Scope: Canada
Proposed
Budget 2025 proposes the Personal Support Workers Tax Credit
Introduces a **temporary refundable tax credit** for personal support workers in eligible health-care establishments, equal to **5 % of eligible earnings**, up to **$1,100/year**, for taxation years **2026-2030**. Eligible territories/provinces must not have bilateral wage-increase agreements covering PSWs. The aim is to recognize and support front-line workers. Tendered as part of Budget 2025 proposals via Notice of Ways and Means Motion. Implications include reduced tax burden, improved equity, and need for documentation.
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 Eligible Investments for Trump Accounts under the Working Families Tax Cuts
Under recent proposed regulations (IR-2026-96), during the growth period (from account establishment until the calendar year in which the child turns age 17), Trump Accounts may invest only in eligible investments: mutual funds or ETFs tracking primarily U.S. equity indices, no leverage, with annual fees ≤ 0.1%. After growth period, restrictions lift. These proposals apply to tax years beginning on or after January 1, 2026. Public comments requested by October 20, 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
New Inflation Adjustments for Tax Year 2026 under the One, Big, Beautiful Bill Act
As part of revenue procedure 2025-32, the IRS updated inflation adjustments for over 60 tax provisions for tax year 2026. Notable changes include increased standard deduction amounts, revised estate tax exemption, and boosted adoption credit limits. These adjustments 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
Scope: Japan
Status requires verification
グローバル・ミニマム課税に係る国際合意を踏まえた措置
Japan implements revisions to its global minimum tax (Pillar Two) system: introducing exemption criteria for foreign parent companies in countries with corporate tax rates ≥ 20%, modifying group minimum tax tails, and aligning local and national treatment for international minimum tax on multinationals. These reforms aim to fortify international tax fairness under the BEPS-inclusive framework.
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
Enforcement-enhancing tax compliance measures: expanded whistleblower rewards, AI/forensic systems, and integration of tax investigation teams
As part of its 2026 tax reform package (세제개편안), South Korea’s National Tax Service is expanding incentives and tools to catch tax evasion. Key elements include lowering the minimum collection threshold for whistleblower rewards from KRW 50 million to KRW 30 million, increasing reward rates from 5-20% to 10-30%, introducing additional transaction-trace systems for virtual asset trades, deploying AI-based forensic tools, and creating dedicated teams (‘체납추적-세무조사 연계 전담팀’) to jointly investigate major delinquent taxpayers and offshore tax evasion schemes. This aims to strengthen the detection and enforcement of hidden or undeclared assets among high net-worth and foreign-linked individuals and entities.
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
财政部 税务总局关于增值税法施行后增值税优惠政策衔接事项的公告
To ensure smooth transition following the implementation of the VAT Law from 2026-01-01, this announcement (公告2026年第10号) establishes: VAT thresholds (起征点) for small-scale taxpayers; maintains certain VAT exemptions and simplified tax rates for specified transactions; and clarifies VAT deductible input rules for small-scale and general taxpayers, among other adjustments effective through December 31, 2027.
Editorial impact label: Medium-High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: EU / EEA
Status requires verification
The European Commission publishes guidance for CBAM verifiers and accreditation bodies
Guidance provides clarity on requirements for verifiers and National Accreditation Bodies under the Carbon Border Adjustment Mechanism definitive period, including accreditation, registry access from 1 September 2026, verification report issuance, and responsibilities among verifiers, operators and NCAs.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Personal Support Workers Tax Credit Proposed in Budget 2025
Budget 2025 proposes a **temporary five-year refundable tax credit** for eligible personal support workers equal to **5 % of eligible earnings**, up to **$1,100 per year**, in provinces/territories without bilateral agreements increasing PSW wages. Applies for the 2026-2030 taxation years. ([budget.canada.ca](https://www.budget.canada.ca/2025/report-rapport/tm-mf-en.html?utm_source=openai))
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
Overseas Financial Account & Crypto Information Reporting Enhancements
For the 2026 tax year and onward, residents and domestic corporations with overseas financial accounts exceeding ₩500 million must report all foreign financial assets including crypto. Penalties for misreporting rise when unreported amounts exceed ₩50 billion. The Crypto Asset Reporting Framework (CARF) will begin operation in 2027 to allow automatic exchange of crypto-transaction data with treaty partners. Voluntary corrections may reduce penalties by 30-90 %.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 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（要旨）：極めて高い水準の所得に対する特定基準所得金額の引き下げと税率引き上げ
For the very high-income individuals, the threshold for the "特定の基準所得金額" special tax was lowered from ¥330,000,000 to ¥165,000,000, and the tax rate on income above that threshold was increased from **22.5%** to **30%**. This affects top-earners, making their additional tax burden more significant.
