Russia: Parliament proposes VAT reduction on food products
This proposed legislation aims to lower the VAT rate on certain food items from 10% to 5%. Russia’s parliament has proposed draft law No. 955850-8, which seeks to reduce the VAT rate on specific food products from 10% to 5%. The initiative aims
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Belgium extends 6% VAT rate for residential demolition and reconstruction pending legal implementation
Due to a delay in the approval of the reform law, the standard 21% VAT rate will apply from 1 July 2025, with a potential adjustment to 6% once the law is enacted. Belgium's Federal Public Service (SPF) Finance announced on 10 July 2025 that the
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Romania 2025–28 tax reforms include increased VAT, dividend tax
The proposed draft bill aims to simplify VAT rates from three (19%, 9%, and 5%) to two, starting 1 August 2025. Romania’s government submitted an amended draft bill to parliament on 4 July 2025, proposing changes to the VAT provisions of the
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Tanzania enacts 2025-26 budget measures, includes new transfer pricing penalty
The measures will apply from 1 July 2025, unless otherwise specified. Tanzania's Finance Act 2025 was enacted on 30 June 2025, implementing tax measures from the 2025-26 Budget Speech with some adjustments to the initially announced
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Slovak Republic: Parliament rejects proposal to cut VAT rate
The bill aimed to cut VAT from 23% to 20%. The Slovak Republic parliament has turned down several bills, including measures to reduce VAT rates. The bill proposed lowering the standard VAT rate from 23% to 20%. This means the planned change,
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Poland: Parliament approves amendments to the CIT Act, VAT exemption threshold increase
Poland's Sejm approved amendments to the Corporate Income Tax Act and raised the VAT exemption threshold during sessions from 24-26 June 2025. Poland’s lower chamber of the parliament (Sejm) approved amendments to the Corporate Income Tax (CIT)
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Slovak Republic: President signs DAC8, excise duty, and tax rate amendments
The President signs DAC8 bill, streamlines excise registration, standardises CNG/LNG tax, adjusts product tax rates, and cuts VAT on select goods. The Slovak Republic’s President has signed a bill amending the Act on Automatic Exchange of
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Italy: Council of Ministers extends sugar tax suspension, lowers VAT on art and antiques
The effective date has been delayed from 1 July 2025 to 1 January 2026. Italy’s Council of Ministers approved a decree-law on 20 June 2025, delaying the sugar tax's effective date from 1 July 2025 to 1 January 2026. Additionally, the law
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Finland: MoF consults reducing VAT rate
The Ministry is consulting on reducing the VAT rate from 14.0% to 13.5% for items such as food, transport, medicines, accommodation, and cultural activities. Finland's Ministry of Finance has initiated a consultation on 19 June 2025 regarding the
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Lithuania: Seimas advances tax reform package to boost defence funding from 2026
Tax reforms to fund defence are targeting over EUR 500 million in annual revenue from 2027. The Lithuanian Parliament (Seimas) has approved for further consideration of a package of tax law amendments designed to increase state revenues,
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Vietnam: National Assembly approves VAT rate reduction, expands scope
Vietnam’s National Assembly has approved an extension of the VAT reduction from 10% to 8% for certain goods and services until 31 December 2026, expanding coverage to include transport, logistics, and IT sectors. Vietnam’s National Assembly
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Bangladesh to revise tariffs in fy 2025–26 budget ahead of LDC graduation
Bangladesh plans to reform its tariff structure in the FY2025–26 budget, reducing duties on medicines and industrial inputs while increasing them on select raw materials, ahead of its LDC transition in 2026. Bangladesh is preparing a tariff
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Peru considers temporary reduction of standard VAT rate
The reduced VAT rates will apply to natural and legal persons engaged in business activities across any productive sector and subject to VAT. The Peruvian Congress is reviewing Bill No. 11228/2024-CR, introduced on 19 May 2025, which proposes a
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Russia: Government proposes extension of 0% VAT rate for hotels, temporary lodging services
The proposed extension will continue the rate until 31 December 2030. The Russian Government announced plans to extend the 0% VAT rate on temporary accommodation services in hotels and other lodging facilities on 22 May 2025. The proposed
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France consults VAT treatment of art, antiques
France has launched a public consultation on new VAT rules for art, antiques and collectibles ahead of a reduced 5.5% rate which is set to take effect on 1 January 2025. France’s tax authorities have launched a public consultation on new VAT
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Sweden: Ministry of Finance announces tax proposals for Autumn Budget 2026, includes reduced corporate tax
Sweden's Ministry of Finance announced various tax proposals for the 2026 Autumn Budget on 19 May 2025. It includes reduced corporate tax, energy tax on electricity, special income tax for non-residents, amongst others. Reduced corporate
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Finland: Government approves 2026–29 fiscal plan, introduces corporate tax cut and extended loss carryforward
Finland's Ministry of Finance has announced that the Government has approved the General Government Fiscal Plan for 2026–2029 on 23 April 2025. The decisions aim to strengthen the foundation for economic growth while prioritising the security of
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Russia: FTS clarifies rules on reduced VAT rates and exemption criteria
The Federal Tax Service (FTS) of Russia has issued a reminder on the proper application of reduced VAT rates of 5% and 7%. This announcement was made by FTS on 17 March 2025. Organizations and entrepreneurs must apply these rates consecutively
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