Scope: India & South Asia
Status requires verification
CBDT exempts specified payments to IFSC Units from TDS (Notification No. 80/2026)
Under Notification No. 80/2026 [F. No. 275/19/2026-IT(B)], payments such as interest, dividends, professional fees, commission, brokerage and other financial services-related income received by eligible IFSC Units are exempt from withholding tax under the Income-tax Act, 2025.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Increasing VAT and other taxes late payment penalties percentage rate relating to penalty reform
Effective 1 April 2025, HMRC increased the late payment penalties under Schedule 26 Finance Act 2021 for VAT-registered taxpayers and those involved in Making Tax Digital for Income Tax Self Assessment (volunteers or cohorts). Previous rates of 2% at 15 and 30 days overdue have been increased to **3%**, and the annualized rate from 4% to **10%** from day 31. The policy is intended to close the UK’s tax gap and encourage earlier payments, with effect immediate for affected taxpayers.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Japan
Status requires verification
所得税が課されない博覧会関連業務従事者の非居住者等の給与の非課税措置
令和9年に開催される2027国際園芸博覧会の公式参加者等に勤務する非居住者が、博覧会関連業務に起因して受け取る給与について、令和7年4月1日から令和10年3月31日までの間は所得税を免除する措置。主に非営利・公式の役割に限定される。
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Government announces 2024-25 rates for final payments under the Canada Carbon Rebate for Small Businesses
The government has determined the final per-employee payment rates for eligible small and medium-sized businesses under the Canada Carbon Rebate for Small Businesses (CCRSB) for the 2024-25 fuel charge year. Since the federal consumer fuel charge was removed effective April 1, 2025, these payments represent the last CCRSB disbursements. Eligible businesses must have 499 or fewer employees and have filed their 2024 tax return by July 15, 2025. Payments will vary by province and are calculated automatically based on employee counts.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Removals of eligibility of private schools for business rates charitable relief
From 1 April 2025 in England, private schools that are charities will no longer be eligible for business rates charitable relief. This stems from the Non-Domestic Rating (Multipliers and Private Schools) Act 2025. The policy aims to ensure private schools pay their full property tax liability unless they serve pupils with an Education, Health and Care Plan (EHCP) and meet certain other conditions. The change has significant financial impact on private schools and will influence fees, budgeting and the affordability of private education. Schools will need to reappraise their cost structures and may pass on increased property tax costs to fee levels. Local authorities will share in revenue generated.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: HK & Taiwan
Proposed
FSTB responds to media enquiries regarding preferential tax regime for carried interest
Introduces amendments to the Inland Revenue (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026 - broadening the definition of "associate", allowing qualified employees to receive carried interest through other entities, refining eligibility tied to investment management services; measures proposed to take effect from Year of Assessment 2025/26 if passed.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Removal of eligibility of private schools for business rates charitable relief
From 1 April 2025 in England, private schools that are charities will no longer be eligible for business rates charitable relief following the Non-Domestic Rating (Multipliers and Private Schools) Act. This ends a relief previously enjoyed by charitable private educational institutions, aiming to raise revenue and create fairness in the tax system.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Increased National Insurance Contributions
The UK government has proposed an increase in National Insurance contributions to fund public services, including healthcare and education.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Increased VAT Threshold for Small Businesses
The VAT registration threshold will be raised to £100,000 to ease the burden on small businesses and encourage growth.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Extension of the 15 % Mineral Exploration Tax Credit (METC) for flow-through shares until March 31, 2027
Budget 2025 confirms that the **15% Mineral Exploration Tax Credit** for investors using **flow-through shares** will be extended for an additional **two years**, until **March 31, 2027**. This provides support for junior exploration companies, enabling investors in eligible mineral exploration to defer income and renounce expenses through flow-through share agreements entered into **before April 1, 2027**. ([canada.ca](https://www.canada.ca/content/dam/fin/publications/taxexp-depfisc/2026/taxexp-depfisc-26-eng.pdf?utm_source=openai))
