Is Tax Policy Costly Industrial Policy in Mozambique? Finds that tax advantages do not compensate for shortcomings in economic conditions. The
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Mexico offers incentives for investments which promote innovation
Mexico has published a Decree in the Official Gazette on 21 January 2025, granting tax incentives to support the national strategy called "Plan Mexico” to promote innovation and new investments that encourage dual training programmes. One key
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Australia: ATO announces new incentives for build-to-rent projects
The Australian Taxation Office has released a notice detailing new incentives for build-to-rent developments to increase the supply of housing and provide certainty for owners and investors on 13 January 2025. The incentives Faster
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Portugal introduces tax incentive for research and innovation
Portugal has published Ordinance No. 352/2024/1 23 December 2024, which regulates the tax incentive for scientific research and innovation (IFICI) included in the 2024 Budget Law. The Ordinance entered into force on 24 December 2024. The
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South Africa introduces tax incentive for electric, hydrogen vehicle production
The South African Revenue Service has released the Taxation Laws Amendment Act 2024 which introduces a new investment allowance for automotive companies investing in the production capacity for electric and hydrogen-powered vehicles in the
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Germany details incentives for energy-efficient building renovations
Germany’s Federal Ministry of Finance (BMF) has updated its letter on 23 December 2024 regarding tax relief for energy-related measures in residential buildings to include a uniform certificate for all eligible measures. The German Income Tax
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Japan: Cabinet approves Resolution for 2025 Tax Reform Outline, extends reduced corporation tax for SMEs
The Japanese approved the extension of the duration of the reduced corporation tax for small and medium-sized enterprises (SMEs) by an additional two years on 27 December 2024, as part of the resolution regarding the 2025 Tax Reform Outline. The
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Poland announces exemption from electronic submission of asset data
Poland’s Minister of Finance issued a regulation exempting most taxpayers (except those under Article 9(1d) of the corporate income tax law of 15 February 1992) from having to electronically submit fixed asset and intangible asset records for tax
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Nigeria proposes new tax incentives for oil and gas industry
The Nigerian Oil and Gas Industry Content Development (NOGICD) Bill, 2023 has been presented before the National Assembly which introduces tax law changes and new incentives to promote Nigeria’s oil and gas sector. The key measures include a
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Canada updates Scientific Research and Experimental Development Tax (SR&ED) incentive in 2024 fall economic statement
Canada's Department of Finance has released the 2024 Fall Economic Statement on 16 December 2024. Among the key updates are enhancements to the Scientific Research and Experimental Development (SR&ED) tax incentive programme and more support for
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Australia: ATO alerts against circular financing for early-stage investor tax offsets
The Australian Taxation Office (ATO) has issued a new taxpayer alert regarding arrangements involving circular financing linked to early-stage investor tax offsets. This taxpayer alert (TA 2024/1) was issued in response to a new tax avoidance
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UAE to introduce Pillar Two minimum tax rules, tax incentives from January 2025
The UAE Ministry of Finance has announced that it has updated certain provisions of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses on 9 December 2024. These amendments include introduction of a Domestic Minimum
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South Africa: SARS clarifies tax allowances, deductions for renewable energy generation assets
The South African Revenue Service (SARS) has released a guide “Guideline on the on Allowances and Deductions Relating to Assets Used in Generation of Electricity from Specified Sources of Renewable Energy” on 23 November 2024. It provides
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Hong Kong consults tax breaks for asset, wealth management
The Hong Kong SAR (HKSAR) government released a consultation paper to selected stakeholders, seeking their feedback on proposed improvements to the preferential tax regimes. These enhancements focus on funds, family-owned investment holding vehicles
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Poland announces 2025 investment incentives, thresholds for reduced corporate tax and VAT
Poland has announced new thresholds for various tax regimes for small taxpayers in 2025. These include a reduced corporate tax rate, an investment incentive deduction, a simplified VAT regime, and a flat-rate tax. The new thresholds for reduced
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Australia proposes tax breaks for hydrogen, critical minerals production
Australia’s government has presented the “Future Made in Australia (Production Tax Credit and Other Measures) Bill 2024’ to Parliament” , proposing tax incentives on hydrogen and critical minerals production. This follows after the
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Uruguay introduces tax incentives for telecom companies for electronic surveillance services
Uruguay issued Decree No. 281/024, on 31 October 2024, which aims to promote electronic surveillance services provided by telecommunication companies for criminal investigations. The decree, based on Law No. 16.906, supports these companies by
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Mexico introduces several tax incentive with economic package 2025
Mexico’s Federal Executive submitted the 2025 economic package to the Congress of the Union on 15 November 2024. This package does not include new taxes or increases to existing ones but adjustments to tax incentives and withholding taxes on
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