Scope: China
Status requires verification
国家税务总局关于企业重组业务所得税处理有关征管问题的公告 国税公告2026年第13号
Clarifies that from 1 January 2026, special income tax treatment for reorganization can apply where **resident enterprise shareholders covering more than 50%** of shareholding reach agreement (rather than needing agreement from 100%); expands eligible shareholder types, adds 12-month post-reorg holding requirement, and regulates fair value adjustments when general tax treatment applies.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Global
Proposed
Government of Canada announces extended tax deferral period for livestock producers affected by 2024 and 2025 bovine tuberculosis events
Proposed amendments to the Canadian Income Tax Act will allow livestock producers in Alberta, Saskatchewan, and Manitoba who received compensation for animals destroyed due to bovine tuberculosis to defer inclusion of that compensation in taxable income under a prescribed schedule spanning tax years 2027-2030, rather than in the single year of receipt.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Government of Canada announces extended tax deferral period for livestock producers affected by 2024 and 2025 bovine tuberculosis events
The Government of Canada intends to propose amendments to the Income Tax Act to **extend the income-tax deferral period** for livestock producers in Alberta, Saskatchewan, and Manitoba who received compensation for animals ordered to be destroyed due to bovine tuberculosis outbreaks in 2024-2025. Under the existing section 80.3, a one-year deferral was allowed; the proposed schedule would stretch deferral of inclusion over 2027 to 2030 with prescribed percentages of the compensation included each year, easing income spikes for producers rebuilding herds.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Free options and resources for preparing and filing taxes in 2026
IRS Free File and related programs remain available to U.S. taxpayers with AGI up to $89,000. The guidance also points to resources for secure electronic filing, state return assistance, and ways to avoid fraud. Important for compliance, especially among lower- and middle-income taxpayers who can avoid paid software or tax preparers.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Automatic Federal Benefits for Lower-Income Individuals (Budget 2025)
Budget 2025 proposes amendments to the Income Tax Act to allow the CRA to file tax returns on behalf of eligible lower-income individuals (“Automatic Federal Benefits”). Eligible individuals who haven’t filed, whose income is below certain thresholds, and whose income sources are already reported via CRA slips may have pre-filled returns reviewed and accepted; returns not affirmatively reviewed in 90 days may be filed automatically. This applies for the 2026 taxation year onward. The policy aims to help 5.5 million low-income Canadians by 2028.
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
Revision to Foreign Earned Income Exclusion Limits and Housing Exclusions for 2026
For tax year 2026, the maximum foreign earned income exclusion increased to $132,900 per qualifying individual, and the housing expense limit increased to $39,870. These adjustments affect U.S. citizens and resident aliens abroad who meet the bona fide residence or physical presence test.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: China
Status requires verification
国家税务总局印发公告 进一步优化企业重组所得税处理征管规定
This regulation revises the 12-month/100%一致性 (full shareholder agreement) requirement for special tax treatment in enterprise reorganizations, lowering the required level to **50%** resident enterprise shareholder agreement, expanding eligible entity types, and setting stricter rules for post-restructure transfers that reduce that qualifying proportion.
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
Automatic tax filing & pre-filled returns for low-income Canadians starting in tax-year 2026
Beginning with the 2026 tax year, CRA will launch automatic tax filing for about 1 million low-income Canadians with simple tax situations, scaling up to approximately 5.5 million by tax-year 2028. Pre-filled returns via My Account will include verified information from CRA, making it easier to access benefits and credits. This initiative complements the SimpleFile services and outreach to vulnerable and non-filing populations. Enhanced auto-fill and benefit access components are included.
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
One, Big, Beautiful Bill inflation adjustments for tax year 2026
In October 2025, IRS released inflation adjustments for over 60 tax provisions for tax year 2026 under the One, Big, Beautiful Bill. Highlights include increased standard deductions (e.g. to $32,200 for married filing jointly), higher AMT exemption amounts, updated tax brackets, adoption credit increases, foreign earned income exclusion, and higher limits on various benefits.
