Scope: India & South Asia
Status requires verification
CBDT notifies Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (Notification No. 114/2026)
The Central Board of Direct Taxes (India) has issued Notification No. 114/2026 [F. No. 370142/18/2026-TPL] establishing rules and prescribed forms under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026. Taxpayers with foreign assets must disclose them via prescribed forms. Scheme effective for AY 2026-27 onwards.
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
What's New for Corporations: BC & Manitoba Tax Credits, Rates, and SR&ED Updates
Provincial updates effective in 2026 include: British Columbia introducing a temporary refundable manufacturing & processing investment tax credit for CCPCs starting April 1, 2026; amendments to the BC SR&ED refundable credit expanding to eligible public corporations; Manitoba’s Small Business Venture Capital Tax Credit modified to recognize SAFEs and include limited partnerships; expansion of provincial film & video production tax credits. These enhance incentives for corporations investing in manufacturing, R&D, and investment structures.
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. 39/2026: Amending Protocol of India-Brazil DTAA Enters into Force in India
Government of India has notified by Notification No. 39/2026 (S.O. 1647(E), dated 30 March 2026) that the Protocol amending the India-Brazil Double Taxation Avoidance Agreement (originally signed in 1988, amended 2013), signed on 24 August 2022, shall apply in India for income arising in any previous year on or after 1 April immediately following the calendar year in which the Protocol entered into force (i.e. 1 April 2026). This brings updated treaty rules into effect for Brazil-India cross-border income.
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
源泉所得税の改正のあらまし
Updates to withholding tax: non-taxable caps for employer provided meals raised from ¥3,500 to ¥7,500/month; meal/commute allowance revisions; changes apply for payments from April 1, 2026.
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. 80/2026: Exemption from TDS on Certain Payments to Eligible IFSC Units (India)
Under Notification No. 80/2026 [F. No. 275/19/2026-IT(B)], the Central Board of Direct Taxes (CBDT) has exempted payments such as interest, dividends, professional fees, commission, brokerage, and other financial-service-related income received by **eligible IFSC Units** from deduction of tax at source (TDS) under the Income-tax Act, 2025. This change takes effect from 1 April 2026 (Assessment Year 2026-27).
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
Income-tax (Third Amendment) Rules, 2026 - introduction of Form ITR-BN & Amendment of Rule 332
The Central Board of Direct Taxes issued Notification No. 97/2026 [F. No. 370142/11/2026-TPL] to notify the Income-tax (Third Amendment) Rules, 2026. The changes introduce **Form ITR-BN** and amend Rule 332 by inserting **Appendix IV**, governing returns relating to *search and requisition* cases. These amendments are made 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
見直し：給料等の差押禁止額の引上げなど納税者保護措置
The 令和８年度 tax reform revises the thresholds for wage garnishment prohibition. The minimum portion exempt from seizure in wages and other salary‐type payments will increase: the base amount per month rises from ¥100,000 to **¥107,000**; for a spouse or other dependent living with the taxpayer, an additional **¥48,000** per person (previously ¥45,000) will be added. The reform also expands protection of grants and support payments (e.g. student aid or welfare) from being seized by tax authorities. These measures become effective April 1, 令和８ (2026).
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
MTD and penalty reform: powers introduced from 1 April 2026
New powers will take effect from 1 April 2026 to support administration of Making Tax Digital and reform penalties: enabling HMRC to cancel/reset late submission penalty points and associated financial penalties. This aims to ensure the new regime (MTD + penalty reform) works as intended. ([gov.uk](https://www.gov.uk/government/publications/making-tax-digital-for-income-tax-and-penalty-reform?utm_source=openai))
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
Income Tax Folio S5-F2-C1, Foreign Tax Credit
Canadian residents are generally taxed on their worldwide income. This recently published folio clarifies how foreign taxes paid (business or non-business) can be claimed under section 126 to offset Canadian taxes, how income types and treaties affect the limit, and ensures double taxation relief is coherent under modern cross-border circumstances.
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
Income-tax (Third Amendment) Rules, 2026 on Form ITR-BN & Rule 332 Amendment
The Central Board of Direct Taxes (CBDT) via Notification No. 97/2026 has notified the Income-tax (Third Amendment) Rules, 2026, to introduce a new Form ITR-BN, and to amend Rule 332 by inserting Appendix IV to govern returns relating to search and requisition cases, effective from 1 April 2026. This specifically affects taxpayers subject to search/requisition and requires them to use ITR-BN instead of previous ITR forms; also modifies how DIN (Document Identification Number) and mandatory disclosures are handled.
