Scope: United States
Status requires verification
IRS provides tax relief for taxpayers impacted by severe storms, straight-line winds, tornadoes, and flooding in multiple counties Missouri; various deadlines postponed to March 30, 2026
For certain counties in Missouri affected by disasters, the IRS postponed filing and payment deadlines for many tax returns and required actions from their original or extended due dates (between March 30, 2025 and before March 30, 2026) until March 30, 2026. Estimated tax payments due in that period are also postponed without penalties if made by March 30, 2026. Some tax filings (e.g., Forms W-2, 1099 series, etc.) are excluded from the relief. Implications: affected taxpayers get extra time to file and pay taxes, easing compliance burdens after disaster.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 30, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
The Multinational Top-up Tax (Pillar 2 territories, qualifying domestic top-up taxes and accredited qualifying domestic top-up taxes) Regulations 2025
These UK regulations implement Part 3 & 4 of Finance (No.2) Act 2023, specifying which territories have adopted Qualifying Income Inclusion Rules, which taxes qualify as domestic top-up taxes, and which are accredited for the safe-harbour election. Businesses in multinational groups with >€750 million global revenue must use these lists to determine if they owe the Multinational Top-up Tax to reach the 15% global minimum effective rate. The rules provide much greater certainty by fixing specified territories/taxes and allowing HMRC to add by notice. Potential impact is high for companies with overseas operations whose jurisdictions are near or below the threshold, or whose domestic top-up tax regimes are pending accreditation.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 27, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Banning foreign purchases of established dwellings
The Australian government has implemented a ban on foreign non-residents purchasing established residential properties. This policy aims to increase the availability of existing housing stock for Australian residents and address housing affordability issues.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 25, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
First-Time Home Buyers’ GST/HST Rebate now available for eligible homes
New First-Time Home Buyers’ GST/HST Rebate applies to homes purchased from builders (or owner-built) where the agreement is entered into on or after **March 20, 2025**, with construction substantially completed before 2036. Full rebate for new homes valued up to **$1 million**, partial rebate for homes between **$1 million and $1.5 million**, with maximum rebate up to **$50,000**. Offers immediate affordability relief for first-time buyers, but must meet criteria such as first-time home buyer definition, eligibility window, and apply within prescribed time.
Editorial impact label: Medium to High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 20, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
First-Time Home Buyers’ GST/HST Rebate under Bill C-4
Enacted March 13, 2026 with Royal Assent of Bill C-4, this policy eliminates the GST/HST on new homes up to $1 million and reduces the GST/HST on homes priced between $1 million and $1.5 million for first-time home buyers. It also revises the GST/HST New Housing Rebate rules under the Excise Tax Act to align with the new rebate. Intended to lower upfront tax costs for first-time buyers and stimulate housing affordability.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 20, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
New Guidelines for Cryptocurrency Tax Reporting
The IRS has issued new guidelines for the reporting of cryptocurrency transactions, requiring clearer disclosure and new forms for taxpayers involved in digital assets.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 15, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Amendments ensuring MITs wholly owned by foreign funds retain concessional withholding rates
From 13 March 2025, Australian law clarifies that Managed Investment Trusts (MITs) **ultimately wholly owned by widely-held foreign funds** may continue to access concessional withholding tax rates, provided they don’t engage in non-commercial restructures aimed solely at securing tax benefit. Part IVA anti-avoidance rules continue to apply. Changes do not affect legitimate structures but tighten integrity oversight.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 13, 2025
- Verification
- Not recorded
Open cited source
Scope: EU / EEA
Status requires verification
VAT in the Digital Age (ViDA) package adopted to modernise EU VAT rules
Adopted in March 2025, the ViDA package introduces reforms to the EU VAT system including e-invoicing, reforms to OSS/IOSS schemes, platform where deemed supplier measures, and real-time digital reporting requirements. The reforms will be implemented in phases: clarifications from 1 January 2027; platform deemed supplier measures from 1 July 2028 (optionally delayed to 1 January 2030 in some Member States); B2B cross-border digital reporting from 1 July 2030; and full alignment of domestic real-time transaction reporting by 1 January 2035.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 11, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Australia’s Adoption of the Implementation of Global Minimum Tax and Domestic Minimum Tax Working Group Meeting - 5 March 2025
On 9 May 2023, the Treasurer announced in the 2023–24 Budget that the Australian Government will implement the OECD Global Anti-Base Erosion (GloBE) Model Rules (also known as global minimum tax) and a domestic minimum tax. A working group meeting held on 5 March 2025 discussed the legislative process, lodgment channels for GloBE Information Return (GIR) and domestic forms, system and form design impacting DSPs, and timing of DSP guidance materials. The primary legislation implementing the GloBE Rules framework in Australia received royal assent on 10 December 2024, with subordinate legislation registered on 23 December 2024.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 5, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS issues guidance on the additional first year depreciation deduction amended as part of the One, Big, Beautiful Bill
