Legislative bills
The Nigerian government is on the cusp of a significant transformation in its fiscal and revenue framework, as President Bola Tinubu prepares to sign into law four groundbreaking tax reform bills. The bills, which were passed by the National Assembly after extensive consultations with various stakeholders, aim to consolidate Nigeria&
Public finance
The National Assembly in Pakistan approved the Rs17.57 trillion federal budget for the fiscal year 2025-26, despite opposition calls for public consultation and tax reforms. Finance Minister Mohammad Aurangzeb presented the Finance Bill 2025, which included measures to combat sales tax fraud and introduced a carbon levy on petroleum
Legislative bills
The signing of the four tax reform bills by President Bola Ahmed Tinubu is expected to transform tax administration in Nigeria, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments. The bills, which include the Nigeria Tax Bill, the Nigeria Tax Administration Bill,
Public finance
A bipartisan report from the nonprofit organization Co-Equal reveals that four previous Republican-driven tax-cut packages have consistently fallen short of their promises. Since 1981, Republican administrations have pushed for aggressive tax-cutting agendas, claiming that the policies would stimulate growth, pay for themselves, and benefit all Americans. However, a comprehensive analysis
Legislative bills
Top-ranking Democrats in the New Jersey Senate have introduced tax proposals aimed at raising levies on cigarettes and the fluid used in vaping devices as part of Governor Phil Murphy's budget plan. The proposals, which were pitched as part of Murphy's budget plan, would increase the
Legislative bills
The legislation, which aims to loosen regulations on gun silencers and certain types of rifles and shotguns, has broad support among Republicans and has received little attention as lawmakers focus on other issues. The bill, which could be passed within weeks as President Trump wants, includes the removal of silencers
Public finance
Finance Minister Muhammad Aurangzeb introduced fresh tax measures in the National Assembly during the budget speech for FY2025-26, aiming to increase revenue and promote economic stability. The measures include a 29% tax on income from the debt portion of mutual funds for companies and a 20% tax on profits earned
Public finance
Federal Finance Minister Muhammad Aurangzeb outlined key economic policies and tax reforms during the National Assembly's debate on the 2025-26 federal budget. The minister's speech was met with protest from the opposition, who tore up copies of the agenda and clashed with government members. Despite the
Public finance
Pakistani Finance Minister Muhammad Aurangzeb announced significant revisions to the federal budget proposals for FY2025-26, amid public criticism and pressure from lawmakers. The revised proposals include a lowered income tax rate for the salaried class and a reduced General Sales Tax (GST) on imported solar panels. The move is aimed
Public finance
The Government of Pakistan has taken a constructive step towards a more balanced, inclusive, and forward-looking tax system by adopting several key recommendations from ICMA Pakistan in the Federal Budget 2025-26. The proposals, aimed at broadening the tax base, reducing the burden on salaried individuals, and tapping into emerging economic
Legislative bills
The Republic of the Philippines and the US will generate P25.06 billion in the next three years from a recently signed bill that will reform the outdated tax structure governing the mining sector and allow the country to access a a 20% of the national total up to 2024.
Legislative bills
The Philadelphia City Council has approved a $6.8 billion budget, with a mix of tax cuts and housing initiatives. The budget includes small tax cuts for individuals, but small businesses will face a significant increase in tax burden due to the elimination of a popular tax break. The city&
