Japan Approves Tax Reforms to Fund Defense Spending, Raising Concerns About Fiscal Health
Japan's ruling parties approved tax reforms to fund a 43 trillion yen defense budget increase starting in 2026, raising corporate and tobacco taxes while also increasing income thresholds for young adults, despite concerns about reduced government revenue.
Japan Approves Tax Reforms to Fund Defense Spending, Raising Concerns About Fiscal Health
Japan's ruling parties approved tax reforms to fund a 43 trillion yen defense budget increase starting in 2026, raising corporate and tobacco taxes while also increasing income thresholds for young adults, despite concerns about reduced government revenue.
Progress
32% Bias Score
Brazil's Chamber of Deputies Approves Consumption Tax Reform Bill
The Brazilian Chamber of Deputies approved a bill regulating consumption tax reform, rejecting Senate amendments that included tax benefits for various goods and services, leading to a potential final tax rate of 27.84%.
Brazil's Chamber of Deputies Approves Consumption Tax Reform Bill
The Brazilian Chamber of Deputies approved a bill regulating consumption tax reform, rejecting Senate amendments that included tax benefits for various goods and services, leading to a potential final tax rate of 27.84%.
Progress
36% Bias Score
Colombian Government Loses Congressional Majority, Jeopardizing Key Reforms
President Gustavo Petro's government lost its majority in Colombia's lower house of Congress, leading to the failure of the tax reform and jeopardizing the health reform bill, forcing the government to call for extraordinary sessions to ensure its passage.
Colombian Government Loses Congressional Majority, Jeopardizing Key Reforms
President Gustavo Petro's government lost its majority in Colombia's lower house of Congress, leading to the failure of the tax reform and jeopardizing the health reform bill, forcing the government to call for extraordinary sessions to ensure its passage.
Progress
36% Bias Score
Trump Tax Cuts Expiration Looms: Potential for Major Tax Increases in 2026
The 2017 Tax Cuts and Jobs Act provisions, including individual tax brackets and standard deductions, are set to expire in 2025, potentially resulting in tax increases for over 60% of taxpayers in 2026 unless Congress extends them, creating a significant political and economic challenge for the inco...
Trump Tax Cuts Expiration Looms: Potential for Major Tax Increases in 2026
The 2017 Tax Cuts and Jobs Act provisions, including individual tax brackets and standard deductions, are set to expire in 2025, potentially resulting in tax increases for over 60% of taxpayers in 2026 unless Congress extends them, creating a significant political and economic challenge for the inco...
Progress
40% Bias Score
Japan to Raise Tax Deduction Cap for Dependents to $9,900
Japan's ruling parties will raise the income cap for tax deductions on dependents aged 19-22 to \$9,900 from \$6,800, potentially starting next year, as part of a deal with the opposition to pass a \$277 billion supplementary budget. This addresses concerns that the previous cap discouraged part-tim...
Japan to Raise Tax Deduction Cap for Dependents to $9,900
Japan's ruling parties will raise the income cap for tax deductions on dependents aged 19-22 to \$9,900 from \$6,800, potentially starting next year, as part of a deal with the opposition to pass a \$277 billion supplementary budget. This addresses concerns that the previous cap discouraged part-tim...
Progress
36% Bias Score
Colombia's Fiscal Crisis: Low Revenue, Underfunded Budget Spark Default Fears
Colombia's government faces a critical fiscal challenge due to low tax revenue in 2024, an underfunded 2025 budget, and slow execution of current funds, sparking a political debate about a proposed tax reform and raising the risk of a potential default.
Colombia's Fiscal Crisis: Low Revenue, Underfunded Budget Spark Default Fears
Colombia's government faces a critical fiscal challenge due to low tax revenue in 2024, an underfunded 2025 budget, and slow execution of current funds, sparking a political debate about a proposed tax reform and raising the risk of a potential default.
