Romania announces 2025–28 tax reforms, raises dividend tax
The proposed tax reforms target increased taxes on dividends, reduced incentives, stricter expense deductions, and simplified VAT rates. Romania published its decision approving the 2025-2028 Government Programme in the Official Gazette on 23
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Hong Kong releases illustrative examples for patent box regime
The patent box regime introduces a 5% concessionary tax rate, significantly lower than Hong Kong's standard 16.5% profits tax rate. The Hong Kong Inland Revenue Department (IRD) has released illustrative examples for the patent box regime. The
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Thailand introduces reduced corporate income tax rate to promote SEZ investments
Thailand cuts corporate tax rate to 10% for qualifying businesses in Special Economic Zones for ten years under Royal Decree No. 797 starting 6 June 2025. The Thai Revenue Department has issued Royal Decree No. 797, dated 2 June 2025 and
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Kenya: National Treasury publishes budget statement 2025-26, reduces corporate and digital tax rates
Kenya's National Treasury has released the 2025-26 Budget Statement on 12 June 2025. Kenya's National Treasury published the 2025-26 Budget Statement on 12 June 2025, outlining key tax measures aligning with proposals highlighted in the 2025
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Bangladesh: Interim Government announces 2025-26 national budget
The government’s growth forecast of 5.5% falls below the IMF’s estimate, signalling a shift away from chasing ambitious GDP targets and mega projects. The budget is set at BDT 7,90,000 crore, with a revenue budget of BDT 5,74,000
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Sweden: Ministry of Finance announces tax proposals for Autumn Budget 2026, includes reduced corporate tax
Sweden's Ministry of Finance announced various tax proposals for the 2026 Autumn Budget on 19 May 2025. It includes reduced corporate tax, energy tax on electricity, special income tax for non-residents, amongst others. Reduced corporate
See MoreKenya 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
See MoreUS: 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,
See MoreMalawi 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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