Poland: Government proposes new PIT scale from 2027
The Polish government has decided to submit a separate bill to introduce changes to the personal income tax system, with the proposed measures set to take effect from 2027, according to a release by the Ministry of Finance on 4 November 2026. The
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Puerto Rico proposes corporate tax changes, transfer pricing exemptions for incentivised businesses
Puerto Rico's House of Representatives introduced House Bill 1517 (P. de la C. 1517) on 15 October 2026. The bill aims to provide greater tax flexibility for exempt businesses, establish a dedicated economic development fund to retain and attract
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Poland: Senate approves PIT Changes, CIT increase for large taxpayers
The Polish Senate approved Bill No. 3147 on 27 October 2026, introducing changes to legislation amending the Personal Income Tax (PIT) Act and the Lump-Sum Tax Act. The amendments included an increase in the Corporate Income Tax (CIT) rate for
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Colombia proposes corporate tax cuts, VAT reforms, and higher excise duties in economic rescue bill
Colombia’s Chamber of Representatives (lower house of parliament) announced on 29 October 2026 that it is considering the Economic Rescue Law Bill of 2026, submitted by the Ministry of Finance. The bill aims to address Colombia’s persistent
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Czech Republic confirms Japan’s new defence tax under double tax treaty
The Czech Republic’s Ministry of Finance has published Financial Bulletin No. 15/2026, confirming that Japan’s new 1% defence surtax, effective 1 January 2027, qualifies as a covered tax under the countries’ 1977 income tax treaty. The
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Hungary proposes major 2027 corporate tax, wealth tax and personal income tax reforms
Hungary’s government has submitted a series of tax bills accompanying the draft 2027 budget to parliament on 27 October 2026. Following Prime Minister Péter Magyar's parliamentary outline on 19 October 2026, this landmark reform package
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Russia: State Duma adopts Tax Code amendments, proposes progressive income tax scale
Russia’s State Duma adopted a bill amending the Tax Code in the first reading on 29 October 2026. The bill sets out the main directions of tax policy for the next three years. Alexey Sazanov, state secretary and deputy minister of finance,
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Portugal proposes lower corporate tax rate and extends tax incentives in 2027 budget
Portugal’s parliament approved Proposed Law No. 110/XVII/2.ª, which approves the State Budget for 2027, at first reading on 28 October. The centre-right minority government secured passage after the opposition Socialist Party abstained, despite
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UK Budget 2026 sets out major corporate, personal and indirect tax reforms
UK’s Chancellor of the Exchequer John Healey presented Budget 2026 to Parliament on 28 October 2026. Most of the measures will be legislated through Finance Bill 2026-27, while others will be introduced through secondary legislation or future
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Italy proposes corporate tax increases in 2027 budget package
Italy’s Council of Ministers, following a proposal by Minister of Economy and Finance Giancarlo Giorgetti, approved the draft law for the State Budget 2027 and the multi-year framework for 2027–29. As the final financial bill put forward
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Algeria proposes corporate tax, VAT and digital reporting reforms in 2027 Finance Bill
Algeria’s Council of Ministers approved the Finance Bill for 2027 on 4 October 2026, which began parliamentary examination on 13 October 2026. The proposed measures remain subject to parliamentary adoption. The Finance Bill for 2027 provides
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Malta proposes corporate tax cut, family relief in 2027 Budget
Malta’s Finance Minister Clyde Caruana presented the 2027 Budget to parliament on 26 October 2026, outlining tax measures aimed at supporting businesses and households while addressing the costs associated with tourism and
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Hungary proposes higher levies on big business, tax cuts for low earners in 2027 budget
Hungary’s government has presented a draft 2027 budget that pairs higher corporate and sectoral levies with tax relief for workers and families, Prime Minister Péter Magyar said in a speech before the agenda in Parliament on 19 October
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Italy weighs further tax increases on energy firms in 2027–2029 budget
Italy may raise taxes on energy companies to fund tax cuts and higher spending, sources close to the matter told Reuters on 23 October 2026. The plan would shape the government's budget for 2027 to 2029, due next week. The IRAP tax has already
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South Africa proposes SEZ transfer pricing reforms, corporate tax changes in Medium-Term Budget Policy
South Africa’s National Treasury has delivered the Medium-Term Budget Policy Statement (MTBPS) to Parliament on 21 October 2026. This package comprises three key amendment bills designed to implement the government's tax policy, monetary
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Chile: SII introduces 10% substitute tax on historical untaxed corporate profits
Chile's tax administration, the Internal Revenue Service (SII) announced the implementation of the Substitute Single Tax for Final Taxes (IUSIF) on 21 October 2026, a temporary mechanism established under the National Reconstruction and Economic and
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Chile introduces corporate tax cuts, investment incentives under new law
Chile published Law No. 21.850 in the Official Gazette on 17 October 2026, enacting a wide-ranging fiscal, regulatory, and economic package designed to promote post-disaster recovery, stimulate investment, and overhaul key tax and administrative
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Cyprus unveils 2027 budget, outlines corporate tax changes and individual tax relief
Cyprus has presented its 2027 state budget and Medium-Term Fiscal Framework for 2027–2029 to the Parliamentary Committee on Finance and Budget on 12 October 2026. Finance Minister Makis Keravnos presented the budget, which was approved by the
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