Legislative bills
As Brazil debates its income tax reform bill, a provisional presidential decree may have a significant impact on how the effective minimum tax is calculated for high-income individuals. The decree ends the income tax exemption on incentivized bonds, such as real estate and agribusiness credit bills and certificates, which will
Budgets
Low-income families may receive a cash boost in the upcoming Budget, with Taoiseach Micheal Martin stating that "nothing is off the table" in terms of potential measures to address child poverty. The government has identified two key areas of focus: improving disability services and tackling child poverty. However,
Legislative bills
The Senate has passed all four of President Bola Ahmed Tinubu's proposed tax reform bills, marking a significant milestone in the legislative process. The bills, which aim to overhaul the nation's tax system, have undergone revisions in the Senate, with some changes differing from those made
Public finance
The Pakistan Stock Exchange (PSX) closed the week with a modest gain of 0.4% on a week-on-week (WoW) basis, with the benchmark KSE-100 index posting a noteworthy increase. Investor sentiment remained upbeat early in the week, driven by the federal budget for FY26, which left capital gains and dividend
Budgets
The Irish government is set to prioritize reducing VAT for the hospitality industry to 9% and increasing spending on housing in the 2026 budget, with "little to no" income tax cuts expected. In a move away from recent budget decisions, the government has decided to focus on supporting
Public finance
The Pakistan government has introduced a proposal to impose an 18% sales tax on online shopping as part of its fiscal year 2025-26 budget. Federal Finance Minister Muhammad Aurangzeb emphasized in his budget speech that the rapid growth of online businesses and digital marketplaces has created challenges for traditional businesses
Public finance
Finance Minister Muhammad Aurangzeb has presented a budget aimed at overhauling the tax system, boosting enforcement, and providing relief to low-income earners. The budget for fiscal year 2025-26 has a total outlay of Rs17.57 trillion, setting a 4.2% GDP growth target. The minister emphasized that the budget is
Budgets
The Karachi business community has given a divided response to the federal budget for the fiscal year 2025-26, with different business leaders expressing distinct views on the proposed measures. While some welcomed steps to curb taxpayer harassment and simplify income tax returns for small and medium-sized enterprises (SMEs) and salaried
Budgets
The International Monetary Fund (IMF) has called for strict compliance with its programme requirements, including the implementation of agriculture income tax and related services, to ensure effective collection starting from September 2025. The Fund has also expressed disagreement with the federal government's plan to sell surplus power at
Public finance
The new federal budget presented by Finance Minister Muhammad Aurangzeb aims to alleviate the income tax burden for middle- and high-income earners in Pakistan, with a focus on supporting salaried individuals. The budget also allocates a significant increase in defence expenditure, citing the recent conflict with India. Additionally, the government
Public finance
The government has proposed a four percent decrease in income tax across various slabs, aiming to alleviate the tax burden on salaried individuals. In the federal budget for the fiscal year 2025-26, Finance Minister Muhammad Aurangzeb emphasized the prime minister's commitment to lowering taxes on salaried individuals. The
Tax law
As tax season approaches, Americans may be relieved to know that the era of refund anticipation loans (RALs) and their high-cost sibling, refund anticipation checks (RACs), may be coming to a close. The National Consumer Law Center (NCLC) and the Consumer Federation of America (CFA) released a report, "End
