Egypt launches tax reform to simplify compliance and support business growth
Egypt’s Ministry of Finance launched a tax reform initiative aimed at simplifying administrative procedures, expanding the taxpayer base, and creating a more supportive environment for businesses. The reforms were developed in collaboration with
See More
Sweden plans reforms to R&D and expert tax incentives
Sweden is set to revise its research and development (R&D) tax incentives and expert tax relief rules to simplify administration and expand access. A government report has proposed key changes, expected to take effect on 1 January 2026. For
See More
Germany updates tax haven defense ordinance, removes five jurisdictions
Germany published the Third Ordinance amending the Tax Haven Defense Ordinance in the Official Gazette on 30 December 2024. The amendments reflect the EU Economic and Financial Affairs Council's 2024 decisions to remove Antigua and Barbuda, the
See More
Japan, Zambia sign investment agreement
The “Agreement between Japan and the Republic of Zambia for the Promotion and Protection of Investment” (Japan-Zambia Investment Agreement) was signed in Tokyo by H.E. Mr. TAKEUCHI Kazuyuki, Ambassador Extraordinary and Plenipotentiary of Japan
See More
Ireland: Revenue updates guidance on Residential Zoned Land Tax
Irish Revenue has released eBrief No. 031/25 on 4 February 2025, providing updated guidance on the Residential Zoned Land Tax (RZLT). The Residential Zoned Land Tax (“RZLT”) was introduced by section 80 of the Finance Act 2021 and is
See More
UK: HMRC late payment interest rates to be revised after Bank of England lowers base rate
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has announced a reduction in interest rates for late payments and repayments following the Bank of England's base rate cut on 6 February 2025. The base rate was lowered from 4.75%
See More
UAE: MoF launches public consultation on e-Invoicing data dictionary
The UAE Ministry of Finance (MoF) has launched a public consultation on the data dictionary for electronic invoicing (e-invoicing). The consultation period will remain open until 27 February 2025. It is a structured form of invoice data that
See More
France approves 2025 Finance Law with new tax measures
The French Senate approved the Finance Law for 2025 on 6 February 2025, following approval by the National Assembly on 5 February. With both chambers' approval, the law is adopted, pending constitutional review. The law includes the indexation of
See More
OECD consults Tax Incentives Principles
The Platform for Collaboration on Tax (PCT), under the Organisation for Economic Co-operation and Development (OECD), has initiated a public consultation draft titled “Tax Incentives Principles” on 10 December 2024. The consultation draft seeks
See More
Saudi Arabia: ZATCA issues guidance on real estate transaction tax for BOOT contracts
The Saudi Arabian Zakat, Tax, and Customs Authority (ZATCA) provided new guidance regarding Real Estate Transaction Tax (RETT) for Build-Own-Operate-Transfer (BOOT) contracts on 25 January 2025. The rules specify that immovable assets such as
See More
Sri Lanka, UAE finalise investment protection agreement
Sri Lanka and UAE have finalised an agreement on reciprocal promotion and protection of investments between the two countries. This announcement was made by the Ministry of Foreign Affairs, Foreign Employment and Tourism on 3 February 2024. The
See More
Ukraine revises tax haven list in Resolution
The Ukrainian Ministry of Finance issued Resolution No. 1505 on 4 February 2025 , revising the list of tax havens for transfer pricing purposes. List of states (territories) that meet the criteria established by subparagraph 39.2.1.2 of
See More
Taiwan proposes extension of tax refund claim period under income tax treaties
Taiwan’s Ministry of Finance (MOF) has proposed a draft amendment to extend the tax refund application period under income tax treaties from five years to ten years. This change aims to streamline regulations and provide taxpayers with
See More
Bosnia and Herzegovina implements new excise duty rates on tobacco products
As of 1 January 2025, Bosnia and Herzegovina will introduce revised excise duty rates on manufactured tobacco. The changes, proposed by the governing board of the Indirect Taxation Authority in December 2024, will affect both specific and ad
See More
UAE: FTA offers penalty exemption for tax record updates by 31 March 2025
The UAE Federal Tax Authority has issued a notice on 4 February 2025 encouraging taxpayers to update their records by 31 March 2025, allowing them to benefit from a penalty exemption during the grace period. The Federal Tax Authority (FTA) has
See More
South Africa: SARS updates interest rate for taxation of low-interest loans
The South African Revenue Service (SARS) has announced a reduction in the official interest rate Table 3 for taxation on interest-free or low-interest loans, lowering it from 8.75% to 8.50%, effective 1 February, 2025. This change follows a
See More
UK: HMRC Releases 2025-2026 employer rates and PAYE tax thresholds
The UK HMRC has issued guidance on employer rates and thresholds for the 2025-2026 tax year, covering the period from 6 April 2025 to 5 April 2026 on 31 January 2025. This covers the PAYE tax rates and thresholds for 2025-2026 for England,
See More
OECD analyses EU CBAM impact on supply chains
The OECD released its working paper "Carbon Border Adjustments: The potential effects of the EU CBAM along the supply chain" on 29 January 2025. This paper analyses the impact of the EU's Carbon Border Adjustment Mechanism (CBAM) on global trade
See More