Australia: Productivity Commission proposes corporate tax cuts amongst other tax reforms
The proposal is open for consultation and is set to conclude on 15 September 2025. Australia’s Productivity Commission has published an interim report on 31 July 2025, proposing major changes to the country’s corporate tax framework. The
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Pakistan drops digital presence proceeds tax
The DPPT was scrapped just one month after its introduction on 30 July 2025. Pakistan’s government has scrapped the digital presence proceeds tax (DPPT) on foreign entities supplying digital goods and services to Pakistan’s consumers, only a
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OECD releases updated reporting formats for global minimum tax, CARF, issues new FAQs on CARF, CRS
The OECD has released XML Schemas and User Guides to facilitate reporting and information exchange under the Global Minimum Tax and CARF. As part of ongoing efforts to enhance tax transparency and improve international tax compliance, the OECD
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Nigeria drops proposal to cut corporate tax rate to 25%
A reform in the Nigeria Tax Act removes the proposed reduction of the 30% income tax rate for large companies to 25%. Nigeria has published the Nigeria Tax Act (NTA) in the official gazette, which contains revisions that differ from the
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Korea (Rep.): Ministry of Economy and Finance proposes corporate tax hikes, AI investment incentives, QDMTT Pillar Two rules
The proposals will require approval from the National Assembly before they can enter into force. The South Korean Ministry of Economy and Finance released the 2025 tax law amendment proposal, on 31 July 2025, which includes corporate tax hikes,
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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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UK: HMRC adds Spain, Guernsey as Pillar Two recognised territories
HMRC confirms Spain and Guernsey as recognised Pillar Two jurisdictions in Notice 2 issued on 24 July 2025. The UK’s tax, payments and customs authority, His Majesty’s Revenue & Customs (HMRC) issued Notice 2 — Pillar Two top-up taxes
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US: IRS issues temporary CAMT guidance for partnerships, new rules expected
The IRS issued interim guidance on applying the Corporate Alternative Minimum Tax (CAMT) to partnerships and announced plans to revise and replace the September 2024 proposed regulations. The US Internal Revenue Service (IRS) issued Notice
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Canada: Google ends 2.5% ad surcharge following move to repeal DST
The fee, introduced on 1 October 2024, applied to Google Ads and YouTube reservations to cover compliance costs under Bill C-69, which targeted large digital companies. Google has announced that it is scrapping its 2.5% "Canada DST Fee" on
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Luxembourg approves draft laws on Pillar Two, crypto reporting
The approved draft laws transpose DAC 8 and DAC 9, introducing new crypto reporting obligations and implementing Pillar Two top-up tax information exchange, among others. Luxembourg’s Government Council approved a series of draft laws and
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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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