Netherlands: Government presents second amendment to 2025 Tax Plan to the parliament
The Netherlands government presented the second amendment bill to the 2025 Tax Plan to parliament. Travel expenses deduction for illness Taxpayers can deduct EUR 0.23/km for medical travel and pharmaceutical aids. Taxpayers are also allowed to
See More
UK announces 2024 autumn budget
The UK autumn budget announcements were delivered today, 30 October 2024. Corporation tax The main rate of corporation tax will stay at 25% until the next election. National insurance National Insurance contributions for employers is to
See More
Malta announces new tax measures for 2025 budget
Malta’s finance minister, Clyde Caruana, presented the 2025 budget in the parliament on Monday, 28 October 2024. The 2025 budget includes the following proposed tax measures: Global minimum tax rate Malta has decided to delay the adoption
See More
UK: 2024-25 budget anticipation results in GBP 300 billion in bond issuance amid tax hikes and borrowing, stocks fall as energy shares slide
UK finance minister Rachel Reeves is expected to announce the highly anticipated 2024-25 budget plan to the parliament today, 30 October 2024. The budget includes the first significant tax hikes in three decades and billions of pounds in
See More
Portugal proposes several VAT measures in draft state budget law 2025
Portugal released the state budget law for 2025 (Law No. 26/XVI/1) on 10 October 2024, proposing various VAT measures. The draft Budget Law for 2025 proposes reduced corporate tax rates for companies and SMEs and revised personal income tax rates,
See More
France: Finance Committee approves amendment on tax residency for citizens residing abroad
The Finance Committee of the French National Assembly has approved an amendment to the 2025 Finance Bill that changes tax residency rules for individuals. This amendment introduces a "targeted universal tax" mechanism for French citizens who move
See More
Dominican Republic withdraws fiscal reform plan
Dominican President Luis Abinader announced the withdrawal of the draft Law on Fiscal Modernization from the legislative agenda of the National Congress because of insufficient consensus among various social groups and the government on Monday, 21
See More
Lithuania proposes higher tax-exempt income for PIT in 2025 budget
Lithuania’s Ministry of Finance submitted the draft Budget for 2025 to the parliament on 16 October 2024 which includes proposed amendments to the Law on Personal Income Tax, among other tax provisions. The proposal outlines an increase in the
See More
UK enacts Budget Responsibility Act 2024
The UK Treasury implemented the Budget Responsibility Act 2024 on 15 October 2024, ensuring that when they announce “fiscally significant” measures, they are subject to an independent assessment by the Office for Budget Responsibility
See More
Italy: 2025 budget draft expands DST for all providers, introduces solidarity contribution for banks and insurance companies
Italy’s 2025 budget draft will be introducing several tax measures to reduce the tax burden for employees and pensioners. The Council of Ministers approved the draft Budget Law for 2025 during its meeting on Tuesday, 15 October 2024. These
See More
Portugal proposed reduced corporate tax rates in draft 2025 budget law
Portugal’s Finance Minister submitted the draft Budget Law for 2025 (Draft Law No. 26/XVI/1) to parliament on 10 October 2024, proposing reduced corporate tax rates for companies and SMEs and revised personal income tax rates and other tax
See More
Latvia approves 2025 Budget draft law: Increase of EUR 583.2 billion projected revenue
Latvia’s Cabinet of Ministers approved the draft law on the 2025 State Budget and the budgetary framework for 2025, 2026 and 2027 with various tax amendments on 15 October 2024. The consolidated national budget revenue for 2025 is planned at
See More
Malaysia likely to introduce subsidy cuts, new taxes in 2025 budget
Malaysia’s Prime Minister Anwar Ibrahim will announce the 2025 budget in parliament on Friday, 18 October 2024. Analysts and economists suggest the government is likely to implement additional new taxes and reduce subsidies for its 2025 budget,
See More
UK: Starmer rejects claims of 39% capital gains tax hike
British Prime Minister Keir Starmer has rejected claims that capital gains tax could rise to 39% in this month’s budget, calling the speculation "wide of the mark," in an interview with Bloomberg Television at an investment summit in
See More
Ireland publishes Finance Bill 2024: Implements taxation changes announced on Budget Day
Ireland's Minister for Finance, Jack Chambers TD, has published the Finance Bill 2024 and Explanatory Memorandum following the Government's approval earlier in the week. The Bill enacts key measures from Budget 2025, alongside a series of
See More
Norway proposes changes to exit taxes in 2025 Budget
Norway’s government has proposed amendments to the exit tax regulations in the National Budget 2025, which was announced on 7 October 2024. In practice, the current exit tax rules function as a tax loophole. The Government wants to close this
See More
France: Finance Bill 2025 proposes new corporate and personal income tax regime
The French government presented the Finance Bill 2025 during a press conference in Paris on Thursday, 10 October 2024, with the goal of reducing the deficit from 6.1% of GDP this year to 5% next year. To achieve this, the government plans to
See More
Norway announces 2025 budget, lowers tax and VAT rates
Norway’s government presented the 2025 Budget Bill, on 7 October 2024, with the aim to enhance the financial well-being of Norwegians, strengthen Norway's preparedness against war and crime, and reduce social and geographical
See More