Czech Republic: Senate approves amendments to align Pillar Two top-up tax with OECD standards
The Pillar Two top-up tax amendments update legislation to align with OECD Pillar Two administrative guidance, focusing on safe harbours and related provisions. The Czech Republic Senate has approved amendments to the Bill Amending the Accounting
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UK: HMRC consults tax measures proposed in Finance Bill 2025-26
HMRC opened a consultation on 21 July 2025 on draft measures for the Finance Bill 2025–2026, covering tax reforms, digitalisation, and anti-avoidance, with feedback due by 15 September 2025. The UK’s HM Revenue and Customs (HMRC) has
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Turkey caps tax incentives, R&D exemptions under new law
Turkey’s Law No. 7555 limits corporate income tax incentives to 10 years and caps R&D income tax exemptions starting July 2025. Turkey enacted Law No. 7555 introducing new limits on corporate tax incentives and income tax exemptions. The
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UK HMRC updates top-up tax rules to align with 2025 OECD guidance
UK updates top-up tax rules to align with OECD Pillar Two guidance, effective mostly from 31 December 2025. UK HMRC has released a policy paper on 21 July 2025 outlining additional changes to the Multinational Top-up Tax and the Domestic Top-up
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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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Angola: Financial sector to face higher corporate tax from 2026
Angola's new Corporate Income Tax Code, effective 1 January 2026, includes 35% for financial institutions, insurance, and telecoms, 25% for most sectors, and 10% for agriculture. Angola will introduce a new Corporate Income Tax (IRPC) Code,
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Kazakhstan adopts new tax code, introduces additional R&D tax deduction to 200%
The Tax Code, effective 1 January 2026, introduces a standard CIT rate of 20%, adjusted CIT rates for various sectors, a VAT increase from 12% to 16%, with various exemptions. Kazakhstan has introduced a new Tax Code, as per Law No. 214-VIII,
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Malawi lowers tax for select non-resident companies
The Malawi government has abolished the 5% repatriation tax for non-resident companies, increased withholding tax on gambling winnings to 10%, and exempted bread from the 16.5% VAT. Malawi has implemented new tax laws through the Taxation
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Zambia advances 2025 tax reform, proposes 1% minimum alternative tax for businesses
Key proposals include a 1% MAT on turnover, 15% to 20% withholding tax on government securities, and excise duty hikes on cigarettes, alcohol, sugary drinks, and betting services. Zambia's National Assembly has advanced the Income Tax
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Pakistan exempts Google from new digital tax, confirms resident status
The FBR has clarified that the Digital Presence Proceeds Tax does not apply to Google because it has maintained a branch office in Pakistan and is considered a tax resident under domestic tax laws. The Federal Board of Revenue (FBR) of Pakistan
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G20 finance ministers, central bank governors commit to ongoing discussions on Pillar Two global minimum tax concerns
They expressed their commitment to continuing constructive engagement to address concerns surrounding the Pillar Two global minimum taxes. The G20 Finance Ministers and Central Bank Governors issued a Communique following their meeting held on
See MoreKazakhstan introduces 10% corporate tax on select income
Law No. 208-VIII ZRK is effective from 1 January 2025. Kazakhstan has introduced a new 10% corporate tax rate for certain incomes under Law No. 208-VIII ZRK, signed by the President on 15 July 2025 and published on 16 July 2025. The rate
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Kuwait launches online registration service for multinational entities subject to DMTT
Kuwait’s Ministry of Finance has launched an online registration service for companies subject to the 15% Domestic Minimum Top-up Tax under Law No. (157) of 2024, effective from 1 January 2025. Kuwait’s Ministry of Finance has launched a new
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Australia: ATO issues draft guidance on Pillar Two filings
The consultation period for the draft guidance closes on 29 August 2025. The Australian Taxation Office (ATO) has issued draft guidance, PCG 2025/D3, on 16 July 2025 detailing its transitional approach to Pillar Two filing obligations. This
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OECD reports to G20 on tax transparency and global minimum tax
The OECD has released the Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors, and Taking Stock of Progress on Transparency and Exchange of Information for Tax Purpose,s ahead of the G20 meeting held from 17 to 18 July
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Italy: Council of Ministers approves additional supplementary and corrective amendments to tax reform
The bill simplifies regulations, enhances transparency and fairness, revises the Taxpayer's Bill of Rights, and clarifies the self-assessment process with added sanctions. Italy’s Council of Ministers has preliminarily approved a Legislative
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Chile extends reduced tax rate for qualifying SMEs until 2028
The new law extends the reduced 12.5% rate through 2025-2027, with a 15% rate starting in 2028. Chile published Law No. 21755 in the Official Gazette on 11 July 2025, extending the temporary reduced corporate tax rate for qualifying SMEs under
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Argentina introduces special refund process for PAIS tax overpayments by importers
The first instalment will be available on 8 September 2025. Argentina’s tax authority (ARCA) introduced a special procedure for importers on 7 July 2025, allowing them to claim refunds for overpaid PAIS tax, which expired on 22 December
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