KPMG Week in Tax—published weekly to provide an overview of tax developments as reported in TaxNewsFlash—includes summaries of select tax-related news followed by a full list of reports (more information can be found at the links provided).
- Canada: The 2025 federal budget maintains current individual and corporate tax rates but introduces immediate expensing for manufacturing buildings, expands scientific research and experimental development (SR&ED) and clean economy tax credits, and modernizes transfer pricing rules. The budget also streamlines savings plans, strengthens anti-avoidance measures, eliminates the underused housing tax, and repeals the luxury tax on certain aircraft and vessels. Read TaxNewsFlash
- Brazil: The Senate has approved a 10% withholding tax on dividends paid to foreign parties, effective for fiscal years starting January 1, 2026, with limited exemptions and a potential tax credit mechanism. This change increases costs for multinationals, introduces uncertainty around double taxation and cash flow, and raises questions about alignment with Brazil’s transfer pricing rules and treaty network. Read TaxNewsFlash
- United States: As part of a trade and economic agreement between the United States and China (read TradeNewsFlash):
- China committed to eliminate export controls, halt fentanyl precursor shipments, and suspend retaliatory tariffs and non-tariff measures.
- The United States will lower tariffs on Chinese imports and extend tariff suspensions and exclusions.