Scope: United Kingdom
Status requires verification
Modernising and mandating tax adviser registration with HMRC
Legislation requiring tax advisers who interact with HMRC on behalf of clients to register with HMRC and meet minimum standards. Digital registration opens from 18 May 2026 for most, with staggered deadlines for payroll-only advisers and firms. Designed to improve standards, transparency and accountability in the tax advice market.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS sets new interest rates for second quarter of 2026 for underpayments and overpayments
The IRS published updated interest rates for Q2 2026 (Apr-Jun) to apply to underpayments, overpayments, corporate vs non-corporate taxpayers, large corporate underpayments, and specific deposit rates under IRC 6603. These rates affect penalties, refunds, and accruals of interest for tax debts or overpayments.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Middle East
Status requires verification
Ministry of Finance announces amendments to Tax Procedures Executive Regulations effective April 2026
Amendments to Cabinet Decision No. 74 of 2023 (Executive Regulation of Federal Decree-Law No. 28 of 2022 on Tax Procedures), effective 1 April 2026. Changes include clarifications of voluntary disclosure procedures; refund procedures for taxpayer credit balances; extended record-retention where refund claim pending; extended document/asset preservation/seizure during audits; enhanced data confidentiality and disclosure rules.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: India & South Asia
Status requires verification
Notification No. 75/2026 – Non-Deduction of Tax Deducted at Source on Ship Lease Rent Paid to IFSC Units under Section 147 of the Income-tax Act, 2025
This Indian CBDT notification (3 July 2026) stipulates that no TDS shall be made under section 393(1)[Table S.No.2] of the Income-tax Act, 2025 on lease rent or supplemental lease rent payments by a lessee to a lessor that is a Unit of an International Financial Services Centre (IFSC), for lease of a ship, subject to submission of Form 1(N) and prescribed declarations covering 20 consecutive tax years. It aims to promote the IFSC ship leasing industry and offers cash-flow benefits to lessees.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
New VAT Threshold Adjustments Announced
The UK government has proposed adjustments to the VAT registration threshold, raising it from £85,000 to £90,000, effective from April 2026. This change aims to reduce the administrative burden on small businesses.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: India & South Asia
Status requires verification
Notification No. 74/2026 – Non-Deduction of TDS on Aircraft Lease Rent Paid to IFSC Units
India – CBDT notification that lease rent or supplemental lease rent payments made by lessees to lessors located in IFSC units for leasing **aircraft** will not be subject to Tax Deducted at Source (TDS) under Section 393(1) Table Sl. No.2 of the Income-tax Act, 2025, provided the lessor furnishes Form No. 1(N) declaring tax years, and lessee reports payments accordingly. Effective from 1 April 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Japan
Status requires verification
各対象会計年度の国際最低課税額に対する法人税等に関するＱ＆Ａ
Updates to Japan’s corporate international minimum tax rules in light of BEPS inclusive framework. Provides new Q&A guidance for accounting periods starting FY2026 (after April 1, 2026), clarifying reporting, rate thresholds, and applicability.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Overview of tax legislation and rates — Budget 2025: increases to Corporation Tax late filing penalties
The UK government will increase Corporation Tax late filing penalties for returns due on or after 1 April 2026: e.g. late returns will incur higher fixed penalties, escalating more for over-3-month delays and successive failures. This incentivises timely filing and increases risk for non-compliance.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
What's new for corporations: Changes to SR&ED enhanced credit and BC temporary manufacturing & processing investment tax credit
Federal changes include increasing the enhanced SR&ED tax credit expenditure limit from \$4.5 million to \$6 million. Provincial updates in British Columbia introduce a temporary refundable manufacturing & processing investment tax credit effective April 1, 2026, for Canadian-controlled private corporations investing in buildings and machinery/equipment used in manufacturing/processing. Also made permanent are certain BC film, television, book publishing, and farmers’ food donation tax credits. These changes reduce costly barriers for innovation and investment in manufacturing and content production.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Extending alcohol excise duty relief to support Canadian businesses
Effective April 1, 2026, the Canadian government extended two measures through to 2028: (1) capping the annual inflation adjustment for excise duty on beer, spirits and wine at **two percent**, and (2) maintaining a **50% duty cut** on the first **15,000 hectolitres** of beer brewed domestically. These changes provide stability and substantial tax savings for craft breweries and related businesses during economic uncertainty. The inflation cap limits tax increases, while the duty reduction directly lowers duty costs for eligible producers.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Japan
Status requires verification
通勤手当の非課税限度額の改正
