US: Treasury, IRS offers safe harbour for taxpayers claiming carbon capture credit
The US Department of the Treasury and the Internal Revenue Service provided guidance on 19 December 2025 for taxpayers claiming the tax credit for carbon capture and sequestration, which was expanded and modified in the One, Big, Beautiful
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Luxembourg implements 2026 Budget Bill
Luxembourg has enacted the 2026 budget bill following its adoption by parliament. The full budget bill was published in the Official Gazette on 19 December 2025. The government has finalised the Law of 19 December 2025, introducing targeted
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Finland: Parliament adopts budget for 2026
Finland’s parliament concluded its deliberations and voting on the 2026 Budget on 19 December 2025. The key tax measures, including the reduced corporate tax rates and the 2026 income tax schedule, have been adopted. The single reading of the
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Netherlands: Senate approves 2026 Tax Plan package
The Netherlands Senate approved the legislative proposals contained in the 2026 Tax Plan package on 16 December 2025. The measures will enter into force once they receive royal assent and are published in the Official Gazette. The Ministry of
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Norway: Parliament approves 2026 budget bill, corporate tax rate unchanged
Norway’s parliament passed the proposed 2026 Budget bill on 5 December 2025. This follows Norway’s government's presentation of its 2026 state and national budget proposals on 15 October 2025. The bill boosts welfare, defence, and climate
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Belgium: SPF Finances announces importation of goods subject to CBAM from January 2026
Belgium’s tax authority (SPF Finances) announced, on 8 December 2025, that only importers holding a “carbon border adjustment mechanism (CBAM) declarant” authorisation will be permitted to import goods covered by the CBAM regulations. This
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Denmark: Ministry of Taxation proposes draft tax and duty reforms targeting environment, transport
Denmark’s Ministry of Taxation has released a draft legislation (2025/1 LSF 79) on 19 November 2025, proposing multiple changes to various tax and duty laws, focusing primarily on environmental and transportation policy. The draft bill
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OECD publishes report on recent trends in taxes on energy use, carbon pricing
The OECD published a report titled “Effective Carbon Rates 2025: Recent Trends in Taxes on Energy Use and Carbon Pricing”, which provides insights into how countries are implementing carbon taxes, emissions trading schemes, and fuel excise
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OECD: Carbon pricing mechanisms are evolving to meet a broader range of policy objectives
The OECD announced the release of a report, “Effective Carbon Rates 2025: Recent trends in taxes on energy use and carbon pricing on 13 November 2025, which presents information on how countries are using carbon taxes, emissions trading systems
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Canada: DoF releases 2025 budget, includes corporate tax and transfer pricing measures
Canada’s Department of Finance released the details of the Budget 2025 on 4 November 2025. The main tax measures of the budget are as follows: Business Income Tax Measures Immediate Expensing for Manufacturing and Processing
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Zambia: MoF presents 2026 budget, promotes corporate investments in key sectors
Zambia’s Ministry of Finance and National Planning delivered the 2026 Budget Speech to the National Assembly on 26 September 2025, announcing a series of revenue measures aimed at strengthening domestic resource mobilisation, supporting small
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EU Commission allocates EUR 2.9 billion from innovation fund to advance net-zero technologies
The European Commission announced on 3 November 2025 a total of EUR 2.9 billion in funding to 61 cutting-edge net-zero technology projects. The funding comes from the Innovation Fund, using revenues from the EU Emissions Trading System (EU
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EU officially issues regulation to streamline, enhance the carbon border adjustment mechanism (CBAM)
The amended Regulation is the final step in the formal adoption process, signed by the European Parliament and the Council and a key step towards fostering a more competitive and sustainable business environment while effectively addressing climate
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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
See MoreEU 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
See MoreFinland: 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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