Policy updates

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Nueva política de condonación de intereses y multas por deudas tributarias (Chile)

Desde el 18 de junio de 2026 comienza a regir en Chile una política que permite condonar tasas de interés y multas para contribuyentes con deudas tributarias, siempre que se cumplan ciertos criterios. Se excluyen deudas por infracciones sin base tributaria o recargos no imputables al contribuyente. Es aplicable mediante formularios del SII o solicitud presencial.

Editorial impact label: High

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Jun 18, 2026

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IRS simplifies penalty relief, introduces automatic process for eligible taxpayers (Automatic Exemption from Penalty)

The IRS has replaced the First Time Abate (FTA) program with a new **Automatic Exemption from Penalty (AEP)** program. Under AEP, eligible taxpayers with a history of three years (or 12 consecutive quarters for quarterly filers) of timely filing and payment will automatically receive relief from failure-to-file, failure-to-pay, and failure-to-deposit penalties. The transition begins summer 2026, applying initially to tax year 2025 and 2026 quarterly original returns; FTA will no longer be available for returns with due dates on or after January 1, 2027.

Editorial impact label: High

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Jun 17, 2026

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IRS Introduces New Automatic Penalty Relief for Eligible Taxpayers (Automatic Exemption from Penalty, AEP)

The IRS is phasing out the First Time Abate program and launching AEP in summer 2026. Eligible taxpayers with three years of timely filing and payment history (or 12 consecutive quarters for quarterly filers) will automatically receive relief from certain penalties (failure-to-file, failure-to-pay, failure-to-deposit) without needing to request it. This begins applying for tax year 2025 returns and 2026 quarterly returns onward.

Editorial impact label: Medium-High

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Jun 17, 2026

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What’s New – Savings and pension plan administration (TFSA and plan-administrator updates)

The Canada Revenue Agency has launched the Registered Plan Administrator Account (RPAA) portal to streamline registered plan submissions; has updated TFSA guidelines for specimen approvals in group plans with mandatory participation; and announced the 2026 and 2027 TFSA dollar-limits. These administrative changes affect operators of registered plans, financial institutions, and savings-plan holders.

Editorial impact label: Medium

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Jun 15, 2026

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Transport-Related Tax Reliefs: Fuel Duty Freeze & Mileage Allowance Increase

Government extends the 5p per litre fuel duty cut until 31 December 2026; red diesel duty reduced to 6.48p per litre from 15 June 2026; approved mileage allowance payments & self-employed mileage rates increased (55p for first 10,000 miles, 25p thereafter) retroactive to 6 April 2026; first-year £1-fee for HGV VED renewals.

Editorial impact label: Medium

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Jun 15, 2026

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Launch of the Registered Plan Administrator Account (RPAA) portal

CRA introduced the RPAA portal, streamlining submissions and management of registered plans (RRSP, TFSA, etc.), removing signature requirement for contribution receipts, updating plan limits.

Editorial impact label: Medium

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Jun 15, 2026

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Treasury and IRS issue final regulations listing occupations where workers customarily and regularly receive tips under the One, Big, Beautiful Bill

These final regulations, effective June 12, 2026, list over 70 occupations that customarily and regularly received tips on or before December 31, 2024, define “qualified tips” (cash, card or equivalent, voluntary tips or tip-sharing), and allow eligible taxpayers in these occupations to claim a deduction for qualified tips in tax year 2025 returns.

Editorial impact label: High

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Jun 12, 2026

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Final Regulations Listing Occupations Where Workers Customarily and Regularly Receive Tips Under the One, Big, Beautiful Bill

These final regulations specify more than 70 occupations whose workers customarily and regularly receive tips, and define “qualified tips” that are eligible for a deduction under the One, Big, Beautiful Bill. Workers in these occupations (bartenders, servers, water taxi operators, etc.) may benefit from refunds already being issued and future more accurate reporting.

Editorial impact label: Medium

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Jun 12, 2026

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Final “No Tax on Tips” Regulations under Section 224 of the One, Big, Beautiful Bill

IRS and Treasury issued final regulations (TD 10044) implementing Section 224, which allows individuals in occupations that customarily and regularly received tips as of December 31, 2024, to deduct **qualified tips** from taxable income. The rules confirm which occupations qualify (servers, hairdressers, taxi drivers, etc.), clarify that service charges, mandatory gratuities, and digital asset tips are excluded, and address transition relief for taxpayers in “specified service trade or business” (SSTB) occupations until SSTB-specific regulations are finalized. This takes effect June 12, 2026.

Editorial impact label: Medium

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Jun 12, 2026

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Final Regulations on Occupations Eligible for the “No Tax on Tips” Deduction

Final regulations under section 224 of OBBBA identify occupations that customarily and regularly receive tips as of December 31, 2024; define “qualified tips” including payment medium, voluntary tips vs service charges, tip pooling; effective June 12, 2026 for tips received beginning after December 31, 2024.

