Canada: Bank of Canada cuts rate amid US tariff hike
The Bank of Canada lowered its key interest rate to 2.25% on Wednesday, 29 October 2025, citing ongoing economic weakness, but emphasised that monetary policy cannot reverse the structural damage caused by the US trade war. The central bank
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South Africa: SARS revises timeline for GloBE registration, notification
The South African Revenue Service (SARS) has rescheduled the launch of the GloBE registration and notification functionality on e-Filing from December 2025 to 16 March 2026. This adjustment ensures system quality and compliance with international
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Ecuador: SRI extends VAT, withholding tax filing deadlines for Imbabura taxpayers
The Internal Revenue Service of Ecuador (SRI) has issued Resolution NAC-DGERCGC25-00000033, extending the deadlines for filing September 2025 Value Added Tax (IVA) and Withholding at the Source (retenciones en la fuente) returns, including their
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US: IRS announces tax relief for North Dakota and South Dakota storm, flood victims
The US Internal Revenue Service (IRS) released ND-2025-01 and SD-2025-01 on 29 October 2025, announcing tax relief for individuals and businesses in parts of North Dakota and South Dakota affected by severe storms and flooding that began on 12 June
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Latvia considers reducing VAT for select foods, publications
Latvia is considering reducing the VAT rate for select food items and publications under the 2026 state budget. As such, Latvia will introduce a 12% VAT rate for selected food products from 1 July 2026 to 30 June 2027. This would include all
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US: IRS announces tax relief to Alaska storm and flood victims
The US Internal Revenue Service (IRS) in a notice (AK-2025-0) on 30 October 2025 announced tax relief for individuals and businesses in the Lower Kuskokwim Regional Educational Attendance Area, Lower Yukon Regional Educational Attendance Area, and
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Vietnam: MoF releases pillar 2 tax procedures, forms
Vietnam’s Ministry of Finance has issued Decision 3563/QD-BTC introducing new tax administrative procedures and forms on 21 October 2025, under the management of the Tax Management Department of Large Enterprises, in line with Decree
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Belgium extends personal income tax filing deadline
Belgium's Federal Public Service (SPF) Finance announced on 29 October 2025, the postponement of the deadline for filing online tax returns for individuals with specific income via MyMinfin to 7 November 2025. The deadline was 31 October
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US: Texas issues new franchise tax rates, threshold caps for 2026–27
The Texas Comptroller of Public Accounts has released the franchise (margin) tax rates, thresholds, and deduction limits for 2026 and 2027. The tax rates remain unchanged from 2024 to 2025, while both the no-tax-due threshold and the compensation
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Slovak Republic: Government audit office to merge with the Ministry of Finance
The Slovak Republic’s President Peter Pellegrini has signed an amendment to Act No. 357/2015 Coll. on Financial Control and Audit, aimed at accelerating the disbursement of EU funds and introducing a simpler, more transparent financial control
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OECD reports increased use of trade policy for agricultural sustainability, calls for changes
The OECD stated in a press release on 30 October 2025 that governments are increasingly adopting trade policy measures and incorporating environmental provisions into trade agreements to promote agricultural sustainability and enhance long-term
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US: California enacts law for IRC provisions conformity, introduces R&D tax credits
California Governor Gavin Newsom signed Senate Bill 711 (SB 711) into law on 1 October 2025, bringing the state’s tax code into conformity with various Internal Revenue Code (IRC) provisions from 1 January 2015 through 1 January 2025. SB 711,
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India: CBDT extends income tax returns, audit report deadlines for AY 2025-26
The Central Board of Direct Taxes (CBDT), operating under the Government of India's Ministry of Finance, Department of Revenue, has announced an extension of deadlines for filing Income Tax Returns (ITRs) and various reports of audit for the
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France: National Assembly passes first-reading amendments to the 2026 finance bill, focuses on major corporations
France’s National Assembly introduced several amendments to the Finance Bill for 2026, some of which have been approved during its first reading on 30 October 2025. The changes primarily target large corporations and business groups, introducing
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New Zealand: Opposition party proposes targeted capital gains tax to fund free doctor visits
RF Report The Labour Party of New Zealand, the leading opposition party in parliament, has announced a proposal which targets capital gains tax on profits from the sale of commercial or residential properties, excluding the family home,
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Taiwan: Tax Bureau clarifies making up past losses in undistributed earnings
RF Report HuWei Office, National Taxation Bureau of the Central Area, Ministry of Finance, Taiwan, stated, pursuant to Article 66-9 of the Income Tax Act, when a profit-seeking enterprise files its undistributed earnings, its surplus earnings can
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Greece: Ministry of National Economy and Finance proposes draft tax reform to support families, housing, growth
RF Report Greece's Ministry of National Economy and Finance has unveiled a draft law aimed at boosting citizen income, addressing demographic challenges, and increasing long-term rental housing availability. The reforms target personal income
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Chile: Tax Authority updates IVA rules for digital platform operators
RF Report The Chilean Tax Authority (Servicio de Impuestos Internos, SII) issued Resolution Ex. SII No. 145-2025 on 16 October 2025, setting out the obligations of digital platform operators with residence or domicile in Chile regarding Value
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