UN Tax Committee: Extractive Industries Taxation
On 25 March 2025 the Subcommittee on the Extractive Industries taxation presented to the UN Tax Committee a draft supplement to Chapter 5 (tax incentives) of the UN Handbook on Selected Issues for Taxation of the Extractive Industries; draft
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Costa Rica increases tax on tobacco, derivatives
Costa Rica’s tax authority (DGT) has announced an increase in the specific tax on tobacco and tobacco-derived products, raising the rate from CRC 26.59 to CRC 26.92 per unit. This adjustment is outlined in Resolution No. MH-DGH-RES-0023-2025,
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US: Arkansas increases property tax credit, raises homestead property tax credit by USD 100
The Arkansas Senate has approved a property tax cut to save Arkansas homeowners USD 56 million annually. The tax reduction is in Senate Bill 263, which will take effect for assessment years beginning on or after 1 January 2025. It raises the
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Australia unveils 2025-26 budget, proposes amendments to tax laws for managed investment trusts
Australia’s Treasurer Jim Chalmers presented the 2025-26 Budget on 25 March 2025. The tax measures are limited and include plans to amend tax laws for managed investment trusts, allowing legitimate investors to access concessional withholding tax
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UN Tax Committee: Transfer Pricing Subcommittee Discusses Future Guidance
On 26 March 2025 the UN Tax Committee discussed their transfer pricing work. Since the previous session of the Committee, the Subcommittee on Transfer Pricing has gathered feedback from members on possible future workstreams that could be pursued by
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UN: New Article 12AA on Taxation of Services Presented for Approval
The 30th session of the UN Committee of Experts on International Cooperation in Tax Matters is being held from 24 to 27 March 2025. On 25 March 2025 the Subcommittee on Taxation Issues Related to the Digitalized and Globalized Economy presented
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Canada: Manitoba announces 2025 budget, features contingency plan to address potential impact of US tariffsÂ
Canada’s provincial state of Manitoba’s Minister of Finance, Adrien Sala, announced the 2025 provincial budget for Manitoba on 20 March 2025, features a contingency fiscal plan to address the potential impact of widespread US tariffs on Canadian
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Kenya proposes scrapping excise duty on imported electric transformers, parts
Kenya’s government published a bill in the Official Gazette on 3 March 2024, proposing the scrapping of the 25% excise duty on imported electric transformers and parts under the Excise Duty (Amendment) Bill 2025. The bill was made public on 18
See MoreCanada announces 2025 budgets for New Brunswick, Saskatchewan
Canada’s provincial states New Brunswick and Saskatchewan have announced their budgets for 2025. New Brunswick 2025-16 budget Finance Minister René Legacy presented the provincial 2025-26 budget for New Brunswick on 18 March 2025. It
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Nigeria: House keeps corporate tax at 30% and VAT at 7.5%
Nigeria’s House of Representatives has approved and adopted the recommendations of its Committee on Finance, which retains the value added tax (VAT) rate at 7.5%. The previous proposal was to increase to 12.5%, which was set for 2026. The House
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Thailand: Cabinet approves carbon tax to reduce emissions
The Thai Cabinet gave its approval to a draft Ministerial Regulation, proposed by the Ministry of Finance (MoF) on 21 January 2025, which aims to introduce a carbon tax as part of the country’s ongoing efforts to reduce greenhouse gas emissions
See MoreCanada: Prime Minister Mark Carney abolishes consumer carbon tax
Canadian Prime Minister Mark Carney has abolished the consumer carbon tax effective from 1 April 2025. The change, enacted through Orders in Council (OICs) 2025-0446 and 2025-0447, removes the Canada fuel charge, introduced by former Prime Minister
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Chile sets tax rates for mining SMEs
Chile's Internal Revenue Service (SII) has issued Resolution No. 33 of 13 March 2025, which sets new tax rates for small miners and SMEs involved in mining and selling gold and silver ores. The rates for small artisan miners using the simplified
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Armenia: Parliament approves doubling gambling taxesÂ
Armenia’s parliament has approved higher tax rates on online casinos and bookmakers on 6 March 2025. Starting 1 April 2025, gambling tax rates per bet will double from 0.175% to 0.35% for online casinos and from 0.1% to 0.2% for
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Ghana: 2025 budget to ease economic pressures on households, businesses
Ghana's Minister of Finance, Dr. Cassiel Ato Forson, presented the 2025 Budget Statement and Economic Policy on 11 March 2025 outlining tax policies and proposals designed to restore fiscal discipline, boost revenue generation, and ease economic
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Mongolia: MLI instrument goes into effect on January 2025, announces direct and indirect tax measures
Mongolia has ratified the Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI) on 30 September 2024, which takes effect on 1 January 2025. As of February 2025, the Organisation for Economic
See MoreCanada: Ontario suspends 25% power surcharge following Trump’s tariff threat
Canadian province Ontario has suspended its 25% surcharge on electricity exports to the US after talks between US Commerce Secretary Howard Lutnick and Ontario Premier Doug Ford. The talks followed after President Donald Trump announced to raise
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European Commission responds to US steel, aluminium tariffs
The United States imposed tariffs of up to 25% on imports of steel, aluminium, and certain products containing steel and aluminium from the European Union and other trading partners On 12 March 2025. In response, the Commission is launching a series
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