Scope: United Kingdom
Status requires verification
UK-to-UK exemption under transfer pricing rules for chargeable periods beginning on or after 1 January 2026
Changes under TIOPA10/S164A introduce an exemption from transfer pricing for domestic (UK-to-UK) provisions if qualifying criteria are met (UK residency, same corporation tax rate, same accounting currency, etc.). For contracts or arrangements that fail those criteria, or where HMRC issues a notice, transfer pricing rules still apply. This reduces compliance costs for UK companies dealing only with other UK companies in many cases.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
SPRING ECONOMIC UPDATE 2026: Tax measures – Employee Ownership Trust Tax Exemption made permanent
The Spring Economic Update 2026 proposes to make permanent the temporary capital gains exemption (up to CAD$10 million) for qualifying dispositions of shares when a business is sold to an Employee Ownership Trust or worker cooperative corporation. Previously, this exemption was time-limited through 2026. The change encourages shared ownership and supports business succession planning, enabling business owners to transfer ownership tax-efficiently.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Proposed Regulations on Remittance Transfer Tax Established Under the One, Big, Beautiful Bill
These proposed regulations clarify definitions and rules for the 1% remittance transfer tax, including which physical payment methods apply, how tax liability is allocated (sender vs. provider), timing and forms of deposits and filings (Form 720), and request for public comments due by June 12, 2026.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Notice 2026-36: Intent to Issue Proposed Regulations for Excise Tax on Excess Tax-Exempt Organization Executive Compensation under the One, Big, Beautiful Bill
This policy expands the definition of “covered employee” for Section 4960 excise tax to include any employee of an applicable tax-exempt organization earning over $1 million or receiving excess parachute payments, not just the top five highest paid. Exceptions for limited hours and nonexempt funds will remain until more guidance is released. Comments due by August 4, 2026.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Spring Economic Update 2026: New temporary relocation expense deduction & employee ownership trust exemption proposal
The 2026 Spring Economic Update proposes to increase the cap on temporary relocation expenses deduction from $4,000 to $10,000 starting in taxation year 2026, and proposes making the capital gains exemption on up to $10 million for dispositions to employee ownership trusts or worker co-ops permanent. These are legislative proposals—not yet enacted, but slated to apply for relevant taxation years.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
Proposed Regulations on Excise Tax for Remittance Transfers Under the One, Big, Beautiful Bill
Treasury and IRS issued proposed regulations (IR-2026-48) clarifying the 1% remittance transfer tax imposed from Jan. 1, 2026, under the One, Big, Beautiful Bill. The proposal defines taxable instruments (cash, money order, cashier’s check, similar physical instruments, adding traveller’s checks), scope of transactions, timing of tax attachment, and excludes non-taxable instruments. Comments due June 12, 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Final regulations listing occupations where workers customarily and regularly receive tips under the One, Big, Beautiful Bill
The final regulations under OBBB Act define a list of over 70 occupations eligible for the “No Tax on Tips” benefit, clarify what counts as qualified tips (cash, tip-sharing, voluntary payments), and allow gig workers/self-employed who meet the criteria. Enables eligible workers to claim refunds and exclusions beginning with tax year 2026.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Notice 2026-25: Housing expense limit adjustments for foreign locations under IRC § 911
Notice 2026-25 updates the **maximum housing cost limits** (housing expense exclusion or deduction) for tax year 2026 under IRC section 911, for U.S. taxpayers living abroad in certain high-cost foreign localities. It defines new adjusted caps for many locations, allowing higher exclusions than the standard statutory maximum of $39,870; also allows election to use 2026 adjusted limit on 2025 returns where higher.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Proposed Regulations on the Remittance Transfer Tax Under the One, Big, Beautiful Bill
Beginning January 1, 2026, U.S. law imposes a 1% excise tax on remittances sent from the United States to foreign recipients when using physical means (cash, money order, cashier’s check, etc.). Treasury and IRS issued proposed regulations in April 2026 clarifying who is liable, scope of taxable amount, instrument definitions, and preparation of deposits and returns (Form 720). Public comment period closed June 12, 2026. These aim to operationalize the new excise tax.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Mandatory Foreign Permanent Establishment Exemption
The existing foreign PE exemption election for UK-resident companies will become mandatory: companies must exclude profits and losses from foreign permanent establishments from their UK Corporation Tax computation. Oil & gas firms apply from 1 September 2026; all others for accounting periods beginning on or after 1 January 2027. Includes transitional rules and anti-avoidance measures.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