Progress
40% Bias Score
Germany's Economic Relief Package: Limited Impact Despite Tax Cuts and Child Benefit Increase
Germany's new economic relief package, effective January 2024, includes a €5 increase in child benefit to €255, tax bracket adjustments to counter cold progression, and increased child tax allowance. Despite this, the Institute of German Economy predicts many households will still have less net inco...
Germany's Economic Relief Package: Limited Impact Despite Tax Cuts and Child Benefit Increase
Germany's new economic relief package, effective January 2024, includes a €5 increase in child benefit to €255, tax bracket adjustments to counter cold progression, and increased child tax allowance. Despite this, the Institute of German Economy predicts many households will still have less net inco...
Progress
36% Bias Score
Canada's Fall Economic Update: Key Measures and Uncertainty
The Canadian government announced a fall economic update including measures such as eliminating the mortgage stress test for some borrowers, expanding carbon pricing rebates, introducing automatic tax filing, and exempting the federal disability benefit from tax; however, the planned $250 payments w...
Canada's Fall Economic Update: Key Measures and Uncertainty
The Canadian government announced a fall economic update including measures such as eliminating the mortgage stress test for some borrowers, expanding carbon pricing rebates, introducing automatic tax filing, and exempting the federal disability benefit from tax; however, the planned $250 payments w...
Progress
36% Bias Score
Dutch Cabinet Postpones Box 3 Tax Reform Until 2028
The Dutch government delayed the implementation of its new box 3 tax system until 2028 due to criticism, opting for a temporary wealth tax increase on specific assets (stocks, real estate, crypto) to generate €2.5 billion, while exempting those with primarily savings.
Dutch Cabinet Postpones Box 3 Tax Reform Until 2028
The Dutch government delayed the implementation of its new box 3 tax system until 2028 due to criticism, opting for a temporary wealth tax increase on specific assets (stocks, real estate, crypto) to generate €2.5 billion, while exempting those with primarily savings.
Progress
44% Bias Score
Brazilian Senate Approves Consumption Tax Reform Bill
The Brazilian Senate approved a consumption tax reform bill creating a single Value Added Tax (IVA) with exceptions for essential goods and services, subject to further analysis by the Chamber of Deputies before presidential sanction; the final tax rate is expected to not exceed 28.48%, with a 26.5%...
Brazilian Senate Approves Consumption Tax Reform Bill
The Brazilian Senate approved a consumption tax reform bill creating a single Value Added Tax (IVA) with exceptions for essential goods and services, subject to further analysis by the Chamber of Deputies before presidential sanction; the final tax rate is expected to not exceed 28.48%, with a 26.5%...
Progress
36% Bias Score
"Hessian Municipalities to Raise Property Taxes in 2025 Due to Funding Shortfalls."
"Due to underfunding from the federal and state governments for increased responsibilities, many Hessian municipalities will increase property taxes in 2025 to balance their budgets; the first installment is due February 15, 2025."
"Hessian Municipalities to Raise Property Taxes in 2025 Due to Funding Shortfalls."
"Due to underfunding from the federal and state governments for increased responsibilities, many Hessian municipalities will increase property taxes in 2025 to balance their budgets; the first installment is due February 15, 2025."
Progress
36% Bias Score
Louisiana Implements Sweeping Tax Reform: $1.3 Billion in Cuts, Sales Tax Hike
Louisiana Governor Jeff Landry signed a bipartisan tax reform package into law, cutting income and corporate taxes while raising the state sales tax to fund the changes and redirecting $280 million from infrastructure projects. The plan will provide $1.3 billion in income tax cuts but has drawn crit...
Louisiana Implements Sweeping Tax Reform: $1.3 Billion in Cuts, Sales Tax Hike
Louisiana Governor Jeff Landry signed a bipartisan tax reform package into law, cutting income and corporate taxes while raising the state sales tax to fund the changes and redirecting $280 million from infrastructure projects. The plan will provide $1.3 billion in income tax cuts but has drawn crit...
Progress
56% Bias Score