Tax Reform

Hong Kong has gazetted a tax reform bill exempting private equity and venture capital funds from tax on performance-linked income. The bill is scheduled for lawmakers to read on June 24 and aims to attract talent to strengthen the city's role as a wealth hub.

14 मई 2026 AI द्वारा रिपोर्ट किया गया

The Chamber of Deputies' Finance Committee approved the core tax measures of the megareform promoted by President José Antonio Kast's government in the early hours of Thursday.

Following reports of potential delays and industry criticism, Japan will implement cryptocurrency tax reforms in 2028, reducing the rate to a flat 20% on gains treated like equity investments. The changes aim to boost predictability, retain domestic capital, and curb outflows to hubs like Singapore and Dubai.

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A leading Japanese financial executive has criticized the slow progress on cryptocurrency tax reforms, warning of a possible one-year delay. Traders, currently facing up to 55% taxes on profits, had anticipated changes starting in January 2027. The delay could hinder Japan's web3 development compared to global peers.

Brazilian states and municipalities disagree with the tax reform's simplification premises and plan to resume 'tax on tax' charges during the transition period. This could spark national litigation, undermining the reform's goal of reducing judicial disputes. The country already leads the world in tax litigation.

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President Gustavo Petro's government presented an adjusted tax reform, cutting its revenue target from $26 billion to $16 billion after congressional agreements. Controversial taxes like VAT on fuels and bills were removed, but levies on alcohol, tobacco, and online gambling remain. The proposal aims to fund the 2026 National Budget, though it faces political opposition.