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Chancellor delivers lower taxes, more investment and better public services in ‘Budget for Long Term Growth’
The Chancellor announced a series of tax cuts and reforms aimed at stimulating economic growth, including a reduction in the main rate of Employee National Insurance from 10% to 8% effective April 2025, and the abolition of the 'non-dom' tax regime to be replaced with a residence-based system from April 2025.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Strengthen penalty and shortfall interest charge provisions
Amendments to Australia's tax law to strengthen penalty and interest regimes. From 1 July 2026, tax scheme penalties will apply to taxpayers in a loss position, and penalties will be imposed on large taxpayers mischaracterizing or undervaluing interest or dividend payments to avoid withholding tax. Additionally, from 1 April 2025, the shortfall interest charge will extend to repayments of overclaimed tax offsets.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Increased National Insurance Contributions
The UK government has proposed an increase in National Insurance contributions for higher earners, aimed at funding public services and social care.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Introduction of Multinational Top-up Tax and Domestic Top-up Tax
The UK government is implementing changes to the international corporate tax framework by introducing the Multinational Top-up Tax and Domestic Top-up Tax. These measures aim to ensure that multinational enterprises pay a minimum level of tax in the jurisdictions they operate. The government has been communicating directly with groups believed to be in scope of the new taxes, with further communications issued in March 2025.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Introduction of Digital Services Tax
A new Digital Services Tax will be implemented targeting large tech companies that generate significant revenue from UK users. This tax aims to ensure that these companies contribute fairly to the UK economy.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Investing to Make Canada a Global Critical Minerals Superpower – Extension of Mineral Exploration Tax Credit
Extends the 15% Critical Mineral Exploration Tax Credit (for investors in flow-through shares) for eligible specified mineral exploration expenses through **March 31, 2027**; expands the list of eligible critical minerals; clarifies that the term “quality” in eligible expenditures refers only to physical characteristics, excluding engineering feasibility or economic viability. Estimated $110 million in support.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Tax Update: Simplification, Administration and Reform (Spring 2025) – Capital Goods Scheme, Spirit Drinks Verification and Valuation Office Agency reforms
As part of the Spring 2025 simplification package, the UK is removing computers from the Capital Goods Scheme assets, raising the capital expenditure threshold for land/buildings/civil engineering from £250,000 to £600,000 (ex VAT), introducing a flat £250 fee for spirit drinks GI verification per facility, and bringing the Valuation Office Agency functions into HMRC by April 2026. These reforms reduce admin burdens especially for small businesses and producers.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Phase-out of fuel charge and carbon rebate in Canada
Canada has eliminated the federal fuel charge effective April 1, 2025. As a result, the Canada Carbon Rebate (CCR) for individuals and small businesses ended. Provinces where the charge applied will receive a final CCR payment, and registration, return-filing, and rebate mechanisms are being wound down on set timelines.([canada.ca](https://www.canada.ca/en/revenue-agency/corporate/about-canada-revenue-agency-cra/ministerial-transition-2025/important-issues.html?utm_source=openai))
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Streamlining Disability Tax Credit Application Process
Proposed changes in Spring Economic Update 2026 to simplify access to the DTC including expanding eligible medical practitioners who can certify certain impairments, reducing paperwork, and recognizing public guardians/trustees. Estimated to provide $345 million over six years in additional tax relief and benefits.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Increase to VAT and other taxes late payment penalties percentage rate relating to penalty reform
This policy increases the late payment penalties under schedule 26 of the Finance Act 2021 for VAT and Making Tax Digital for Income Tax Self Assessment taxpayers. Penalties will be raised from 2% to 3% for debts overdue by 15 days, similarly increased at 30 days, and enhanced to 10% per annum from day 31 onwards. The aim is to make penalties more proportionate, encourage timely compliance and narrow the tax gap.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2025
- Verification
- Not recorded
Open cited source