Argentina: Budget Bill 2025 proposes scrapping foreign currency purchase taxย
The Argentine National Executive Branch presented the 2025 Budget Bill to Congress, which made no significant changes to the current tax framework except for eliminating the tax on foreign currency purchases (PAIS tax rate) starting 1 January
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Japan, UAE initiates negotiations for CEPA
Japanโs Ministry of Foreign Affairs announced that it has launched negotiations with Japan for a comprehensive economic partnership agreement (CEPA) on 18 September 2024. โI hope that concluding an ambitious, balanced, and comprehensive EPA
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Finland presents 2025 Budget proposal to the parliament
Finlandโs Ministry of Finance submitted its proposal for the 2025 Budget and other related legislative proposals to the Parliament on 23 September 2024. The budgetโs central government expenditure amounts to EUR 88.8 billion and revenue to EUR
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Ireland releases pre-filing notification forms for R&D corporation tax credit
Irish Revenue has published eBrief No. 239/24, announcing the release of pre-filing notification forms for the R&D Corporation Tax Credit on 13 September 2024. The R&D Corporation Tax Credit pre-filing notification forms in respect of
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UK: HMRC issues new guidance for non-UK companies involved in property sector
The UK tax authority, His Majesty's Revenue and Customs (HMRC), has released new guidance for non-UK resident companies involved in the property sector within the United Kingdom on 17 September 2024. This update is particularly important for
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Spain: Council of Ministers approve crypto-asset reporting framework
The Spanish Council of Ministers approved a draft bill to implement the Amending Directive to the 2011 Directive on Administrative Cooperation (2023/2226) DAC8 โ which integrates the OECD's crypto-asset reporting framework (CARF) into the
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Poland to present 2024 budget changes due to floods in two weeks
Devastating floods have afflicted Poland since 22 September 2024, prompting the government to introduce changes to the 2024 budget. According to Finance Minister Andrzej Domanski, the government will make necessary changes to the budget within two
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Germany: Tax revenue grows 5.3% in August
Germany's federal and state governments' tax revenue rose 5.3% in August when compared to the same month last year, said the finance ministry on Friday, 20 September 2024. According to the ministry's monthly report, tax revenue collected by
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Greece announces initiatives to boost startup investments and mergers
The Greek government has announced changes to its Golden Visa programme in an attempt to boost the startup ecosystem and provide new investment opportunities. A residence permit (similar to the Golden Visa) will be awarded to non-resident
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Sweden presents Budget Bill 2025ย
The Swedish government presented its 2025 Budget Bill on 19 September 2024. This year, the government aims to shift its economic policy focus from fighting inflation to investing in long-term growth and security for a more prosperous and safer
See MoreGreece abolishes stamp duty, introduces digital transaction tax
The Greek government has enacted a new law that removes stamp duty and introduces a digital transaction tax on 16 September 2024. This fee will apply to Greek residents and permanent establishments for various transactions, such as loans,
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Iceland consults for 2025 budget billย
Icelandโs Budget Committee convened on 16 September 2024 to discuss the 2025 Budget Bill, which is now open for public consultation for comments until 3 October 2024. On 13 September 2024, the 2025 Budget Bill was approved in the parliament
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Turkey revises special consumption tax for certain tobacco products
Turkeyโs government has introduced changes to the special consumption tax (SCT) rates and fixed tax amounts for certain tobacco products through Presidential Decree No. 8958, published in the Official Gazette No. 32662 on 14 September 2024. The
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Lithuania: President approves law to end tax treaty with Russia
Lithuaniaโs President, Gitanas Nausฤda, approved a draft law for terminating the 1999 tax treaty with Russia, which was submitted to the parliament for consideration on Monday, 16 September 2024. According to the treaty's stipulations, a
See MoreUK enacts Budget Responsibility Act 2024
The UK Budget Responsibility Act 2024 received royal assent on 10 September 2024. The legislation stipulates that the Office for Budget Responsibility (OBR) must analyse any proposed Government measure deemed "fiscally significant," as well as
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OECD Policy Brief Examines Incentives for Innovation
An OECD Policy Brief of 17 September 2024 examined government support for innovation and how this can be directed towards priority objectives. The policy brief uses recent evidence on how governments direct financial support to innovation, based on
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Netherlands reveals 2025 budget and tax planย
Netherlandsโ State Secretary for Tax Affairs and the Tax Administration, Folkert Idsinga, presented the 2025 Budget including the 2025 Tax Plan to the House of Representatives on Tuesday, 17 September 2024. The package contains a range of
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Colombia: Government to stand firm on 2025 budget value
Colombia's Finance Minister Ricardo Bonilla says that the proposed 2025 budget will remain at COP 523 trillion (approximately USD 123.9 billion) in an interview with Reuters on Tuesday, 17 September 2024. Earlier, Congress had refused to approve
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