Poland announces 2025 investment incentives, thresholds for reduced corporate tax and VAT
Poland has announced new thresholds for various tax regimes for small taxpayers in 2025. These include a reduced corporate tax rate, an investment incentive deduction, a simplified VAT regime, and a flat-rate tax. The new thresholds for reduced
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IMF: Labour Market Participation in Latin America
On 25 October 2024 the IMF launched the latest Regional Economic Outlook for the Western Hemisphere. A background paper to the report with the title Closing the Gap: Labor Market Participation in Latin America examined ways to increase labour force
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UK announces 2024 autumn budget
The UK autumn budget announcements were delivered today, 30 October 2024. Corporation tax The main rate of corporation tax will stay at 25% until the next election. National insurance National Insurance contributions for employers is to
See MoreIMF Working Paper: Advancing Labour Market Reforms in Korea
An IMF Working Paper of 23 August 2024 written by Stella Tam and Xin Cindy Xu looks at ways of advancing labour market reforms in Korea. The study looks at the structural challenges for the labour market in Korea and assesses the macroeconomic
See MoreIMF Report on Latvia Makes Tax Recommendations
On 5 September 2024 the IMF issued a report following discussions with Latvia under Article IV of the IMF’s articles of agreement. Following recovery from the pandemic, Latvia’s economic growth contracted by 0.3% in 2023, with tighter
See MoreOECD: Economic Survey of Malaysia
On 27 August 2024 the OECD published its latest Economic Survey of Malaysia. The survey notes that Malaysia’s economy has grown significantly since the 1960s, with a higher per capita income than other countries in the region. Malaysia is
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Thailand to boost stock market with tax breaks and reduced lock-upsÂ
Thailand is planning to increase the tax allowance and reduce lock-up periods for environmental, social, and governance (ESG)--focused fund holders in an effort to strengthen the local equity market. Individual investments up to THB 300,000 (USD
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OECD: Taxing Wages 2024
On 25 April 2024 the OECD released Taxing Wages 2024. The publication gives cross-country comparisons of labour costs and the overall tax and benefit position in the OECD countries. The study analyses the income tax paid by employees, the cash
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South Africa offers tax relief for new solar panels up to 25% back
On 8 March 2024, the South African Revenue Service (SARS) released guide for claiming this benefit under the new Section 6C of the Income Tax Act. South African residents can now claim a tax credit for installing brand new solar panels on their
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UK: Spring Budget Date Announced
The UK’s spring budget announcements will be delivered on 6 March 2024. There has been speculation that tax cuts will be a priority in the budget, as the tax burden in the UK is at a high point and a general election is due within a year.
See MoreUK: Statistics on Venture Capital Trusts
On 24 January 2024 the UK released statistics on Venture Capital Trust (VCT) tax relief for the year 2021/2022. The VCT scheme is one of three tax-based venture capital schemes available to investors in the UK, together with the Enterprise
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Malta issues news guidelines on tax incentives for investment services and insurance expats
On 22 January 2024, Malta’s Commissioner for Revenue released the updated guideline regarding the tax benefits available to investment services and insurance expatriates under Article 6 of the Income Tax Act. The objective of the tax benefits of
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South Korea: MOEF announce tax reform proposal for 2023
On 27 July 2023, South Korea’s Ministry of Economy and Finance (MOEF) announced the tax reform proposal for 2023. The tax reform proposal includes changes in the Korean Pillar two global minimum tax rules and transfer pricing compliance
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IMF Report looks at Luxembourg’s Economy
On 10 March 2023 the IMF issued a report following consultations with Luxembourg under Article IV of the IMF’s articles of agreement. Luxembourg’s economy has recovered well from the pandemic despite the external challenges in 2022, although
See MoreUK: Statistics on Venture Capital Trusts
On 26 January 2023 the UK released statistics on Venture Capital Trust (VCT) tax relief for the year 2021/2022. By monitoring investments through the collection of relevant statistics the UK government can better assess the effectiveness of the
See MoreIMF Report Considers Austria’s Economic Situation
On 13 June 2022 the IMF published a report following discussions with Austria under Article IV of the IMF’s articles of agreement. Although Austria’s economy was seriously impacted by the pandemic, partly due to the size of the tourism
See MoreUK: Statistics for Investments under the EIS, SEIS and SITR
On 5 May 2022 the UK government published statistics for the Enterprise Investment Scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR). These latest statistics show the amount of funds raised by
See MoreCanada: Bill-19 receives its first reading to implement some measures of Budget 2022
On 28 April 2022, Bill C-19, introduced by the Deputy Prime Minister and Minister of Finance, was received its first reading for implementing some measures of Budget 2022. Some highlighting points are given below: Government banned foreign
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