Australia: Tasmania unveils 2025–26 budget, abolishes stamp duty for first home buyers
The 2025-26 budget introduces no new taxes or changes to existing ones. Its key initiative is removing stamp duty for first home buyers in Tasmania on homes up to AUD 750,000. Guy Barnett, Treasurer and Deputy Premier of Tasmania, presented the
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New Zealand enacts 2025 budget, includes investment boost and Kiwisaver reforms
Taxation (Budget Measures) Act 2025 was published in the Official Gazette on 29 May 2025. New Zealand published the Taxation (Budget Measures) Act 2025 in the Official Gazette, after it received royal assent on 29 May 2025. The Taxation
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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
See MoreUS: Trump pledges to negotiate ‘big, beautiful’ tax bill for Senate approval
Trump’s remarks came after Elon Musk said in a CBS interview that he was ‘disappointed’ with the bill’s massive spending, which undermines the Department of Government Efficiency (DOGE) efforts to reduce the US budget deficit US
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Brazil: Government announces spending cuts 2025 budget
The government announced plans to cut BRL 31.3 billion from the 2025 budget to meet fiscal rules and plans to raise the tax on financial transactions. Brazil's government announced that it will implement measures to slash BRL 31.3 billion (USD
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New Zealand announces 2025 budget, introduces tax incentive to boost investment
The budget, announced on 22 May 2025, includes a 20% “investment boost” tax deduction for business assets and changes to KiwiSaver. New Zealand’s Minister of Finance, Nicola Willis, announced the 2025 budget on 22 May 2025, introducing
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South Africa: MoF presents revised 2025 budget, scraps proposed VAT hike
Finance Minister delivered 2025 revised budget speech on 21 May 2025. Key tax changes include scrapping proposed VAT rate hikes, removing additional zero-rated items, and increasing the inflation-linked fuel levy. South Africa’s Finance
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Canada: Carney to announce 2025-26 federal budget in autumn
Canada’s Prime Minister Mark Carney said on 18 May 2025 that the federal government will present a budget this autumn. This follows Finance Minister François-Philippe Champagne's announcement on 14 May 2025 that the government won’t table a
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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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Canada: Ontario unveils 2025 budget, proposes increased tax credit for corporations
Minister of Finance Peter Bethlenfalvy, of the Canadian province of Ontario, presented the 2025 Ontario Budget: A Plan to Protect Ontario on 15 May 2025. It confirms no new changes to corporate or personal income tax rates. However, qualifying
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Norway: Government presents revised 2025 budget, introduces modest tax measures
Norway’s government presented its Revised National Budget for 2025 with a primary focus on safeguarding the economy on 15 May 2025. The revised budget introduces modest tax measures, including a reduction in electricity tax, a tax deferral
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US: House Ways and Means Committee passes major tax provisions of ‘One, Big, Beautiful Bill’
The US House Ways and Means Committee issued a release after voting on 14 May 2025, to approve the tax provisions of the "One, Big, Beautiful Bill" (budget reconciliation legislation). The approved provisions align with those outlined before the
See MoreAustralia: Northern Territory presents tax measures for 2025 budget
Australia’s Northern Territory (NT) newly elected Country Liberal Party has presented its 2025-26 budget for the province on 13 May 2025. Chief Minister Lia Finocchiaro and Treasurer Bill Yan have emphasised key priorities in the budget,
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US: Treasury reports USD 258 billion budget surplus in April 2025
The US Department of the Treasury reported a USD 258 billion budget surplus in April on 12 May 2025. The surplus is up 23% (USD 49 billion) compared to the same period last year. The Treasury said the increased surplus was driven by strong tax
See MoreUS: Budget plan 2026 seeks to expand deductions for families, select multinational corporations, unincorporated businesses
Republican Congress members have proposed new tax breaks on income from tips, overtime pay, senior citizens, private school tuition, and state and local taxes for the 2026 federal budget on 12 May 2025. The package also proposes tax reductions
See MoreUS: House Ways and Means Republicans unveil initial detailed tax plan, seeks to extend advantages for multinational corporations
The US House Ways and Means Committee Republicans revealed the first part of a tax package under budget reconciliation, focused on extending key elements of the 2017 Tax Cuts and Jobs Act (TCJA) on 9 May 2025. Alongside the committee print
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Austria: Budget Accompanying Act 2025 awaits parliamentary approval, proposes amendments to VAT, income taxes amongst others
Austria’s Ministry of Finance (BMF) has released the draft Budget Accompanying Act 2025 (BBG 2025) on 2 May 2025. The Budget Accompanying Act 2025 is presently awaiting parliamentary approval. The proposed key tax measures include amendments to
See MoreUS: Trump proposes USD 163 billion in federal budget cuts for 2026
The Trump administration has proposed USD 163 billion budgetary cuts for the 2026 federal budget on Friday, 2 May 2025. The federal budget drastically reduces spending on education, housing, and medical research while increasing funding for
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