India: Lok Sobha approves Finance Bill 2026 with amendments
India’s Lok Sabha (lower house of parliament) has approved the Finance Bill 2026 with amendments on 25 March 2026. It now awaits approval by the Rajya Sabha. The bill implements the Union Budget 2026–27, including measures to introduce the new
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Malaysia clarifies taxation of real estate investment trusts (REITs), property trust funds (PTFs) to unit holders
The Inland Revenue Board of Malaysia (IRBM) released Practice Note No. 2/2026 (including examples) on 18 March 2026, addressing significant changes to how income distributions from real estate investment trusts (REITs) and property trust funds
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Malta enacts 2026 budget measures introducing R&D tax breaks, tighter rules on VAT and excise dutiesÂ
Malta has gazetted the Budget Measures Implementation Act 2026 (Act No. III of 2026) on 10 March 2026. introduces a comprehensive series of adjustments to Malta’s fiscal landscape. These changes, largely retroactive to 01 January 2026, touch upon
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Canada cuts PIT, lifts first-time home buyer GST, removes federal fuel charge
Canada’s Department of Finance confirmed that the Making Life More Affordable for Canadians Act (Bill C‑4) obtained royal assent and entered into force on 12 March 2026. The bill introduces key measures to reduce costs, helping Canadians save
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IMF Country Focus: How China’s Economy Can Achieve Consumption-led Growth
On 18 February 2026 an IMF country focus with the title How China’s Economy Can Pivot to Consumption-led Growth, written by D. Garcia-Macia, S. Jain-Chandra, S. Kothari and Y. Xu, looked at way in which China could stimulate domestic
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Serbia sets 2025 supplementary individual tax threshold
Serbia has announced the threshold and rates for the 2025 supplementary annual tax on individuals, affecting both residents and non-residents. Individuals whose net income exceeds RSD 5,439,096, equal to three times the average annual salary, are
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Russia proposes overhaul of individual income tax with new progressive brackets
Russia’s Parliament has put forward a draft federal law aiming to restructure the country’s personal income tax (PIT) system. Under Draft Law No. 1160313‑8 on 25 February 2026, the reform would exempt low-income individuals from taxation
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Mozambique enacts 2026 tax reforms, introduces VAT on digital services
Mozambique's President signed into law and ordered the official publication of the Economic and Social Plan and State Budget (PESOE) for 2026, along with a package of tax reform legislation on 29 December 2025. Effective from 1 January 2026, the
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Brazil: Tax authority announces deadline for property declaration under lower rates
Brazil's Federal Revenue Service (RFB) issued an alert on 13 February 2026, reminding taxpayers of the approaching deadline to enrol in the Special Regime for Updating and Regularising Assets under the Update modality (Rearp Update). The
See MoreBrazil: Chamber of Deputies weighs wealth tax proposal
Brazil's Chamber of Deputies is reviewing a draft legislation as of 2 February 2026 to implement a "Tax on Large Fortunes" (IGF), a levy already authorised by the Federal Constitution but never enacted. This proposal seeks to establish a Great
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US: NYC Mayor proposes tax increases to address budget deficit
New York City Mayor Zohran Mamdani proposed raising taxes on high earners and corporations on Wednesday, 12 February 2026, during testimony at the State Senate's budget hearing. The Democratic mayor reported that the city has narrowed its budget
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Honduras: SAR issues 2026 individual income tax brackets
The Honduras Revenue Administration (SAR) has issued SAR Notice 02-2026, setting out the Progressive Income Tax (ISR) brackets and rates for individuals for the 2026 fiscal year. Under the notice, annual net taxable income up to HNL 228,324.32
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Cameroon releases 2026 Finance Law, includes new rules for digital giants, green levies
Cameroon’s Ministry of Finance issued a circular on the execution of the 2026 Finance Law, providing guidance on its implementation and outlining the key tax measures introduced for the year. The circular outlines the mandatory instructions for
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Argentina: ARCA announces 2025 personal assets tax threshold, brackets
Argentina’s tax authority (ARCA) has updated the thresholds and brackets for the personal assets tax for individuals and undivided estates for the fiscal year ending on 31 December 2025. Minimum value applicable to valuation of assets
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Chile: SII updates 2026 tax brackets, inflation adjustments
Chile’s tax authority (SII) has updated the annual global complementary tax brackets for the 2026 tax year. These adjustments are based on the December 2025 annual tax unit (UTA) value of CLP 834,504. These changes are formalised under Circular
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Papua New Guinea enacts Income Tax Act 2025
Papua New Guinea’s new Income Tax Act 2025 came into effect on 1 January 2026. Issued on 20 October 2025, the new Income Tax Act modernises and simplifies the country’s tax framework, replacing the former regime under the Income Tax Act 1959.
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China introduces temporary CIT, VAT, IIT incentives for innovative enterprise CDRs
China’s Ministry of Finance, the State Taxation Administration and the China Securities Regulatory Commission have issued Announcement No. 8 of 2026 on 21 January 2026, setting out temporary tax incentives to support the pilot programme for the
See MoreArgentina: ARCA updates 2026 corporate, individual income tax brackets
The Argentine tax authority, ARCA, has published the corporate and individual income tax brackets and rates for fiscal year 2026. The corporate brackets are effective from 1 January 2026, while the individual rates apply for January to June
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