As of April 1, 2026, the non-taxable limits for commuting allowances (通勤手当) for employees using vehicles have been raised. For example, those commuting over 55 km one-way now enjoy a non-taxable entitlement of ¥38,700/month (up from ¥31,600). Other distance bands similarly increased. These changes retroactively apply for allowances paid from that date.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Income Tax (Digital Obligations) Regulations 2026 – Making Tax Digital for ITSA
Legislation bringing digital record-keeping requirements for unincorporated businesses and landlords into effect from 1 April 2026 for those with a qualifying income over £50,000. Requires use of MTD-compatible software, quarterly updates of income and expenses and annual Self Assessment under digital data obligations. Thresholds drop to £30,000 in April 2027 and £20,000 in April 2028. Includes exemptions for digitally excluded, ministers of religion etc.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Japan
Status requires verification
令和８年度税制改正の大綱 (FY2026 Tax Reform Outline)
The FY2026 tax reform significantly adjusts top income rates—reducing the threshold for the special tax from ¥330 million to ¥165 million yen, raising the rate from 22.5% to 30%, expands blue return deductions via e-Tax, tightens rules for foreign subsidiary taxation and implements global minimum tax. Applicable for income and fiscal years beginning April 1, 2026 or later. Affects both individuals and corporations, especially high net worth persons and multinational groups.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: India & South Asia
Status requires verification
Income-tax (Third Amendment) Rules, 2026 (introducing Form ITR-BN & Rule 332 amendment for search/requisition cases)
According to Notification No. 97/2026 [F. No. 370142/11/2026-TPL], CBDT has notified the Income-tax (Third Amendment) Rules, 2026. These rules introduce a new return form — **ITR-BN** — and amend Rule 332 by inserting Appendix IV to govern returns in search and requisition cases. The changes are applicable from **1 April 2026**, i.e. for Assessment Year 2026-27. Implications include mandatory block return (ITR-BN) filings for persons/entities subject to search under Section 132 or requisition under Section 132A, with requirements to declare income (including undisclosed), assets, liabilities, and other material facts for multiple prior years.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Personal Support Workers Tax Credit (Budget 2025 proposal)
Budget 2025 proposes a new refundable **Personal Support Workers Tax Credit** over five years, allowing eligible PSWs in provinces/territories without a federal-provincial agreement to claim **5% of eligible income**, up to **$1,100 per year**, beginning with fiscal year 2026-27. Also proposes funding to improve foreign credential recognition in key sectors.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: India & South Asia
Status requires verification
Notification No. 75/2026: Non-deduction of TDS on ship lease rent paid to IFSC Units (India)
Under Notification No. 75/2026, the CBDT specifies that no deduction of tax under section 393(1) (i.e. TDS) shall be made on payments in the nature of lease rent or supplemental lease rent made by a lessee to an IFSC Unit for lease of a ship, subject to certain declarations for twenty consecutive tax years, effective from 1 April 2026. High impact for shipping, leasing, IFSC sector operations.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Extension of alcohol excise duty relief for breweries, distillers and winemakers
Effective **April 1, 2026**, the federal government extended two excise duty relief measures for a further two years: capping the inflation adjustment on beer, spirits, and wine excise duties at **2%**, and maintaining a **50% reduction** in excise duty on the first 15,000 hectolitres of beer brewed in Canada. Expected relief is over **$30 million** through to 2028, particularly benefiting small/local producers.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Extension of Alcohol Excise Duty Relief Measures
The federal government has extended for an additional two years, effective April 1, 2026, the two-percent cap on inflation adjustments for excise duties on beer, spirits, and wine, along with the 50 % reduction in excise duty rates for the first 15,000 hectolitres of beer brewed in Canada. These measures provide tax relief for breweries and producers, especially small-scale ones, by limiting rate hikes and lowering duty costs on early volumes.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Enhancing HMRC’s powers to tackle tax advisers who facilitate non-compliance
Legislation in the UK’s Finance Bill 2025-26 will strengthen HMRC’s powers from 1 April 2026 to issue file access notices without tribunal approvals, impose higher penalties, allow HMRC to publish adviser misconduct, and expand the scope of conduct viewed as facilitating non-compliance. Aim is to deter adviser-facilitated tax evasion or avoidance.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Ontario enhanced new housing rebate (ENHR)
From April 1, 2026 to March 31, 2027, homebuyers in Ontario purchasing a new home from a builder or commencing construction under certain owner-built criteria may qualify for a **temporary top-up rebate** to the Ontario new housing rebate under the GST/HST regime. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses/gst-hst-rebates/housing-rebates/ontario-enhanced-new-housing.html?utm_source=openai))
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source