As expected, the Chancellor lived up to his reputation as a cautious operator and made very few significant tax announcements in his final Spring Budget. Both the medium-term economic policy and the direction of travel of the tax regime were confirmed, and the government will proceed with the gradual reduction of corporation tax rates and the introduction of interest and loss relief restrictions. At the link below, please find our summary of the main tax announcements.
Highlights for business include:
- Corporation tax rate confirmed down to 17 % by 2020
- Amendments to proposed corporate interest restriction rules
- Increase of main rate of Class 4 National Insurance Contributions (NICs) by 2 % over the next two years to bring self-employed and those using personal service companies into greater alignment with employees
- Reduction of new tax-free dividend allowance from £5,000 to £2,000
- Targeted reliefs on business rates for pubs and small businesses
Read our Full Review of the Spring Budget Here
Supreme Court clarifies the Scope of Deduction of Head Office Expenditure for Non-Residents as enshrined under section 44C of the Income Tax Act, 1961
December 26, 2025
The Supreme Court of India (SC) has pronounced a landmark judgment (the Ruling) in the case of American Express Limited and Oman International Bank (the Taxpayers), which will have a significant impact on non-residents operating in India through a branch structure.
Vietnam Tax Update: CAPITAL TRANSFER TAX FOR FOREIGN CORPORATE SELLERS UNDER NEW DECREE NO. 320/2025/ND-CP DATED 15 DECEMBER 2025
December 24, 2025
New Decree sets a 2% Capital Transfer Tax on gross proceeds for foreign sellers, outlines exclusions, and leaves open issues on taxing point.
Malaysia Widens Capital Gains Tax “Disposal” Definition: Impact on M&A, Corporate Restructuring and Exit Planning
December 18, 2025
Malaysia redefines Capital Gains Tax 'disposal' to include share ownership cessation, affecting M&A, restructuring, and exit planning. Effective Jan 1, 2026.
Key Tax Impact of Possible Revisions to the India-France Tax Treaty From a Foreign Portfolio Investor Perspective
December 17, 2025
Indian and French governments are in the closing stages of finalizing the revised Double Taxation Avoidance Agreement (DTAA or Tax Treaty).
