UK: HMRC introduces tool to determine qualifying R&D activities for tax relief
The tool is designed to check R&D tax relief for eligible projects. The UK’s HM Revenue and Customs (HMRC) issued guidance on 30 September 2025 introducing an online tool designed to help taxpayers assess whether a project contains
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Uzbekistan: President announces tax incentives for legal firms
From 1 January 2026, legal entities switching from turnover tax to VAT for the first time will receive a 1-year corporate tax exemption, a 1-year waiver of VAT registration penalties, and a six-month deduction on accounting
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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
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Armenia introduces tax incentives for the tech sector
Armenia’s National Assembly has passed legislation introducing support measures and tax incentives aimed at advancing programs in the high-tech sector on 4 December 2024. These laws were presented by Minister of High-Tech Industry Mkhitar
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US Congress revives bill to end tax incentives for outsourcing
US Senator Sheldon Whitehouse (D-RI) and Congressman Lloyd Doggett (D-TX) reintroduced the No Tax Breaks for Outsourcing Act on 5 February 2025. First introduced in 2018, this legislation would end tax incentives created during the first Trump
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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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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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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
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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
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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
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Malaysia unveils tax incentives for Forest City special financial zone
Malaysia’s Deputy Finance Minister Amir Hamzah Azizan introduced proposed tax incentives during the announcement ceremony for the Forest City Special Financial Zone (SFZ) on 20 September 2024. The Forest City is situated within the Iskandar
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Argentina introduces regulations to incentivise large investments
Argentina’s Executive Branch, through Decree 749/2024, has approved regulations under the RIGI - the Incentive Regime for Large Investments, as outlined in Law 27,742, on 23 August 2024. The RIGI regime aims to generate the conditions of
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Malaysia releases new reinvestment incentive guidelines under new industrial master plan 2030
The Malaysian Investment Development Authority (MIDA) has released guidelines for applying the new reinvestment incentive introduced in Budget 2024 on 30 July 2024. This initiative is aimed at existing manufacturing and agricultural companies that
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Korea proposes 2024 tax law overhaul to boost economy
The Ministry of Economy and Finance of South Korea (ROK) introduced its proposed 2024 Tax Law Amendment Bill on 25 July 2024, aiming to encourage economic activity and enhance the overall health of the public economy. “This year's tax revision
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Argentina 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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Malaysia announces digital tax incentive scheme
On 31 May 2024, the Malaysia Digital Economy Corporation (MDEC), with the support of the Ministry of Digital (KD) and the Ministry of Finance (MOF), introduced an innovative tax incentive scheme for Malaysia Digital (MD) companies: the Malaysia
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UK: HMRC extends tax relief for freeports and investment zones
Her Majesty's Revenue and Customs (HMRC) released a policy note on 30 April, 2024, regarding the extension of tax relief availability for freeport and investment zone special tax sites, extending it from 5 to 10 years. The UK tax authority (HM
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