Malawi announces 2025-26 budget, cuts corporate tax for non-resident firms
Malawi's Minister of Finance Simplex Chithyola Band presented the 2025-26 Budget Statement on 28 February 2025. The budget, totaling MWK 8 trillion, aims to stabilise the economy in the face of sluggish GDP growth, soaring inflation, and mounting
See MoreOECD: Report on Simplified Peer Review of Iceland under BEPS Action 14
On 4 March 2025 the OECD issued a stage one simplified peer review report on Iceland under BEPS action 14. The report sets out the results of Stage 1 of the simplified peer review of the implementation of the minimum standard on making dispute
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Germany releases income tax decree on crypto assets, expanding guidance on filing and reporting
The German Ministry of Finance (MOF) released an updated decree on the income tax treatment of crypto assets on 6 March 2025, replacing the previous version from May 2022. A crypto-asset is the digital representation of a value or of a right that
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Kuwait updates UBO regulations with stricter penalties and expanded exceptions
Kuwait's Ministry of Commerce and Industry has issued Decision No. 16 of 2025, updating the country's regulations on Ultimate Beneficial Ownership (UBO). This decision builds on Resolution 4/2023, which took effect on 1 April 2023, and introduced
See MoreOECD: Report on Simplified Peer Review of Peru under BEPS Action 14
On 4 March 2025 the OECD issued a stage one simplified peer review report on Peru under BEPS action 14. The report sets out the results of Stage 1 of the simplified peer review of the implementation of the minimum standard on making dispute
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EU: Working Party to discuss clean industry deal and draft energy tax reform
The European Union (EU) Working Party on Tax Questions (Indirect Taxation—Excise Duties/Energy Taxation) unveiled its provisional agenda on 5 March 2025, ahead of its upcoming meeting on 1 April 2025. The Working Party prepares the Economic and
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Ukraine: Central Bank raises key policy rate
The Board of the National Bank of Ukraine (NBU) has decided to raise the key policy rate from 14.5% to 15.5% per annum and to adjust the operational framework parameters of its interest rate policy. The key policy rate is applied to calculate
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Papua New Guinea plans major tax reforms after hitting economic goals
Papua New Guinea's Prime Minister James Marape announced tax reforms on 7 February 2025. These tax reforms will take effect once Papua New Guinea's economy reaches a K150 billion milestone, a target expected to be achieved within the next three to
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Kazakhstan: National Bank further raises base interest rate
The National Bank of Kazakhstan (NBK) announced a further increase in the base interest rate from 15.25% to 16.5% on 7 March 2025. The new rate takes effect starting today, 11 March. The Monetary Policy Committee of the National Bank of
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UAE issues decision on tax review deadline extensions
The UAE Federal Tax Authority issued Decision No. 1 of 2025 on 17 February 2025. The decision takes effect on 1 March 2025. It sets out the conditions for extending or rejecting requests for tax assessment reviews and reconsiderations. The
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Bolivia delays e-invoicing deadline for some taxpayers
Bolivia’s Tax Authority (SIN) has announced an extension for taxpayers in groups 9 to 12 to begin issuing e-invoices. This extension is outlined in three resolutions—RND 102500000008, RND 102500000009, and RND 102500000010. The new
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Philippines resumes e-invoicing expansion
The Philippines' tax administration (BIR) issued Revenue Resolution 11-2025 on 27 February 2025, announcing the expansion of the electronic invoicing (e-invoicing) system. The Philippines' e-invoicing mandate requires taxpayers to issue invoices
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Mozambique: President announces new tax proposals in inauguration speech
Mozambique's new president, Daniel Chapo, announced new tax measures, including renegotiating deals with foreign investors, in his inauguration speech on 15 January 2025. The measures aim to eliminate poverty and improve the country's business
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UK companies house and HMRC to terminate combined online filing service
The UK Companies House has announced on 6 March 2025Â that the joint filing service with HMRC will cease on 31 March 2026. Starting 1 April 2026, businesses will be able to submit their annual accounts to Companies House via third-party software,
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UK: Finance Bill 2025 moves to House of Lords for final approval
UK’s Finance Bill 2024-25 has now moved to the House of Lords, where it had its first reading on 4 March. The Bill has passed through the House of Commons where MPs debated during the report stage on 3 March 2025, approving 66 amendments
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UK: HMRC opens consultation on inheritance tax changes for trust property
The UK tax authority,His Majesty's Revenue and Customs (HMRC) has launched a consultation on the application of inheritance tax changes to property settled into trust on 27 February 2025. At Autumn Budget 2024, the government announced several
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UK: HMRC updates R&D tax relief guidance on qualifying expenditure and subcontracted activities
The UK tax authority, His Majesty's Revenue and Customs (HMRC) has revised its guidance in the Corporate Intangibles Research and Development Manual regarding qualifying expenditure and subcontracted activities for research and development (R&D)
See MoreUK introduces reserved investor fund with tax-transparent status
The UK Government published the final Co-ownership Contractual Schemes (Tax) Regulations 2025 on 25 February 2025, introducing the Reserved Investor Fund (RIF), effective from 19 March 2025. The RIF is an unauthorised contractual scheme designed for
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