Our Scans · (FS.6.04) Individual Tax Liabilities · Weekly Summary

• [New] California drew in 11% less in personal income tax revenue than it expected so far in 2022, the latest warning sign for the finances of a state whose fortunes are closely tied to the performance of markets. Accounting Today
• [New] The personal income tax exemption of 50% will be expanded to cover new Cyprus tax resident employees with salaried income of €55,000 or more. BDO in CYPRUS
• New Mexico will allow taxpayers to claim $500, or $1000 if they are joint filers, based on their Personal Income Tax return. MARCA
• The extension of personal tax relief for expenses relating to electric vehicle (EV) charging facility for another four years and extension of tax deduction for rental of EV for another two years will likely continue to boost the take-up of EV vehicles in Malaysia. PwC
• Income Tax Launch (2028): Oman's planned 5% personal income tax will diversify revenue, reducing reliance on hydrocarbons (currently 76% of government revenue). Ainvest
• Personal Income Tax will remain unchanged in 2023. / Latvia The Baltic Word
• The revenue from the higher GST helps balance the budget and finance higher outlays on defence, and also creates fiscal room for badly needed cuts in personal and corporate income taxes that will enhance Canada's tax competitiveness against the United States, and boost work, investment and growth. C.D. Howe Institute
• President-elect Trump's policy plans - featuring immigration controls, tariffs, and both personal and corporate tax cuts - are likely to push the Fed towards signalling a more cautious and measured path of easing through 2025. FOREX.com
• In light of rising cost-of-living concerns, Singapore will provide a personal income tax rebate of 50% for the Assessment Year 2024. Yahoo Finance
• As of January, women in Hungary who become mothers under the age of 30 will be exempt from paying personal income tax for the rest of their lives. BusinessInsider
• North Carolina's personal income tax rate is already scheduled to phase down to 3.99% by the end of 2026. Forbes
• No corporate tax will apply on personal income from employment, real estate and other investments, or on any other income earned by individuals that do not arise from a business or other form of commercial activity licensed or otherwise permitted to be undertaken in the UAE. Lovin Dubai

Last updated: 14 October 2025