Legislative bills
Nigeria's President Bola Ahmed Tinubu has highlighted the significance of signing tax reform bills into law, as the country seeks to overhaul its tax system and facilitate economic growth. The four bills, which have undergone intense scrutiny and have been opposed by some lawmakers, were transmitted to the
Legislative bills
Angela Rayner, Deputy Prime Minister, said she was "proud" of Labour's record in Government despite Tory criticism of proposed welfare reforms. The Labour MPs publicly backed a move to block the reforms, with 120 MPs questioning the party's stance. However, Shadow Chancellor Sir Mel
Public finance
As Pakistan's economic stability hangs in the balance, the country is racing against time to meet the conditions of its $7 billion IMF Extended Fund Facility. The success of these reforms, which include tax-base expansion, GST harmonization, SOE restructuring, and public spending discipline, will determine Pakistan's
Public finance
The 2025 Ontario budget, unveiled on May 15, 2025, under the theme "A Plan to Protect Ontario," focuses on cost reduction, strategic investment, and economic resilience in the face of global trade uncertainty. While it does not introduce new taxes or incentives, the budget provides essential information for
Legislative bills
U.S. Senators Catherine Cortez Masto (D-Nev.), John Fetterman (D-Pa.), John Cornyn (R-Texas), and Joni Ernst (R-Iowa) introduced the Survivors Assistance for Fear-free and Easy (SAFE) Tax Filing Act to make it easier for survivors of spousal abuse or abandonment to file their taxes. The bill would allow survivors to
Public finance
The Pakistan government has introduced significant income tax cuts in the Budget 2025-26, offering relief to middle-income salaried individuals. Starting July 2025, those earning Rs150,000 per month (Rs18 lac annually) will pay an income tax of Rs72,000, which breaks down to Rs6,000 per month. This updated structure
Public finance
The Centre for Policy Dialogue (CPD) has expressed concerns that the proposed income tax changes in the national budget will disproportionately affect low- and middle-income earners in Bangladesh over the next two fiscal years. CPD Executive Director Dr. Fahmida Khatun stated that the planned tax adjustments compromise the principle of
Legislative bills
The National Assembly of Bhutan unanimously passed the Income Tax Bill 2025 on 17 June, introducing major reforms aimed at modernizing the country's tax system. The new bill replaces the existing Income Tax Act of 2001 and seeks to create a more efficient and progressive taxation structure by
Legislative bills
U.S. Senators Tim Scott (R-S.C.) and Angela Alsobrooks (D-Md.) have introduced the Small Business Tax Fairness and Compliance Simplification Act, a bipartisan legislation aimed at simplifying tax compliance for small beauty businesses, including hair stylists, barbers, and nail technicians. The bill would allow these businesses to qualify for
Budgets
Uganda's Finance Minister Matia Kasaija has announced a revised budget for the financial year 2025/2026, with a focus on plugging revenue leaks and boosting domestic revenue collections. The government has allocated $20.1 billion to finance various sectors, with the Uganda Revenue Authority (URA) tasked with raising
Budgets
Islamabad lawmakers in the Upper House strongly condemned Israel's recent aggression against Iran and expressed grave concerns over Pakistan's fiscal policies, particularly the imposition of taxes on essential sectors and the economic hardships facing ordinary citizens. Senator Dost Ali Jeesor praised Pakistan's principled stance
Legislative bills
The One Big Beautiful Bill Act, a budget reconciliation bill, has passed the US House of Representatives and is under Senate consideration. The bill, if enacted, would make significant changes to US income tax law, including the addition of a new section 899 to the Internal Revenue Code. Section 899
