Malawi lowers tax for select non-resident companies
The Malawi government has abolished the 5% repatriation tax for non-resident companies, increased withholding tax on gambling winnings to 10%, and exempted bread from the 16.5% VAT. Malawi has implemented new tax laws through the Taxation
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Russia: Parliament proposes zero VAT on lightweight drones
The initiative seeks to enhance domestic drone manufacturing, and the zero VAT rate is expected to remain until 31 December 2027. Russia’s parliament has proposed draft law no. 962796-8 aimed at boosting domestic drone production. It proposes
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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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Kenya enacts Finance Act 2025, reduces corporate tax rates
The Finance Act 2025 allows NIFCA-certified companies to benefit from reduced corporate tax rates, tax exemptions on dividends with reinvestment conditions. Kenya’s President William Ruto signed the Finance Act 2025 into law on 26 June
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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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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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Tanzania presents 2025-26 budget, introduces withholding tax and higher AMT
The budget speech highlighted key fiscal changes, which included a new withholding tax, higher alternative minimum tax, and VAT adjustments. Tanzania's Minister of Finance, Mwigulu Nchemba, has presented the 2025-26 Budget Speech to parliament on
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South Africa: MoF presents revised 2025 budget, scraps proposed VAT hike
Finance Minister delivered 2025 revised budget speech on 21 May 2025. Key tax changes include scrapping proposed VAT rate hikes, removing additional zero-rated items, and increasing the inflation-linked fuel levy. South Africa’s Finance
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Brazil introduces consumption tax, selective tax as part of VAT reforms
Brazil’s President, Luis Inácio Lula da Silva, signed Complementary Law No. 214/2025 into law on 16 January 2025. It introduces and defines new taxation frameworks in Brazil: Tax on Goods and Services (IBS), the Contribution on Goods and Services
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Austria: Budget Accompanying Act 2025 awaits parliamentary approval, proposes amendments to VAT, income taxes amongst othersÂ
Austria’s Ministry of Finance (BMF) has released the draft Budget Accompanying Act 2025 (BBG 2025) on 2 May 2025. The Budget Accompanying Act 2025 is presently awaiting parliamentary approval. The proposed key tax measures include amendments to
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Netherlands scraps proposed VAT hike on sports, culture, media in 2025 Spring Memorandum
The Netherlands Ministry of Finance has released the Spring Memorandum 2025 on 18 April 2025, detailing budget adjustments and policy decisions, including tax measures. It confirms that the government is scrapping the planned VAT increase on
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Namibia announces tax proposals in 2025-26 budgetÂ
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
See MoreSouth Africa unveils 2025 budget: Raises VAT and corporate income tax
South Africa's Finance Minister, Enoch Godongwana, presented the 2025 Budget Speech on 12 March 2025. The minister has proposed raising the VAT rate and corporate and personal income taxes. However, no changes to personal income tax rebates or
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Poland: Senate passes various VAT changesÂ
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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Egypt implements new VAT rules for exported services
Egypt’s tax authorities issued Instruction No. 78 of 2024, which amends the criteria for applying the 0% value-added tax (VAT) on exported services under Circulars (5) and (6) of 2019. Instruction No. 78 repeals Circulars 5 and 6 of 2019, where
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Cyprus announces temporary 0% VAT rate on essential items
The Cyprus Council of Ministers passed Decree No. 349/2024 on 31 October 2024. The Decree amends the VAT law to introduce a temporary zero VAT rate on certain essential items. The zero VAT rate will apply to basic essentials such as baby and
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Portugal proposes several VAT measures in draft state budget law 2025Â
Portugal released the state budget law for 2025 (Law No. 26/XVI/1) on 10 October 2024, proposing various VAT measures. The draft Budget Law for 2025 proposes reduced corporate tax rates for companies and SMEs and revised personal income tax rates,
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