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Budget: fiasco of the high-income tax
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The differential contribution on high incomes, created in 2025, brought in only 400 million euros, nearly five times less than expected, according to the Ministry of Economy and Finance. This tax, aimed at ensuring a minimum 20% taxation for the wealthiest, was largely circumvented by targeted taxpayers. It highlights the challenges in effectively taxing very high incomes in France.
Rasha Abdel Aal, head of the Egyptian Tax Authority, announced a second package of 26 tax facilitation measures focused on supporting compliant taxpayers through faster VAT refunds and simplified procedures. She spoke at a conference with the Austrian Chamber of Commerce, emphasizing partnerships with civil society. The package aims to boost voluntary compliance and build trust.
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The Union Budget 2026 has modified the tax exemptions available on Sovereign Gold Bonds (SGBs). Previously, individual investors were exempt from capital gains tax if they held the bonds until maturity. Now, this benefit is restricted to specific situations.
Amid economic growth and regional agreements, experts argue that the Philippine travel tax is an anachronistic burden that should be phased out. Rooted in history from the 1950s, this levy no longer fits the current era. Its revenues are not effectively used for tourism, sparking frustration among Filipinos.
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The National Association of Electricity Generators (Andeg) warned that Decree 0044 of 2026 from the Ministry of Finance jeopardizes the financial stability of the energy sector by imposing a 2.5% parafiscal contribution and a 12% energy contribution. The guild, led by Alejandro Castañeda, labels the measure as confiscatory and legally flawed, requesting review by the Constitutional Court. The decree aims to fund interventions in companies like Air-e, which has been under intervention for over 17 months.
Ethiopia's tax authorities introduced QR code receipts to modernize administration and curb evasion, aiming for greater transparency and digital issuance of documents. However, the rollout has created severe bottlenecks, paralyzing business operations and eroding trust in the system. Traders are rushing to printing enterprises in Addis Ababa to comply.
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In a follow-up to earlier announcements on Egypt's second tax facilitations package, Rasha Abdel Aal, head of the Egyptian Tax Authority, launched a new consultation platform at an American Chamber of Commerce conference, enabling businesses to provide input on tax policies during ongoing societal dialogues.
Explaining tax deductions, reliefs and how to claim KRA refunds
January 31, 2026 16:26Egyptian tax authority reviews tax system evolution and investment role
January 31, 2026 11:02KRA waives import duty, excise duty, VAT and IDF taxes for Kenyans returning home
January 31, 2026 10:07Japanese PM leans toward zero consumption tax on food
January 29, 2026 14:19BIR raises de minimis benefits limits starting January 2026
January 22, 2026 22:42Businesses wait as tax rulings lag in Addis Abeba
January 22, 2026 17:23BIR clarifies rules on deductible expenses
January 22, 2026 07:51Rexecode report details harmful effects of wealth tax
January 21, 2026 16:04Egyptian tax authority launches app for electronic real estate tax payments
January 21, 2026 12:23S&P warns Takaichi's food tax cut plan may worsen Japan's finances