Scope: India & South Asia
Status requires verification
Income-tax (Third Amendment) Rules, 2026 – introduction of Form ITR-BN and Appendix IV for search & requisition cases (India)
CBDT notified the Income-tax (Third Amendment) Rules, 2026 (Notification No. 97/2026 [F. No. 370142/11/2026-TPL]), which introduce a **new form ITR-BN** and amend Rule 332 by inserting **Appendix IV** governing returns in search and requisition cases. Effective from 1 April 2026, it targets taxpayers subject to search or requisition by tax authorities. Implications include additional disclosures, specialized return format, and stricter documentation for affected taxpayers.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Apr 1, 2026
- Verification
- Not recorded
Open cited source
Scope: HK & Taiwan
Proposed
Inland Revenue (Amendment) (Tax Deductions for Intellectual Property Expenditure) Bill 2026
Hong Kong published a Bill proposing broader tax deductions for qualifying capital expenditure on the purchase of intellectual-property rights and licences to use intellectual-property rights. The proposal includes a main-purpose test for purchases from associates, special calculation rules for purchases from Hong Kong associates and independent valuation requirements for certain substantial related-party transactions. It is a proposed legislative change and is intended to apply to contracts entered into on or after April 1, 2026, subject to enactment.
Editorial impact label: High
- Published
- Oct 27, 2026
- Policy event
- Not recorded
- Effective
- Mar 31, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
British Columbia book, food donation, and film & television tax credit changes
Under the 2026-02 Budget, British Columbia has made its book publishing tax credit and farmers’ food donation tax credit permanent (effective March 31, 2026 and upon royal assent), and extended the period for claiming the film & television tax credit from 18 months to 36 months, removed the requirement for a completion certificate for certain corporations as to claims due after mid-February 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 31, 2026
- Verification
- Not recorded
Open cited source
Scope: Japan
Status requires verification
令和８年度税制改正 省令
These ministerial ordinances adjust tax regulations following the FY2026 Tax Reform Act (No. 12 of 2026), including changes to income tax, corporate tax, consumption tax, and tax special measures, particularly concerning bookkeeping, e-transaction records, and advance confirmation for investment credits. Ensures law-level reforms are operationalized in relevant regulations.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 31, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS announces tax relief for taxpayers impacted by severe winter storms in the State of Louisiana; various deadlines postponed to March 31, 2026
Tax returns and estimated payments originally due between January 22 and March 31, 2026, for individuals, corporations, estates/trusts, partnerships, and certain excise & employment tax returns are postponed with penalty relief for affected taxpayers residing or operating in disaster-declared areas in Louisiana. Returns, payments & time-sensitive acts postponed until March 31, 2026. Certain information returns and employment tax deposits excluded.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 31, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada – British Columbia
Status requires verification
British Columbia Books Publishing & Farmers Food Donation Tax Credits Made Permanent
In BC, the book publishing tax credit and the farmers' food donation credit have been made permanent. Also, the period for submitting claims for the film & television credit has been extended from 18 to 36 months after fiscal year end, and filing a completion certificate with CRA is no longer required for certain claims after February 16, 2026. These changes apply retroactively starting in 2026. They reduce administrative burdens and increase planning certainty for BC corporations.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 31, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Making Tax Digital for Income Tax: digital record-keeping direction
New regulations (Income Tax (Digital Obligations) Regulations 2026) require individuals with property income or jointly let property, even below the VAT registration threshold, to maintain digital records under MTD-IT obligations. This direction clarifies who is “relevant person” and obliges digital bookkeeping for property income and jointly let properties regardless of VAT status.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 27, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Canada Carbon Rebate for Small Businesses declared non-taxable income
As of legislation passed March 26, 2026, the Canada Carbon Rebate for Small Businesses is non-taxable for all fuel charge years. CRA will adjust T2 returns where this rebate was included in taxable income, removing it automatically if properly indicated. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/business-tax-credits/canada-carbon-rebate-small-businesses.html?utm_source=openai))
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Transfer pricing framework modernization under section 247
Bill C-15, Budget 2025 Implementation Act, No. 1, received Royal Assent on **March 26, 2026**, introducing a **single operative adjustment rule** replacing the prior two-part system for transfer pricing adjustments and transaction recharacterization under section 247 of the Income Tax Act. Taxpayers are required to update their compliance processes accordingly. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/information-been-moved/transfer-pricing.html?utm_source=openai))
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Underused Housing Tax Act changes – cancellation of returns & tax for 2025 and later years
Bill C-15, which implements certain provisions of Budget 2025, received Royal Assent on March 26 2026. Under these changes, affected owners do **not** need to file an Underused Housing Tax (UHT) return or pay UHT for calendar years **2025 and subsequent**. The filing and tax obligations still apply for 2022-2024. Returns already filed for 2025 by affected owners will be cancelled and the CRA will notify owners. This removes a tax burden and compliance requirement for many property owners.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Legislation passes to implement Budget 2025: Canada Strong
