diff --git a/CHANGELOG.md b/CHANGELOG.md
index f8a5e612a..8452e4e6d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,9 @@
 # Changelog
 
+## 10.7.0 - 2023-02-23
+* [#1444](https://github.com/stripe/stripe-php/pull/1444) API Updates
+  * Add support for new value `igst` on enum `TaxRate.tax_type`
+
 ## 10.6.1 - 2023-02-21
 * [#1443](https://github.com/stripe/stripe-php/pull/1443) Remove init.php from the list of ignored files
 
diff --git a/VERSION b/VERSION
index 04ada833e..1bcdaf5fe 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-10.6.1
+10.7.0
diff --git a/lib/Stripe.php b/lib/Stripe.php
index 29dddc67e..db9f5d032 100644
--- a/lib/Stripe.php
+++ b/lib/Stripe.php
@@ -58,7 +58,7 @@ class Stripe
     /** @var float Initial delay between retries, in seconds */
     private static $initialNetworkRetryDelay = 0.5;
 
-    const VERSION = '10.6.1';
+    const VERSION = '10.7.0';
 
     /**
      * @return string the API key used for requests