Scope: United Kingdom
Proposed
Oil and Gas Revenue Levy (OGRL)
HMRC published draft legislation on 13 July 2026 to introduce a new permanent tax called the Oil and Gas Revenue Levy (OGRL). It will take effect once the existing Energy Profits Levy ends (31 March 2030 unless triggered earlier via the Energy Security Investment Mechanism). OGRL will impose a rate of 35% on revenues from oil and gas sales above specified thresholds ($90 per barrel for oil; 90p per therm for gas), adjusted annually by CPI. Losses cannot be carried back or forward, and the levy is separate from corporation tax.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2030
- Verification
- Not recorded
Open cited source
Scope: South Korea
Proposed
어업법인 세금혜택은 계속, 어업용 면세유는 3년 연장
Benefits for fisheries corporations will continue indefinitely; tax-exempt fuel for fisheries is extended through December 31, 2029. Included are corporate income tax exemptions for fisheries co-operative entities, VAT exemptions on services, transfer tax deferral for in-kind capital contributions, and capital gains tax relief for certain land/buildings held ≥8 years. Effective per announcement in the 2026 tax reform draft, to be enacted via legislation in late 2026. High impact for fisheries operators and rural communities.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Dec 31, 2029
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Timely Payments in Income Tax Self Assessment factsheet
From April 2029, Self Assessment taxpayers who also have PAYE income will be required to pay forecasted Self Assessment liabilities via PAYE code throughout the tax year. The reform aims to smooth cashflow, reduce large single payments, and reduce instances of tax debt. This only changes timing—not the total tax due. HMRC is consulting on practical delivery and safeguards. Impacts include changes to tax codes, forecasting, and the way payments on account may be reformed. Effective from 2029-04-06 with consultation ongoing. Medium-high impact especially for mixed income individuals.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 6, 2029
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Timely Payments in Income Tax Self Assessment (ITSA) Consultation
The government has published a consultation (23 June 2026) exploring reforms requiring taxpayers with PAYE income to make forecasted Self Assessment payments in-year from April 2029, plus options for those with only Self Assessment income. This aims to shift payment timings so tax is paid closer to when income is earned, without changing total tax due.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2029
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Making Tax Digital for Income Tax: reducing threshold from £30,000 to £20,000
Legislation will lower the mandation threshold for **Making Tax Digital (MTD) for Income Tax** so that from **6 April 2028**, sole traders and landlords with qualifying profits or income above **£20,000** will be required to keep digital records and submit quarterly updates, down from the previous threshold of £30,000. This brings nearly 970,000 more individuals into scope. ([gov.uk](https://www.gov.uk/government/publications/making-tax-digital-for-income-tax-self-assessment-reducing-the-mandation-threshold-from-30000-to-20000-from-april-2028/reduction-of-the-mandation-threshold-from-30000-to-20000-from-april-2028?utm_source=openai))
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 6, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Making Tax Digital for Income Tax Self Assessment — reducing the mandation threshold from £30,000 to £20,000 from April 2028
The threshold for compulsory inclusion in Making Tax Digital for Income Tax Self Assessment will fall from £30,000 to £20,000 from April 2028. This extends digital reporting obligations and quarterly updates to a wider group of sole traders and landlords earlier than some prior expectations.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 6, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Reduction of the mandate threshold from £30,000 to £20,000 from April 2028
Legislation (Income Tax (Digital Obligations) Regulations 2026) lowers the threshold for requiring Making Tax Digital for Income Tax. From 6 April 2028, sole traders and landlords with gross combined income over £20,000 from self-employment and property must maintain digital records, submit quarterly updates, and file returns electronically. This extends MTD scope to ~970,000 additional individuals and aims to reduce errors and modernise tax compliance.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 6, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Reduction of the mandation threshold from £30,000 to £20,000 from April 2028
The UK Income Tax (Digital Obligations) Regulations 2026 require that from 6 April 2028 the threshold for Making Tax Digital (Income Tax) mandation will be reduced from £30,000 gross qualifying income to £20,000. This brings approximately 970,000 additional sole traders and landlords into mandatory use of MTD-compatible software, quarterly updates, and final returns. Exemptions and transitional rules may apply.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 6, 2028
- Verification
- Not recorded
Open cited source
Scope: Japan
Proposed
Introduction of “給付付き税額控除” and Zero-Rate Food Tax Transition
The government has decided to introduce an income-linked tax credit with cash benefit (給付付き税額控除) for working low- and middle-income individuals in FY 2029, with transitional measures starting from April 1, FY 2028. As a bridge, the consumption tax on food & beverages will be reduced from current 8% to **0%** for two years. The policy aims to decrease tax burden for low/mid earners and smooth ‘income walls’ that discourage extra work.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: ASEAN
Status requires verification
IRAS Annual Report FY2025/26: GST InvoiceNow Requirement
In FY 2025/26 Singapore’s IRAS announced the **GST InvoiceNow Requirement**, mandating all GST-registered businesses to onboard e-invoicing via the InvoiceNow network. The rollout is phased from **April 2028 to April 2031**. The move streamlines invoice processing, reduces errors, and modernises tax administration. Source: IRAS official Annual Report FY2025/26.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Electric Vehicle Excise Duty (eVED): new mileage charge for electric and plug-in hybrid cars
The government announced under Budget 2025 that from 1 April 2028, electric Vehicle Excise Duty (eVED) will require electric cars (EVs) and plug-in hybrid cars (PHEVs) to pay a per-mile charge in addition to existing Vehicle Excise Duty (VED). Fully electric cars will be charged **3 pence per mile**, and plug-in hybrids at half that rate. This is intended to replace declining fuel duty revenue, while maintaining incentives for EV adoption. A public consultation on design and implementation ran through early 2026. The eVED will be collected via the DVLA, integrated with VED renewals, and enforced with mileage reconciliation mechanisms. The Budget also increased the VED Expensive Car Supplement threshold for EVs to £50,000 (from April 2026) alongside supportive measures for EV infrastructure and 100% first-year allowances for EV chargepoints and zero-emission vehicles until March 2027. (These measures are in The Budget 2025 policy costings.)
