US: IRS enhances pre-filing agreement programme for large and multinational businesses
The IRS has improved its Pre-Filing Agreement programme to offer large businesses and international taxpayers greater tax certainty, emphasising cooperative strategies to prevent disputes early. The US Internal Revenue Service (IRS) issued
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OECD releases guide to help jurisdictions develop tax crime investigation manuals
The guide covers key development steps and provides country-specific examples of effective investigation methods. The OECD published a guide titled Designing a Tax Crime Investigation Manual: Key Elements and Considerations on 16 June
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OECD releases report on digitalisation of tax administration
The OECD report details tax administration's digitalisation and transformation efforts. The Organisation for Economic Cooperation and Development (OECD) has released a report, Tax Administration Digitalisation and Digital Transformation
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Malta: Revenue publishes overview of key 2025 income tax Act amendments
Malta’s Revenue outlines key 2025 income tax act amendments, covering deductions, tax bands and reliefs. Malta's Commissioner for Revenue published a memo on 13 June 2025 outlining amendments to the Income Tax Act (ITA) introduced by the Budget
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US: Senate Republicans propose ending EV tax credits
Senate Republicans push to eliminate key EV tax credits, proposing immediate reductions for leased imports and a complete phase-out within 180 days. US Senate Republicans introduced a tax and budget bill that would eliminate several electric
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Uganda presents 2025–26 budget, proposes income tax exemption for start-ups
Uganda's Ministry of Finance unveiled a UGX 72.136 trillion national budget for 2025-26. Uganda’s Ministry of Finance Planning and Economic Development has unveiled a UGX 72.136 trillion national budget for the 2025-26 financial year on 12
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Tanzania presents 2025-26 budget, introduces withholding tax and higher AMT
The budget speech highlighted key fiscal changes, which included a new withholding tax, higher alternative minimum tax, and VAT adjustments. Tanzania's Minister of Finance, Mwigulu Nchemba, has presented the 2025-26 Budget Speech to parliament on
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US: Senate Finance Committee Chairman releases finance committee reconciliation text
Senate Finance Chair Mike Crapo released draft legislation to make 2017 tax cuts permanent and cut green new deal spending in the GOP budget bill. US Senate Finance Committee Chairman Mike Crapo (R-Idaho) released legislative text within the
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South Africa: SARS issues updated guide and quick reference for advance tax rulings
SARS issues updated advance tax ruling guide and quick reference on application steps. The South African Revenue Service (SARS) has released the second edition of its guide to advance tax rulings on 11 June 2025. This guide offers guidance on
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Switzerland: Council of States ratifies crypto-asset and CRS agreements
Switzerland’s Council of States approved agreements to expand automatic tax information exchange to cover crypto-assets and updated reporting standards. The Swiss Council of States approved Switzerland’s ratification of the Multilateral
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Venezuela grants tax exemption on central bank securities
Venezuela exempts income tax on Central Bank securities for one year from 8 May 2025. Venezuela has enacted Decree No. 5,127, published in the Official Gazette Extraordinary No. 6,905 on 8 May 2025. The decree grants a one-year income tax
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Czech Republic considers amendments to Income Tax Act, plans R&D tax incentive boost
The amendments propose abolishing withholding tax, removing the CZK 40 million capital gains cap, and increasing R&D allowances. The Czech Republic’s Chamber of Deputies is reviewing a draft legislation on the"Act on Single Monthly Employer
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Kenya: National Treasury publishes budget statement 2025-26, reduces corporate and digital tax rates
Kenya's National Treasury has released the 2025-26 Budget Statement on 12 June 2025. Kenya's National Treasury published the 2025-26 Budget Statement on 12 June 2025, outlining key tax measures aligning with proposals highlighted in the 2025
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OECD publishes framework to assess revenue potential of country-specific tax reforms
The OECD released a new working paper outlining the Domestic Resource Mobilisation (DRM) Framework, highlighting tax policy measures and estimating their potential to increase tax revenues in low- and middle-income countries. The OECD published a
See MoreUS: Treasury releases list of boycott-participating countries with no changes
The U.S. Treasury released a list of countries on 10 June 2025 that may require participation in an international boycott. These countries include Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, and Yemen. The US Treasury issued a
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UK: HM Treasury updates carried interest tax policy ahead of 2026 changes
The UK’s HM Treasury released its Government Response and Policy Update on 5 June 2025, addressing the tax treatment of carried interest following a consultation. The UK’s HM Treasury published its Government Response and Policy Update
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Singapore: IRAS issues advance ruling on taxation of IP transfers
IRAS has ruled that payments received by a Singapore company for transferring Improvement IP to a related party are non-taxable capital receipts as part of a group restructuring. The Inland Revenue Authority of Singapore (IRAS) has released
See MoreUS: CRS publishes report on enforcing remedies for unfair foreign tax practices
The US House of Representatives passed the One Big Beautiful Bill Act on 22 May 2025, now with the Senate. A key tax measure includes adding section 899, "Enforcement of Remedies Against Unfair Foreign Taxes," to the Code. The US Congressional
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