Germany: Federal Cabinet unveils draft 2027 income tax reform, splits trade tax revenue for data centre companies
Germany’s Ministry of Finance has published the Draft Income Tax Reform Act 2027 (Einkommensteuerreformgesetz 2027), which was approved by the Federal Cabinet on 2 September 2026. The draft outlines a proposal from the German Federal Ministry
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Belgium: MoF phases out marriage quotient under new spousal income transfer regime
Belgium’s Ministry of Finance has published Circular No. 2026/C/79, dated 26 August 2026, guiding the phase-out of the spousal income transfer regime introduced by the law of 15 July 2026. Circular 2026/C/79 provides detailed guidance on the
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US: IRS updates FAQs on qualified overtime compensation deduction
The US Internal Revenue Service (IRS) has updated its frequently asked questions on the deduction for qualified overtime compensation, providing further clarification on eligibility, calculation, reporting and withholding requirements. The
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Bulgaria enacts State Budget Act 2026 introducing gambling affiliate tax, expanded child tax relief
Bulgaria's National Assembly has enacted the State Budget Act for 2026, setting the country's strategic financial direction. It was passed by the National Assembly on 24 July 2026, approved by the President on 29 July 2026, and officially
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Italy issues tax relief guidance for variable bonuses, stock options in financial sector
The Italian Revenue Agency has issued a measure setting out the practical rules for claiming tax relief on bonuses and variable remuneration paid in the form of bonuses and stock options in the financial sector. The measure, signed by the
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US: IRS simplifies penalty relief, introduces automatic process for eligible taxpayers
The US Internal Revenue Service (IRS) announced on 8 July 2026 that it introduced a new automatic process to provide penalty relief for taxpayers with a history of filing and paying on time, reducing the need for them to request assistance. The
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Italy tax authority confirms SAFE investments qualify for 65% IRPEF deduction
Italy’s Revenue Agency has clarified on 8 July 2026 that Simple Agreements for Future Equity (SAFE) contracts used by early-stage startups meet the definition of "convertible investments" and therefore qualify for the 65% individual income tax
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Nigeria rolls out presumptive tax regime for informal sector, bans cash and roadblock collection
Nigeria's Joint Revenue Board published the Presumptive Tax Regulations, 2026, which were originally issued in the Official Gazette on 13 May 2026 and took effect from 1 January 2026. The Nigeria Presumptive Tax Regulations, 2026, serve as a
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Uzbekistan introduces tax exemptions for cultural, arts sectors
Uzbekistan has released Presidential Decree No. UP-103 of 2 June 2026, which introduces various measures aimed at the modernisation and expansion of cultural and arts sectors in Uzbekistan. To foster new talent, the government is establishing
See MoreUS provides safe harbour for certain contributions to Trump Accounts under Working Families Tax Cuts
The Department of the Treasury and the Internal Revenue Service (IRS) announced, on 29 June 2026, that it issued Revenue Procedure 2026-25 providing a gift tax reporting safe harbour for certain contributions to Trump accounts created under the
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Australia: Parliament passes tax reform bill replacing CGT discount with indexation, personal tax reliefs
Australia’s Parliament passed the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 on 25 June 2026, which is a key component of the 2026–27 Federal Budget tax package. The Bill introduces significant reforms aimed at improving housing
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Malaysia enacts additional employer deduction for employment of women returning to work
Malaysia has gazetted the Income Tax (Deduction for Employment of Approved Individual) Rules 2026 on 23 June 2026, providing qualifying employers with an additional deduction equal to 50% of remuneration paid to approved individuals for a period not
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Finland consults proposed comprehensive tax reforms to boost household incomes, work incentives
Finland's Ministry of Finance has initiated a public consultation on sweeping amendments to income taxation and the Income Tax Act, designed to strengthen purchasing power and encourage employment. The package targets a EUR 230 million reduction in
See MoreFinland proposes retroactive 2026 individual tax relief, includes higher household credits
Finland’s Ministry of Finance has announced that the government has submitted a proposal on 11 June 2026 to Parliament to amend the Income Tax Act. The changes concerning individuals are intended to take effect retroactively from the beginning of
See MoreBelgium advances individual income tax reforms: Raises tax-free allowances, revises self-employed deductions
Belgium’s Financial and Economic Committee of Parliament has adopted an individual income tax reform bill (Bill No. 56 1243/005) on 16 June 2026, introducing several key changes, including higher tax-free thresholds, a gradual elimination of
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Bolivia: Automatic tax relief scheme takes effect on 25 June 2026
Bolivia is rolling out an unprecedented tax relief programme under Law 1733, with automatic debt forgiveness requiring no paperwork or office visits. The National Tax Service (SIN) announced on 16 June 2026 that 252,000 taxpayers will have debts
See MoreMalaysia exempts returning women workers from income tax for up to 12 months
Malaysia has gazetted the Income Tax (Income of Approved Individual) (Women Returning to Work After Ceasing Employment Temporarily) (Exemption) Order 2026 on 9 June 2026. The Order grants eligible women an income tax exemption on gross employment
See MoreUS: IRS details agency activities in fiscal year 2025 Data Book
The US Internal Revenue Service (IRS) issued the 2025 Data Book on 5 June 2026, detailing the agency’s activities during fiscal year 2025. The report provides a statistical overview of the agency’s operations and the work employees performed to
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