Australia unveils 2025-26 budget, proposes amendments to tax laws for managed investment trusts
Australia’s Treasurer Jim Chalmers presented the 2025-26 Budget on 25 March 2025. The tax measures are limited and include plans to amend tax laws for managed investment trusts, allowing legitimate investors to access concessional withholding tax
See More
Canada: Manitoba announces 2025 budget, features contingency plan to address potential impact of US tariffsÂ
Canada’s provincial state of Manitoba’s Minister of Finance, Adrien Sala, announced the 2025 provincial budget for Manitoba on 20 March 2025, features a contingency fiscal plan to address the potential impact of widespread US tariffs on Canadian
See MoreCanada announces 2025 budgets for New Brunswick, Saskatchewan
Canada’s provincial states New Brunswick and Saskatchewan have announced their budgets for 2025. New Brunswick 2025-16 budget Finance Minister René Legacy presented the provincial 2025-26 budget for New Brunswick on 18 March 2025. It
See More
South Africa unveils 2025 budget: Raises VAT and corporate income tax
South Africa's Finance Minister, Enoch Godongwana, presented the 2025 Budget Speech on 12 March 2025. The minister has proposed raising the VAT rate and corporate and personal income taxes. However, no changes to personal income tax rebates or
See More
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
See More
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
See MoreCanada: 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
See More
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
See More
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
See MoreCanada: 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
See More
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
See MoreCanada: 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,
See More
Singapore: PM presents 2025 budget, CIT rebate and investment incentives amongst new tax measuresÂ
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
See More
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
See More
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
See More
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
See More
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
See MoreAustralia: 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
See More