Editorial impact label: High

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Jun 12, 2026

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Tax Minister to owners of dodgy shops: “We are coming for you”

HMRC announced an expansion of its enforcement campaign across the UK high street, planning **30,000 interventions in 2026-27** to tackle tax fraud, labour exploitation, money laundering and illegal trading. Actions include unannounced visits, data downloads, civil penalties, and seizures. The policy signals increased risk for small businesses in cash-intensive sectors.

Editorial impact label: Medium

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Jun 12, 2026

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Final Regulations: Occupations that Customarily and Regularly Received Tips; Definition of Qualified Tips

IRS and Treasury issued final regulations under Section 224 of the Internal Revenue Code (added by the One, Big, Beautiful Bill Act) defining which occupations are eligible for the deduction for qualified tips, clarifying the definition of cash tips, excluding digital assets, limiting deductions, and establishing income phase-outs.

Editorial impact label: High

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Jun 12, 2026

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Regulations Amending the New Harmonized Value-Added Tax System Regulations, No. 2 (Ontario)

The Government of Canada enacted regulations on 12 June 2026 to enhance Ontario’s Harmonized Sales Tax (HST) rebates: specifically adjusting the New Housing Rebate and New Residential Rental Property Rebate to **temporarily relieve the 8% Ontario component** of HST on eligible new homes and rental properties, reducing costs for buyers.

Editorial impact label: Medium

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Jun 12, 2026

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Final Regulations Regarding Tip Occupations Under the ‘No Tax on Tips’ Provision

Final regulations implementing the 'No Tax on Tips' provision under the One, Big, Beautiful Bill; these define which occupations qualify and what counts as qualified tips for deduction, helping workers receive refunds and comply with new reporting requirements.

Editorial impact label: Medium

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Jun 12, 2026

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Treasury, IRS issue final regulations listing occupations where workers customarily and regularly receive tips under the One, Big, Beautiful Bill

These final regulations define which occupations are eligible for the “No Tax on Tips” deduction under section 224 of the Internal Revenue Code as amended by the One, Big, Beautiful Bill. They provide a list of over 70 occupations, clarify what constitutes qualified tips (cash, cards, electronic equivalents; tip sharing; exclusion of service charges without customer choice), and apply to tips received in tax year 2025, with regulations effective June 12, 2026. Workers in eligible occupations may deduct qualified tips up to $25,000 (subject to income phase-outs).

Editorial impact label: High

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Jun 12, 2026

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Final regulations listing occupations where workers customarily and regularly receive tips under the One, Big, Beautiful Bill (“No Tax on Tips”)

These final regs under OBBBA identify and codify occupations that customarily and regularly received tips as of Dec 31, 2024. They define “qualified tips,” set requirements (e.g. cash or equivalent, voluntary customer tips, etc.), provide a deduction for those tips, and allow many tipped workers to exclude those tips from taxable income (deduct on Schedule 1-A for tax year 2025 returns and forward). Effective date June 12, 2026.

Editorial impact label: High

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Jun 12, 2026

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Bangladesh

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S.R.O No 211-Ain/Aykor-2/2026: Income Tax Exemption for Renewable Solar Energy Sources

Bangladesh has introduced in S.R.O No 211/Ain/Aykor-2/2026 income tax exemption on income generated from renewable solar energy, promoting solar power projects and renewable energy sector investment.

Editorial impact label: Medium

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Jun 11, 2026

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Bangladesh

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S.R.O No 213-Ain/Aykor-4/2026: Rebate for Contributions and Donations

Notification in Bangladesh introducing income tax rebate facilities for taxpayers making contributions or donations under eligible categories, providing relief in taxable income or tax liability.

Editorial impact label: Low

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Jun 11, 2026

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Bangladesh

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S.R.O No 212-Ain/Aykor-3/2026: Exemption for Edible Oil Manufacturers using Locally Produced Oilseeds

Under this S.R.O, income earned by edible oil manufacturing industries in Bangladesh using locally produced oilseeds as raw materials is exempt from income tax, to incentivize domestic agriculture manufacturing value chains.

Editorial impact label: Medium

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Jun 11, 2026

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Bangladesh

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Income Tax SROs in Bangladesh for Exemptions: Edible Oil, Solar Energy & Donations

Bangladesh: S.R.O. Nos. 212, 211, and 213/Ain/Aykor- in June 2026 introduce various income tax exemptions: for edible oil manufacturers using local oilseeds; for electricity generated from renewable solar energy sources; and rebates for donations/contributions. These policies are aimed at supporting local industry, renewable energy and charitable giving.

Editorial impact label: Medium

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Jun 11, 2026

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