Australia: Tasmania unveils 2025–26 budget, abolishes stamp duty for first home buyers
The 2025-26 budget introduces no new taxes or changes to existing ones. Its key initiative is removing stamp duty for first home buyers in Tasmania on homes up to AUD 750,000. Guy Barnett, Treasurer and Deputy Premier of Tasmania, presented the
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UK: Scotland extends LBTT group relief provision
The legislation extends LBTT group relief to non-partition demergers and clarifies that the sub-sale relief period begins on the qualifying sub-sale date. Scotland’s government released legislation titled “The Land and Buildings Transaction
See MoreAustralia: ATO consults draft GST instruments
Comments are open until 25 June 2025. The Australian Taxation Office (ATO) has issued two draft legislative instruments, LI 2025/D6 and LI 2025/D7, for public consultation on the goods and services tax (GST) on 28 May 2025. The key measures
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Brazil: Economic Team to propose final alternative plan for IOF tax increases
Brazil’s government will present an alternative plan for the IOF tax increase within 10 days. Brazil’s Congress lower house speaker, Hugo Motta, said in an X post on 29 May 2025, that the government will present an alternative plan for
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Canada: Government proposes GST rebate for first-time home buyers, repeal of consumer carbon price, middle-class tax cuts
Canada’s Finance Minister proposed the measures on 27 May 2025. Canada’s Finance Minister, François-Philippe Champagne, has tabled a notice of Ways and Means Motion in Parliament on 27 May 2025, proposing GST relief for first-time
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South Africa: SARS clarifies revised carbon offset rules
The update modifies the eligibility criteria for renewable energy projects under the carbon offset allowance. The South African Revenue Service (SARS) has released an Explanatory Memorandum on 15 March 2025 outlining amendments to the Carbon
See MoreBrazil raises financial transaction tax on select insurance, credit, forex transactions
The Tax on Financial Operations (IOF) is a financial levy applied to individuals and businesses in Brazil, covering a range of financial transactions. Brazil has issued Decree No. 12.466 of 22 May 2025, which increases the financial transactions
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Spain considers legislation to improve access to housing
This legislation urges the government to advance initiatives addressing housing challenges, ensure legal certainty, mobilise vacant homes, make housing more affordable, expand public housing, and increase social and affordable rental
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UAE: MoF temporarily eases listing requirement for REIT exemption
The Decision outlines conditions for certain Real Estate Investment Trusts (REITs) to qualify for corporate tax exemption. The UAE Ministry of Finance has issued Ministerial Decision No. 96 of 2025 on Conditions to Exempt Certain Real Estate
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US: Washington adopts major business and occupation tax reforms
The law introduces significant changes to the B&O tax and extends the retail sales tax to computer-related services. Washington Governor Bob Ferguson signed two bills, Bill HB 2021 and Bill SB 5814, into law on 20 May 2025, introducing major
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EU: European Parliament endorses revisions to EU carbon border mechanism
The European Parliament has approved changes to the EU's carbon border adjustment mechanism (CBAM), simplifying the rules and exempting 90% of importers. The European Parliament approved changes to the EU's carbon border adjustment mechanism
See MoreBrazil: MoF scraps higher tax on investments made abroad
Finance Ministry dropped plans for a higher tax on overseas investments on Friday, following criticism that it signalled a return to capital controls. Brazil's Finance Ministry dropped a higher transaction tax on overseas investments on Friday,
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OECD: Carbon taxes and emissions trading most effective climate policies
The paper examines carbon mitigation policies, their impact on emissions, and methods to measure carbon intensity across sectors. The Organisation for Economic Co-operation and Development (OECD) released a paper titled “The effects of climate
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US: Texas introduces new tax incentives for businesses, seeks to ban transactions and occupation taxes
Texas Governor Greg Abbott signed three bills into law on 14 May 2025, introducing tax incentives for businesses and securities market operators. Texas Governor Greg Abbott signed three bills into law on 14 May 2025, offering tax incentives for
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South Africa: MoF presents revised 2025 budget, scraps proposed VAT hike
Finance Minister delivered 2025 revised budget speech on 21 May 2025. Key tax changes include scrapping proposed VAT rate hikes, removing additional zero-rated items, and increasing the inflation-linked fuel levy. South Africa’s Finance
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Sweden: Ministry of Finance proposes reduced energy tax on electricity from 2026
Sweden’s Ministry of Finance has proposed lowering the energy tax on electricity to öre 41.1 per kilowatt hour on 19 May 2025. The draft is currently under consideration. If approved, the change would take effect on 1 January 2026. The
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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
See MoreSweden: 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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