Australia includes major corporate, CGT tax reforms 2026-27 budget
Australia’s Treasurer, Jim Chalmers, delivered the 2026-27 federal budget in parliament on 12 May 2026. The 2026-27 budget outlines a comprehensive vision for tax reform in Australia, focusing on supporting workers, incentivising business
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Australia: Treasury consults AUD 1,000 instant tax deduction for working residents
The Australian Treasury has initiated a public consultation on 20 April 2026 on proposals to introduce an instant standard deduction of up to AUD 1,000 for Australian tax residents earning employment income, with implementation targeted for 1 July
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Japan enacts 2026 tax reform, implements side-by-side safe harbour
Japan’s National Diet approved the 2026 tax reform legislation on 31 March 2026, which has been published in the Official Gazette. The measures reflect proposals released in December 2025 and January 2026, covering income, corporate,
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Russia: Government proposes income tax exemption for sick leave benefits
The Russian government has submitted a draft federal law to the State Duma proposing a partial exemption of temporary disability (sick leave) benefits from personal income tax (PIT). Overview of the proposal The bill seeks to amend Article 217
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Ireland: Irish Revenue urges property owners to file LPT returns
Ireland's Revenue published its latest Local Property Tax (LPT) statistics and reminded residential property owners to submit their LPT Returns on 24 March 2026. The valuation submitted through this process determines the LPT charge applicable for
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Morocco: DGI clarifies 2026 Finance Law, details adjustments to corporate tax, PIT, VAT
Morocco’s tax administration (DGI) issued Circular No. 737 on 27 February 2026, clarifying the tax measures of Finance Law 50-25 for 2026, part of Morocco’s 2023–2026 structural tax reform. Finance Law No. 50-25 was promulgated by Dahir No.
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IMF Report on US Recommends Tax and Duty Changes
On 25 February 2026 the IMF issued a report following consultations with the US under Article IV of the IMF’s articles of agreement. The IMF notes that the US economy performed well in 2025 and economic growth reached 2.2% by the end of 2025.
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Hong Kong proposes global minimum tax implementation in 2026-27 budget
Hong Kong’s Financial Secretary Paul MP Chan delivered the 2026-27 Budget on 25 February 2026. Under the theme of "Driving High-quality, Inclusive Growth with Innovation and Finance," the budget introduces a mix of one-off relief measures and
See MoreIMF Recommends Tax and Spending Reforms for Germany
On 12 February 2026 the IMF issued a report following consultations with Germany under Article IV of the IMF’s articles of agreement. The economic shocks in recent years and weak underlying productivity growth contributed to two years of negative
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Canada announces 2026 automobile deduction limits, business expense benefit rates
Canada’s Department of Finance announced, on 14 January 2026, the automobile income tax deduction limits and expense benefit rates that will apply in 2026. The following changes to limits and rates took effect as of 1 January 2026: The
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World Bank: Impact of tax and spending measures on women
A World Bank policy research working paper with the title Mapping the Gender Dimension in Taxation and Budgeting: A Cross-Country Study of Laws, Policies and Practices was published on 4 December 2025. The research paper, written by H. Niesten, L
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US: IRS clarifies penalty relief for 2025 reporting on tips and overtime under One, Big, Beautiful Bill
The US Internal Revenue Service (IRS) has announced, on 5 November 2025, penalty relief for tax year 2025 related to information reporting on tips and overtime. The Treasury, IRS provide penalty relief for tax year 2025 for information
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Greece unveils expanded tax incentives for non-domiciled foreign investors
The expanded incentives allow family members of a non-dom in Greece to join the special tax scheme within the first 15 years by paying EUR 20,000 in personal income tax each. Greece has announced new tax incentives to attract wealthy foreign
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OECD: Taxing Wages Report 2025 shows post-tax income rise for single workers in most countries
The OECD has published the Taxing Wages 2025 report on 30 April 2025, highlighting that post-tax incomes increased in almost three-quarters of OECD countries in 2024, as real wages recovered and labour taxes increased slightly. This annual
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Sri Lanka issues guidance on AIT relief for low-income interest earners
Sri Lanka’s Inland Revenue Department released Circular No. SEC/2025/E/03 on 28 March 2025, outlining procedures for resident individuals to claim relief from Advance Income Tax (AIT) on interest income. Residents earning interest from banks or
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Thailand introduces tax incentives to attract skilled professionals back home
Thailand has introduced new tax incentives to encourage skilled Thai professionals working abroad to return. The measures, announced in Royal Decree No. 793 on 24 March 2025, took effect on 25 March 2025. Eligible individuals who return to work
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US: CRS issues report on tax reform and itemised deductions
The US Congressional Research Services (CRS) published a new report on Selected Issues in Tax Reform: Itemized Deductions on 4 March 2025. The report analyses changes to itemised deductions under the Tax Cuts and Jobs Act (TCJA) through 2025 and
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Turkey issues guide on income tax exemption for content creators and app developers
The Turkey’s Revenue Administration has issued a guide on income tax exemptions for social content creators and mobile app developers operating on online platforms. The guide explains key aspects of the exemption, including eligibility
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