With Royal Assent granted to Bill C-15 (Budget Implementation Act, 2025, No. 1) on March 26, 2026, the government implemented tax and benefit measures including: the Productivity Super-Deduction to allow immediate deduction for new capital investments; automatic federal benefits and pre-filled tax returns for low-income Canadians (reaching up to 5.5 million by tax year 2028); reduction of the lowest personal income tax rate from 15 % to 14 % starting July 1, 2025; removing GST on new homes for first-time buyers; and permanently removing the consumer carbon price. Implications include improved cash flow for businesses investing in capital, tax relief for millions of individuals, and administrative simplification for taxpayers and CRA.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Clean Electricity Investment Tax Credit under Bill C-15
As of Royal Assent of Bill C-15 on March 26, 2026, the Clean Electricity refundable investment tax credit (ITC) of up to **15%** applies to eligible clean electricity property (solar, wind, storage, transmission) acquired and available for use from specified dates, expanding clean economy incentive.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Non-taxability of the Canada Carbon Rebate for Small Businesses
Legislation passed on **March 26, 2026** now makes the Canada Carbon Rebate for Small Businesses **non-taxable** for all fuel charge years. The CRA is reviewing past corporation returns (T2) that may have included the rebate and will adjust if necessary. ([canada.ca](https://www.canada.ca/en/revenue-agency/news/e-services/canada-revenue-electronic-mailing-lists/businesses-tax-information-newsletters/businesses-newsletter-2026-05-21.html?utm_source=openai))
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Transfer pricing modernization under section 247 of the Income Tax Act (Bill C-15)
With Bill C-15 (Budget 2025 Implementation Act, No. 1) receiving Royal Assent on March 26, 2026, Canada modernized its transfer pricing framework. Notably, it introduced a single operative adjustment rule and a statutory interpretation provision requiring the new rules to align with the OECD 2022 Transfer Pricing Guidelines. These changes apply to all in-scope related-party transactions under section 247.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Modernization of Canada’s transfer pricing framework under section 247
Bill C-15, Budget 2025 Implementation Act, No. 1, received Royal Assent on March 26, 2026. Key change is consolidation into a **single operative adjustment rule** under section 247 of the Income Tax Act: replacing the earlier separation between pricing adjustments and characterization/recharacterization. Taxpayers should review all transactions with related non-residents for both pricing and nature of obligation differences. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/information-been-moved/transfer-pricing.html?utm_source=openai))
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Canada Carbon Rebate for Small Businesses: Update on the taxability of the Canada Carbon Rebate for Small Businesses
Legislation passed on March 26, 2026 makes the Canada Carbon Rebate for Small Businesses non-taxable for all fuel charge years (2019-20 through 2024-25). Eligible Canadian-controlled private corporations (CCPCs) no longer need to include rebate payments in their taxable income; payments will be issued automatically by the CRA where conditions are met. This provides clarity and boosts after-tax income for small business owners.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 26, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Reforms to make it easier for overseas companies to move to the UK
On 25 March 2026 the UK government launched a consultation to create a UK corporate re-domiciliation regime. It aims to simplify and reduce cost for overseas companies to move their place of incorporation to the UK, aligning with regimes in Singapore, Hong Kong, Australia and certain US states. This proposed regime is inward-only and would allow entities to re-domicile without winding up foreign entity.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 25, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Notice 2026-4: Request for Comments on Electronic Furnishing of Certain Payee Statements
Under IRS Notice 2026-4 (Internal Revenue Bulletin 2026-13, March 23, 2026), the Treasury Department and IRS are soliciting public input on modifying the current requirements for furnishing payee statements—such as Forms 1099 and W-2—and particularly those relating to Forms 1099-DA, to be delivered electronically. Key topics include consent procedures, notification, format requirements, access periods, and whether non-broker entities should also be covered under these updated electronic furnishing rules.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 23, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Proposed
Internal Revenue Service: Internal Revenue Bulletin 2026-13 — Notice 2026-4 and REG-105064-25 on Electronic Furnishing of Payee Statements including Form 1099-DA
These proposed regulations would allow brokers to furnish Statements (e.g. Form 1099-DA for digital asset broker transactions) to customers electronically in lieu of paper, if consent is obtained. Notice 2026-4 seeks comments whether existing electronic furnishing requirements for brokers and persons furnishing payee statements should be modified, including those beyond brokers.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 23, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Internal Revenue Bulletin: 2026-13 – Proposed regulations on electronic furnishing of payee statements and Section 6434 Trump Account program
The IRS published proposed regulations in IRB 2026-13 (March 23, 2026) related to reforms from the One Big Beautiful Bill. These include allowing brokers to furnish 1099-DA digital asset statements electronically (with customer consent) without offering paper statements; and implementation guidance for the pilot Trump Account contribution election under IRC § 6434. The changes aim to modernize delivery and introduce new benefit elections. Implications affect broker/financial firms’ reporting processes and parents/caregivers making Trump Account elections.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Mar 23, 2026
- Verification
- Not recorded
Open cited source