Canada consults transfer pricing documentation amendments, various other tax measures
Canada's Department of Finance has released draft legislative proposals for public consultation on 23 July 2026 to implement a range of previously announced tax measures, along with other technical amendments to the country's tax
See More
Finland 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 More
US: More than half the US States signed up to participate in the federal scholarship tax credit program enacted under the One, Big, Beautiful Bill
The US Internal Revenue Service (IRS) announced on 8 June 2027 that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program, which enables eligible taxpayers to claim a federal tax credit for qualified
See MoreUS: New York approves FY 2026-27 budget, introduces tip income tax exemption
New York Governor Kathy Hochul signed the New York State Fiscal Year 2027 Budget on 28 May 2026. This legislative package is designed to address the rising cost of living while funding critical public safety and infrastructure initiatives. While
See More
Sweden plans indexed R&D deduction, tax-free skills support ahead of 2027 budget
Sweden’s Ministry of Finance has announced that it is submitting three tax proposals ahead of the autumn budget 2027 on 19 May 2026. The tax proposals are designed to strengthen labour market participation, facilitate skills development and
See More
New Zealand simplifies business tax compliance in 2026 Budget
The New Zealand Government delivered Budget 2026 to Parliament on 28 May 2026, with Minister of Finance Nicola Willis outlining a strategy aimed at restoring a fiscal surplus by the 2028/29 financial year. To implement the budget proposals, the
See More
Chile unveils major tax reform to boost economic recovery, support national reconstruction
The Chilean government has introduced a comprehensive tax reform draft bill before Congress aimed at reviving economic growth, attracting investment, and creating formal employment opportunities across the country. The draft legislation,
See More
Bolivia introduces tax incentives for foreign companies reinvesting profits locally
The Bolivian government enacted Supreme Decree 5563 on 6 March 2026, offering significant tax reductions to foreign companies that reinvest their earnings within the country rather than sending them abroad. The decree modifies the Tax on the
See More
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.
See More
Singapore gazettes Finance (Income Taxes) Act 2025, enacts global minimum tax standards
Singapore gazetted the Finance (Income Taxes) Act 2025 on 12 December 2025, enacting the Budget 2025 measures announced in February 2025. The Finance (Income Taxes) Act 2025, passed by the Parliament of Singapore in late 2025, introduces a range
See More
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
See MoreUS: Treasury and IRS consult on implementing new federal tax credit for donations to scholarship organisations
The US Department of the Treasury and the Internal Revenue Service (IRS) issued Notice 2025-70 on 25 November 2025, stating that it is requesting comments on the implementation of a new tax credit for individuals established under the One, Big,
See More
US: IRS to end paper refund checks for individual taxpayers
The IRS and the Treasury announced that paper tax refund checks for individual taxpayers will be phased out starting 30 September 2025. The US Internal Revenue Service (IRS), working with the US Department of the Treasury, announced on 23
See MoreSweden: Government proposes labour and pension tax cuts in 2026 budget
Sweden plans tax cuts totalling nearly SEK 21.4 billion, including larger earned income credits, higher basic allowances for seniors, and expanded relief for sickness and activity compensation, resulting in annual reductions of approximately SEK
See MoreUS: IRS issues USD 162 million in fines for fraudulent tax credit claims promoted on social media
The IRS warns taxpayers about rising social media scams promoting the misuse of tax credits, such as the Fuel Tax Credit and the Sick and Family Leave Credit, which have led many to file invalid returns and face denied refunds and penalties. The
See More
Chile: SII clarifies that tax treaty with US allows digital content creators to claim foreign tax credit
Ruling No. 1617-2025 permits digital content creators in Chile to claim a tax credit for US taxes paid, provided the US holds taxing rights over the income. Chile’s Tax Administration (SII) has published Ruling No. 1617-2025 of 14 August 2025
See More
US: Montana cuts PIT rate and expands EITC in major tax overhaul
Montana Governor Greg Gianforte has signed a bill (HB 337) on 28 April 2025 that cuts the top income tax rate and expands relief for working families. Personal income tax (PIT) Starting in 2026, Montana's top income tax rate will drop from
See MoreUS: IRS announces over USD 1 billion in 2021 in unclaimed tax refunds, requests taxpayers to check their eligibility
The US Internal Revenue Service (IRS) issued IR-2025-46 on 11 April 2025, reminding the 1.1 million people who didn’t file their tax year 2021 federal tax returns that they may be eligible for a refund if they file by the 15 April 2025
See More