IRS issues proposed regulations on the new remittance transfer tax established under the One, Big, Beautiful Bill
The Treasury and IRS issued proposed regulations under the One, Big, Beautiful Bill imposing a **1 % excise tax** on remittances sent via physical instruments (cash, money order, cashier’s check etc.) from the U.S. to foreign recipients. Senders are liable if provider collects correctly; providers have deposit, return filing requirements. The regulations clarify taxable base, definitions of physical instruments, and reporting responsibilities under Form 720. Comments due by June 12, 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026: Supplementary Tax Measures
Proposed extension of the five-year grace period under the Home Buyers’ Plan to apply for first RRSP withdrawals up to end of 2028; raise the eligible deduction limit for the Labour Mobility Deduction for Tradespeople from $4,000 to $10,000 annually; increase in distance requirement modified for temporary lodging; applied from the 2026 taxation year onwards.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Spring Economic Update 2026: Tax measures — Supplementary information (Canada Strong for All)
The Spring Economic Update 2026 confirms that Canada will make several proposed tax measures permanent or expanded. Notably, it proposes making the Employee Ownership Trust tax exemption permanent; extends the Home Buyers' Plan grace-period and modifies repayment schedules; increases the Labour Mobility Deduction for Tradespeople from $4,000 to $10,000 starting in 2026 and changes the distance requirement. These affect both individuals and businesses, with significant budgetary and planning implications.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Treasury, IRS issue proposed amendments to reporting thresholds under OBBB raising certain information-reporting threshold to $2,000 and limiting wagering loss deductions to 90 %
Under the One, Big, Beautiful Bill, section 70433 increases the threshold that triggers reporting under section 6041(a) from $600 to **$2,000** for payments made after December 31, 2025. Also, deductions for wagering losses (by taxpayers who itemize) are now limited to **90 %** of gambling gains under section 165(d). The IRS has proposed regulation amendments to bring existing regulations in line with these statutory changes.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Spring Economic Update 2026: Extension of HBP Grace Period and Expansion of Labour Mobility Deduction
The Spring Economic Update 2026 proposes to extend the five-year grace period before repayment of the Home Buyers' Plan (HBP) begins for first withdrawals made up to December 31, 2028. It also proposes increasing the labour mobility deduction for eligible tradespeople from $4,000 to $10,000 per year and relaxing the distance requirement for temporary relocation eligibility. These changes aim to lower financial barriers for home buyers and tradespeople who relocate for work.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: USA
Proposed
Proposed regulations on U.S. remittance transfer tax under the One, Big, Beautiful Bill
In the U.S., beginning Jan 1, 2026, a new 1 % excise tax on certain remittances sent abroad applies. IRS/Treasury issued proposed regulations in April 2026 to define scope, instruments, collection rules, and taxpayer/provider obligations; comments are due June 12, 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
U.S. proposed remittance transfer excise tax rules under OBBB Act
Beginning January 1, 2026, the One, Big, Beautiful Bill Act imposes a 1 % excise tax on remittances sent from the United States via physical instruments (cash, money order, cashier’s check, etc.) to recipients abroad. The Treasury and IRS issued proposed regulations clarifying scope, definitions, rates, and reporting requirements, including providers’ responsibilities to collect tax, make deposits semimonthly, and file returns quarterly. Comments were due June 12, 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: CA-NL (Canada – Newfoundland and Labrador)
Status requires verification
What’s new for corporations – Newfoundland and Labrador lower corporate income tax rate reduced retroactively to January 1, 2026
Newfoundland and Labrador province in Canada reduced its lower general corporate income tax rate from **2.5% to 2.0%**, effective **January 1, 2026**, with further reductions phased over the next two years. This applies to corporations operating in the province and affects tax planning, cash flow, and corporate structuring decisions.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Proposed
IRS issues proposed regulations on the new remittance transfer tax established under the One, Big, Beautiful Bill
The U.S. Treasury and IRS proposed regulations covering the 1% excise tax on remittances sent from the U.S. funded by physical instruments (cash, money orders, cashier’s checks, etc.). These rules clarify definitions, delineate collection and reporting duties (via Form 720), and specify tax base and affected instruments.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Capital Gains Inclusion Rate Increase
Effective January 1, 2026, the inclusion rate for capital gains increases from 50% to approximately 66⅔% for individuals’ gains over $250,000 annually, and to 66⅔% on all capital gains realized by corporations and most trusts. This raises taxable inclusion, increasing tax payable for high gains.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source