New Zealand introduces 2025–26 tax changes on foreign income, GST, electricity sales
New Zealand introduces 2025–26 tax updates, including foreign investment income, GST, employee share schemes, and new exemptions. New Zealand Inland Revenue announced the introduction of the bill Taxation (Annual Rates for 2025–26, Compliance
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Poland: President rejects bill to ease fiscal offence penalties
The government’s deregulation package, vetoed by the President, would have cut maximum fines for tax offences from PLN 44.8 million to PLN 29.9 million and from PLN 14.9 million to PLN 7.5 million. Poland’s President Karol Nawrocki
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Uruguay launches new investment incentives, prioritises R&D+i amongst others projects
Uruguay unveils investment promotion package with tax incentives, streamlined procedures, and support for SMEs, large projects, tech, and housing. The Ministry of Economy and Finance announced on Monday, 18 August 2025 a package of measures aimed
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Romania: MoF issues draft ordinance, proposes amendments to global minimum tax rules and direct taxes outlined in Fiscal Code
The Ministry of Finance has proposed legislative amendments to the Pillar Two global minimum tax and corporate income tax in the Fiscal Code. Romania’s Ministry of Finance has recently introduced two legislative amendments: one proposes
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Australia gazettes Taxation (Multinational-Global, Domestic Minimum Tax, Qualified Globe Taxes) Determination 2025 legislative instrument
The legislative instrument takes effect on 27 August 2025 and remains applicable until 1 April 2035. The Australian Official Gazette has published a legislative instrument “Taxation (Multinational-Global and Domestic Minimum Tax) (Qualified
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Malaysia: MoF prolongs tax deduction for sustainable investment-linked sukuk until 2027
The special tax deduction extension for Labuan companies applies from the year of assessment (YA) 2024 to YA 2027, as announced in the 2024 budget. Malaysia’s Ministry of Finance has extended the special tax deduction for companies or Labuan
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Panama: DGI extends deadline for taxpayer registry
The deadline for updating the taxpayer registry information has been extended due to technological disruptions. Panama’s tax authority (DGI) has published Resolution 201-6695 of 12 August 2025 in Official Gazette No. 30348 of 21 August 2025,
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Argentina extends deadline for PAIS tax refund requests
This extension applies to the filing of affidavits for refunds of advance payments of the Impuesto Para una Argentina Inclusiva y Solidaria (PAIS), in the situations outlined in Resolution No. 5720. Argentina’s Customs Collection and Control
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Canada consults draft tax legislation, includes several previously announced measures including amendments to global minimum tax Act
The government invites all interested Canadians and stakeholders to provide feedback on these draft legislative proposals by emailing their comments to consultation-legislation@fin.gc.ca by 12 September 2025. Canada’s Department of Finance
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Chile: SII clarifies thin capitalisation exemption for financial entities
The tax administration clarified that to be exempt from thin capitalisation rules, an entity must engage solely in financial activities (with limited complementary activities), certain assets are excluded from the 90% threshold, and the commercial
See MorePoland: MoF to increase corporate tax rate for banks
The changes are set to take effect on 1 January 2026. Poland’s Ministry of Finance has announced plans on 21 August 2025 to adjust the corporate income tax rate for banks, with a target rate of 23% starting in 2028, up from the current
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US: IRS announces unchanged interest rates, tax underpayments and overpayments for Q4 2025
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. The US Internal Revenue Service (IRS) released IR-2025-87 on 25 August 2025, in which it announced that interest rates will remain the same for the calendar
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Germany publishes prescribed data set for Pillar Two GloBE information returns
Germany has issued the official XML data set and schema for filing minimum tax reports under Pillar Two from fiscal years starting after 30 December 2023. Germany’s Ministry of Finance has released the officially prescribed data set and schema
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Turkey sets real estate tax construction costs for 2026
Turkey has set standard construction costs to calculate real estate tax for 2026. Turkey has published General Communiqué No. 87 on Real Estate Tax Law in the Official Gazette on 9 August 2025, setting standard construction costs per square
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Turkey issues draft on R&D tax exemptions
Turkey has clarified the new rules for income tax on R&D wage exemptions and related incentives. Turkey released a draft Communiqué on Income Tax on 20 August 2025, clarifying amendments under Law No. 7555 to the Technology Development
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Pakistan issues income tax return notifications for 2025
FBR issues electronic income tax return forms for the 2025 tax year with filing deadlines set for individuals and companies. Pakistan’s Federal Board of Revenue (FBR) on 18 August 2025 issued Notification (Income Tax) S.R.O. 1561(I)/2025 and
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OECD endorses Brazil’s additional CSLL under Pillar Two as a QDMTT
The OECD has recognised Brazil’s additional social contribution on net profits (CSLL) as a qualified domestic minimum top-up tax (QDMTT) meeting the safe harbour criteria. The OECD officially recognised Brazil’s additional social
See MoreTurkey: Government consults scope, application of the reduced corporate tax regime
Turkey has initiated a public consultation on the scope and application of the reduced corporate income tax regime for investments made under an investment incentive certificate issued by the Ministry of Industry and Technology. Turkey’s
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