Canada: Temporary GST/HST exemption proposed for consumer goods
Canada’s federal government announced a proposed temporary exemption from the goods and services tax/harmonized sales tax (GST/HST) for specific consumer goods on 21 November 2024. With a GST/HST exemption across the country, Canadians will be
See More
Mexico introduces several tax incentive with economic package 2025
Mexico’s Federal Executive submitted the 2025 economic package to the Congress of the Union on 15 November 2024. This package does not include new taxes or increases to existing ones but adjustments to tax incentives and withholding taxes on
See More
Hungary: Parliament considers new taxes, includes QDMTT prepayment
Hungary's parliament is reviewing Draft Bill T/9724, which proposes new tax measures, including a payment obligation related to Hungary's adoption of the Pillar Two global minimum tax (GloBE) rules under Council Directive (EU) 2022/2523 of 14
See More
Hungary considers retail tax extension for online marketplaces
Hungary's parliament is currently discussing Draft Bill T/9724, which proposes to extend the retail sales tax to include online marketplaces. The bill is expected to go into force on 1 January 2025. Hungary implemented a retail sales tax on
See More
New Zealand introduces tax policy work programme
New Zealand’s Minister of Revenue has introduced a tax policy work programme on 13 November 2024, which aims to simplify tax and reduce compliance costs, address integrity risks, and improve fiscal sustainability to rebuild the economy. The
See More
South Africa releases draft bill with proposed changes to environmental taxes and more
The South African National Treasury has released the draft Taxation Laws Amendment Bill (B16-2024) on 30 October 2024, which includes proposed changes to environmental taxes, among other provisions. The proposed amendments aim to: Modify
See More
US: Washington updates estate tax filing rules for spousal residence exclusion
The US state of Washington on its webpage on Estate Tax on 9 November 2024 announced the state will allow married couples and registered domestic partners to exclude the value of their personal residence when determining if their estate meets estate
See More
Bangladesh: Central Bank cuts fees for online income tax payments
Bangladesh’s central bank, Bangladesh Bank, has announced in Circular No.9 dated 13 November 2024, that it has reduced the fees associated with income tax payments made via internet banking, debits or credit cards, and mobile financial services
See More
Chile consults luxury goods tax amendments
Chile’s Tax Administration (Servicio de Impuestos Internos, SII) has launched a public consultation regarding a Draft Circular which proposes various amendments to the luxury goods tax. It outlines provisions regarding tax law amendments,
See More
Brazil extends consultation on Pillar Two top-up tax for social contribution
Brazil's tax authority has announced on 4 November 2024 that it has extended the public consultation period regarding Normative Instruction No. 2.228 of October 3, 2024 which regulates the Additional Social Contribution on Net Profit (CSLL),
See More
US: Illinois confirms cloud software not taxable
Illinois has clarified that software delivered via a cloud-based system is exempt from the state's sales tax. This was clarified in the General Information Letter, prepared on 9 October 2024 and published by the Illinois Department of Revenue on
See More
Greece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025 on 5 November 2024. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and
See More
Ireland: Lower House of Parliament passes Finance Bill 2024
The Irish lower house of parliament approved the Finance Bill 2024, which outlines major tax measures from Budget 2025 on Wednesday, 5 November 2024. Finance Bill 2024, which runs to 118 sections and over 200 pages, implements the taxation as
See More
Slovak Republic considers abolishing financial transaction tax
The Slovak Republic’s Parliament has agreed to consider a draft bill to abolish the financial transaction tax (FTT), on 6 November 2024, due to its negative impact on businesses and potential conflicts with the country’s Constitution and
See More
Hong Kong gazettes stamp duty waiver legislation introduced in 2024-25 budget
Hong Kong has gazetted the Stamp Duty Legislation (Miscellaneous Amendments) Bill 2024 on 8 November 2024, which eliminates stamp duties payable on the transfer of real estate investment trust (REIT) units and the jobbing business of option
See More
Kenya proposes new economic presence and minimum top-up taxes in Tax Laws Bill 2024
Kenya's National Assembly presented the Tax Laws (Amendment) Bill 2024 along with the Tax Procedures (Amendment) (No.2) Bill 2024 on 1 November 2024. Both Tax Laws (Amendment) Bill 2024 along with the Tax Procedures (Amendment) (No.2) Bill 2024
See More
Slovak Republic issues tax return form for sugary beverages
The Slovak Republic Ministry of Finance released the tax return form and the related instructions for the new tax on sweetened soft drinks, effective 1 January 2025. Earlier, the Slovakian Parliament enacted the Sugar Tax Act targeting sweetened
See More
Costa Rica lowers fuel tax rates
Costa Rica’s Ministry of Finance has reduced the single tax rates on fuels by 0.34%, effective from November 1, 2024, as per Executive Decree No. 44723-H. However, the tax on LPG will stay unchanged for six years under a provision from Law 10.110
See More