Bangladesh, US to hold final tariff negotiations before August 25
Bangladesh and the US to hold final tariff negotiations next week to avert 35% export duty. Bangladesh will commence a third and final round of negotiations with the US next week to avert a 35% tariff on its exports, scheduled to take effect on 1
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Netherlands : Senate approves box 3 Rebuttal scheme
The Dutch Senate approved the Box 3 Rebuttal Scheme on 8 July 2025, allowing taxpayers to prove actual returns on savings and investments. The Dutch Senate approved the Box 3 Rebuttal scheme on 8 July 2025, allowing taxpayers to prove the actual
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UAE: FTA offers penalty waiver for late tax registration
The FTA clarified conditions for waiving or refunding penalties for late corporate tax registration, requiring returns or declarations to be filed within seven months of the first tax period. The UAE Federal Tax Authority (FTA) has released
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Kenya reduces market rates for fringe benefit tax, non-resident loans
For July to December 2025, the rate has been reduced to 8% (from 9%), and the low-interest loan benefit rate has dropped to 9% (from 14%). The Kenya Revenue Authority (KRA) released a public notice on 10 July 2025 regarding updates to the market
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Bulgaria to adopt the euro from 2026
Bulgaria will adopt the euro starting 1 January 2026, replacing the lev at a fixed rate after meeting EU criteria. Bulgaria will officially adopt the euro as its currency on 1 January 2026, becoming the 21st member of the eurozone. The decision
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Japan, Iran Customs Mutual Assistance Agreement enters into force
Japan and Iran’s Customs Mutual Assistance Agreement entered into force on 18 June 2025, following its signing on 22 August 2021. The Customs Mutual Assistance Agreement (CMAA) between Japan and Iran entered into force on 18 June 2025. This
See MoreBangladesh begins second-round of negotiations with US to avert 35% tariff on exports
The second-round talks are being held at Washington from 9–11 July 2025. Bangladesh has started the second round of negotiations with the US in Washington, DC, from 9 to 11 July 2025, in an effort to stop the implementation of a proposed 35%
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US to impose 35% tariff on Bangladeshi exports from August
US to apply 35% tariff on Bangladeshi exports from 1 August, raising concerns for the country’s key garment sector. The US will impose a 35% tariff on imports from Bangladesh starting 1 August 2025, following an announcement by President Donald
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US to impose 25% tariffs on Japan, Korea (Rep.) from August 2025
Trump announced new tariffs on Japan and Korea (Rep.), urging trade negotiations before 1 August. US President Donald Trump announced a 25% tariff on all imports from Japan and Korea (Rep.) on 8 July 2025, due to take effect on 1 August. The
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US to impose 20% tariff on Vietnamese exports
The US will impose a 20% tariff on many Vietnamese exports, with trans-shipped goods facing 40%. President Donald Trump announced on 2 July 2025 that the US will apply a 20% tariff on many Vietnamese exports instead of the previously proposed
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Uganda: President signs broad tax reform bills, effective July 2025
The President approved the amendment of several taxation bills, introducing reforms to enhance revenue collection, starting 1 July 2025. Uganda’s President assented to several tax amendment bills on 30 June 2025, which will take effect on 1
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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,
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Australia: Capital Territory announces 2025-26 budget, includes conveyance duty concessions
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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