Ukraine to repeal commercial code from August 2025
The repeal will abolish several legal entity types and launch a three-year transition period. Ukraine has enacted Law No. 4196-IX, repealing the Commercial Code effective 28 August 2025. The reform shifts business regulation to the Civil Code and
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South Africa: SARS updates urban development zone allowance guide
The UDZ allowance guide offers general guidance on section 13 (quat) of the Income Tax Act and the application of the urban development zone incentive. The South African Revenue Service (SARS) published Issue 10 of its updated Guide to the Urban
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Greece consults draft tax and customs law amendments
The draft tax law introduces changes affecting crew taxation, hospitalisation benefits, and electronic rent payments. The Greek Ministry of Finance launched a public consultation on a draft law on 24 June 2025. The law introduces various tax
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Uzbekistan reduces customs-duty-free import thresholds for selected goods
The Ministry of Economy and Finance has reduced customs duty exemption thresholds for personal imports to USD 1,000 by air and USD 500 by rail or river, while allowing up to 65 grams of jewellery worth up to USD 2,000 to be imported without
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Malaysia unveils venture capital incentives to spur startup investments
Venture capital funds investing 20% in local startups get a 5% tax rate for 10 years, while registered VC and PE management firms enjoy a 10% tax rate. Malaysia's government has introduced venture capital tax incentives to encourage startup
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Italy: Council of Ministers extends sugar tax suspension, lowers VAT on art and antiques
The effective date has been delayed from 1 July 2025 to 1 January 2026. Italy’s Council of Ministers approved a decree-law on 20 June 2025, delaying the sugar tax's effective date from 1 July 2025 to 1 January 2026. Additionally, the law
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US: Maine to broaden sales tax to include digital content
Maine's new budget law will impose a 5.5% sales tax on streaming platforms and digital services starting 1 January 2026. Maine Governor Janet Mills signed a new budget law (LD 210) on 23 June 2025, which expands the state’s sales tax to include
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Norway: Beneficial ownership registration rules take effect
While documentation of beneficial owners has been mandatory since 2021, the Act on the Register of Beneficial Owners, effective 1 October 2024, introduces a registration obligation starting 31 July 2025. Norway’s Ministry of Finance announced
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US: IRS offers tax relief to Missouri flood and storm victims
The tax filing and payment deadline has been extended to 3 November 2025 for Missouri taxpayers. The US Internal Revenue Service (IRS) issued MO-2025-01 on 25 June 2025, announcing tax relief for individuals and businesses in parts of Missouri
See MoreItaly clarifies tax credits for property refurbishments
Tax credits for qualifying expenses are 36% (50% for first dwellings) in 2025, and 30% (36% for first dwellings) in 2026-2027. Italy’s tax authorities have issued Circular No. 8/E on 19 June 2025, clarifying tax credits for property
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Slovak Republic consults financial transactions tax exemption for foreign entities, entrepreneurs
The draft bill exempts foreign subsidiaries/branches with prior taxable income under EUR 100,000 and individual entrepreneurs from the financial transactions tax. The Slovak Republic’s Ministry of Finance is consulting on a draft bill to narrow
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Finland: MoF consults reducing VAT rate
The Ministry is consulting on reducing the VAT rate from 14.0% to 13.5% for items such as food, transport, medicines, accommodation, and cultural activities. Finland's Ministry of Finance has initiated a consultation on 19 June 2025 regarding the
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Australia: NSW announces 2025-26 budget, makes BTR land tax concession permanent
From 2026, New South Wales will make the BTR land tax concession permanent and launch a critical minerals royalty deferral scheme to attract investment. Michael Coutts-Trotter, the Secretary of the New South Wales (NSW) Treasury, presented the
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Finland: Ministry of Finance consults mining mineral tax increase
The tax amount is based on the taxable value of the metal content in the ore, which is confirmed annually by the Finnish Tax Administration. The Ministry of Finance is requesting comments on a proposed amendment to the mining mineral tax. Under
See MoreUS: Washington expands B&O tax disclosure to cover investment income
Washington expands B&O Tax Voluntary Disclosure from July 2025 to cover unreported investment income with penalty relief. Washington State will expand its Business & Occupation (B&O) Tax Voluntary Disclosure Program to cover
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Poland: Council of Ministers approve draft law mandating national e-invoicing system (KSeF) from 2026
Poland’s Council of Ministers has approved a draft law mandating phased use of the National e-Invoicing System (KSeF) from 2026, with full rollout by 2027. The measure aims to streamline invoicing, reduce tax fraud, and accelerate VAT
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Thailand introduces reduced corporate income tax rate to promote SEZ investments
Thailand cuts corporate tax rate to 10% for qualifying businesses in Special Economic Zones for ten years under Royal Decree No. 797 starting 6 June 2025. The Thai Revenue Department has issued Royal Decree No. 797, dated 2 June 2025 and
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Belgium publishes draft XSD schema for Pillar Two top-up tax return
Belgium has issued a draft schema outlining how groups should file their Pillar 2 top-up tax return under the new QDMTT rules. Belgium’s tax authorities, Federal Public Service (FPS) Finance has issued a draft XSD schema for the annual
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