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
Internal Revenue Bulletin: Notice 2025-65 – Indexing factors for QPA for health plans for services provided in 2026
Notice 2025-65 in IRB 2025-47 provides updated **indexing factors** that group health plans and insurers must use to calculate the **Qualifying Payment Amount (QPA)** for services and items provided between January 1, 2026 and December 31, 2026. This affects how self-insured and individual health plans calculate allowable amounts under new transparency rules.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Temporary Personal Support Workers Tax Credit announced in Budget 2025
Budget 2025 proposes a refundable tax credit for eligible personal support workers, equal to **5% of eligible income up to $1,100/year**, available in provinces and territories not covered by a bilateral wage agreement. This is a temporary measure spanning the 2026-2030 taxation years. Its aim is to provide relief to care workers and recognize their service in communities.([canada.ca](https://www.canada.ca/en/innovation-science-economic-development/news/2025/11/minister-valdez-highlights-budget-2025-investment-in-personal-support-workers-and-skilled-professionals.html?utm_source=openai))
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Temporary Personal Support Workers Tax Credit
Budget 2025 proposes a refundable tax credit for eligible personal support workers: 5% of eligible earnings, up to $1,100/year, available in provinces/territories without bilateral wage-support agreements. Applies for taxation years 2026-2030. Must be employed in eligible health care establishments. Certification by employer required.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: Canada
Proposed
Personal Support Workers Tax Credit
Budget 2025 proposes a temporary refundable tax credit for personal support workers (PSWs). For provinces and territories not covered by bilateral wage-increase agreements, eligible PSWs can claim **5% of their eligible income**, up to **$1,100 per year**, across taxation years **2026-2030**, aiming to recognize and support vital caregiving work. There is also a proposed Foreign Credential Recognition Action Fund totalling $97 million over five years (starting 2026-27) to help internationally trained professionals obtain fair and timely recognition. Implications include additional income for PSWs, changes in tax filings, and opportunities for skilled newcomers. This measure is **proposed** but expected to pass into law with Budget 2025 under Bill C-4. Its impact is **Medium-High**, benefiting PSWs and internationally trained workers.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source
Scope: ASEAN
Status requires verification
CIT Rebate & Cash Grant Enhanced for YA 2026
As part of Budget 2026, IRAS increased the Corporate Income Tax (CIT) Rebate for the Year of Assessment 2026 to **50%** of the corporate tax payable, with a maximum benefit of **SGD 40,000** including a Cash Grant of **SGD 2,000** for companies satisfying the local employee condition. Applies to tax assessments for YA 2026. Enacted and effective as Budget 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
Status requires verification
Relief from penalty for failure to deposit remittance excise tax under the One, Big, Beautiful Bill
Notice 2025-55 provides limited penalty relief for remittance transfer providers for the first three calendar quarters of 2026, allowing providers to avoid certain failure-to-deposit penalties if deposits are timely (even if miscalculated) and underpayments are paid by the Form 720 deadline.
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
Notice 2025-55: Penalty Relief for Failure to Deposit Remittance Excise Tax
Notice 2025-55 provides relief from the failure-to-deposit penalty under IRC § 6656 for remittance transfer providers for the first three calendar quarters of 2026, with respect to the new remittance transfer tax imposed under section 4475 via the One, Big, Beautiful Bill. Providers who make timely deposits—even if computed incorrectly—and pay any underpayments by the Form 720 due date will avoid penalties.
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
CRA announces 2026 TFSA dollar limit at $7,000
The Canada Revenue Agency has confirmed that the **Tax-Free Savings Account (TFSA)** contribution limit for 2026 is **$7,000**, as part of its recent update to “What’s new” for savings and pension plan administration.
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
Revenue Procedure 2025-26: Indexing adjustments for applicable dollar amounts under §4980H for 2026
IRS issued Revenue Procedure 2025-26 to increase the dollar amounts used under IRC §4980H(c)(1) and (b)(1) (employer shared responsibility payments) for benefit and taxable plan years beginning after December 31, 2025. Implications are higher thresholds for penalties for employers who do not offer affordable minimum health coverage.
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
Tax Policy Reforms 2026: OECD and Selected Partner Economies
The September 2026 OECD report summarises recent reforms: Turkey’s DST rate reduction, Mauritius’ VAT registration for foreign digital service suppliers, widespread introduction of VAT on low-value imports, mandatory e-invoicing in EU jurisdictions and elsewhere. These reforms significantly affect cross-border digital trade and VAT compliance globally.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2026
- Verification
- Not recorded
Open cited source