Kenya presents 2025 Finance Bill, aims to reduce cost of living
Kenya's Cabinet Secretary for National Treasury and Economic Planning, John Mbad,i has presented the Finance Bill 2025 before the National Assembly on 30 April 2025. The government says it has not introduced any new taxes in the Finance Bill
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Finland: Government approves 2026–29 fiscal plan, introduces corporate tax cut and extended loss carryforward
Finland's Ministry of Finance has announced that the Government has approved the General Government Fiscal Plan for 2026–2029 on 23 April 2025. The decisions aim to strengthen the foundation for economic growth while prioritising the security of
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Chile halts corporate tax cut, advances support for small businesses and tourism
Chile's Ministry of Finance released a statement on the first meeting of the High-Level Council for Strategic International Economic and Financial Policy, led by President Gabriel Boric. The release noted that income tax reform plans, including a
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Canada: Prince Edward Island announces 2025-26 budget, includes corporate tax cuts
The Canadian province of Prince Edward Island presented the 2025-26 Operating Budget to the legislative assembly on 10 April 2025. The province’s 2025-26 budget includes CAD 294.6 million in new spending, bringing total expenditure to over CAD
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US: Georgia speeds up corporate tax rate cuts
The US state of Georgia Governor Brian P. Kemp signed the House Bill (HB) 111 into law on 15 April 2025, expediting the planned reduction of the corporate and individual income tax. The individual income tax rate cut was established by HB 1437 in
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Malawi: Parliament passes 2025-26 budget with corporate tax cut for permanent establishments
Malawi's Parliament approved the 2025-26 Budget on 26 March 2025, with several tax measures. The 2025-26 budget is estimated at MWK 8.08 trillion. The initial estimated MWK 8.5 trillion budget was adjusted before final approval. The main tax
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Germany: Coalition government to lower corporate tax rate amongst other policy changes
Germany’s new coalition government, formed by the conservative alliance led by Friedrich Merz and the centre-left Social Democrats (SPD), announced a set of tax measures on 9 April 2025 as part of their policy agreement. The measures include a
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US: Utah reduces corporate franchise tax rates
The Governor of Utah, Spencer Cox, signed House Bill (HB) 106 on 26 March 2025, cutting corporate franchise tax rates to 4.50% from 4.55% for taxable years starting on or after 1 January 2025. The USD 100 minimum tax remains
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Namibia announces tax proposals in 2025-26 budget
Namibia’s Ministry of Finance unveiled the 2025-26 budget on 27 March 2025, outlining several tax proposals, including corporate tax reductions, VAT changes, and higher excise duties. Namibia’s national budget has risen to NAD 106.3 billion,
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Malawi announces 2025-26 budget, cuts corporate tax for non-resident firms
Malawi's Minister of Finance Simplex Chithyola Band presented the 2025-26 Budget Statement on 28 February 2025. The budget, totaling MWK 8 trillion, aims to stabilise the economy in the face of sluggish GDP growth, soaring inflation, and mounting
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UK: HMRC reduces interest rates for late payments, overpayments
The UK's tax authority, His Majesty's Revenue and Customs (HMRC), has announced a reduction in interest rates for late payments and overpayments of taxes: The new rates are 7% for late payments and 3.5% for overpayments. This development follows
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Japan: MOF presents tax reform bill to parliament
Japan's Ministry of Finance has released the legislative proposals submitted during the 217th session of the National Diet (parliament) – which includes the draft tax reform bill for 2025 and related materials – on 4 February 2025. The key
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Slovak Republic: Parliament considers corporate tax rate cuts, extension of loss carryforward period
The Slovak Parliament is reviewing proposed bills to lower corporate tax rates and extension of the loss carryforward limit in the country. One of the draft bills advocate reducing the corporate tax rate to 16% from the standard rate of 21% and
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Chile to cut SME tax rates from 2025 to 2028
Chile's Chamber of Deputies is reviewing a proposal from 22 January 2025 to temporarily reduce the corporate tax rate for qualifying SMEs under the Pro Pyme regime. The proposal includes a 12.5% rate for 2025–2027 and 15% for 2028. Earlier,
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Thailand: Cabinet approves lower corporate tax for special economic zones
Thailand's cabinet has approved a proposal to reduce the corporate income tax rate to 10% for profits generated by targeted businesses in the country's special economic zones. The reduced rate applies for 10 consecutive accounting periods. To
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Portugal gazettes Budget Law for 2025, reduces corporate tax rate
Portugal’s Official Gazette published Law No. 45-A/2023 on 31 December 2024, which approves the Budget for 2025. Effective from 1 January 2025, the standard corporate tax rate decreased from 21% to 20%, and reduced the rate for SMEs on the first
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Algeria gazettes Finance Law 2025, introduces amendments to CIT and VAT
Algeria’s Ministry of Finance published the Finance Law 2025 in the Official Gazette on 26 December 2024, providing amendments for corporate taxation and VAT amongst various direct and indirect taxation policies. Corporate income tax The
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Russia introduces reduced corporate income tax rate for electronics manufacturers
Russian companies manufacturing equipment for electronic components and radio-electronic products will benefit from a reduced 8% corporate income tax rate starting 1 January 2025. This tax incentive is part of government Resolution No. 1848,
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