Ghana: GRA issues reminder on tax applicable to asset and liability gains
The notice mentions that a 25% tax applies to gains, with residents able to choose between the flat rate or regular income tax rates, while non-residents pay a final 25% tax on the gross proceeds. The Ghana Revenue Authority (GRA) has issued a
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Belgium defines fixed financial asset requirement for participation exemption
The participation exemption applies to shareholders with at least 10% ownership or investments of EUR 2.5 million, provided the latter qualify as fixed financial assets. Belgium's Ministry of Finance has released Circular 2025/C/63 on 3 October
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Chile: SII clarifies eligibility timing for special capital gains on listed shares
Ruling 1750 clarifies that capital gains from selling shares in public companies or mutual funds qualify for the Article 107 special regime only if the shares meet the stock market presence requirement at the time of sale. Chile’s tax
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Nigeria gazettes tax reform acts, updates corporate and minimum effective tax rates
The Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025, which will take effect on 1 January 2026, as well as the Nigeria Revenue Service (Establishment) Act 2025 and the Joint Revenue Board (Establishment) Act, which came into force on
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Malaysia: IRB revises capital gains tax guidance for unlisted shares
The guidelines outline the CGT treatment for gains from disposing of unlisted shares and relevant company shares. Malaysia’s Inland Revenue Board (IRB) has published the updated guidelines on capital gains tax for unlisted shares on 21 July
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Singapore: IRAS rules capital gains from property interest transfers are tax-exempt
IRAS ruled on 1 August 2025 that gains from intra-group transfer of long-held investment properties are capital and not taxable. The Inland Revenue Authority of Singapore (IRAS) released an advance ruling summary no. 16/2025 on 1 August 2025,
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US: Trump administration considers eliminating capital gains tax on home sales
Under current law, US residents can exclude up to USD 250,000 in capital gains from taxable income when selling their primary residence. US President Donald Trump announced on 22 July 2025 that his administration is considering eliminating
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Australia: ATO issues guidance on foreign capital gains withholding credits from property sales
Clients subject to the foreign resident capital gains withholding (FRCGW) are required to file a tax return to claim withheld credits, regardless of income level. The Australian Taxation Office (ATO) has issued a guidance on 18 July 2025, on
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Kazakhstan 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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Belgium: Government submits tax reform proposals to parliament, includes investment gains tax, participation exemption
Key proposals include a 5% capital gains tax, a participation exemption for group contributions, revised deductions, and revised statute of limitations rules. Belgium’s Chamber of Deputies is reviewing a draft law submitted on 3 July 2025 to
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Tanzania enacts 2025-26 budget measures, includes new transfer pricing penalty
The measures will apply from 1 July 2025, unless otherwise specified. Tanzania's Finance Act 2025 was enacted on 30 June 2025, implementing tax measures from the 2025-26 Budget Speech with some adjustments to the initially announced
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Nigeria: President approves four new tax reform bills
The new legislation comprises the Nigeria Tax Act, the Nigeria Tax Administration Act, the National Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act. Nigeria’s President Bola Tinubu has signed four major tax
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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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Uganda presents 2025–26 budget, proposes income tax exemption for start-ups
Uganda's Ministry of Finance unveiled a UGX 72.136 trillion national budget for 2025-26. Uganda’s Ministry of Finance Planning and Economic Development has unveiled a UGX 72.136 trillion national budget for the 2025-26 financial year on 12
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Czech Republic considers amendments to Income Tax Act, plans R&D tax incentive boost
The amendments propose abolishing withholding tax, removing the CZK 40 million capital gains cap, and increasing R&D allowances. The Czech Republic’s Chamber of Deputies is reviewing a draft legislation on the"Act on Single Monthly Employer
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Brazil: Government to raise tax on interest on equity in fiscal package
Brazil's Finance Ministry plans to increase the income tax on interest on equity (JCP) payments from 15% to 20% as part of a new fiscal package. Brazil's Finance Minister, Fernando Haddad, announced on 10 June 2025 that the government is
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Egypt to replace capital gains tax with stamp tax on stock transactions
Egypt's Cabinet replaces the capital gains tax on securities with a stamp tax. Egypt’s Cabinet has decided to cancel the capital gains tax on securities listed on the country’s stock exchanges on 4 June 2025. Ministers have decided to
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Philippines enacts Capital Markets Efficiency Promotion Act (CMEPA)
Philippine President Ferdinand R. Marcos, Jr. has signed the Capital Markets Efficiency Promotion Act (CMEPA) into law on 30 May 2025, which goes into force on 1 July 2025. Philippine President Ferdinand R. Marcos, Jr., has signed the Capital
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