Global updates – a quick glance
Argentina:
- Tax authority changed the schedule for the payment of corporate advance tax. Changes to apply on or after December 2025.
Canada:
- On July 1, 2025, the Canadian federal person income tax rate for income up to CAD 57,375 was reduced from 15% to 14%. A blended rate of 14.5% will apply for 2025, with the full 14% rate effective from 2026 onward.
- British Columbia has passed Bill 11 to remove the requirement for a sick note for certain short-term leaves. The change is expected to take effect by the fall of 2025.
China:
- China extended unemployment insurance contribution refund policy and one-time job expansion subsidy till December 31, 2025.
- Effective June 1, 2025, the Cyberspace Administration of China and the Ministry of Public Security have introduced new measures to regulate the use of facial recognition technology for processing facial data in mainland China.
Denmark:
- Parliament passes law to raise retirement age to 70 years by 2040.
Germany:
- German parliament approved tax relief package including corporate tax rate cut from 15% to 10% over 5 years beginning 2028.
- Germany extends maternity protection to miscarriages effective from June 1, 2025.
Hong Kong:
- The Legislative Council approved an amendment to the definition of the term ‘continuous contract’ which effects eligibility for employment rights and benefits.
India:
- MCA notified e-forms for submission of financial statements and other details, expanded disclosure requirement.
Netherlands:
- Effective April 14, 2025, an amendment to the tax treaty between the Netherlands and Germany allows cross-border employees to work from home for up to 34 days per year without incurring additional tax liability in their home country.
Philippines:
- Philippines issued guidance on VAT rules for cross-border digital services which requires non-resident digital service providers (“NRDSPs”) to register and comply with Philippine VAT obligations.
Poland:
- Poland amended the Labor Code to introduce pay transparency requirements effective from December 2025.
- Poland: Government approved draft bill for introduction of mandatory e-invoicing.
Singapore:
- Amended law to change reporting requirement regarding beneficial owners, nominee directors and nominee shareholders effective from June 16, 2025.
Spain:
- Effective May 1, 2025, permanent disability will no longer automatically end employment. Employees have 10 days to confirm if they wish to continue, and employers have 3 months to adjust the role or justify termination.
Thailand:
- Thailand has announced a corporate income tax exemption and reduced individual income tax for highly skilled Thai professionals, eligible for a reduced rate 17% tax rate, applicable from March 25, 2025, to December 31, 2029.
- Effective June 6, 2025, Thailand has reduced the corporate income tax rate from 20% to 10% for eligible businesses in Special Economic Zones (SEZs) under Royal Decree No. 797 issued by the Thai Revenue Department on June 2, 2025.