Namibia announces tax proposals in 2025-26 budget
Namibia’s Ministry of Finance unveiled the 2025-26 budget on 27 March 2025, outlining several tax proposals, including corporate tax reductions, VAT changes, and higher excise duties. Namibia’s national budget has risen to NAD 106.3 billion,
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Bulgaria: Parliament adopts 2025 state budget
Bulgaria’s National Assembly has adopted the draft law on the state budget for 2025 at its second reading on 21 March 2025. The 2025 budget proposes no tax increases and projects a deficit of 3% of the gross domestic product (GDP). It forecasts
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Mongolia considers draft bill to lower VAT
Mongolia’s Deputy Speaker B. Purevdorj and MPs Ch. Lodoisambuu, A. Undraa, and G. Uyankhishig proposed a bill on 13 January 2025 to reduce the VAT rate to 5%. This bill was first submitted in 2019 but was returned as it was not reviewed. The
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Turkey raises minimum threshold for VAT refund claim
The government of Turkey has raised the minimum amount for value added tax (VAT) refund claims in cases involving reduced tax rates or exemptions, raising the minimum amount from TRY 2,000 to TRY 10,000. This announcement was published by the
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Ghana: 2025 budget to ease economic pressures on households, businesses
Ghana's Minister of Finance, Dr. Cassiel Ato Forson, presented the 2025 Budget Statement and Economic Policy on 11 March 2025 outlining tax policies and proposals designed to restore fiscal discipline, boost revenue generation, and ease economic
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Ecuador cuts VAT on tourism services for carnival holiday
Ecuadorian President Daniel Noboa has enacted Executive Decree No. 542 on 24 February 2025, temporarily lowering the Value Added Tax (VAT) rate to 8% for tourism-related services during the Carnival holiday period from 1 March to 4 March
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Slovak Republic proposes VAT and fuel tax reductions
The Slovak Republic ’s Parliament reviewed proposals to amend VAT and excise tax rules on 15 January 2025. Key VAT changes include lowering the standard rate from 23% to 20% , expanding reduced VAT rate eligibility, and increasing the VAT
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Poland: Senate passes various VAT changes
Poland’s Senate has approved several VAT amendments, including extending the reverse charge mechanism for gas, electricity, and greenhouse gas services and maintaining an 8% reduced VAT rate for certain agricultural goods. Additional VAT
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Peru extends reduced VAT rates for tourism sector Until 2027
Peru’s Congress has extended reduced VAT rates for hotels, restaurants, and tourist accommodations until 31 December 2027. The rates will remain at 8% for 2025 and 2026, before increasing to 12% in 2027. The measure, introduced under Law 32219,
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Lithuania: Parliament to discuss reduced VAT rate for food and catering in spring session
Prime Minister Gintautas Paluckas announced that the Lithuanian Parliament will consider introducing a reduced VAT rate for food products and public catering establishments in the spring session. Though he has not pledged his support, he recognized
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Lithuania considers reduced VAT on essential foods, services
The Lithuanian Parliament (Seimas) accepted for consideration Draft Bill No. XVP-90 which aims to introduce a reduced 9% VAT rate on essential food products on 30 December 2024. The proposed bill also includes a measure to extend the lower VAT
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Turkey increases refund limit for transactions subject to the reduced VAT rate
The Turkish Official Gazette published Communique No. 53 on 30 December 2024, which outlines changes to the VAT refund threshold subject to the reduced VAT rate for 2025. According to the new regulation, the VAT refund threshold has been
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Russia expands list of agricultural seeds eligible for reduced VAT rate
The Russian government has issued Resolution No. 3596-r, expanding the list of agricultural crop seeds treated with biological or chemical agents that are subject to a reduced VAT rate of 10% upon sale and import. The resolution, which came into
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Vietnam extends VAT reduction for first half of 2025
The Vietnamese government has extended the reduced value-added tax (VAT) rate from 10% to 8% for eligible goods and services during the first half of 2025, effective from 1 January to 30 June. The new tax policy was introduced in Decree No.
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Poland extends reduced VAT on agricultural production
Poland’s Ministry of Finance released a draft regulation proposing a three-month extension of the reduced 8% value-added tax (VAT) rate on specific goods used in agricultural production. This extension covers agents improving soil properties,
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Angola proposes new tax compliance, registration rules in 2025 budget
Angola’s government had submitted the 2025 State Budget Law on 31 October 2024 with various tax measures. The proposed tax measures state that: Non-compliant taxpayers will still face restrictions on financial transactions and work permit
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Vietnam: Government proposes VAT reduction extension for 2025
The Vietnamese government issued Resolution No. 218/NQ-CP on 12 November 2024, instructing the Ministry of Finance to propose policies for tax reductions, including an extension of the VAT cut into the first half of 2025. The proposed plan
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Finland proposes revised TV tax, VAT on broadcasting services
Finland’s government has submitted a legislative proposal (HE 186/2024) to the parliament on 7 November 2024 to amend the television tax levied on individuals and businesses and the VAT applied to public broadcasting services. The draft
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