Turkey sets real estate tax construction costs for 2026
Turkey has set standard construction costs to calculate real estate tax for 2026. Turkey has published General Communiqué No. 87 on Real Estate Tax Law in the Official Gazette on 9 August 2025, setting standard construction costs per square
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Turkey issues draft on R&D tax exemptions
Turkey has clarified the new rules for income tax on R&D wage exemptions and related incentives. Turkey released a draft Communiqué on Income Tax on 20 August 2025, clarifying amendments under Law No. 7555 to the Technology Development
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Pakistan issues income tax return notifications for 2025
FBR issues electronic income tax return forms for the 2025 tax year with filing deadlines set for individuals and companies. Pakistan’s Federal Board of Revenue (FBR) on 18 August 2025 issued Notification (Income Tax) S.R.O. 1561(I)/2025 and
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OECD endorses Brazil’s additional CSLL under Pillar Two as a QDMTT
The OECD has recognised Brazil’s additional social contribution on net profits (CSLL) as a qualified domestic minimum top-up tax (QDMTT) meeting the safe harbour criteria. The OECD officially recognised Brazil’s additional social
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Turkey: Government consults scope, application of the reduced corporate tax regime
Turkey has initiated a public consultation on the scope and application of the reduced corporate income tax regime for investments made under an investment incentive certificate issued by the Ministry of Industry and Technology. Turkey’s
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Slovak Republic plans digital services tax
The DST aims to generate EUR 30–100 million in revenue by taxing large multinational digital platforms and cloud services operating in the country, including Meta, Google, TikTok, Amazon, Netflix, and Microsoft. Slovak Republic’s State
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Pakistan: FBR introduces withholding tax on domestic digital sales
The FBR introduced a 1–2% withholding tax on domestic digital sales via online marketplaces. Pakistan’s Federal Board of Revenue (FBR) issued Notification (Sales Tax) S.R.O. 1429(I)/2025 on 4 August 2025, establishing a new Chapter XIV-E in
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Chile: SII issues circular on overdue tax fines for September 2025
Chile’s SII issued Circular No. 52-2025 on 14 August 2025, setting September 2025 tax readjustments, fines, and a 0.0222222222% daily late payment interest rate. The Chile’s Internal Revenue Service (SII) has issued Circular No. 52-2025 on
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UAE: FTA urges corporate taxpayers to file returns, pay within the specified deadlines
UAE’s Federal Tax Authority has urged corporate tax taxpayers to finalise records, file returns, and pay tax due by the deadlines, stressing compliance, early preparation, and use of the EmaraTax platform to avoid penalties. The Federal Tax
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Uruguay clarifies tax deductibility of directors’ fees
The tax administration confirms directors’ fees are fully deductible for corporate income tax, including amounts exempt from social security contributions. Uruguay’s Tax Administration (DGI) issued a clarification on 31 July 2025 confirming
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Poland: MoF considers windfall profit tax on banking sector
Poland’s Finance and Economy Minister plans to introduce a windfall profits tax on banks, citing high profits driven by elevated interest rates from the National Bank of Poland. Poland’s Minister of Finance and Economy has announced plans to
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Ireland: Irish Revenue updates Pillar Two guidance
The updated guidance outlines Pillar Two registration, filing, and top-up tax requirements for MNEs. Irish Revenue published updated guidance on Pillar Two requirements on 14 August 2025, covering an overview of Pillar Two, registration
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Australia: ATO issues final compliance guideline on restructures and updated thin capitalisation rules
This guideline outlines ATO’s practical compliance approach for restructures undertaken in response to the new thin capitalisation and debt deduction creation rules (DDCR). The Australian Taxation Office (ATO) has published the final
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Sweden: Ministry of Finance proposes amendments to global minimum tax rules
The draft legislation aligns Sweden’s Top-up Tax Act with new OECD guidance and EU rules on global minimum taxation. Sweden’s Ministry of Finance published draft legislation on 14 August 2025 to amend Act (2023:875) on top-up tax for
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Dominican Republic: DGII extends 2024 FATCA reporting deadline
This extension is intended to ensure full adherence to the Intergovernmental Agreement (IGA) signed between the US and the Dominican Republic in September 2016, which governs FATCA implementation in the country. The Dominican Republic tax
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Hong Kong: IRD revises eligible debt instruments list for profits tax relief
The QDIs listed are mainly composed of debt instruments issued by governments and financial institutions within the Asia-Pacific region, along with a limited number from other issuers. The Hong Kong Inland Revenue Department (IRD) has released
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South Africa to tax dividends on certain hedging instruments from 2026
South Africa proposes taxing dividends on certain hedging instruments from 2026 to align tax with IFRS accounting. The South African government has proposed amending section 24JB of the Income Tax Act to tax dividends received on equity
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India introduces Pillar Two disclosure requirements under national accounting standard
India has amended Ind AS 12 to align with International Accounting Standard 12 and introduce new disclosure requirements for the OECD’s Pillar Two global minimum tax. India’s Ministry of Corporate Affairs has issued the Companies (Indian
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