US: 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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US: House of Representatives advance Trump’s major tax and spending bill
The Republican-controlled House advanced President Trump's tax and spending bill on 21 May 2025, clearing a key procedural hurdle and setting it up for a floor vote. US President Donald Trump's massive tax and spending bill passed a key
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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
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US: House Ways and Means Committee releases tax provision summary for budget reconciliation, amends earlier recommendations
The US House Ways and Means Committee released a Description of Tax Provisions related to budget reconciliation recommendations, including proposals to extend key provisions of the 2017 Tax Cuts and Jobs Act (TCJA) and other reforms on 12 May
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US: 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
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US: 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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Poland: Council of Ministers adopts deregulation legislations
Poland's Ministry of Finance announced on 6 May 2025 that the Council of Ministers has adopted a number of draft laws that are part of the deregulation process. Draft corporate tax amendment act The proposal suggests removing the requirement
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Costa Rica consults on new tax information reporting reforms
Costa Rica’s tax administration (DGT) has released six draft resolutions for public consultation to improve tax reporting, streamline electronic compliance, and update filing methods. The proposed resolutions focus on migrating reporting
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Netherlands scraps plastic tax, considers higher waste tax
The Dutch government has reportedly scrapped its plans to introduce a polymer levy (polymerenheffing) or the plastic tax. Cancelling the tax will cause a EUR 567 million budget loss, which will likely be offset by raising the waste tax rate and
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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
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US: 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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US: Trump to reveal 2026 federal budget plan later today
US President Donald Trump is set to unveil his 2026 fiscal year budget proposal today, 2 May 2025, which will then be submitted to Congress. The federal budget release follows after Republicans in Congress’ attempt to resolve divisions over
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Netherlands releases draft tax plan measures for 2026
The Netherlands State Secretary for Finance has sent a list of tax measures on 25 April 2025, which are expected to be included in the annual Tax Plan and other tax legislation planned for the year, to the lower house of parliament. The Tax Plan
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US: Trump reportedly plans to cut billions from programmes in 2026 budget proposal
The Trump Administration is planning to cut billions from child care, health research, education, and housing programmes in its 2026 budget proposal, which is being finalised by the White House's Office of Management and Budget, according to a New
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Ghana: Parliament passes 2025 budget measures
Ghana's Ministry of Finance announced that the Parliament approved several 2025 Budget measures on 26 March 2025. The passage of these bills marks a major leap for economic reform and a significant step in fulfilling the government’s commitment
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