Canada: Manitoba announces 2025 budget, features contingency plan to address potential impact of US tariffs
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 taxes
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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South Africa unveils 2025 budget: Raises VAT and corporate income tax
South Africa's Finance Minister, Enoch Godongwana, presented the 2025 Budget Speech on 12 March 2025. The minister has proposed raising the VAT rate and corporate and personal income taxes. However, no changes to personal income tax rebates or
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Malawi announces 2025-26 budget, cuts corporate tax for non-resident firms
Malawi's Minister of Finance Simplex Chithyola Band presented the 2025-26 Budget Statement on 28 February 2025. The budget, totaling MWK 8 trillion, aims to stabilise the economy in the face of sluggish GDP growth, soaring inflation, and mounting
See MoreOECD: Report on Simplified Peer Review of Iceland under BEPS Action 14
On 4 March 2025 the OECD issued a stage one simplified peer review report on Iceland under BEPS action 14. The report sets out the results of Stage 1 of the simplified peer review of the implementation of the minimum standard on making dispute
See MoreOECD: Report on Simplified Peer Review of Peru under BEPS Action 14
On 4 March 2025 the OECD issued a stage one simplified peer review report on Peru under BEPS action 14. The report sets out the results of Stage 1 of the simplified peer review of the implementation of the minimum standard on making dispute
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US: Wyoming offers 25% property tax cut for homeowners
Wyoming Governor Mark Gordon signed a legislation on 3 March 2025 that offers a property tax exemption of up to 25% for single-family homes. A single-family home is a structure intended for human habitation, including a house, modular home,
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Costa Rica announces moveable property tax brackets for 2026
Costa Rica’s government has released the updated tax brackets for motor vehicles, aircraft, recreational vessels, and motorcycles, adjusted annually for inflation, along with fixed taxes for taxis, buses, and heavy cargo vehicles on 28 January
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