Netherlands announces business incentives, lower property taxes in 2027 tax plan provisional measures
The Dutch State Secretary for Finance has informed Parliament, via a letter, of a provisional outline of measures expected to be included in the 2027 Tax Plan package on 10 June 2026. The complete package is scheduled to be presented on
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Hong Kong: IRD reminds property owners of 2025/26 tax filing obligations
The Hong Kong Inland Revenue Department has issued a notice outlining the property tax obligations of property owners for the year of assessment 2025/26. Property tax is charged on owners of land and/ or buildings ("Landed Property") by reference
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Italy Tax Authority tightens gift tax relief rules for family business transfers
Italy's tax administration issued two critical rulings on 4 June 2026 dismissing attempts to minimise gift tax during generational corporate transfers. Both decisions reinforce a core principle: transferring shares to the next generation only
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Taiwan warns gift tax exemption on agricultural land can be revoked if farming use ends
The Fengyuan Branch of Taiwan’s National Taxation Bureau of the Central Area has reiterated today, 5 June 2026, that agricultural land gifted for farming purposes can be exempt from gift tax when transferred between certain close relatives,
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US: 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
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Pakistan: Court declares Section 7E property tax unconstitutional
The Federal Constitutional Court of Pakistan has struck down Section 7E of the Income Tax Ordinance, 2001, ruling that the controversial tax on deemed rental income is unconstitutional and void from the beginning. In a Short Order issued on 7 May
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Norway announces revised 2026 national budget, proposes higher pension and fuel tax relief
Finance Minister Jens Stoltenberg has unveiled Norway's Revised National Budget for 2026, emphasising economic stability amid global uncertainties. With ongoing trade tensions and conflict in the Middle East creating volatility, the government has
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European Commission urges Spain to address discriminatory tax treatment of non-resident workers residing in the country
The European Commission has issued a reasoned opinion urging Spain to end the discriminatory taxation of non-resident taxpayers who work and habitually reside in the country, as outlined in its April 2026 infringements package published on 28 April
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US: New York Governor, Mayor propose tax on luxury second homes
New York Governor Kathy Hochul and Mayor Zohran Mamdani unveiled a joint proposal on 15 April 2026 to impose a new tax on second homes valued above USD 5 million. The measure specifically targets ultra-wealthy individuals who maintain expensive
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Canada: 2025 Budget Implementation Act overhauls transfer pricing rules, scraps digital services tax
Canada’s Bill C-15, or the Budget 2025 Implementation Act, No. 1, which received Royal Assent on 26 March 2026, introduces a major overhaul of Canada's transfer pricing regime, repeals the Digital Services Tax, and enacts a wide array of business
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Italy extends ICI tax recovery deadline to September 2026
The Italian Revenue Agency announced on 1 April 2026 that non-profit organisations will now have additional time to submit electronic returns for ICI tax recovery covering 2006-2011. The original 31 March 2026 deadline has been pushed to 30
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Hong Kong: IRD releases 2025–26 tax returns for profits, property
The Hong Kong Inland Revenue Department (IRD) has announced the issuance of profits tax, property tax, and employers’ returns for the 2025–26 tax year on 1 April 2026. IRD has issued about 270, 000 profits tax returns, 120, 000 property tax
See MoreNetherlands introduces ‘Freedom Contribution’ in 2026 Spring Memorandum
The Dutch Government has published the Spring Memorandum 2026, updating the 2026 budget and outlining forward-looking plans, including a range of tax measures. Key provisions reflect those agreed in the Coalition Agreement for 2026–2030, released
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UN Tax Committee Discusses Wealth Tax Issues
On 26 March 2026 the UN Committee of Experts on International Cooperation in Tax Matters discussed the workplan for producing guidance on taxation of high-net-worth individuals. The relevant subcommittee presented its planned workstream. There is
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Romania: MoF updates property taxation from 2026
Romania’s Ministry of Finance has approved tax reforms on 27 February 2026, which are set to begin in the 2026 fiscal year, emphasising revised property assessments and enhanced flexibility for municipal governments. To align taxation with
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Finland to reduce corporate tax rate in financial framework for 2027-30
Finland's Ministry of Finance has published a proposed decision outlining its draft spending framework proposal on 26 February 2026, which includes the government's fiscal plans for the 2027–2030 budget cycle. The framework includes sweeping
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Netherlands tax authorities launch electronic filing for 2026 gift, inheritance tax returns
The Netherlands tax administration announced on 2 March 2026 that taxpayers can now submit their inheritance and gift tax returns electronically for the 2026 tax year. Taxpayers who receive gifts exceeding certain thresholds must file a return by
See MoreHong 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
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