Iceland presents 2026 Budget, proposes implementation of Pillar 2 global minimum tax
Iceland’s 2026 Budget introduces the Pillar 2 global minimum tax (IIR and QDMTT), a kilometre-based vehicle tax, and a phased removal of fuel excise duties with higher carbon taxes. Iceland's Finance Minister, Daði Már Kristófersson,
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Chile: SII issues guidance on reduced tax rates and advance payments for SMEs
The reduced income tax rates take effect on 1 January 2025, and the reduced PPM rates apply from August 2025 to December 2027. Chile’s Tax Administration (SII) has published Circular SII No. 53-2025 on its website on 3 September 2025, outlining
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Malta to introduce 15% minimum tax for MNEs
Malta imposes a 15% final tax on large multinationals under new regulations. Malta’s government has issued Legal Notice 188 of 2025, titled the Final Income Tax Without Imputation Regulations, 2025, under Article 22B of the Income Tax Act on 2
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Romania gazettes ordinance amending global minimum tax rules
The Ordinance updates Law No. 431/2023 to implement the Pillar 2 global minimum tax under EU Directive 2022/2523. Romania has published Ordinance No. 21 of 28 August 2025 in the Official Gazette on 29 August 2025. Government Ordinance No.
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Ireland: Irish Revenue releases Pillar 2 Registration guidance
The guidance offers comprehensive instructions on how to register for Pillar 2 taxes. Irish Revenue has released eBrief No. 170/25 on Tax and Duty Manual Part 04A-01-01A on 5 September 2025, providing comprehensive guidance on the registration
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Netherlands releases Q&As on Minimum Tax Act 2024
The Q&As offer practical guidance for implementing the Minimum Tax Act 2024 in the Netherlands. The Netherlands tax authority has released a Q&A document on the Minimum Tax Act 2024. This document compiles questions submitted to the
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Zambia introduces 1% minimum tax, raises withholding tax on government bonds
Zambia’s 2025 tax update introduces a 1% turnover tax and raises government bond withholding tax to 20%. Zambia passed the Income Tax (Amendment) Act 2025 on 8 August 2025, with its publication in the Official Gazette following on 19 August
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Czech Republic gazettes amendment to minimum tax law
The bill extends Czech filing deadlines: tax returns are now due 22 months after the tax period (up from 10 months), and information returns 15 months (18 months for first filings), up from 10 months. The Czech Republic's
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Finland: Government announces 2026 budget measures
The 2026 budget proposal includes reduced corporate tax rates, tightened crypto reporting requirements, adjusted VAT rates, and cuts to CO2 fuel taxes, as well as increased taxes on vehicles, tobacco, alcohol, and soft drinks. Finland’s
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Poland: Government adopts 2026 budget law, increases corporate tax for banks
The draft 2026 budget law increases the corporate tax rate for the banking sector, a rise in the VAT exemption threshold from PLN 200,000 to PLN 240,000, and a 15% hike in excise rates on alcoholic beverages. Poland's government has adopted the
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UK: HMRC updates guidance on Pillar 2 top-up taxes reporting, registration
HMRC has refreshed its guidance on registering and reporting Pillar 2 Top-up Taxes, clarifying who can file, what information is needed, and when returns are due. UK HMRC updated their guidelines on “How to report Pillar 2 Top-up Taxes” and
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Australia: ATO consults Pillar Two filing exemptions for nil top-up tax cases
The deadline for submitting feedback is 24 September 2025. The Australian Taxation Office (ATO) has initiated a public consultation on a draft legislative instrument on 28 August 2025, aimed at easing compliance for multinational enterprise
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Brazil consults changes to net profit social contribution (Pillar Two QDMTT)
The consultation period will conclude on 14 September 2025. Brazil's Federal Revenue Service (RFB) has initiated a public consultation to discuss proposed amendments to Normative Instruction RFB No. 2.228 of 3 October 2024, which governs the
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Romania: MoF issues draft ordinance, proposes amendments to global minimum tax rules and direct taxes outlined in Fiscal Code
The Ministry of Finance has proposed legislative amendments to the Pillar Two global minimum tax and corporate income tax in the Fiscal Code. Romania’s Ministry of Finance has recently introduced two legislative amendments: one proposes
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The legislative instrument takes effect on 27 August 2025 and remains applicable until 1 April 2035. The Australian Official Gazette has published a legislative instrument “Taxation (Multinational-Global and Domestic Minimum Tax) (Qualified
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Poland: MoF to increase corporate tax rate for banks
The changes are set to take effect on 1 January 2026. Poland’s Ministry of Finance has announced plans on 21 August 2025 to adjust the corporate income tax rate for banks, with a target rate of 23% starting in 2028, up from the current
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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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