Chile: Tax Authority updates Second Category Income Tax parameters for January 2026
Chile’s tax authority (Servicio de Impuestos Internos – SII) has issued Circular No. 67 of 10 December 2025, confirming the Second Category Income Tax values and calculation tables to be applied in January 2026. The guidance, which marks the
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Greece enacts law introducing strategic investment incentives, 100% deduction for defence
Greece has passed Law 5246/2025, “Tax Reform for Demographics and the Middle Class – Support Measures for Society and the Economy”, following parliamentary approval on 7 November 2025. The law introduces broad tax reforms, including
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Estonia gazettes law reducing motor vehicle tax for families with children
Estonia gazetted amendments to the Motor Vehicle Tax Act on 12 November 2025, introducing new tax reductions for parents and guardians. Under the changes, adults with custody of at least one child aged 18 or younger will receive an automatic
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Taiwan introduces business tax rules for influencers
Taiwan's Ministry of Finance's Taipei National Taxation Bureau has announced, on 13 November 2025, the implementation of new tax regulations specifically targeting individuals who earn income through online platforms, commonly known as
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Ukraine: Parliament considers tax on digital platform income
The draft proposes a 5% individual income tax for qualifying Ukrainian resident sellers. Ukraine’s parliament is reviewing draft law No. 14025 on 9 September 2025, which will tax income earned by individuals through online platforms. The
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Luxembourg proposes permanent carried interest tax regime
Bill No. 8590 aims to establish a permanent tax framework for carried interest and strengthen Luxembourg’s position in asset management. The Luxembourg Government submitted Bill No. 8590 on 24 July 2025 to the Chamber of Deputies, introducing
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Nigeria: President approves four new tax reform bills
The new legislation comprises the Nigeria Tax Act, the Nigeria Tax Administration Act, the National Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act. Nigeria’s President Bola Tinubu has signed four major tax
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IMF: Labour Market Participation in Latin America
On 25 October 2024 the IMF launched the latest Regional Economic Outlook for the Western Hemisphere. A background paper to the report with the title Closing the Gap: Labor Market Participation in Latin America examined ways to increase labour force
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UK announces 2024 autumn budget
The UK autumn budget announcements were delivered today, 30 October 2024. Corporation tax The main rate of corporation tax will stay at 25% until the next election. National insurance National Insurance contributions for employers is to
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IMF Report Looks at Ukraine’s Economy
On 10 September 2024 the IMF and the Ukrainian authorities reached agreement on the Fifth Review of the four-year Extended Fund Facility (EFF) Arrangement, subject to approval by the IMF Executive Board. The statement issued by the IMF noted that
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IMF Working Paper: Advancing Labour Market Reforms in Korea
An IMF Working Paper of 23 August 2024 written by Stella Tam and Xin Cindy Xu looks at ways of advancing labour market reforms in Korea. The study looks at the structural challenges for the labour market in Korea and assesses the macroeconomic
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Estonia announces security tax, delays tax-free income increase
Estonia's new coalition government, formed by Prime Minister Kristen Michal, has published details of the Coalition Agreement 2024-2027, which was approved on 22 July 2024. One of the key tax measures proposed in the agreement is the introduction of
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UN: Ad Hoc Committee Discusses Issues for Early Protocols
Following an earlier Resolution on international tax cooperation and a report by the Secretary General setting out options going forward, UN Resolution 78/230 of 22 December 2023 established an ad hoc intergovernmental committee to draft terms of
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OECD: Taxing Wages 2024
On 25 April 2024 the OECD released Taxing Wages 2024. The publication gives cross-country comparisons of labour costs and the overall tax and benefit position in the OECD countries. The study analyses the income tax paid by employees, the cash
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Kazakhstan: Draft amendments in the Tax Code
The website of the Senate of the Republic of Kazakhstan posted a draft of amendments to the Tax Code of the Republic of Kazakhstan for 2024. Some of the amendments are traditionally retrospective and enacted from past periods. Here are some of the
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OECD: Taxation of Labour vs Capital Income – Focus on Higher Earners
An OECD Tax Working Paper published on 28 August 2023 looked at the different tax treatment of labour and capital income, examining especially the position of higher earners. A number of governments tax labour and capital income in different
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UK: Policy Paper on Tax Implications of Hybrid and Distance Working
On 20 December 2022 the UK’s Office of Tax Simplification (OTS) issued a policy paper on the tax implications of hybrid and distance working. This follows a call for evidence earlier in 2022 and consideration of the comments received from
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IMF Report Considers Romania’s Economic Situation
On 10 June 2022 the IMF published a report following discussions with Romania under Article IV of the IMF’s articles of agreement. Romania’s economy recovered well after the pandemic; but is now facing strong challenges. The GDP
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