Denmark: Parliament approves green depreciation in tax reform
Denmark raises depreciation rate for eco-friendly investments to 108% for 2025–2026. Denmark's parliament passed Bill L 195 on 3 June 2025, modifying the Depreciation Act to reflect the government's earlier decision to boost tax deductions for
See More
Germany unveils tax boost package to revive investment and growth
Germany unveils tax reform package with super deductions and lower corporate tax to boost investment and competitiveness. The Federal Cabinet adopted the draft law for a tax-based immediate investment program to strengthen Germany as a business
See More
Bolivia becomes 172 member of Global Forum on Transparency and Exchange of Information for Tax PurposesÂ
Bolivia becomes the 172nd member of the Global Forum on Transparency and Exchange of Information for Tax Purposes. The OECD announced on 4 June 2025 that Bolivia has joined the Global Forum on Transparency and Exchange of Information for Tax
See More
Australia: ATO issues updated monthly FX rates for 2024–25, including April and May 2025
The ATO updated its guidance on monthly exchange rates for the 2024-2025 financial year, including rates for April and May 2025, on 5 June 2025. The Australian Taxation Office (ATO) updated its guidance on monthly exchange rates from 1 July 2024
See More
OECD report highlights tax transparency progress in Latin America
The OECD has published the "Tax Transparency in Latin America 2025" report, showcasing progress in regional efforts to enhance tax transparency and combat tax evasion and illicit financial flows in Latin America. The OECD has announced the
See More
Gabon: Council of Ministers ratifies BEPS MLI and mutual assistance convention
Gabon approved the ratification of the Multilateral Convention to Prevent Base Erosion and Profit Shifting (MLI) on 30 May 2025. Gabon's Council of Ministers approved ratifying the Multilateral Convention to Prevent Base Erosion and Profit
See More
New Zealand lowers interest rates on tax underpayments and overpayments
New Zealand Inland Revenue updated the UOMI Rates on 28 May 2025. Underpayment rates drop to 9.89% (from 10.88%), and overpayment rates decrease to 3.27% (from 4.30%). The New Zealand Inland Revenue has published the revised Taxation (Use of
See More
South Africa: SARS lowers interest rate for taxation on interest-free and low-interest loans
SARS lowers official interest rate for fringe benefits on employer loans from 8.50% to 8.25%, effective 1 June 2025. The South African Revenue Service (SARS) has announced a reduction in the official interest rate used to calculate fringe
See More
Vietnam issues new guidance on e-invoices and tax compliance
Vietnam updated regulations on e-invoices, taxpayer risk assessment, and invoicing procedures for business models, effective 1 June 2025. Vietnam’s Ministry of Finance released Circular 32/2025/TT-BTC on 31 May 2025, offering updated guidance
See More
Italy: Finance ministry updates synthetic reliability indices
Italy’s finance ministry issued a ministerial decree on 28 May 2025, updating the synthetic indices of reliability (ISA) for the 2024 fiscal year.  Italy’s Ministry of Economy and Finance has published the Ministerial Decree of 24 April
See More
Belgium: Government proposes stricter participation exemption rules and exit tax extension
Belgium’s Chamber of Deputies is reviewing draft legislation by the government on 27 May 2025 to implement tax reforms proposed in the government policy note. Belgium’s Chamber of Deputies is reviewing a draft legislation presented by the
See More
South Africa: SARB reduced repo rate by 25 basis points
The SARB has cut the repo rate by 25 basis points to 7.75%, effective 30 May 2025. The South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has decided to reduce the repo rate by 25 basis points, with effect from 30 May
See More
Singapore: IRAS exempts PEHE foreign disposal gains under Advance Ruling 7/2025
Singapore’s IRAS confirms that pure equity-holding entities meeting economic substance requirements will be exempt from tax on foreign-sourced disposal gains under Advance Ruling 7/2025. Singapore’s IRAS has issued Advance Ruling Summary
See More
Ecuador: SRI implements new remittance tax filing rules for card transactions
Ecuador’s tax authority now requires annual filings for taxpayers exceeding the foreign currency outflows tax (ISD) exemption on card transactions, including retroactive payments from 2022 to 2024. Ecuador’s Internal Revenue Service (SRI)
See More
Australia: Tasmania unveils 2025–26 budget, abolishes stamp duty for first home buyers
The 2025-26 budget introduces no new taxes or changes to existing ones. Its key initiative is removing stamp duty for first home buyers in Tasmania on homes up to AUD 750,000. Guy Barnett, Treasurer and Deputy Premier of Tasmania, presented the
See More
New Zealand enacts 2025 budget, includes investment boost and Kiwisaver reforms
Taxation (Budget Measures) Act 2025 was published in the Official Gazette on 29 May 2025. New Zealand published the Taxation (Budget Measures) Act 2025 in the Official Gazette, after it received royal assent on 29 May 2025. The Taxation
See More
OECD report reveals decline in tax revenue relative to GDP in Latin America and the Caribbean
The OECD’s 2025 report on Latin America and the Caribbean reveals a slight drop in tax revenue as a share of GDP in 2023. The OECD has published its 2025 report on Revenue Statistics in Latin America and the Caribbean, revealing a recovery in
See MoreSingapore: IRAS updates GST concession guide for Singapore-listed REITs and business trusts
The Inland Revenue Authority of Singapore has updated its e-Tax Guide to clarify GST concession procedures for listed REITs and Business Trusts, confirming that separate claims statements are no longer required unless requested and extending the
See More