Australia: Payroll tax changes in Victoria, South Australia, Tasmania
The governments of Victoria, South Australia, and Tasmania have declared payroll tax-related changes. General practice businesses (GP) in Victoria will not be required to pay any outstanding or future assessment for payroll tax on payments to
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Australia: Victoria parliament approves 2024 commercial and industrial property tax reform bill
Australia’s parliament of Victoria has passed the Commercial and Industrial Property Tax Reform Bill 2024, new provisions will come into effect starting 1 July, 2024. Under the reform, stamp duty will be payable one last time on commercial and
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US: Tennessee introduces bill to allow cities to reduce or exempt food sales tax
The state of Tennessee has introduced House Bill 2641 which allows specific municipalities to exempt the city sales tax on food and food ingredients. The Bill also authorises municipalities to impose a reduced sales tax rate if a full exemption
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US: Alabama enacts legislation for state and local transient occupancy tax collection
The state of Alabama has enacted legislation mandating that accommodations intermediaries collect state and local transient occupancy taxes starting 1 January, 2025. According to the bill, accommodation intermediaries must collect taxes on the
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US: IRS and Treasury announce 2024 solar and wind capacity limitation carryover amounts
The US Department of the Treasury and the Internal Revenue Service (IRS) issued Announcement 2024-25 on Friday, 17 May, 2024, which provides the total amount of unallocated environmental justice solar and wind capacity limitation that has been
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Norway proposes new method for calculating ground rent tax
Norway has updated its National Budget for 2024, which proposed that ground rent tax for land-based wind power plants owned by entities with participant determination, such as responsible companies and limited partnerships, be calculated using a
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Czech Republic: Potential changes to windfall tax on fuel
The Czech Statistical Office has revised the statistical classification of economic activities as per the CZ-NACE. This change may impact the range of entities subject to the "windfall tax" on fuel sales. Additionally, the General Financial
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Western Australia: Parliament passes build-to-rent land tax exemption
The Western Australian Parliament has enacted the Land Tax Assessment Amendment (Build-to-Rent) Bill 2023. This legislation grants a 50% land tax exemption for 20 years to qualifying build-to-rent (BTR) developments, housing projects specifically
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Colombia to tax sales of single-use plastics in home and abroad
In a landmark decision, Colombia's tax authority (DIAN) published Ruling 294 on 25 April 2024, marking a significant turn in the country's battle against single-use plastics. This ruling clarifies the application of taxes on the sales of single-use
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Denmark proposes extensive green tax reforms
The Danish parliament proposed draft bills L 182 and L 183, outlining a comprehensive green tax reform package. Key Provisions Phased CO2 Tax Implementation: A CO2 tax will be phased in starting from 2025 and reaching its final structure by
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Serbia introduces new eco tax decree
Serbia has recently enacted a new decree outlining criteria for assessing the negative environmental impact of business activities and determining the corresponding Environmental Protection Fee, also known as the Eco Tax. The decree categorises
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Nigeria implements cybersecurity levy on e-transactions
The Central Bank of Nigeria (CBN) released, on 6 May, 2024, Circular PSM/DIR/PUB/LAB/017/004 of 6 May 2024, in which it directed banks, financial organisations, payment service providers, and mobile money operators in Nigeria to enforce a 0.5%
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Australia announces consultation on draft bill to amend GST treatment for vehicle supplies
The Australian Taxation Office (ATO) issued a draft, on 10 May, 2024, for public consultation of the legislation A New Tax System (Goods and Services Tax): Waiver of Tax Invoice Requirement (Motor Vehicle Incentive Payment Made to Motor Vehicle
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Poland: Railway freight terminals exempt from real estate tax, imposes VAT to renewable energy installations
The Minister of Finance of Poland, Andrzej Domanski, provided clarifications regarding the application of the real estate tax exemption for railway freight terminals on 8 May, 2024. Although the regulations exempting freight terminals from real
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Saudi Arabia: ZATCA introduces changes to real estate transaction tax regulations
The Zakat, Tax, and Customs Authority (ZATCA), on 3 May, 2024, unveiled significant amendments to the real estate transaction tax (RETT) regulations, marking a pivotal shift in property transaction dynamics. The Key changes include: Expanded
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Slovak Republic consults public regarding draft bill to tax sugary beverages
The Slovak Republic’s Ministry of Finance has proposed a draft bill for public consultation on taxing sugary beverages and drinks with sweeteners. The tax on sweetened soft drinks (TSSD) is classified as an indirect tax on consumption. This
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UN: Ad Hoc Committee on Framework Convention Discusses Substantive Elements
UN Resolution 78/230 of 22 December 2023 established an ad hoc intergovernmental committee to draft terms of reference for a UN framework convention on international tax cooperation. The first session of the ad hoc committee is being held between 26
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Netherlands reconsidering 2024 tax plan amendments including stock buyback and bank tax changes
On 5 April 2024, the Dutch Ministry of Finance released a letter to the Senate outlining the decision to retract specific policies previously approved under the 2024 Tax Plan. The measures include: From 1 January 2024, the 30% ruling regime
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