Ecuador grants tax amnesty for pre-2025 debts under integrity law
Ecuador’s new tax cancels interest and fines on debts before 31 December 2024, if the principal is fully paid by year-end. Ecuador has enacted a tax amnesty that cancels interest and fines on tax debts incurred before 31 December
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US: Senate bill accelerates phaseout of renewable tax credits, introduces new levy
The US Senate's upcoming budget bill aims to eliminate wind and solar tax credits from 2005 and introduce a new tax on projects with Chinese components starting after 31 December 2027. The US Senate's latest budget bill, set for a potential vote
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Nigeria: President approves four new tax reform bills
The new legislation comprises the Nigeria Tax Act, the Nigeria Tax Administration Act, the National Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act. Nigeria’s President Bola Tinubu has signed four major tax
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OECD responds to G7 statement on US exemption from global minimum tax
The G7's side-by-side arrangement aims to limit corporate tax competition, protect government tax bases, and provide businesses with stable, predictable international tax frameworks. The OECD Secretary-General issued a statement on 28 June 2025
See MoreUS: Trump’s ‘One Big Beautiful Bill’ advances in the Senate with amendments
The amended text temporarily raises the SALT cap to USD 40,000, accelerates the phase-out of green energy credits, and eliminates proposed Tax Code Section 899 on foreign tax remedies. The Senate Budget Committee Chairman, Lindsey Graham,Â
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Australia: Capital Territory announces 2025-26 budget, includes conveyance duty concessionsÂ
The ACT's 2025-26 Budget focuses on tax reform, including reduced conveyance duties, increased land tax exemptions, new thresholds for general rates, a short-term rental levy, and adjusted motor vehicle duty for zero-emission vehicles. The
See MoreUS to drop ‘Unfair Foreign Taxes’ from budget bill, G7 to exempt US companies from Pillar Two
The US Treasury and G7 nations agreed to exempt US companies from Pillar Two taxes in exchange for removing section 899 from the "One Big Beautiful Bill". US Treasury Secretary Scott Bessent announced, on 27 June 2025, that the US has reached
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Greece consults draft tax and customs law amendments
The draft tax law introduces changes affecting crew taxation, hospitalisation benefits, and electronic rent payments. The Greek Ministry of Finance launched a public consultation on a draft law on 24 June 2025. The law introduces various tax
See MoreAustralia: NSW announces 2025-26 budget, makes BTR land tax concession permanent
From 2026, New South Wales will make the BTR land tax concession permanent and launch a critical minerals royalty deferral scheme to attract investment. Michael Coutts-Trotter, the Secretary of the New South Wales (NSW) Treasury, presented the
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Finland: Ministry of Finance consults mining mineral tax increase
The tax amount is based on the taxable value of the metal content in the ore, which is confirmed annually by the Finnish Tax Administration. The Ministry of Finance is requesting comments on a proposed amendment to the mining mineral tax. Under
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US: Washington expands B&O tax disclosure to cover investment income
Washington expands B&O Tax Voluntary Disclosure from July 2025 to cover unreported investment income with penalty relief. Washington State will expand its Business & Occupation (B&O) Tax Voluntary Disclosure Program to cover
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Russia expands tax-free zone to bryansk border areas
Russia has extended its Free Economic Zone regime to parts of the Bryansk region bordering occupied Ukrainian territories, granting tax and customs benefits until the end of 2050. Russia has issued Government Resolution No. 854 on 11 June 2025,
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Saudi Arabia extends deadline for retroactive zakat applications
Saudi Arabia has extended the deadline for zakat payers to apply the Executive Regulations to prior fiscal years, giving more time for compliance. Saudi Arabia has extended the deadline for zakat payers to apply the Executive Regulations for the
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Bangladesh: Interim government passes national budget for FY26
With the country still under interim rule and no sitting parliament, the FY26 budget will be implemented via a presidential ordinance. The interim government of Bangladesh on Sunday, 22 June, passed a BDT 7.9 lakh crore national budget for the
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Bangladesh updates renewable energy policy, offers 10-year corporate tax exemption
Bangladesh updates its Renewable Energy Policy, introducing tax incentives and new measures to boost green power generation by 2030. The government of Bangladesh released its updated Renewable Energy Policy 2025 on 16 June 2025, setting a target
See MoreUS: Auto prices set to rise as tariffs impact sales and EV market
US car buyers face USD 1,760 higher prices due to tariffs. US car buyers are expected to face an average price increase of USD 1,760 per vehicle due to USD 30 billion in tariffs introduced under President Donald Trump. Automakers are passing
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Latvia consults draft law on mandatory e-invoicing
The draft is aligned with EU digital reporting standards and establishes technical requirements, submission procedures, and a phased implementation schedule. The Latvian Cabinet has launched a public consultation on a draft regulation outlining
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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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