Ukraine: Government approves 2026–2028 budget plan
Ukraine’s Cabinet approved the 2026–2028 Budget Declaration, outlining fiscal targets, wage adjustments, and EU-aligned reforms. The Ukrainian Council of Ministers approved the Budget Declaration for 2026–2028 through Decree No. 774 on 27
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Lithuania: Seimas advances tax reform package to boost defence funding from 2026
Tax reforms to fund defence are targeting over EUR 500 million in annual revenue from 2027. The Lithuanian Parliament (Seimas) has approved for further consideration of a package of tax law amendments designed to increase state revenues,
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Estonia considers raising personal and corporate income tax rates, scrapping temporary security tax
The Estonian government presented a draft bill ( 25-0475 ) to the parliament proposing permanent tax increases to replace the temporary 2% security tax on 9 May 2025. The draft bill, which amends relevant Acts, removes the planned 2% security tax
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Kazakhstan considers new tax code amendments, proposes sector-specific rates and VAT increase
Kazakhstan’s lower chamber of parliament is currently examining provisions of the new draft Tax Code, which received approval in its first reading on 9 April 2025. These provisions are based on the draft originally issued by the Ministry of
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Canada announces 2025 budgets for New Brunswick, Saskatchewan
Canada’s provincial states New Brunswick and Saskatchewan have announced their budgets for 2025. New Brunswick 2025-16 budget Finance Minister René Legacy presented the provincial 2025-26 budget for New Brunswick on 18 March 2025. It
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Luxembourg: Parliament adopts law amending Corporate Income Tax Law, New Wealth Tax Law
The Luxembourg Parliament passed legislation that introduced amendments to the Corporate Income Tax (CIT) Law and the Net Wealth Tax (NWT) Law, among other changes on 11 December 2024. Reduction in corporate income tax rate The new legislation
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Ireland: Lower House of Parliament passes Finance Bill 2024
The Irish lower house of parliament approved the Finance Bill 2024, which outlines major tax measures from Budget 2025 on Wednesday, 5 November 2024. Finance Bill 2024, which runs to 118 sections and over 200 pages, implements the taxation as
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Kazakhstan publishes updated tax code draft
Kazakhstan's Ministry of National Economy has updated the draft of its new tax code, introducing several amendments, on 24 July 2024. Key amendments Sector-specific corporate tax rates The draft proposes new sector-specific corporate tax
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Russia publishes federal law with major tax reforms
Russia officially published Federal Law No. 176-FZ on 12 July 2024, introducing a set of tax reforms effective from 2025. Key changes include a corporate tax rate hike to 25% and new progressive individual income tax rates reaching up to 22%. The
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Switzerland: Cantonal tax law reforms due to Pillar Two global minimum tax
In response to the implementation of the Pillar Two global minimum tax in Switzerland, effective from 1 January, 2024, several cantons have adjusted their tax rates or initiated projects to enhance their appeal as business locations. The Canton
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Iceland announces personal income tax and corporate tax changes for 2024
The Iceland Revenue and Customs has released the key rates and amounts for 2024, which provides individual income tax changes in 2024. The key changes in the monthly brackets and rates involving personal income taxes are as follows: Income
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Luxembourg publishes municipal rate multipliers for 2024
On 9 January 2024, the Luxembourg Administration of Direct Tax (Administration des Contributions Directes) released a newsletter regarding the municipal rate multipliers (coefficients) for the 2024 tax year. These coefficients were initially
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Denmark publishes updated tax rate tables
The Danish Ministry of Taxation has released a revised tax rate schedule for 2018-2023 which shows that the lowest and highest personal income tax rates for 2023 will maintain at 12.09% and 15.0% respectively, and the maximum tax rate, including
See MoreOECD: Fiscal Federalism 2022
On 20 December 2021 the OECD released the publication Fiscal Federalism 2022: Making Decentralisation Work. This looks at trends in relations with subnational governments as the world strives to emerge from the crisis caused by the
See MoreTurkey extends the effective time of 0% entertainment tax rates
On 13 July 2021, the Turkish Revenue Administration has issued Presidential Decision No. 4273 regarding the entertainment tax rates applied for showing domestic and foreign films. The Decision extends the effective time of 0% entertainment tax
See MoreUS: Nebraska cuts top corporate tax rate
On 26 May 2021, Nebraska Gov. Pete Ricketts signed Legislative Bill 432 which provides for a reduction of top corporate income tax rates over the next two years. Accordingly, for tax years beginning on or after Jan. 1, 2022, the rate will reduce
See MorePortugal: Madeira region is planning to reduce CIT rate to 14.7%
Portugal's Madeira regional government is planning to cut down the corporate income tax (CIT) rate from 20% to 14.7%. The CIT rate reduction is considered as part of the regional budget plan for
See MoreOECD: Ageing and Fiscal Challenges Across Levels of Government
A paper contributing to OECD Fiscal Federalism Studies published on 27 October 2020 looks at the fiscal challenges across levels of government resulting from an ageing population. Personal Tax Revenue and an Ageing Population Some tax systems
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