Scope: Middle East
Status requires verification
Ministerial Decision No. 96 of 2026 – Agreed Guidance on Top-Up Tax in UAE
UAE issued Ministerial Decision No. 96 of 2026, which provides updated Commentary and Agreed Administrative Guidance for Cabinet Decision No. 142 of 2024 concerning the Top-Up Tax regime applied to Multinational Enterprises. The new guidance is **effective for fiscal years starting on or after 1 January 2025**, and repeals Ministerial Decision No. 88 of 2025.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Global Minimum Tax Rate Implementation
Implementation of a 15% global minimum tax rate for multinational corporations to combat tax avoidance and ensure fair taxation.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Proposed
Increased Tax Offset for Low-Income Earners
The government has proposed an increase in the tax offset for low-income earners to provide additional financial relief amid rising living costs.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Increase in Corporate Tax Rate for Large Corporations
Effective January 1, 2025, the corporate tax rate for businesses with revenues exceeding $500 million will increase from 15% to 18%. This policy aims to generate additional revenue for public services and infrastructure.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Increase in Standard Deduction
The standard deduction for individuals and married couples filing jointly will increase for the 2025 tax year, providing greater tax relief.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Taxpayers could see a change in their 2025 tax bill or refund
IRS Tax Tip 2026-20 explains that certain OBBB provisions are retroactive to 2025, including new deductions (senior, tips, overtime, auto-loan interest), updates to credits (child, adoption), and stricter SSN requirements. Taxpayers may owe less or get larger refunds, especially if withholding or estimates weren’t updated earlier.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Proposed
Introduction of Digital Services Tax
A new tax on digital services provided by multinational corporations will be introduced to ensure fair taxation of digital businesses operating in Australia.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Reduction of Corporate Tax Rate for SMEs
The corporate tax rate for small to medium enterprises will be reduced from 30% to 25%, effective January 1, 2025, to promote economic growth and investment.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Increased Tax Credits for Electric Vehicle Purchases
The Canadian government has proposed an increase in tax credits for the purchase of electric vehicles (EVs) to promote sustainable transportation.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
New for 2025 for capital gains
Proposed changes effective for dispositions after December 31, 2024 include expanding the definition of eligible small business corporation shares, increasing the limit to acquire replacement shares, and enabling a capital gains deduction for qualifying cooperative conversions. These affect inclusion rate, capital gain deductions, and timing rules. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/whats-new-capital-gains.html?utm_source=openai))
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Proposed
Increased Tax Rate for High-Income Earners
A new tax policy has been proposed to increase the tax rate for individuals earning over AUD 250,000 annually. This policy aims to address income inequality and fund public services.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: ASEAN
Status requires verification
Global Minimum Tax (GMT) Guidelines for Malaysia (HASiL)
Malaysia’s Inland Revenue Board (HASiL) issued comprehensive guidance on the implementation of the Global Minimum Tax (GMT) and Domestic Top-up Tax as part of Pillar Two, explaining scope, calculation, administrative requirements and effective application under Part XI of the Income Tax Act 1967. This affects multinational enterprise (MNE) groups operating in Malaysia, incentive eligibility, and will complicate transfer pricing planning.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Introduction of Digital Services Tax
A new tax on digital services provided by large tech companies operating in the UK, aimed at ensuring fair taxation in the digital economy.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Expansion of Child Tax Credit
The Child Tax Credit will be expanded to provide additional benefits for families with children under the age of 18, increasing the maximum credit amount and eligibility thresholds.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Global Minimum Tax Rate Implementation
The implementation of a global minimum tax rate of 15% for multinational corporations aims to curb tax avoidance and ensure fair taxation across jurisdictions.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
New Tax Credit for Green Energy Investments
A tax credit that allows businesses and individuals to claim 30% of their investment in eligible green energy projects, effective January 1, 2025.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Corporate Tax Rate Adjustment
A proposed adjustment to the corporate tax rate from 21% to 25% for companies with profits exceeding $5 million, aimed at increasing federal revenue and addressing income inequality.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Global
Proposed
Global Minimum Corporate Tax Rate
A proposed global minimum corporate tax rate aimed at preventing tax base erosion and profit shifting by multinational corporations.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Increase in Instant Asset Write-Off Threshold
The instant asset write-off threshold for small businesses has been increased to $50,000, allowing businesses to immediately deduct the cost of eligible assets.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Enhanced Tax Credits for Electric Vehicle Purchases
The government has proposed enhancements to tax credits available for the purchase of electric vehicles, increasing the maximum allowable credit to encourage more consumers to switch to electric vehicles.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2025
- Verification
- Not recorded
Open cited source