Tax News and Policy Updates
Italy plans changes to exit tax proposal amid wealth sector backlash
Italy is revising a proposed tax on wealthy individuals who move their tax residence abroad after the measure drew criticism from tax experts and financial advisers. The planned levy is part of ...
China tax clampdown draws $24 billion from offshore trusts
China is widening its effort to tax wealth held beyond its borders, prompting the country’s ultra-rich to declare more than 160 billion yuan in back taxes linked to offshore trusts. The ...
South Korea wants to delay crypto tax until 2029
The South Korean government has backed another postponement of the tax on cryptocurrency gains. If parliament approves the proposal, the new rules will take effect in 2029 instead of the ...
EU tax-to-GDP ratio rises in 2025 as revenue from taxes and social contributions increases
Tax revenues and net social contributions take a larger share of economic output across the EU and the euro area in 2025. The increase lifts the EU ratio to 40.7% and the euro area ratio to 41.3%, ...
Switzerland wealth tax model fuels U.S. debate over billionaire levies
Switzerland combines a long-running wealth tax with a strong record of attracting affluent residents and preserving its status as one of the world's richest countries. The comparison is drawing ...
Latvia plans crypto tax payments as parliament revamps digital asset taxation
Latvia is moving to deepen its crypto-friendly policy framework by preparing to let residents pay personal taxes with digital assets as early as 2027. The initiative comes alongside a new tax ...
Canada highlights business tax deduction push in Newfoundland and Labrador
Canada is promoting a new tax measure aimed at lowering investment costs for businesses as major industrial projects advance in Newfoundland and Labrador. The federal initiative expands immediate ...
Pakistan tax authority extends return filing deadline to October 15
Pakistan's tax administration is giving filers more time to complete income tax submissions for tax year 2026 after the original September 30 cutoff. The two-week extension comes as business ...
Netherlands plans capital gains tax overhaul to drop levy on unrealised investment profits
The Netherlands is reshaping its wealth tax plans after political and investor resistance to a proposed annual charge on paper gains. The government now wants to introduce a levy from 2028 that ...
