Colombia: Congress passes 2027 budget amid worsening public finances

Mexico has submitted its 2027 Economic Package to Congress, proposing corporate tax changes, revised deduction and loss carryforward rules, a temporary capital repatriation programme, higher RESICO thresholds and a 0% VAT rate for books, newspapers and magazines.

Lithuania’s parliament members proposed amendments that would allow qualifying entities to deduct up to an additional 30% of investment project expenses from taxable profit. The proposed measure would apply from the 2027 tax period if adopted.

The Dominican Republic had opened a public consultation on draft regulations implementing Law No. 30-26 on Pro-Economic Growth Measures, Tax Simplification, and Mitigation of the International Crisis. The consultation had been scheduled to run from 7 September to 8 October 2026.

Angola’s General Tax Administration has reminded taxpayers under the general regime to settle their 2026 provisional Industrial Tax by 31 August, generally calculated at 2% of qualifying first-half sales. 

Poland’s government has resubmitted legislation proposing a 60% windfall levy on oil companies’ excess revenue generated from March to December 2026, seeking to recover part of the state’s fuel price support costs.

The US IRS has extended tax relief for farmers and ranchers in drought-affected areas, allowing eligible producers to defer gains from forced livestock sales and extending the replacement period from two to four years.