Morocco: Government presents 2026 Finance Bill to the parliament
The 2026 Finance Bill introduces broad tax reforms, including expanded corporate and personal income tax withholding, new VAT exemptions for specific goods and investments, the launch of a petroleum product marking system, and the introduction of a
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Hungary initiates authorisation process for Carbon Border Adjustment Mechanism (CBAM)
The application window for CBAM authorised declarant status has opened on 1 September 2025. The National Climate Protection Authority of Hungary has announced that the application window for becoming an authorised CBAM (Carbon Border Adjustment
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EU Council streamlines carbon border adjustment mechanism, exempts small importers
The regulation aims to simplify the CBAM and lower compliance costs, particularly easing the regulatory burden for EU companies and SMEs. The Council of the European Union, in an announcement on 29 September 2025, stated that it has formally
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Sweden: Government proposes simplified business and capital taxation in 2026 budget
The proposed tax measures include business tax credits and simplified forestry and shipping rules, temporary VAT cuts and fraud controls, changes to excise taxes on alcohol and tobacco, permanent tax-free EV workplace charging, and reduced energy
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Finland: Government presents 2026 budget to parliament, proposes reduced corporate taxes
The 2026 budget proposal lowers corporate and CO2 fuel taxes while tightening crypto reporting, adjusting VAT, and raising taxes on vehicles, tobacco, alcohol, and soft drinks. Finland’s government has presented the 2026 budget proposal (HE
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Hong Kong: Chief Executive delivers 2025 policy address, includes tax incentives for strategic industries, and digital investments
The Hong Kong government plans to introduce legislative changes in early 2026 to enhance preferential tax regimes and attract more funds, family offices, and carried interest, reinforcing its role as a global financial hub. Hong Kong’s Chief
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EU: Parliament approves simplifications of Carbon Border Adjustment Mechanism
European Parliament approves streamlined CBAM rules, exempting most small importers while maintaining coverage of 99% of emissions. The European Parliament announced that it had approved measures to simplify the Carbon Border Adjustment Mechanism
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Romania: Government proposes revisions to local taxation, land taxes, and high-value assets
The tax changes include increasing building, land, and high-value asset taxes, abolishing reductions for residential and mixed-use properties, standardising agricultural building taxation, and introducing specific vehicle taxes with limited
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Finland: Government announces 2026 budget measures
The 2026 budget proposal includes reduced corporate tax rates, tightened crypto reporting requirements, adjusted VAT rates, and cuts to CO2 fuel taxes, as well as increased taxes on vehicles, tobacco, alcohol, and soft drinks. Finland’s
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EU: Commission consults CBAM methodology, certificate adjustments, third-country carbon price deductions
Stakeholders are encouraged to provide feedback on this initiative until 25 September 2025. The European Commission initiated a consultation on 28 August 2025 to gather the opinions of all stakeholders on the rules on the methodology for
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US rejects IMO proposal for global shipping emissions tax
A joint statement criticises the proposal as a “global carbon tax on Americans” imposed by an unaccountable UN body, which warns of potential retaliation or remedies against supporting countries if US efforts to oppose the framework are
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EU: European Commission proposes measures to curb carbon leakage in exports
The proposal, set for finalisation by end-2025, aims to protect at-risk producers from carbon leakage and ensure equal treatment of all goods within EU trade. The European Commission has announced plans to introduce a new measure to address the
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Canada announces legislation to ensure carbon rebates for small businesses are tax-free
The draft legislation ensures that all Canada Carbon Rebates for Small Businesses are provided tax-free. Canada's Department of Finance announced on 30 June 2025 that Carbon Rebates for small businesses will be tax-exempt, enabling eligible
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EU incorporates international CO2 credits into 2040 climate target
The European Commission proposed amending the EU Climate Law to set a 2040 target of a 90% reduction in net greenhouse gas (GHG) emissions from 1990 levels. The European Commission has proposed a legally binding EU climate target for 2040 to cut
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Romania announces 2025–28 tax reforms, raises dividend tax
The proposed tax reforms target increased taxes on dividends, reduced incentives, stricter expense deductions, and simplified VAT rates. Romania published its decision approving the 2025-2028 Government Programme in the Official Gazette on 23
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EU Commission approves new state aid rules to support clean industry
The European Commission's new State aid framework enables Member States to boost clean energy, industrial decarbonization, and clean technology by offering tax incentives, such as faster deductions for clean technology investments. The European
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Australia: Capital Territory announces 2025-26 budget, includes conveyance duty concessions
The ACT's 2025-26 Budget focuses on tax reform, including reduced conveyance duties, increased land tax exemptions, new thresholds for general rates, a short-term rental levy, and adjusted motor vehicle duty for zero-emission vehicles. The
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South Africa: SARS updates tax guide on net billing for renewable energy
SARS clarifies tax rules for surplus renewable energy under net-billing system. The South Africa Revenue Service (SARS) released an updated Guide on 13 June 2025, outlining the tax implications for the net-billing tariff system applied to surplus
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