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
Spring Economic Update 2026 – Key Measures (Excise, Mobility, CPP Changes)
Among other measures, this update suspends the federal fuel excise tax from April 20 to September 7, 2026; extends excise duty relief for alcohol (2% cap on inflation adjustment plus 50% reduction for first 15,000 hL beer brewed) effective April 1, 2026; increases the mobility deduction threshold (distance reduced from 150 km to 120 km, and the maximum annual deduction increased from $4,000 to $10,000); and reduces the base CPP contribution rate from 9.9% to 9.5% effective January 1, 2027.
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
Interest rates for the second calendar quarter
CRA sets prescribed annual interest rates effective April 1 to June 30, 2026 for the rate charged on overdue taxes (CPP, EI and others), overpayments to corporate and non-corporate taxpayers, and rates for corporate loans or indebtedness. These rates directly affect interest calculations for taxpayers owing or expecting refunds during this period.
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 effective April 1, 2026
The federal government extended by two years the cap of 2% on inflation adjustments to excise duties on beer, spirits, and wine, and continued a 50% reduction in excise duty rates for the first 15,000 hectolitres of beer brewed in Canada starting April 1, 2026.
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
Requirement for tax advisers to register with HMRC and meet minimum standards
Introduces mandatory registration for all tax advisers interacting with HMRC on behalf of clients, requiring them to meet minimum regulatory standards. Phased rollout of windows starts 18 May 2026; operative date of the legal requirement is 1 April 2026.
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
CRA’s 2026-27 Departmental Plan
The Canada Revenue Agency’s 2026-27 Departmental Plan outlines major upcoming changes: expanding **automatic federal benefits and tax filing** for low-income individuals (pre-filled returns for up to 5.5 million by 2028); strengthening compliance in high-risk sectors (real estate, non-resident income, GST/HST fraud); modernizing services via digital tools, AI, and secure identity verification; and phasing out certain programs like the Digital Services Tax and fuel charge. These changes will require taxpayers to adapt to new processes and increased audit risk in some areas.
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 introduced – Form ITR-BN & Rule 332 amendment
India-wide policy: The CBDT , via Notification No. 97/2026 [F. No. 370142/11/2026-TPL], has notified the Income-tax (Third Amendment) Rules, 2026, which introduce a new return form **ITR-BN** and amend Rule 332 by inserting Appendix IV to govern returns in cases of search or requisition. These changes are effective from **1 April 2026**. Implications include enhanced disclosure requirements for affected taxpayers, possible compliance complexity, and a need to adapt reporting.
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
所得税の基礎控除等の引上げ等
年度税制改正の大綱（令和8年度）で、物価高への対応として基礎控除額が合計所得2,350万円以下の個人で40万円引き上げられ、給与所得控除の最低保障額も65万円から69万円に引き上げられた。
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
Temporary measures under the Temporary Foreign Worker Program for rural employers
From April 1, 2026 to March 31, 2027, eligible employers in rural areas may retain their current proportion of low-wage positions filled by temporary foreign workers even if it exceeds the usual cap; or be subject to an increased cap of **15%** instead of **10%** for low-wage positions in participating provinces/territories. Employers must meet LMIA and recruitment requirements. This supports rural labour needs while maintaining compliance obligations under the Temporary Foreign Worker Program.
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
Advance Corporation Tax (ACT) Reform: Call for Evidence
Shadow ACT rules, which limit businesses’ use of surplus ACT credits, will be removed effective from 1 April 2026. The government is gathering evidence on how to implement the removal and the future of the remaining ACT regime.
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: No Deduction of Tax on Lease Rent by a Lessee to a Unit in IFSC for Aircraft Lease Payments
Under the India Income-tax Act, 2025, notification specifies that no deduction of tax under section 393(1) on payments in the nature of lease rent or supplemental lease rent made by a person (lessee) to a lessor which is a Unit located in an International Financial Services Centre (IFSC), for lease of an aircraft, provided certain conditions including furnishing a statement-cum-declaration in Form No. 1(N) over twenty consecutive tax years, are met. Effective from April 1, 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source