El Salvador: Congress approves tax on foreign NGO donations
El Salvador's Congress approved a new law, on 20 May 2025, which imposes a 30% tax on transactions from foreign donors to local organisations. The law is set to take effect eight days after its publication in the official gazette. The
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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
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US: Alabama opts out of federal R&D tax deduction rules, reduces grocery sales tax
Alabama Governor Kay Ivey signed the bill (HB 163) on 14 May 2025, which decoupled Alabama from the federal Tax Cuts and Jobs Act (TCJA) treatment of research and experimental (R&E) expenditures. On the same day, the governor also signed a bill
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Canada: Ontario unveils 2025 budget, proposes increased tax credit for corporations
Minister of Finance Peter Bethlenfalvy, of the Canadian province of Ontario, presented the 2025 Ontario Budget: A Plan to Protect Ontario on 15 May 2025. It confirms no new changes to corporate or personal income tax rates. However, qualifying
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Argentina to scrap mobile phone import tariffs, reduce excise duties on electronics
Argentina will scrap import tariffs on mobile phones and reduce excise duties on other electronic products. Presidential Spokesperson Manuel Adorni says that this initiative will reduce crime, smuggling and lower prices for consumers. The 16%
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US: IRS announces 2025 inflation adjustment for carbon sequestration credit
The US Internal Revenue Service (IRS) has released the inflation adjustment factor for the carbon oxide sequestration credit under IRC section 45Q for 2025 (Notice 2025-25, IRB 2025-20). The inflation adjustment factor for calendar year 2025 is
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Canada: Alberta halts industrial carbon pricing at the current rate
The Canadian Province of Alberta announced on 12 May 2025 that it is freezing the industrial carbon price at the current rate of CAD 95 per tonne of emissions. The announcement was made by Alberta’s Premier, Danielle Smith. Previously, the
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Italy: Council of Ministers approves draft decree on local taxes and fiscal federalism
Italy’s Council of Ministers has approved a draft Legislative Decree on 9 May 2025, introducing measures on local taxes and regional fiscal federalism as part of a tax reform. The Decree introduces greater fiscal autonomy for territorial
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Australia: Victoria proposes extension of off-the-plan stamp duty concession
Australia’s Victorian government announced on 14 May 2025 that it will extend its stamp duty concession for eligible “off-the-plan” homes for another 12 months. The Victorian Budget 2025-26 will invest AUD 61 million to slash stamp duty for
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Argentina postpones tax hike on liquid fuel, carbon dioxide
Argentina’s government has postponed the scheduled tax increases on liquid fuels and carbon dioxide through Decree 296/2025, which was published in the Official Gazette on 30 April 2025. This decree delays the hiked tax rates until 1 June
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Australia: Northern Territory presents tax measures for 2025 budget
Australia’s Northern Territory (NT) newly elected Country Liberal Party has presented its 2025-26 budget for the province on 13 May 2025. Chief Minister Lia Finocchiaro and Treasurer Bill Yan have emphasised key priorities in the budget,
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Jamaica: Cabinet approves 20% expanded duty concession for agricultural vehicles
Jamaica’s Cabinet has approved the expansion of the 20% duty concession for agricultural vehicles on 9 April 2025. Minister of Agriculture, Fisheries and Mining, Floyd Green, announced this during the post-cabinet press briefing at Jamaica
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Hong Kong approves stamp duty changes on real property
The Hong Kong Legislative Council approved the Stamp Duty (Amendment) Bill 2025 on 7 May 2025 to implement the 2025-26 budget proposal to raise the maximum value of properties chargeable to the HKD 100 stamp duty from HKD 3 million to HKD 4 million,
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Australia: ATO urges large taxpayers to submit annual GST supplementary return
The Australian Taxation Office (ATO) has issued a reminder about lodging a new supplementary annual GST return for large taxpayers on 8 May 2025. The return is required for those in the Top 100 and Top 1,000 Justified Trust Programs for GST
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Netherlands emissions authority accepting CBAM declarant applications from May 2025
The Netherlands' emissions authority (NEA) announced on 1 May 2025 the launch of a dedicated online portal for taxpayers to apply for CBAM authorised declarant status. The Carbon Border Adjustment Mechanism (CBAM) is an initiative introduced by
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US: New Jersey launches mediation pilot program for corporate sales and tax disputes
The New Jersey Division of Taxation is launching a two-year pilot mediation program on 1 October 2025. The Pilot is set to run for 24 months from 1 October 2025 to 30 September 2027. The program is open to all business entities involved in
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Costa Rica increases fuel tax
Costa Rica’s Ministry of Finance has announced a 0.03% increase in the single tax rate on fuels, as mandated by Law 8.114 of 2001. This tax is applied at fixed rates per litre based on the type of fuel. However, despite this adjustment, the
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Netherlands scraps plastic tax, considers higher waste tax
The Dutch government has reportedly scrapped its plans to introduce a polymer levy (polymerenheffing) or the plastic tax. Cancelling the tax will cause a EUR 567 million budget loss, which will likely be offset by raising the waste tax rate and
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