Brazil: Government to raise tax on interest on equity in fiscal package
Brazil's Finance Ministry plans to increase the income tax on interest on equity (JCP) payments from 15% to 20% as part of a new fiscal package. Brazil's Finance Minister, Fernando Haddad, announced on 10 June 2025 that the government is
See MoreBrazil: Government poised to support 10% reduction in tax breaks
Brazil's government is expected to back a bill proposing a 10% reduction in federal tax breaks, with a 5% cut in 2025 and another 5% in 2026. Brazil's government is likely to support a bill for a 10% cut to federal tax breaks, multiple sources
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US extends Section 301 tariff exemptions on Chinese imports through August 2025
The USTR has extended certain product exclusions from Section 301 tariffs on Chinese imports until 31 August 2025. The Office of the US Trade Representative (USTR) has announced an extension of specific product exclusions from Section 301 tariffs
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Malaysia: MoF announces sales and service tax amendments
Malaysia announced revisions to the sales tax and an expanded service tax scope, effective 1 July 2025. Malaysia’s Ministry of Finance announced on 9 June 2025 revisions to the sales tax and an expanded scope for the
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Italy issues guidance on DST for online gaming and betting
Italy's tax authority issued guidance on applying the 3% digital services tax (DST) to the online gaming and betting industry. Italy’s tax authority (ITA) released Tax Law Principle (TLP) No. 6/2025 on 3 June 2025, offering guidance on the
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Philippines enacts Capital Markets Efficiency Promotion Act (CMEPA)Â
Philippine President Ferdinand R. Marcos, Jr. has signed the Capital Markets Efficiency Promotion Act (CMEPA) into law on 30 May 2025, which goes into force on 1 July 2025. Philippine President Ferdinand R. Marcos, Jr., has signed the Capital
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Mexico objects US tax on cross-border remittancesÂ
The One, Big, Beautiful Bill (Act), which is now under Senate review, proposes a 3.5% tax on all remittances sent by non-US citizens to foreign countries, regardless of the transfer amount. The US House of Representatives passed the One,
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US: Hawaii introduces lodging tax for climate-change mitigation
The law adds a 0.75% "Green Fee" to the existing transient-accommodations tax of 10.25% and imposes a levy on cruise-ship passengers docking in the islands. Hawaii Governor Josh Green has signed SB 1396 into law, making Hawaii the first US
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Malta extends property tax incentives until December 2025
The Maltese government has extended property tax exemptions on qualifying transfers until 31 December 2025. The Maltese government has extended property tax incentives through Legal Notice 93 of 2025, published on 27 May 2025. The exemption
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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/D6Â 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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