France passes 2026 budget, halves exceptional contribution to large company profits
France finally passed its 2026 budget on 2 February 2026 after two no-confidence motions failed, allowing Prime Minister Sebastien Lecornu’s minority government to survive and bringing a measure of political stability. The prolonged
See More
India: 2026 budget proposes relaxed tax rules for multinationals, reforms safe harbour regime
India's Minister of Finance, Nirmala Sitharaman, delivered the Union Budget for 2026-27 on 1 February 2026. The proposals aim to relax tax rules for multinational companies, which are expected to bring greater certainty to cross-border transactions.
See More
Belarus announces corporate tax reforms for 2026
The Belarus Ministry of Taxes and Duties has announced a wide-ranging package of tax measures affecting companies from 1 January 2026, reshaping corporate taxation, sector-specific rates, and compliance requirements. The changes span corporate
See More
Papua New Guinea enacts Income Tax Act 2025
Papua New Guinea’s new Income Tax Act 2025 came into effect on 1 January 2026. Issued on 20 October 2025, the new Income Tax Act modernises and simplifies the country’s tax framework, replacing the former regime under the Income Tax Act 1959.
See More
China introduces temporary CIT, VAT, IIT incentives for innovative enterprise CDRs
China’s Ministry of Finance, the State Taxation Administration and the China Securities Regulatory Commission have issued Announcement No. 8 of 2026 on 21 January 2026, setting out temporary tax incentives to support the pilot programme for the
See More
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
See More
Finland issues guidance on Pillar 2 effective tax rate, top-up tax calculations
Finland’s tax administration has published new guidance on 20 January 2026 on the minimum taxation of large groups under the Pillar 2 global minimum tax framework. The guidance provides detailed explanations on the calculation of the effective
See More
Argentina: ARCA updates 2026 corporate, individual income tax brackets
The Argentine tax authority, ARCA, has published the corporate and individual income tax brackets and rates for fiscal year 2026. The corporate brackets are effective from 1 January 2026, while the individual rates apply for January to June
See More
UK: Scotland presents 2026-27 budget, proposes new levies
Scotland’s Cabinet Secretary for Finance and Local Government presented the 2026-27 State Budget to the parliament on 13 January 2026. The Budget’s key proposals include higher personal income tax brackets and the introduction of new levies,
See More
Romania implements 2026 tax reforms: Limits deductions for IP, consulting fees
Romania has published Law No. 239/2025 and Emergency Ordinance No. 89/2025, which introduce a 1% cap on deductions for payments to non-resident related parties for intellectual property and management or consulting services. The limit applies to
See More
Brazil: RFB opens registration for special asset update regime, corporate asset revaluation subject to 4.8% tax
The Federal Revenue Service (RFB), has opened the Declaration of Option for the Special Asset Update Regime (Deap), allowing individuals and legal entities to update asset values acquired with legally sourced funds up to 31 December 2024, with
See More
Argentina: Congress approves 2026 budget, introduces no new taxes
Argentina’s Congress approved the 2026 budget bill on 26 December 2025, marking the first budget passed since President Javier Milei took office in late 2023. The measure, which passed with 46 votes in favour, 25 against, and one abstention,
See More
Italy gazettes state budget for 2026
Italy’s government has gazetted Law No. 199 of 30 December 2025 on the State Budget for 2026. The main tax measures include: The financial sector will face higher taxation, with new levies on banks, insurers, and financial operators
See More
Italy: Senate approves 2026 budget, increases taxes on banks
Italy’s government secured a decisive vote of confidence in the Senate on 30 December 2025 for its 2026 budget, winning 113 votes to 70, keeping it on track for final approval by parliament before year-end. The budget now moves to the lower
See More
Cyprus: Parliament passes tax reform package, introduces 120% R&D deductions
The Cyprus parliament passed a major tax reform package on 22 December 2025, introducing higher corporate taxation, expanded personal tax relief, new rules for crypto-asset income, and strengthened compliance mechanisms, alongside targeted
See More
Ukraine raises corporate tax rate for banks in 2026
Ukraine has enacted Law No. 4698-IX, published in the Official Gazette on 26 December 2025, introducing significant amendments to the country’s Tax Code and related legislation. Under the new law, banks will face a corporate income tax rate of 50%
See More
Belgium raises annual tax on credit institutions
Belgium’s Federal Public Service (FPS) Finance has gazetted the Law of 19 December 2025 on 30 December 2025, introducing amendments to the Income Tax Code (CIR 92) which includes changes to the annual tax on credit institutions. The law
See More
Iceland: Revenue and Customs announce corporate tax, VAT rates for 2026
Iceland’s tax authority, the Revenue and Customs, has released the key rates and amounts for 2026, detailing changes to corporate tax, VAT, and personal income tax. The rate changes are as follows: Corporate tax rate changes Income
See More