Turkey raises withholding tax refund limits for 2026
Turkeyβs Ministry of Treasury and Finance has increased the limits for cash refund claims related to withholding tax (WHT). For 2026, the maximum amount eligible for a cash refund without requiring inspection reports rises from TRY 340,000 to
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Poland sets 2026 thresholds for small-taxpayer regimes
Poland has announced the thresholds for several small-taxpayer regimes, including the reduced corporate tax rate, the simplified VAT scheme, the simplified flat-rate tax, and the investment incentive deduction for 2026. The new thresholds
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Vietnam: Government issues decree regulating new corporate income tax law
The Government of Vietnam has issued Decree No. 320/2025/ND-CP on 15 December 2025, regulating the implementation of the Law on Corporate Income Tax 2025 (Law No. 67/2025/QH15), which entered into force on 1 October 2025. The Decree relates to
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China extends tax exemptions for foreign bond investors through 2027
Chinaβs Ministry of Finance and the State Administration of Taxation made two announcements on 15 January 2026 that extend tax exemptions for foreign institutional investors in its bond market. Under Announcement No. 5 of 2026, the corporate
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Vietnam updates corporate income tax framework, updates capital transfer rules
The Vietnamese Government issued Decree No. 320/2025/ND-CP on 15 December 2025, setting out detailed rules for the implementation of the Law on Corporate Income Tax (CIT). The decree provides a comprehensive framework for determining taxpayers,
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Singapore gazettes Finance (Income Taxes) Act 2025, enacts global minimum tax standards
Singapore gazetted the Finance (Income Taxes) Act 2025 on 12 December 2025, enacting the Budget 2025 measures announced in February 2025. The Finance (Income Taxes) Act 2025, passed by the Parliament of Singapore in late 2025, introduces a range
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Latvia: Parliament revises capitalisation rules, introduces individual-owned company tax relief
Latvia has published Amendments to the Corporate Income Tax Law on 18 December 2025, which were approved on 3 December 2025, introducing new provisions affecting port authorities, taxpayers composed only of natural persons, and interest payments on
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Kenya: Tax tribunal rules pre-2025 losses unaffected by new carryforward limit
Kenyaβs Tax Appeals Tribunal delivered its decision in Patel v Commissioner for Legal Services & Board Co-ordination Services on 28 November 2025, which addresses how the loss carryforward restriction introduced under the Finance Act 2025
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Japan: MoF unveils FY 2026 tax reform proposals, covers income tax, investment incentives and digital economy measures
Japanβs Ministry of Finance (MoF) has released the highlights of the tax reform proposals for the fiscal year 2026. The key elements of the proposals are outlined below: οΌοΌοΌIncome tax reform to address rising pricesΒ Β Introduce
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Malaysia enacts key measures under 2026 budget
Malaysia gazetted the Finance Act 2025 and the Measures for the Collection, Administration and Enforcement of Tax Act 2025 on 31 December 2025. These laws give effect to selected measures announced in the 2026 Budget and additional tax
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Malawi: President assents to Value Added (Amendment) Act 2025, raises VAT rate as part of 25-26 budget
Malawiβs President has signed the Value Added (Amendment) Act 2025, raising the VAT rate from 16.5% to 17.5%. The Act received presidential assent on 20 December 2025 and was gazetted on 30 December 2025, entering into force the next day, 31
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Denmark publishes consolidated income tax assessment act
Denmark has gazetted the consolidated text of the Income Tax Assessment Act (Ligningsloven) on 5 December 2025. The updated Act sets out the rules for calculating taxable income and includes provisions on exemptions, deductions, and specialised
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China: STA extends high-cap tax deductions for advertising through 2027
Chinaβs Ministry of Finance and State Taxation Administration (STA) have announced the extension of preferential tax deduction rules for advertising and promotional (A&P) expenses on 22 December 2025 under the newly issued Announcement No. 16
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Montenegro: Government adopts multiple draft laws, approves BEPS MLI ratification
The Government of Montenegro adopted a series of draft laws, amendments, and international agreements on 11 December 2025 during a telephone session held without a formal meeting. The Governmentβs Public Relations Service made the announcement
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Tunisia gazettes 2026 Finance Law, includes presumptive tax regime for small businesses
Tunisia has published the Finance Law for 2026 (Law No. 2025-17) in the Official Gazette on 12 December 2025, setting out a wide-ranging package of tax and fiscal measures aimed at strengthening public finances while supporting targeted sectors of
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US: Florida updates rules on corporate income tax conformity, addbacks
The Florida Department of Revenue has released TIP 25C01-01 on 1 December 2025, providing explanation on how Floridaβs updated static conformity to the federal Internal Revenue Code, now effective from 1 January 2025, affects corporate income tax,
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Taiwan: Ministry of Finance clarifies business tax inclusive pricing
The TaiwanβsΒ Taipei National Taxation Bureau of the Ministry of Finance has stated that for goods or services subject to business tax, business operators must include the tax in their pricing and issue uniform invoices for business tax reporting
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US: New Jersey clarifies exclusion of OBBBA deductions
New Jerseyβs Division of Taxation has clarified that it will not adopt the new federal deductions introduced by the "One Big Beautiful Bill Act" (OBBBA) for Gross Income Tax (GIT) purposes.Β The state also clarified that the OBBBAβs changes to
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