New Zealand introduces tax policy work programme
New Zealand’s Minister of Revenue has introduced a tax policy work programme on 13 November 2024, which aims to simplify tax and reduce compliance costs, address integrity risks, and improve fiscal sustainability to rebuild the economy. The
See More
Malaysia updates green tech tax incentives for businesses, solar leasing
The Malaysian government is taking a strong stance on renewable energy targets, increasing the share of renewable energy in the electricity generation capacity mix to 70% by 2050; in line with Malaysia’s aspiration to be an inclusive, sustainable,
See More
South Africa: National Treasury consults urban development zone tax incentive
The National Treasury of South Africa has invited interested parties to participate in the urban development zone (UDZ) tax incentive online survey on 6 November 2024. The consultation is set to conclude on 29 November 2024. The objective of
See More
Greece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025 on 5 November 2024. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and
See More
Philippines reduces corporate income tax rates, provides additional fiscal incentives for qualifying companies
Philippine President Ferdinand Marcos Jr. enacted the law “Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act” on 11 November 2024, reducing corporate income tax rates
See More
Indonesia extends tax holiday for key industries, adapts global minimum tax
Indonesia has issued Regulation No. 69 of 2024, extending the tax holiday incentives for pioneer industries as outlined in Regulation No. 130/PMK.010/2020. Regulation No. 130/PMK.010/2020 replaces Regulation No. 150/PMK.010/2018 and extends
See More
Malaysia implements new rules for higher capital allowance for ICT equipment, software
Malaysia Ministry of Finance published two regulations in the Official Gazette on 30 October 2024 – the Income Tax (Accelerated Capital Allowance) (Information and Communication Technology Equipment) Rules 2024 and the Income Tax (Capital
See More
Philippines offers tax incentives to British investors under CREATE Act
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
See More
Argentina sets tax and customs benefits for new large investment incentive regime
Argentina’s tax authority, ARCA (formerly AFIP), announced General Resolution 5590/2024 on 23 October 2024, which outlines the application of tax and customs benefits under the new Special Incentive Scheme for Large Investments (Régimen de
See More
Brazil grants tax exemption for countries with major investments
Brazil now allows countries to seek exclusion from being classified as offering favorable taxation or a privileged tax regime if they make significant investments in Brazil, helping national development, starting 18 October 2024, issued in Decree
See More
South Africa considers incentivising local manufacturing of electric and hybrid vehicles
South African President, Cyril Ramaphosa, announced that he is considering the introduction of tax rebates or subsidies to encourage local manufacture of electric and hybrid vehicles on Thursday, 17 October 2024. "Consideration must be given to
See More
Egypt unveils tax incentives to simplify compliance, boost economic growth
Egypt’s Minister of Finance, Ahmed Kouchouk, during a press conference, unveiled a new package of tax incentives in an attempt to simplify tax procedures and enhance economic productivity on Wednesday, 11 September 2024. The incentives include
See More
El Salvador releases guide on preferential jurisdiction recognition
El Salvador’s tax administration issued a guidance aimed at assisting taxpayers in identifying jurisdictions that offer preferential tax regimes with minimal or no taxation, ensuring the correct application of El Salvador’s taxation provisions,
See More
Malaysia: 2025 budget unveils dividend tax, new tax incentives, sales and service tax changes
Malaysia announced its 2025 Budget on 18 October 2024 with various tax measures. Dividend tax Starting from the year of assessment 2025, a 2% dividend tax will be applied to the annual chargeable dividend income of individuals exceeding MYR
See More
UN Tax Committee: Issues in Extractive Industries Taxation
On 15 October 2024 the UN Tax Committee discussed developments in their work on extractive industries taxation. The work of the relevant subcommittee has focused on the energy transition; the valuation of mining products for tax purposes; and tax
See More
Poland to introduce cash grants amid potential impact of Pillar Two on investment zone incentives
Poland's Ministry of Development and Technology (MRiT) announced plans to reform the country's incentives system by introducing cash grants linked to investment profitability. The cash grant incentive regime aims to maintain Poland's
See More
Mexico publishes guidance for tax incentives for key sectors in Yucatan’s industrial zones
The Mexican government has published guidelines for granting tax incentives to taxpayers engaged in productive economic activities within the Progreso I and Mérida I industrial welfare zones (industrial parks) in Yucatán state on 26 September
See More
Dominican Republic consults repeal of tax exemptions on financial transactions
The Dominican Republic’s Directorate General of Internal Revenue has introduced an online consultation forum regarding the proposed rule to repeal the previous administrative exemption granted to specific sectors about the 0.15% excise tax on
See More