Brazil unveils Sovereign Plan to shield exports from US tariffs
Brazil’s Sovereign Brazil Plan introduces measures including BRL 30 billion in affordable credit, extended export compliance deadlines, and increased REINTEGRA refund rates to protect exporters, preserve jobs, attract investment, and support
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Colombia: Bogota Mayor’s Office proposes major tax reform for 2025
The tax reforms are aimed at modernising the system, boosting investment, and creating jobs. Bogota’s Mayor’s Office, Colombia, submitted Project of Agreement 767 of 2025 to the District Council, proposing a major tax reform designed to
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Taiwan: MoF clarifies recovery of retained earnings tax break for assets disposed of within three years
Taiwan's finance ministry announced that tax incentives on retained earnings invested in qualifying assets will be revoked with interest if the assets are transferred, repurposed, or sold within three years. Taiwan’s Ministry of Finance (MOF)
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India: Lower house approves higher standard deductions, pension exemptions, incentives for Saudi investment funds
Lok Sabha approves Taxation Laws (Amendment) Bill 2025, proposing higher standard deductions, pension exemptions, and incentives for Saudi investment funds. The Lok Sabha, India’s Lower House of Parliament approved the Taxation Laws (Amendment)
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Italy introduces conditional IRES rate cut to reward responsible corporate growth
 The incentive is available to Italian-resident joint-stock companies, commercial entities, and permanent establishments of non-resident companies, and non-commercial entities on income from commercial activities. Italy’s Ministry of Economy
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Nigeria: Government approves R&D, local materials tax incentives
RMRDC received Federal Government approval on 2 July 2025 to implement tax incentives for R&D and the use of locally sourced raw materials. Nigeria’s Raw Materials Research and Development Council (RMRDC) has announced, on 2 July 2025, that
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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
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Greece updates tax incentives for family wealth management entities
The new law has halved the minimum annual operating expenditure for family offices from EUR 1 million to EUR 500,000, easing financial entry requirements. Greece has enacted Law 5222/2025, introducing enhanced tax incentives for Special Purpose
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Russia introduces 0% corporate tax, other incentives for International Advanced Development Territory
The law will enter into force on 1 January 2026. Russia’s State Duma approved Federal Law No. 518779-8 on 22 July 2025, amending the Tax Code to establish tax and social contribution incentives for residents of the International Advanced
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Colombia launches tax incentives for sports investments
The law allows taxpayers to fund recognised sports activities in exchange for tradable income tax credits. Colombia’s Congress has enacted Law 2490-2025, effective 17 July 2025, introducing income tax incentives for individuals and entities
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Malta gazettes 2025 audit exemption rules for startups, small companies
Malta introduces new audit exemptions for startups, micro-enterprises, and shipping companies under the Audit Exemption Rules 2025. Malta has gazetted Legal Notice No. 139 of 2025 on 15 July 2025, enacting the audit exemption rules
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Poland: President approves law to ease corporate income tax rules
The new law removes certain tax exemptions tied to SEZ permits, eliminates annual reporting for general partnerships, and lifts penalties affecting corporate tax group status for related-party transactions. Poland’s President has signed a law
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Panama withdraws extended deadlines for tax treaty claim corrections
The new resolution only allows a 10-day extension, with the possibility of extending it up to 30 days. Panama published Resolution No. 201-5822 on 16 July 2025, in Official Gazette No. 30323, repealing Resolution No. 201-2232 of 16 March
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Germany gazettes law to boost business competitiveness, R&D changes to enter into force next year
Germany has enacted a new investment programme law to enhance its appeal as a competitive business location, with most provisions effective from 19 July 2025 and R&D measures applying from 2026. Germany has published the Act (BGBl. I) in the
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Lithuania: Parliament reviews investment incentive for select municipalities
Lithuania plans to reduce taxable profit for companies investing in designated municipalities, allowing up to a 100% deduction on eligible fixed asset costs from 2026. The Lithuanian parliament (Seimas) is reviewing a draft bill proposing a
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Kyrgyzstan establishes 49-year tax-exempt special financial and investment zone
The territory aims to attract investment by offering income tax exemption to residents and permitting activities such as asset management, fintech, banking, Islamic finance, insurance, tourism, and other commercial ventures. Kyrgyzstan's
See MoreGermany: Federal Council approves EUR 46 billion corporate tax relief planÂ
The law will be published in the Official Gazette and take effect the following day, except for R&D allowance amendments, which will come into effect on 1 January 2026. Germany’s Federal Council (Upper House of Parliament/Bundesrat) has
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Kenya repeals digital assets tax, expands economic presence tax under Finance Act 2025
The Finance Act 2025 introduces a 10% excise duty on virtual asset transaction fees, expanded SEP tax, a 5-year loss carry forward limit, AMT, and new APA guidelines. Kenya’s President William Ruto signed the Finance Act 2025 into law on 26
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