Hong Kong: Chief Executive delivers 2025 policy address, includes tax incentives for strategic industries, and digital investments
The Hong Kong government plans to introduce legislative changes in early 2026 to enhance preferential tax regimes and attract more funds, family offices, and carried interest, reinforcing its role as a global financial hub. Hong Kong’s Chief
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Uzbekistan: Parliament considers proposal to implement Islamic banking
The draft law will provide a legal framework for Islamic banking in Uzbekistan, enabling the establishment of Islamic banks and windows, curbing the hidden economy, and attracting foreign investment in line with international Islamic finance
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South Africa: SARS consults customs rules for transfer pricing adjustments
The consultation is set to conclude on 3 October 2025. The South African Revenue Service (SARS) has initiated a public consultation regarding draft changes to the rules under sections 40, 41, and 120 of the 1964 Customs and Excise Act, relating
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US: Federal Reserve reduces benchmark rates to 4.00%-4.25%
The Federal Reserve cut interest rates by 0.25%, which brings the benchmark rate to 4.00%-4.25%. The US Federal Reserve has reduced interest rates on Wednesday, 17 September 202, for the first time since December in response to concerns about
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Australia: ATO releases official form to revoke thin capitalisation test elections
The form enables eligible entities to revoke a previously made thin capitalisation test choice, including the group ratio or third-party debt tests. The Australian Taxation Office (ATO) released the official form for revoking thin capitalisation
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Poland: MoF consults on draft corporate tax reform to address tax gaps
The deadline for submitting comments is 26 September 2025. Poland’s Ministry of Finance has initiated a public consultation on 16 September 2025 regarding the draft amendments to the Corporate Income Tax (CIT) framework. The proposed
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US: House Republicans call on President Trump to advocate ending UK DST
The letter mentions that, since 2020, the UK Digital Services Tax has collected over USD 3 billion, diverting economic profit from American innovators and workers to foreign coffers. US Congressman Ron Estes (R-Kansas) led 21 of his colleagues in
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Indonesia: Central bank again cuts interest rate to 4.75%
Bank Indonesia (BI) previously cut its benchmark interest rate by 25 basis points to 5.00% on 20 August 2025. Indonesia's central bank, Bank Indonesia (BI), has announced its sixth interest rate cut since starting its easing cycle in September
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Hong Kong: HKMA cuts interest rate to 4.50%
The Hong Kong Monetary Authority (HKMA) cut its base rate by 25 basis points to 4.50%, following the US Federal Reserve’s move. Hong Kong's central bank, the Hong Kong Monetary Authority (HKMA), has reduced its base interest rate by 25 basis
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Canada: Central bank cuts interest rate to 2.50%
Bank of Canada lowered interest rate amid economic slowdown Canada’s central bank, the Bank of Canada, lowered its key interest rate by 25 basis points to 2.50% on Wednesday, 17 September 2025, marking its first rate cut since March. The
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Sri Lanka: IRD issued notice on ATPS tax credit verification
IRD urged taxpayers to check 2020–21 ATPS credits. The Sri Lankan Inland Revenue Department (IRD) issued a Notice No. PN/PYMT/2025-01 on 10 September 2025, called on taxpayers to verify tax credits linked to payments made under the
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Greece: AADE announces B2B e-invoicing launch for large businesses
Greece set B2B e-invoicing mandatory from February 2026 with early adoption incentives. The Greek Public Revenue Authority (AADE) announced the official dates when businesses must start issuing electronic invoices (e-invoices) for
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Paraguay introduces tax incentives for electronics manufacturing, digital equipment
Paraguay’s Law No. 7546/2025 boosted investment and jobs in electronics and digital equipment. Paraguay has enacted Law No. 7546/2025, published on 8 September 2025 and effective from 9 September 2025, to promote investment and formal
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US: IRS announces tax relief to Wisconsin storm, flooding, and mudslides victims
Wisconsin taxpayers now have until 2 February 2026 to file various federal individual and business tax returns and make tax payments. The US Internal Revenue Service (IRS) released WI-2025-04 on 17 September 2025, in which it announced tax relief
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Ethiopia updates VAT registration rules, expands scope
Ministry of Finance issued Directive No. 1104/2025, requiring certain taxpayers to register for VAT and start collection within 30 days. Ethiopia’s Ministry of Finance issued Directive No. 1104/2025 on 3 September 2025, outlining updated
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Czech Republic: President signs bill amending rules Pillar 2 rules, updates top-up tax deadlines
The President of the Czech Republic signed a bill amending the Act on Top-Up Taxes, aligning Pillar 2 filing and local tax deadlines with OECD timelines. The President of the Czech Republic, Petr Pavel, signed a bill amending the “Act on Top-Up
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Lebanon: Government tables 2026 budget law draft, introduces amendments to corporate income tax
Lebanon submitted its 2026 Draft Budget Law to the Council of Ministers, proposing wide-ranging reforms across corporate tax, VAT, customs, excise duties, digitalisation, and tax incentives, including stricter deduction rules, and targeted
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Mexico: Tax authority publishes updated list of foreign digital service providers registered for tax
Tax authority on 15 September 2025 published an updated list of 268 registered foreign digital service providers. Mexico’s tax authority released an updated list of 268 foreign digital service providers registered for tax purposes on 15
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