US: IRS announces Q1 deadline for estimated tax payments for 2025
The US Internal Revenue Service (IRS) issued IR-2025-45 on 10 April 2025 reminding self-employed individuals, retirees, investors, businesses and corporations that 15 April is the deadline for first quarter estimated tax payments for tax year
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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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Algeria clarifies flat-rate tax regime measures under 2025 Finance Law
Algeria’s National Tax Administration (NTA) announced new measures on 31 March 2025 affecting the Unique Flat-Rate Tax (IFU) regime under the 2025 Finance Law. These amendments will enhance tax compliance while streamlining the IFU regime. The
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US: Michigan, Texas offer state tax relief after disasters
In response to recent natural disasters that have heavily impacted communities, Michigan and Texas have announced tax filing and payment relief for individuals and businesses. Michigan: Relief for people and businesses hit by severe winter
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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: IRS extends 2024 tax deadline for disaster victims in 12 states
The US Internal Revenue Service (IRS) issued IR-2025-41 on 4 April 2025, in which it reminded individuals and businesses in areas covered by 2024 disaster declarations that their 2024 federal income tax returns and tax payments for tax year 2024 are
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New Zealand: Parliament grants Royal Assent for Omnibus Tax Bill
New Zealand’s Parliament announced on 29 March 2025 that royal assent had been granted to Public Act No. 9/2025, a comprehensive omnibus tax law. The Bill introduces several key provisions, including confirming annual income tax rates for the
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US: Taxpayers living and working abroad have until 16 June to file their 2024 federal income tax return
The US Internal Revenue Service (IRS) issued IR-2025-39 on 2 April 2025, in which it reminded taxpayers living and working abroad that they have until Monday, 16 June 2025, to file their 2024 federal income tax return and pay any tax due. This
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India enacts Finance Act 2025, offers support for targeted sectors of the economy
India's Central Board of Direct Taxes (CBDT) has released the Finance Act 2025 on 29 March 2025. The Act was officially enacted on 29 March 2025, following the President's assent, implementing the provisions outlined in the 2025–2026
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South Africa: SARS updates guidance on capital gains
The South African Revenue Service (SARS) has released updated guidance on capital gains tax (CGT) for individuals and businesses on 18 March 2025. This guide provides a basic introduction to capital gains tax (CGT) for companies as defined in
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US: Arkansas offers tax relief for storm affected residents
Arkansas Governor Sarah Huckabee Sanders (R) signed an executive order on 20 March 2025 announcing tax filing and payment relief for individuals and businesses impacted by the severe thunderstorms and tornadoes that swept through the state on 14
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Australia unveils 2025-26 budget, proposes amendments to tax laws for managed investment trusts
Australia’s Treasurer Jim Chalmers presented the 2025-26 Budget on 25 March 2025. The tax measures are limited and include plans to amend tax laws for managed investment trusts, allowing legitimate investors to access concessional withholding tax
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Canada: Manitoba announces 2025 budget, features contingency plan to address potential impact of US tariffs
Canada’s provincial state of Manitoba’s Minister of Finance, Adrien Sala, announced the 2025 provincial budget for Manitoba on 20 March 2025, features a contingency fiscal plan to address the potential impact of widespread US tariffs on Canadian
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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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Greece announces 2024 tax return deadlines
The Greek Public Revenue Authority (AADE) has announced the commencement of corporate and personal income tax return filing for the 2024 tax year. Corporate income tax returns: For businesses whose tax year ends on 31 December 2024:
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Brazil to tax overseas corporate profits
Brazil's government has proposed imposing a 10% tax on corporate profits and dividends sent abroad on 17 March 2025 to offset the revenue loss from expanding the tax exemption brackets for low-income individuals. According to the country's
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US: IRS announces tax relief for West Virginia taxpayers impacted by adverse weather
The US Internal Revenue Service (IRS), in a release – IR-2025-34 on 14 March 2025, announced tax relief for individuals and businesses in parts of West Virginia affected by severe storms, straight-line winds, flooding, landslides and mudslides
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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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