New Income Tax Bill to be introduced on August 11

Business Jul 31, 2025

A new Income Tax Bill is set to be introduced in Parliament on August 11.
The big idea? Make tax rules clearer and easier to understand—without messing with current tax rates or policies.
The goal is to give everyone a bit more certainty when it comes to filing taxes.

Highlights of the new bill

The new bill will shrink the law from 47 chapters down to 23, and cut the number of sections by over a third.
It'll also use more tables and formulas (think: fewer long paragraphs, more quick references), aiming to make life simpler for anyone dealing with taxes.
The government says they listened to nearly 21,000 suggestions from the public and experts before finalizing these changes.