Uzbekistan reduces customs-duty-free import thresholds for selected goods
The Ministry of Economy and Finance has reduced customs duty exemption thresholds for personal imports to USD 1,000 by air and USD 500 by rail or river, while allowing up to 65 grams of jewellery worth up to USD 2,000 to be imported without
See More
US: Maine to broaden sales tax to include digital content
Maine's new budget law will impose a 5.5% sales tax on streaming platforms and digital services starting 1 January 2026. Maine Governor Janet Mills signed a new budget law (LD 210) on 23 June 2025, which expands the state’s sales tax to include
See More
Slovak Republic consults financial transactions tax exemption for foreign entities, entrepreneurs
The draft bill exempts foreign subsidiaries/branches with prior taxable income under EUR 100,000 and individual entrepreneurs from the financial transactions tax. The Slovak Republic’s Ministry of Finance is consulting on a draft bill to narrow
See More
Australia: NSW announces 2025-26 budget, makes BTR land tax concession permanent
From 2026, New South Wales will make the BTR land tax concession permanent and launch a critical minerals royalty deferral scheme to attract investment. Michael Coutts-Trotter, the Secretary of the New South Wales (NSW) Treasury, presented the
See More
South Africa: SARS updates tax guide on net billing for renewable energy
SARS clarifies tax rules for surplus renewable energy under net-billing system. The South Africa Revenue Service (SARS) released an updated Guide on 13 June 2025, outlining the tax implications for the net-billing tariff system applied to surplus
See MoreAustralia: Western Australia improves housing affordability as part of 2025–26 budgetÂ
Western Australia passed the Duties Amendment Bill 2025, expanding concessions for first-home buyers and off-the-plan purchases to improve housing affordability as part of the 2025-2026 budget, with no new taxes. The Western Australian Parliament
See More
Australia: ATO consults draft GST, foreign ownership register rulesÂ
The ATO is consulting on three draft instruments regarding GST and the Register of Foreign Ownership of Australian Assets. Feedback is open until 16 July 2025. The Australian Taxation Office (ATO) opened a consultation on three draft instruments
See More
EU urges Hungary to scrap retail tax regime
The move aims to ensure compliance with the principle of freedom of establishment. In its June 2025 infringements package, the European Commission issued a reasoned opinion to Hungary on 18 June 2025, urging the country to abolish its retail tax
See More
Canada: British Columbia to raise speculation and vacancy tax rates in 2026
The speculation and vacancy tax rates will increase for foreign owners from 2% to 3% and for Canadian residents from 0.5% to 1% from 2026. The Government of British Columbia announced on 12 June 2025 that speculation and vacancy tax rates will
See More
UK: BoE likely to hold interest rates amid rising oil prices and inflation risks
The Bank of England is likely to keep interest rates at 4.25%, weighing lower domestic inflation against rising oil prices and global uncertainty. The Bank of England (BoE) is expected to keep its Bank Rate steady at 4.25% in its policy
See More
US: Senate Republicans unveil new tax and spending bill, aligns with House legislation
US Senate Republicans proposed changes to Trump's tax and spending bill, making some business tax breaks permanent while limiting state and local tax deductions. US Senate Republicans have introduced their version of President Donald Trump's
See MoreUS: Illinois to tax 50% of GILTI, tightens interest deductions under 2026 budget
Starting with tax years ending on or after 31 December 2025, taxpayers must include 50% of GILTI, as defined under IRC section 951A, in their base income for Illinois tax purposes. Illinois Governor J.B. Pritzker signed a bill (HB 2755) on 16
See More
Uganda presents 2025–26 budget, proposes income tax exemption for start-ups
Uganda's Ministry of Finance unveiled a UGX 72.136 trillion national budget for 2025-26. Uganda’s Ministry of Finance Planning and Economic Development has unveiled a UGX 72.136 trillion national budget for the 2025-26 financial year on 12
See MoreUS: Maryland clarifies expanded sales tax on data and IT services
The 3% sales and use tax goes into effect on 1 July 2025. The Comptroller of Maryland clarified the 3% sales and use tax on certain data, IT, and software publishing services in Technical Bulletin No. 56, released on 10 June 2025. The expanded
See More
Tanzania presents 2025-26 budget, introduces withholding tax and higher AMT
The budget speech highlighted key fiscal changes, which included a new withholding tax, higher alternative minimum tax, and VAT adjustments. Tanzania's Minister of Finance, Mwigulu Nchemba, has presented the 2025-26 Budget Speech to parliament on
See More
Brazil revises financial transaction tax rates again
Brazil issued Decree No. 12.499 on 11 June 2025, repealing Decrees 12.466 and 12.467, raising financial transaction tax (IOF) rates on select insurance, credit, and forex transactions. Brazil has published Decree No. 12.499 on 11 June 2025, which
See More
Kenya: National Treasury publishes budget statement 2025-26, reduces corporate and digital tax ratesÂ
Kenya's National Treasury has released the 2025-26 Budget Statement on 12 June 2025. Kenya's National Treasury published the 2025-26 Budget Statement on 12 June 2025, outlining key tax measures aligning with proposals highlighted in the 2025
See More
Hong Kong announces 2024-25 property tax obligations for owners
Hong Kong property owners with taxable rental income must inform the Inland Revenue Department by 31 July 2025 if they don’t receive a tax return, or face penalties. The Hong Kong Inland Revenue Department has issued a notice on property tax
See More