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
See More
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
See More
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
See More
US: 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
See More
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
See More
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 More
Vietnam launches new tax rules for e-commerce and digital platform sellers
Starting 1 July 2025, Vietnam requires e-commerce platforms to withhold and pay taxes on behalf of sellers. The Vietnamese Government issued Decree No. 117/2025/ND-CP on 9 June 2025, introducing new regulations to manage tax obligations for
See More
Italy: Council of Ministers approves amendments to tax reform
Italy approved a new Legislative Decree on June 4, 2025, updating tax compliance, litigation, penalties, and the 2-year preventive composition procedure (CPB). Italy’s Council of Ministers has approved a Legislative Decree on 4 June 2025, which
See More
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
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
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
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
Bangladesh: Interim Government announces 2025-26 national budget
The government’s growth forecast of 5.5% falls below the IMF’s estimate, signalling a shift away from chasing ambitious GDP targets and mega projects. The budget is set at BDT 7,90,000 crore, with a revenue budget of BDT 5,74,000
See MoreGermany plans 10% tax on digital services from tech giants
Germany is drafting legislation for a 10% tax on major digital platforms like Google and Facebook. Germany’s Minister of State for Culture, Wolfram Weimer, has announced that the government is preparing draft legislation to introduce a 10%
See More
India: Government restores RoDTEP benefits for AA, SEZ, and EOU exports
 India restores RoDTEP benefits for AA, EOU & SEZ exporters from 1 June 2025 to boost competitiveness. The Government of India has announced the restoration of benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP)
See More