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
Canada Revenue Agency’s 2026-27 Departmental Plan
CRA’s plan for 2026-27 includes implementing the tax relief measures in Bill C-4, launching automatic tax filing for about 1 million people in 2027 and pre-filled returns reaching about 5.5 million by 2028, with expanded measures to improve compliance, service and digital transformation.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: China
Status requires verification
财政部 税务总局关于离岸信托个人所得税有关事项的公告（2026年第21号）
Starting January 1, 2026, resident individuals who place assets into offshore trusts, or receive income from them, are required to declare and pay Personal Income Tax on trust principal and income during the trust’s existence. Non-residents receiving distributions also must declare. Unreported income from 2023-2025 must be filed within 90 days of announcement without penalties. Enforcement includes adjustment if transactions lack substance or independent-party basis.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: China
Status requires verification
国家税务总局关于企业重组业务所得税处理有关征管问题的公告（2026年第13号）
With effect from January 1, 2026, the requirement for unanimous shareholder agreement in enterprise reorganizations to apply “special (deferred) tax treatment” is eased: resident enterprise shareholders holding ≥50% equity (plus top-10 residents or those with ≥5% each) reaching agreement suffices. The policy broadens the category of parties eligible and aims to improve practicability of tax treatment in M&A and restructuring.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
해외금융계좌·해외신탁 신고의무: 해외자산 신고 강화
거주자 또는 내국법인이 2025년 말 기준으로 보유한 해외금융계좌 잔액 총합이 어느 하루라도 ₩500 million을 초과하면 해외금융계좌 신고 의무가 발생. 또한 해외신탁 설정자 위탁자 등이 통제 및 관리하는 해외신탁이 있는 경우 신탁명세서 제출 의무도 발생. 미신고 또는 허위신고시 과태료 부과 가능.
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: Determination of Housing Cost Amounts Eligible for Exclusion or Deduction for 2026
This notice updates the foreign housing limitations for tax year 2026. The maximum foreign earned income exclusion is $132,900; base housing amount is set at 16% of that ($21,264), and the general cap on housing expenses is 30% ($39,870). Geographic adjustments apply for certain locations. This affects U.S. persons abroad claiming the Foreign Housing Exclusion or Deduction under IRC §911.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Business investment boosted with new 40% First-Year Allowance and reduced main rate Writing-Down Allowance
From 1 January 2026, a new permanent 40% first-year allowance is available for qualifying main-rate plant and machinery assets (excluding second-hand assets, cars, and overseas leasing). Simultaneously, from April 2026 the main rate writing-down allowance is reduced from 18% to 14% for Corporation Tax (from 1 April) and for Income Tax purposes from 6 April 2026, to encourage upfront investment while slowing depreciation relief over time. This helps businesses saving tax earlier but affects cash flow for those acquiring assets gradually or second-hand.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
고배당기업 주식 배당소득에 대한 고배당 분리과세 세제특례 도입
South Korea’s National Tax Service (NTS) has enacted a temporary tax incentive allowing dividends from high‐dividend domestic equities to be taxed separately (분리과세) at favorable rates even if the investor’s total financial income exceeds KRW 20 million. This regime applies to dividends paid in 2026-2029, with filings starting from the May 2027 comprehensive income tax return. It lowers tax burden for eligible high-dividend income.
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 Guidance on the Permanent Expansion of Paid Family and Medical Leave under the Working Families Tax Cuts
Notice 2026-28 guidance clarifies that beginning in 2026 employers may claim the permanent PFML credit under the WFTC for paid leave wages or premiums paid for PFML insurance; the credit rate ranges from 12.5 % to 25 % for up to 12 weeks of leave per year; state or local leave mandates count toward eligibility (for wages paid), but not toward credit calculation; employers must choose between wage-based and premium-based methods.
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
Determination of Housing Cost Amounts Eligible for Exclusion or Deduction for 2026
Notice 2026-25 establishes updated limits for 2026 under IRC § 911: foreign housing base amount at 16 % of the FEIE (≈ $21,264), housing expense cap at 30 % (≈ $39,870), and includes adjusted limits for high-cost geographic locations. These limits apply to qualified individuals claiming foreign housing exclusion or deduction.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
IRS Releases Inflation Adjustments for Tax Year 2026 under the One, Big, Beautiful Bill
IRS Publication of Revenue Procedure 2025-32 updates more than 60 tax provisions for TY 2026 filings (to be filed in 2027), including standard deductions, marginal rate brackets, FEIE, estate tax exclusion, AMT exemption, credit thresholds, fringe benefit limits, etc., as indexed under OBBB Act.
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
2026 annual inflation adjustments for more than 60 U.S. tax provisions announced by the IRS
The IRS issued Revenue Procedure 2025-32 setting out inflation-indexed adjustments for tax year 2026. Key changes include increases to the standard deduction (e.g., $32,200 for married filing jointly), foreign earned income exclusion rising to $132,900, and adjusted exemption amounts for AMT and estate taxes. These changes will affect returns filed in 2027.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source