World Bank: Survey of Corporate Tax Incentives for Green Growth
A World Bank blog published on 13 February 2025, written by Hania Kronfol, Eduardo Antonio and Jimenez Sandoval, assesses the use of corporate tax incentives to encourage environmentally friendly investment. The blog refers to a World Bank
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IMF: Revenue and Spending Measures for Developing Countries to Reduce Debt Levels
An IMF Public Finance Management (PFM) Blog, written by Talal Rafi (a Director at EY Sri Lanka) and published on 27 January 2025, looked at the measures developing countries can take to reduce public debt levels. The author notes that more than 3
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IMF Report Makes Tax Policy Recommendations for Japan
On 7 February 2025 the IMF published a report following discussions with Japan under Article IV of the IMF’s articles of agreement. The report notes that Japan’s economy contracted in the first half of 2024 as a result of temporary supply
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Slovak Republic: Parliament approves bill revising motor vehicle taxes
The Slovak Republic’s Parliament has passed a legislation amending the motor vehicle tax law on 27 November 2024. The changes include reduced annual tax rates for vehicles exceeding 3.5 tons and a unified approach to adjusting tax rates based
See MoreWTO Working Paper: Continuing Significance of MFN Trading Terms
A WTO working paper of 15 January 2025, written by Tomasz Gonciarz and Thomas Verbeet, has the title Significance of most-favoured-nation terms in global trade: A comprehensive analysis. Under the WTO's MFN trading principle, member countries of
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IMF Working Paper: Is Tax Policy Supporting a Costly Industrial Policy in Mozambique
An IMF working paper written by Santos Bila, Utkarsh Kumar and Alexis Meyer-Cirkel with the title Is Tax Policy Costly Industrial Policy in Mozambique? Finds that tax advantages do not compensate for shortcomings in economic conditions. The
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IMF Working Paper: Strengthening Tax Governance Through Legal Design
An IMF working paper of 17 January 2025 written by L. Sofrona, C. Waerzeggers and B. Crowley with the title Strengthening Tax Governance Through Legal Design looks at tax governance in tax administration and how this can be strengthened. The
See MoreWorld Bank: Global Economic Prospects
The World Bank report Global Economic Prospects was issued in January 2025. The report notes that global growth is projected to remain steady at 2.7% in 2025/26, but this relatively low growth rate will not be sufficient to promote sustained
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IMF: Briefing on the World Economic Outlook
In the briefing on the latest World Economic Outlook on 17 January 2024, the Director of the IMF’s Research Department confirmed that global growth is projected to remain steady at 3.3% in 2025 and 2026. Globally, inflation is expected to decline
See MoreIMF Updates World Economic Outlook
On 17 January 2025 the IMF published the update to the World Economic Outlook, with the subtitle Global Growth: Divergent and Uncertain. The update notes that global growth is expected to remain stable at 3.3% in both 2025 and 2026, below the
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Kenya consults implementation of new sugar development levy
The Kenya Sugar Board has released a draft legal notice inviting public feedback on the proposed sugar development levy as outlined in the Sugar Act (Act No. 11 of 2024), which was published in November 2024. The levy, introduced under Section 40
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IMF Report looks at Australia’s Economic Position
On 23 December 2024 the IMF staff issued a report following consultations with Australia under Article IV of the IMF’s articles of agreement. Economic growth is projected increase gradually, from 1.2% in 2024 to 2.1% in 2025. Real income growth
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Vietnam ends tax exemption for low-value express imports
Vietnam’s Deputy Prime Minister Ho Duc Phoc has signed Decision No. 01/2025/QD-TTg (Decision 01), which repeals duty-free imports for goods valued at VND 1 million or less (Decision No. 78/2010/QD-TTg) on 3 January 2025. Under Decision 78,
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Angola proposes new tax compliance, registration rules in 2025 budget
Angola’s government had submitted the 2025 State Budget Law on 31 October 2024 with various tax measures. The proposed tax measures state that: Non-compliant taxpayers will still face restrictions on financial transactions and work permit
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Mexico introduces several tax incentive with economic package 2025
Mexico’s Federal Executive submitted the 2025 economic package to the Congress of the Union on 15 November 2024. This package does not include new taxes or increases to existing ones but adjustments to tax incentives and withholding taxes on
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IMF/World Bank Annual Meetings: World Economic Outlook
The October 2024 update of the World Economic Outlook was launched during the IMF/World Bank annual meetings. The report notes that global growth is expected to remain stable but at relatively low levels. The growth projection of 3.2% in 2024 and
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Italy to treat import VAT as customs duty
Italy’s Customs Agency published Legislative Decree No. 141/2024 in the Official Gazette, which went into force on 4 October 2024, introducing various amendments to VAT on imports. The Decree classifies import VAT as a border duty, similar to
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UN Tax Committee: Environmental Taxation
On 16 October 2024 the UN Tax Committee discussed environmental tax issues. The environmental taxation subcommittee presented some papers to the committee for discussion or approval. Phasing out fossil fuel subsidies A paper on phasing out
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