Tax law
The Republic Act 12214, also known as the Capital Markets Efficiency Promotion Act (CMEPA), implemented significant changes to the taxation of capital markets and products on July 1, 2025. The new law simplified and made taxation more efficient, fair, and competitive. The changes affected the taxation of passive income, including
Tax law
The UK government is committed to a fair and equitable tax system that supports strong public finances and aligns with its broader policy objectives. In its recent written answer, the UK Parliament has highlighted the need to review current tax policies, particularly those affecting income from employment and non-employment sources.
Tax law
The UK Government has implemented new regulations to the Value Added Tax Act 1996 and the Value Added Tax Regulations 1996, amending late payment penalties and extending the deadline for submitting a final VAT return. These changes aim to align VAT rules with those in the United Kingdom and provide
Tax law
The U.S. Senate passed its version of the federal budget reconciliation package, dubbed the "One Big Beautiful Bill", with a 51-50 vote, including a groundbreaking federal education choice expansion, the Educational Choice for Children Act (ECCA). ECCA aims to provide a 100% federal income tax credit of
Tax law
The ongoing trade war between the US and other countries has escalated into a new arena: taxes. In a compromise reached with the G7 and the OECD, the US has secured exemptions for its companies from two rules on tax avoidance, in exchange for dropping a provision that would have
Tax law
Nigeria's new tax reforms have been met with widespread skepticism, particularly from the working class, who bear the brunt of indirect taxation and feel that they benefit little from the generated revenue. The reforms aim to widen the tax net, improve revenue generation, and reduce the nation'
Tax law
Northwestern Mutual, a leading financial services company, is enhancing its suite of insurance products with the introduction of the Survivorship Variable Universal Life Plus (SVUL Plus) policy. This innovative solution is designed to assist couples, families, and business owners in planning for their unique financial goals and minimizing the estate
Tax law
Wisconsin Gov. Tony Evers and Republicans who control the state Legislature have reached a deal on a new two-year budget that cuts income taxes, increases funding for the University of Wisconsin, raises fees to pay for transportation projects, and stabilizes the state's child care system. The deal, announced
Tax law
As the implementation of the 12 percent value-added tax (VAT) on digital services by digital service providers (DSPs) in the Philippines takes effect, online service providers are facing new challenges in complying with the registration requirement. Republic Act 12023, which amended Section 108 of the Tax Code, has made it
Tax law
As part of Budget 2025, the government of Alberta has announced a new eight percent tax bracket, applicable to income up to $60,000, down from the previous rate of 10 percent. This tax cut is expected to bring significant relief to taxpayers, with individual savings of up to $750
Tax law
As part of the government's comprehensive strategy to reduce reliance on debt financing and strengthen domestic revenue mobilization, the Ghana Revenue Authority (GRA) has announced the implementation of several key policies aimed at boosting domestic revenue. From July 1, 2025, the GRA will introduce the Modified Taxation Scheme
Tax law
The Nigerian government has introduced new tax laws that exempt low-income earners from paying personal income tax. This move is part of President Bola Tinubu's efforts to promote economic inclusivity and equity. The reforms also include investment initiatives from Dangote Petroleum Refinery, aimed at reducing fuel distribution costs
