US: Trump administration escalates tariff threat on Canadian automotive sector 

NamRA has reiterated that taxpayers and traders must generally retain business records and supporting documents for five years, subject to limited exceptions for recent filings and criminal investigations.

Singapore’s MAS has introduced measures including a proposed tax exemption for qualifying fund management returns, a new hedge fund investment programme and an investment management track under the ONE Pass framework to attract global asset management talent and firms.

Finland’s Ministry of Finance has proposed amendments to the Tax Procedure Act to expand mandatory electronic reporting, simplify withholding procedures and strengthen tax administration and penalties, with most changes planned from 1 January 2028.

VMI has updated guidance on foreign tax credits, clarifying eligibility conditions, deduction limits and documentation requirements under Article 55 of the Law on corporate income tax.

Colombia’s Law No. 2615 introduces VAT exemptions and an increased 165% deduction for contributions to the Special Account Fund for the Music Sector, alongside measures supporting independent artists and the wider music industry.  

The UAE Federal Tax Authority’s Decision No. 4 of 2026 sets requirements for maintaining complete, legible and accessible accounting records and commercial books, including rules for Electronic Copy and Photocopy formats and third-party record maintenance.