Comprehensive tax reform in Argentina reduces the headline rate of corporate tax from 35% to 25% by 2020. For foreign investors in resident companies in China, direct investment in ‘encouraged projects’ is incentivised by tax deferrals. In France, there will be progressive reduction of the corporate income tax rate to 25% from 2022/23; and a reduction of the withholding taxes and levies on dividends and capital gains earned by foreign companies. A new two-tiered profits tax rate regime has been introduced in Hong Kong; and Japan has announced significant amendments to its tax regime. Finally, the OECD has issued an update on the digital economy and double tax treaties.
