Slovak Republic gazettes bill to tax sugary beverages
The Slovak Republic gazetted a new bill, โAct on Taxโ, which imposes a sugar tax on sweetened soft drinks. The bill will take effect on 1 January 2025. The Slovak President signed the bill on 20 September 2024, and it was officially
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Costa Rica revises 2025 moveable property tax brackets for vehicles, aircraft, vessels
Costa Ricaโs Executive Branch has published the Executive Decree No. 44658-H in the Official Gazette on 30 September 2024, outlining the movable property tax brackets for the 2025 tax year. It also includes revised tax brackets for motor
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Poland to raise excise duty on tobacco products
Polandโs Council of Ministers approved a bill to raise excise duty rates on tobacco products on 1 October 2024. The tobacco products that are subject to increased excise duty include cigars, novelty tobacco products, raw tobacco, and electronic
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Croatia launches public consultation on higher short-term rental taxes
Croatiaโs government has introduced a higher tax on income generated from short-term rentals as part of a series of amendments to the Individual Income Tax Act. The government has initiated a public consultation about the draft amendments,
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Slovak Republic passes bill to introduce financial transaction tax,ย amends VAT, income tax and other tax rates
Slovak Republicโs parliament passed a government bill on 3 October 2024 introducing a new tax on financial transactions and amending several acts, including VAT and income tax rates. The key details of the bills are as follows: Financial
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Australia: ATO implements additional annual GST return for large taxpayers
The Australian Taxation Office (ATO) has introduced a new supplementary annual goods and services tax (GST) return for large taxpayers who have undergone a GST assurance review on 3 October 2024. The new GST tax measure is part of a pilot
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European Commission launches expiry review of anti-dumping duties on import of Chinese ironing boards
The European Commission published the Notice of initiation of an expiry review of the anti-dumping measures applicable to imports of ironing boards originating in the People's Republic of China (the Notice) in the Official Journal of the European
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European Commission urges Hungary to scrap retail tax
The European Commission announced that it decided to initiate an infringement procedure against Hungary on 3 October 2024, urging the country to eliminate its retail tax regime which is deemed non-compliant with the freedom of establishment. The
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Belgium introduces tax measures for Flemish region
Belgiumโs new government agreement for the Flemish region includes various tax measures, which includes amendments to inheritance and property taxes. Under the new tax measures, effective in 2026, inheritance tax rates will decrease for small
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Netherlands unveils ESG proposals on 2024 Budget Day
The Netherlands government submitted the 2025 Tax Plan to the lower house of Parliament on 17 September 2024. In addition to various proposals to improve the taxation system, the tax plan includes several proposals related to environmental, social,
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UN publishes draft guidance on carbon offsets, carbon credits in transfer pricing
The UN Subcommittee on Transfer Pricing published an advanced unedited version of the guidance Interstitial Guidance on Transfer Pricing of Carbon Offsets and Carbon Credits on 28 August 2024. The draft is an updated version of a document
See MoreOECD: Latest Edition of Tax Policy Reforms
On 30 September 2024 the OECD published the latest edition of Tax Policy Reforms: OECD and Selected Partner Economies. This annual publication provides comparative information on tax reforms in a number of countries. The latest report looks at the
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Lithuania: Social Democratic Party proposes higher corporate income tax, luxury asset tax
Lithuaniaโs Social Democratic Party Vilija Blinkeviฤiลซtฤ, announced her party's tax reform plans in anticipation of the upcoming election on 24 September 2024. She stated that if her party comes to power after the forthcoming parliamentary
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Thailand to implement carbon tax by 2025
Thailandโs Deputy Finance Minister Paopoom Rojanasakul announced that the country will implement a carbon tax by 2025, as part of its efforts to address climate change and promote sustainable practices, on 26 September 2024. The carbon tax will
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US: Congressional Research Service reviews possible changes to estate tax
The Congressional Research Service (CRS) of the US Library of Congress has explored options for reforming estate taxation as per the R48183 report on 16 September 2024. The estate tax is imposed on bequests at death, whereas the gift tax applies
See MoreSlovak Republic enacts sugar tax, targets sweetened nonalcoholic beverages
The Slovakian Parliament enacted the Act on Tax (sugar tax) targeting sweetened nonalcoholic beverages on 11 September 2024. This follows after the Slovak Republicโs Ministry of Finance initiated a public consultation on draft legislation in
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Nigeria reinstates cybersecurity levy with reduced rateย
Nigeriaโs Central Bank (CBN) announced that it is reintroducing a 0.005% levy on all electronic transactions conducted by banks and financial institutions under the โCybercrime (Prohibition, Prevention, etc.) Act, 2015โ on 17 September
See MoreEuropean Commission to end anti-subsidy measures on woven, glass fibre fabrics imports from China, Egypt
The European Commission (EC) issued the Notice of the impending expiry of certain anti-subsidy measures in the Official Journal of the European Union (OJEU) on 17 September 2024 concerning the woven and stitched glass fibre fabrics imports from
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