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
High Value Council Tax Surcharge consultation launched
On 19 May 2026, the UK government launched a consultation on a proposed High Value Council Tax Surcharge affecting owners of residential properties in England valued at £2 million and above. It proposes a new surcharge from April 2028 to make council tax fairer, reviewing how properties are valued, billed, and how exemptions/discounts apply—with estimated revenue of about £430 million per year.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
High Value Council Tax Surcharge
From April 2028, the UK government will impose a new surcharge on owners of residential properties in England valued at £2 million or more (based on 2026 values). The surcharge bands range from £2,500-£7,500 depending on property value. Owners, not occupiers, will be liable. Social housing exempt. Estimate to raise ~£430 million annually.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Electric Vehicle Excise Duty (eVED)
Implements a new mileage-based tax (eVED) for electric and plug-in hybrid cars in the UK, effective from 1 April 2028. Under this regime, drivers of zero-emission vehicles will pay approximately 3p per mile driven, with PHEVs paying a reduced rate. The measure amends the Vehicle Excise and Registration Act 1994, introduces requirements for estimated mileage and odometer records, and aims to replace part of lost fuel duty revenue. Impacts include additional tax on eligible vehicle renewals, likely affecting about 5.6 million vehicles in 2028-29.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Introduction of Electric Vehicle Excise Duty (eVED)
The government will introduce Electric Vehicle Excise Duty (eVED), a new per-mile tax on UK-registered electric vehicles and plug-in hybrids, from 1 April 2028. Rates will be half of the fuel-duty equivalent for EVs, and half again for plug-in hybrid EVs. The legislation amends the Vehicle Excise and Registration Act 1994 and includes requirements for odometer regulations. The measure aims to ensure EV drivers contribute to road costs as fossil fuel users’ fuel duty declines.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: ASEAN
Proposed
GST InvoiceNow Requirement via Nationwide E-Invoicing Rollout
IRAS and IMDA jointly introduced a phased mandate requiring all GST-registered businesses in Singapore to adopt InvoiceNow for e-invoicing. This is set out in the FY 2025/26 Annual Report, with implementation phases from April 2028 to April 2031. The measure is designed to streamline tax administration, reduce errors, and improve invoice processing. Important shift in compliance obligations, particularly for businesses with significant GST turnover.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Electric Vehicle Excise Duty (eVED): draft legislation
Draft legislation published 13 July 2026 to impose new annual excise duties on zero-emission and plug-in hybrid vehicles, effective for licences from 1 April 2028. Transitional provisions will apply for licences spanning pre- and post-implementation dates.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2028
- Verification
- Not recorded
Open cited source
Scope: Japan
Status requires verification
法定調書の提出義務者のe-Tax等義務化（法定調書提出方法変更）
Employers and withholding agents who submit statutory payment reports (法定調書) in Japan must begin using e-Tax, eLTAX, or CD/DVD submissions when the number of reports submitted in a baseline prior year meets or exceeds specified thresholds. The threshold is being lowered: previously 100+ reports required it; under new rules 30+ reports trigger the obligation. This applies to filings from **January 1, 2028** future submissions (令和９年１月以後提出分).
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2028
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Application of the GST/HST to Mutual Fund Trailing Commissions
Notice 344 revises CRA’s position: most mutual fund trailing commissions will no longer be exempt financial services but treated as taxable supplies subject to GST/HST; enforcement delayed until January 1, 2028 to allow industry time to adapt.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2028
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
DEFERRAL OF GST/HST TREATMENT CHANGE FOR MUTUAL FUND TRAILING COMMISSIONS
The CRA’s revised administrative position that mutual fund trailing commissions, previously treated as exempt financial services, become taxable supplies under GST/HST effective July 1, 2026 is **delayed**. Enforcement will now begin January 1, 2028, giving affected parties additional time to adjust operations and compliance to the new standard.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2028
- Verification
- Not recorded
Open cited source