Canada releases 2026 Spring Economic Update, introduces sovereign wealth fund and pension rate cuts
Canada’s Ministry of Finance announced the Spring Economic Update 2026 yesterday, 28 April 2026, building on the momentum of Budget 2025 with strategic investments that support productivity, growth, and competitiveness and position Canada for
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US: IRS announces new option for certain taxpayers to request more time after ERC claim disallowance
The US Internal Revenue Service (IRS) announced on 27 April 2026 a new, streamlined way for taxpayers to extend the period of time for the IRS and the IRS Independent Office of Appeals to review a taxpayer’s response to a disallowance of an
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Philippines: BIR clarifies tax treatment of cross-border services
The Bureau of Internal Revenue (BIR) of the Philippines issued Revenue Memorandum Circular (RMC) No. 24-2026 on 30 March 2026 to clarify the application of RMC Nos. 5-2024 and 38-2024 on the taxation of cross-border services. The circular aligns
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UK: HMRC proposes CCA scheme expansion, carbon factor update from 2027
The UK’s HMRC has issued a policy paper on 20 April 2026, outlining proposed updates to the Climate Change Agreements (CCA) scheme in the UK. The proposal focuses on expanding eligibility to additional energy-intensive activities, refining key
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US: Taxpayer Advocacy Panel issues 2025 annual report highlighting taxpayer-focused recommendations to improve tax administration
The US IRS has announced that the Taxpayer Advocacy Panel has released its 2025 Annual Report on 24 April 2026, highlighting accomplishments and ongoing efforts to strengthen Internal Revenue Service delivery, improve communications with taxpayers,
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Brazil plans oil revenue windfall to fund fuel tax relief
Brazil's government has introduced legislation proposing to use windfall revenue from elevated oil prices to finance temporary cuts in federal fuel taxes, as geopolitical tensions in the Middle East drive energy costs higher. Planning Minister
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South Africa: SARS introduces simplified compliance framework for partnerships
South African Revenue Service (SARS) announced, on 22 April 2026, a simplified compliance framework for partnerships through the introduction of a new Beneficial Owner Register IT3(BO), aimed at streamlining beneficial ownership reporting
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Netherlands: MoF announces 2026 tax treaty agenda, possible review of Panama agreement
The Netherlands Ministry of Finance has issued a letter to the House of Representatives outlining planned and ongoing negotiations on tax treaties in 2026 on 23 April 2026. A separate government release indicates that the Netherlands is currently
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Kuwait tightens UBO rules with licensing conditions, new penalties
Kuwait’s Ministry of Commerce and Industry issued new measures strengthening its Ultimate Beneficial Ownership (UBO) framework through Ministerial Resolution No. (37) of 2026 on 16 April 2026. The resolution amends provisions under Ministerial
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Ireland updates guidance on CGT relief on company reconstruction, amalgamation transactions
Irish Revenue has published eBrief No. 084/26 on 22 April 2026, issuing revised guidance on Capital Gains Tax (CGT) relief for company reconstruction or amalgamation transactions. Tax and Duty Manual Part 20-01-02 explains the operation of CGT
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Russia, China sign tax cooperation memorandum
Russia's Federal Tax Service announced on 21 April 2026 that Russia and China have formalised their collaboration through a Memorandum of Understanding signed by Daniil Egorov, Head of Russia's Federal Tax Service, and Hu Jinglin, Head of China's
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Finland: Government cuts corporate tax in fiscal plan for 2027–2030
The Finnish government has announced the economic plan for the years 2027–2030 on 22 April 2026. Key measures include tax incentives for households and businesses, significant investments in infrastructure and housing, and a strategic focus on
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Italy streamlines tax rules under new PNRR law
Italy’s Revenue Agency has announced that it has enacted Law no. 50 of 20 April 2026, converting Decree Law no. 19/2026, which introduces significant tax simplifications as part of the National Recovery and Resilience Plan (NRRP)
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Italy approves synthetic indexes of tax reliability for 1.85 million taxpayers
Italy’s Revenue Agency announced on 17 April 2026 that the Ministry of Economy and Finance had published the Decree of 31 March 2026 in the Official Gazette on 16 April 2026. The decree approves a comprehensive update to 85 synthetic tax
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Portugal cuts ISP minimum fuel tax rates amid Middle East crisis
Portugal has approved a temporary reduction in the minimum unit tax rates applied to petroleum and energy products under ISP (Imposto sobre os Produtos Petrolíferos e Energéticos), in response to rising energy costs linked to the Middle East
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Canada’s Minister of Finance and National Revenue announced on 15 April 2026 that he will table the Spring Economic Update 2026 on Tuesday, 28 April 2026. In the Spring Economic Update 2026, the government will provide an update on its plan to
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Colombia Constitutional Court annuls emergency decree, rules on JEP, Penal Code cases
The Constitutional Court of Colombia, in Communicado 14 issued a release on 9 April 2026, delivered three rulings addressing the Special Jurisdiction for Peace (JEP), provisions of the Colombian Penal Code, and a State of Economic and Social
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Taiwan reminds suspended enterprises to file income tax returns
Taiwan’s Profit-seeking enterprises that have been approved to suspend operations in the 2025 tax year (Year 114 of the Republic of China calendar) are still required to file their income tax returns within the statutory deadline this May,
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