Notice 2026-11 issued by Treasury and IRS provides interim guidance on permanent 100% additional first-year depreciation for eligible depreciable property acquired after Jan. 19, 2025, and rules for determining eligibility, including guidance for specified sound recording productions, elections, and component treatments under OBBB.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Guidance on the Additional First Year Depreciation Deduction under the One, Big, Beautiful Bill
Notice 2026-11 provides interim guidance for taxpayers regarding the permanent 100 % additional first-year depreciation deduction under § 168(k), as amended by the One, Big, Beautiful Bill. It clarifies qualification rules for depreciable property acquired after January 19, 2025, election procedures (including § 168(k)(5), (10) elections), and treatment of qualified sound recording productions. Taxpayers may rely on existing regulations and this notice while official proposed regulations are developed.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2025
- Verification
- Not recorded
Open cited source
Scope: Global
Proposed
Additional First Year Depreciation Deduction Guidance under OBBBA (Notice 2026-11)
IRS guidance providing interim rules on how the permanent 100% additional first-year (bonus) depreciation deduction applies to eligible property acquired or placed in service after Jan 19, 2025. Also includes rules for sound recording productions and elections to take reduced depreciation for certain property. Applies while regulations are finalized.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Internal Revenue Bulletin: Interim Guidance on Additional First Year Depreciation Deduction under § 168(k)
Under the OBBB amendments, IRC § 168(k) now allows a **permanent 100% additional first-year depreciation deduction** for qualified property acquired after January 19, 2025. This guidance implements changes including elections, qualified sound recording productions, and applicability of the amended law. Prior phase-downs and related deadline restrictions are removed.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2025
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
IRS: Additional first-year depreciation deduction guidance under One, Big, Beautiful Bill (Notice 2026-11)
IRS issued guidance via Notice 2026-11 concerning the permanent 100% additional first-year depreciation deduction for eligible property acquired after Jan 19, 2025, under the One, Big, Beautiful Bill. Clarifies eligibility, inclusion of acquired-after date, and how taxpayers should compute deductions under new law.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Treasury, IRS issue guidance on the additional first year depreciation deduction amended as part of the One, Big, Beautiful Bill
Notice 2026-11 provides interim guidance under the One, Big, Beautiful Bill (OBBB Act) that restores a permanent 100% additional first-year depreciation deduction under § 168(k) for qualified property acquired and placed in service after January 19, 2025; includes rules for certain sound recording productions; clarifies elections for reduced deduction and component treatment; taxpayers may rely on this guidance until proposed regulations are published.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2025
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
US Internal Revenue Bulletin: Notice 2026-11 – Permanent 100% Bonus Depreciation under OBBBA
Under the One, Big, Beautiful Bill Act (signed into law July 4, 2025), IRS Notice 2026-11 (published June 2026) provides interim guidance that the 100% additional first-year depreciation deduction under § 168(k) is now permanent for qualified property acquired and placed into service after January 19, 2025, including amendments that add qualified sound recording productions. Taxpayers must observe acquisition and service timing, elections under §§ 168(k)(5) and (10), and properly classify experiments and productions to benefit.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 20, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Guidance on the additional first-year depreciation deduction amended as part of the One, Big, Beautiful Bill
Notice 2026-11 provides interim guidance under the One, Big, Beautiful Bill for the permanent 100% additional first-year depreciation deduction for eligible property acquired after January 19, 2025, including rules for sound recording productions, elections (e.g. taking a reduced deduction), and property component-treatment.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 19, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Interim guidance on additional first-year depreciation deduction under § 168(k) under OBBB
The IRS issued Notice 2026-11 providing interim guidance for § 168(k) bonus depreciation rules as amended by the One, Big, Beautiful Bill, making the 100% additional first-year depreciation deduction permanent for qualified property acquired on or after January 19, 2025. The guidance includes elections under § 168(k)(5) & (10), component election rules, and defines acquisition and placed-in service dates. This replaces previous phase-downs and removes the former sunset date requirement. Affects businesses acquiring qualifying property after Jan 19, 2025.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 19, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Final Regulations Resolving Requests by IRS Independent Office of Appeals Under the Taxpayer First Act of 2019
Final regulations establishing procedural and timing rules under Internal Revenue Bulletin 2025-11 which provide guidance on how federal tax controversies are resolved by the IRS Office of Appeals, including exceptions to appeals and deadlines. Applies to all requests received on or after February 14, 2025.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 15, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Notice of Proposed Rulemaking: Removal of Basis Shifting TOI Regulations (§ 1.6011-18)
The IRS and Treasury have proposed removing the Basis Shifting Transactions of Interest (TOI) Regulations, which identify certain partnership related-party basis adjustment transactions (and substantially similar ones) as “transactions of interest” requiring disclosure under §§ 6011, 6111, 6112, with penalties for noncompliance. Under the proposed rulemaking, these regulations would be removed from the Income Tax Regulations, effective upon publication of final regulations. The agencies propose that the removal be treated as having been in effect as of January 14, 2025, allowing taxpayers and material advisors to treat the Basis Shifting TOI Regulations as never having taken effect. Comments were due by April 6, 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 14, 2025
- Verification
- Not recorded
Open cited source