Jamaica outlines new tax measures in 2025-26 budget
Jamaica’s Finance Minister Fayval Williams announced a JMD 1.26 trillion budget for 2025-26 on Tuesday, 11 March 2025. The Minister explained that the 2025/26 budget will be funded by JMD 949.5 billion in tax revenues, JMD 139.8 billion in
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Mozambique: President announces new tax proposals in inauguration speech
Mozambique's new president, Daniel Chapo, announced new tax measures, including renegotiating deals with foreign investors, in his inauguration speech on 15 January 2025. The measures aim to eliminate poverty and improve the country's business
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Canada: British Columbia 2025 budget proposes real estate tax and film industry changes
The Canadian province of British Columbia unveiled its 2025 budget on 4 March 2025. The 2025 budget has no changes to corporate or personal tax rates. However, it proposes the following tax measures: Increase in the speculation and vacancy tax
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UK further amends Finance Bill 2024-25
The UK tax authority, HMRC, announced further amendments to the Finance Bill 2024-25 on 25 February 2025, alongside explanatory notes on the revised provisions. The amendments also include: Clause 37 introduces new sections for claiming
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Cyprus: Tax Reform Team announces tax reforms
The Cyprus Tax Reform Team presented its tax proposals to key stakeholders at the Presidential Palace on 26 February 2025. The proposals will soon be open for public consultation before being submitted to the Council of Ministers for approval and
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Canada: Alberta presents tax measures for 2025 budget
Alberta’s Finance Minister Nate Horner has presented the province’s budget for 2025 on 27 February 2025. Alberta is facing its first deficit since 2020-21, with no clear plan yet to return to a surplus. The province anticipates a CAD 5.2
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Hong Kong announces 2025-26 budget, proposes reducing profits tax amongst other measures
Hong Kong Financial Secretary Paul Chan delivered the 2025-26 budget on 26 February 2025, which included various tax measures such as reducing profits tax, salaries tax and tax under personal assessment; raising the maximum value of properties
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Canada: Nova Scotia announces 2025-26 budget
Nova Scotia's Minister of Finance and Treasury Board, John Lohr, presented the province's fiscal budget for 2025-26 on 18 February 2025. The government’s Capital Plan 2025-26 will invest more than CAD 2.35 billion in healthcare facilities,
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Singapore: PM presents 2025 budget, CIT rebate and investment incentives amongst new tax measures
Singapore’s Prime Minister and Finance Minister, Lawrence Wong, presented the 2025 budget on 18 February 2025 outlining various tax changes which include corporate income tax (CIT) rebate and incentives to drive investments. The key tax
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Sri Lanka: 2025 budget pledges reforms largely aligned with conditions set out in IMF bailout
Anura Kumara Dissanayake, Sri Lankan President and Finance Minister, presented the 2025 budget to the Parliament on 17 February 2025, introducing various tax and legal reforms to advance the new government’s policy agenda. These reforms are key to
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Kenya seeks public input on draft 2024 tax rules for unassembled motor vehicles, motorcycles, and trailers
The Commissioner General of the Kenya Revenue Authority (KRA), in a public notice issued on 6 February 2025 on behalf of the Cabinet Secretary for National Treasury and Economic Planning, is inviting public feedback on two draft regulations: the
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Canada: Northwest Territories announce 2025-26 budget, carbon tax increased, income tax unchanged
Finance Minister Caroline Wawzonek has presented the Government of the Northwest Territories (GNWT) 2025-26 budget to the 20th Legislative Assembly on 6 February. Budget 2025‑2026 forecasts revenues of CAD 2.7 billion and allocates CAD 2.5
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Croatia enacts amendments to the General Tax Act for 2025
Croatia has introduced amendments to its taxation laws concerning changes to its General Tax Act. The amendments go into effect on 1 January 2025. Amendments to the General Tax Act Expansion of tax audit scope and limitations for
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Australia: ATO publishes reportable tax position schedule for 2025
Companies are required to complete a reportable tax position schedule if their total business income is AUD 250 million or more, or AUD 25 million or more while part of an economic group with AUD 250 million or more in total income. This applies
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India: Cabinet approves Income Tax Bill for 2025
The Indian Union Cabinet has approved the Income Tax Bill 2025, which will supersede the old Income Tax Act of 1961. The proposed legislation seeks to streamline tax laws, remove outdated provisions, and simplify compliance processes. Union
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Botswana presents 2025-26 FY budget to National Assembly
Botswana’s Ministry of Finance and Economic Development has presented its budget proposals for the 2025-26 fiscal year to the National Assembly on 10 February 2025. Amendments include changes to corporate taxation, VAT and personal
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India 2025 Budget: Everything we know so far
India’s Finance Minister Nirmala Sitharaman presented the Union Budget 2025-2026 on 1 February 2025 to the parliament, which included the Finance Bill 2025 (The Bill) outlining amendments to various direct and indirect taxes as well as various
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US releases expiring federal tax provisions list 2024-2034
The US Joint Committee on Taxation has published the List of Expiring Federal Tax Provisions for 2024-2034 on 9 January 2025. This document lists Federal tax provisions that expired in 2024 or are scheduled to expire in the future. Years in which
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