Author: News Desk

A significant new tax bill in Sri Lanka targets economic recovery by offering full capital allowances for mid-sized investments starting in April 2026.

In a major victory for importers, a US appeals court has rejected the government’s attempt to delay the distribution of over $130 billion in illegal tariff refunds.

As the ECB prepares for aggressive rate hikes amid global instability, the resulting bond market volatility poses a direct threat to the EU’s tax harmonization agenda.

Brazilian planemaker Embraer beats estimates and sets bold 2026 targets while preparing for major domestic tax reforms and fluctuating global trade duties.

Following a Supreme Court ruling against broad trade duties, a federal judge is now meeting with parties to design a repayment system for $175 billion in illegal tariffs.

The European Parliament has officially frozen the ratification process for the Turnberry Deal. On Wednesday, lawmakers opted to postpone critical committee votes, signaling a sharp rebuke of recent shifts in American trade policy. The move effectively stalls what was once hailed as a landmark agreement for transatlantic commercial stability. The friction stems from a two-pronged shift in Washington. While the U.S. Supreme Court recently struck down broad tariffs under the International Emergency Economic Powers Act, the relief for European exporters was short-lived. The U.S. administration countered by implementing a 10 percent global import surcharge under Section 122 of the 1974…

Prime Minister Mette Frederiksen is centering her snap election campaign on a bold return to a fiscal policy abandoned nearly three decades ago. In a strategic move to shore up support for her Social Democrats, Frederiksen has proposed a 1 percent annual wealth tax targeting Denmark’s most affluent residents. The proposal aims to generate approximately 6 billion kroner ($1 billion) annually, with the revenue earmarked for the reinforcement of national education and welfare programs. The tax would specifically apply to the wealthiest 1 percent of the population. This group, consisting of fewer than 60,000 individuals, currently controls roughly a quarter…

A high-stakes fiscal confrontation is brewing in Washington as Congressional Democrats and a coalition of influential governors demand the immediate return of billions in trade duties. Following a Supreme Court ruling that invalidated specific broad-based tariffs, Democratic leadership has introduced the Tariff Refund Act, a move designed to force the hand of U.S. Customs and Border Protection. The legislative push is backed by heavyweights including Governors Kathy Hochul of New York, JB Pritzker of Illinois, and Gavin Newsom of California. Their argument hinges on recent economic data suggesting the invalidated tariffs cost the average American household roughly $1,700 in passed-on…

In a significant legislative move during the ongoing Winter Session, Finance Minister Nirmala Sitharaman introduced the Health Security Cess Bill, 2025 in the Rajya Sabha today. The Bill proposes a 0.5% cess on taxable services to fund a dedicated corpus for pandemic preparedness and public health infrastructure modernization. The introduction of the Cess comes as the government seeks to ringfence funding for the “Ayushman Bharat” digital expansion without widening the fiscal deficit. Opposition leaders have raised concerns about the inflationary impact of an additional levy, but the Finance Ministry argues the ringfenced nature of the fund ensures direct taxpayer benefit.…

Brazil’s historic tax reform is facing a turbulent rollout as taxpayers struggle with the transition to the new Dual VAT system. With the testing phase for the Imposto sobre Bens e Serviços (IBS) and Contribuição sobre Bens e Serviços (CBS) set to begin in 2026, a fierce debate has erupted over the “calculation base” for the transition period. Legal experts and corporate tax directors are seeking urgent clarification from the Federal Revenue of Brazil (RFB) on whether the new levies must be included in the calculation base of the legacy ICMS and ISS taxes. If confirmed, this “tax-on-tax” scenario could…