Bangladesh plans higher minimum PIT in 2025-26 budget
The government may introduce a flat BDT 5,000 minimum tax for individuals in FY 2025-26, with new taxpayers paying a discounted BDT 1,000 to boost compliance. Bangladesh may raise the minimum income tax for individuals to BDT 5,000 in the FY
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US: IRS offers assistance for taxpayers missing the filing deadline
The IRS announced resources for taxpayers who missed the 15 April tax filing deadline, offering guidance for handling owed taxes, interest, and penalties. The US Internal Revenue Service (IRS) released IR-2025-66 on 9 June 2025, highlighting
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US: IRS reminds taxpayers due date of second quarter estimated tax payment of 16 June
The IRS issued a reminder that the second quarter 2025 estimated tax payment is due on 16 June 2025. The US Internal Revenue Service (IRS) issued IR-2025-65 on 6 June 2025, reminding taxpayers that the second quarter 2025 estimated tax payment is
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Bangladesh: Interim Government announces 2025-26 national budget
The government’s growth forecast of 5.5% falls below the IMF’s estimate, signalling a shift away from chasing ambitious GDP targets and mega projects. The budget is set at BDT 7,90,000 crore, with a revenue budget of BDT 5,74,000
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Argentina: ARCA raises reporting threshold for financial institutions
ARCA has raised reporting thresholds for financial institutions and e-wallet providers under Decree 353. The changes were outlined in General Resolution 5699, which was published on 23 May 2025. Argentina’s federal tax authority (ARCA) has
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US: Taxpayers living, working abroad must file 2024 tax return by June
The IRS is reminding US taxpayers living abroad to file their 2024 federal income tax returns and pay any owed taxes by 16 June 2025. The US Internal Revenue Service has issued IR-2025-61 on 22 May 2025, encouraging US taxpayers living and
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Sweden: Ministry of Finance announces tax proposals for Autumn Budget 2026, includes reduced corporate tax
Sweden's Ministry of Finance announced various tax proposals for the 2026 Autumn Budget on 19 May 2025. It includes reduced corporate tax, energy tax on electricity, special income tax for non-residents, amongst others. Reduced corporate
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Lithuania: Government approves revised tax reform proposals
Lithuania's Government approved the tax law amendments proposed by the Ministry of Finance. These were updated after the Ministry reviewed suggestions from more than 200 associations, individuals, lobbyists, and institutions. Compared to the initial
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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
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US: IRS offers tax relief to Virginia storm victims
The US Internal Revenue Service (IRS) in a release VA-2025-03 on 30 April 2025 announced today tax relief for individuals and businesses in parts of Virginia affected by severe winter storms and flooding that began on 10 February 2025. These
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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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US: North Carolina grants extended tax relief for victims of Hurricane Helene
The US Internal Revenue Service (IRS) announced on 17 April 2025 that, due to the lingering effects of Hurricane Helene on North Carolina, the IRS would further postpone, until 25 September 2025, certain tax filing and payment deadlines for affected
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Finland: Government approves 2026–29 fiscal plan, introduces corporate tax cut and extended loss carryforward
Finland's Ministry of Finance has announced that the Government has approved the General Government Fiscal Plan for 2026–2029 on 23 April 2025. The decisions aim to strengthen the foundation for economic growth while prioritising the security of
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Algeria extends 2024 corporate income tax filing deadline
Algeria’s National Tax Administration (NTA) announced an extended deadline for corporate income tax (CIT) filing on 14 April 2025. The new deadline is set for 31 May 2025. However, since 31 May falls on a holiday, the revised deadline is set for 1
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Algeria extends 2024 transfer pricing and individual income tax filing deadlines
Algeria's Directorate General of Taxes announced on 14 April 2025 that it had extended the deadline for the annual transfer pricing declaration, which must be submitted electronically, for the 2024 fiscal year. Taxpayers now have until 31 May
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US: IRS extends tax deadlines to 25 September for North Carolina storm victims
The US Internal Revenue Service (IRS) issued NC-2025-01 on 17 April 2025, in which it announced an extended deadline for taxpayers in North Carolina impacted by Hurricane Helene. The new deadline, now set for 25 September 2025, replaces the
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US: IRS urges taxpayers to review withholding for next year
The US Internal Revenue Service (IRS) issued IR-2025-52 on 17 April 2025, in which it reminded taxpayers that proper tax withholding now is key to avoiding surprises when they file their tax return next year. Making any needed adjustments earlier in
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Canada: Prince Edward Island announces 2025-26 budget, includes corporate tax cuts
The Canadian province of Prince Edward Island presented the 2025-26 Operating Budget to the legislative assembly on 10 April 2025. The province’s 2025-26 budget includes CAD 294.6 million in new spending, bringing total expenditure to over CAD
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