Italy: MoF releases DAC8 implementation guidelines
Italy’s Ministry of Economy and Finance published the Ministerial Decree of 30 December 2025 in the Official Journal No. 302 of 31 December 2025, which establishes the implementing rules for the recently transposed Amending Directive to the 2011
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Angola: MoF introduces mandatory e-invoicing for large companies from 2026
Angola’s Ministry of Finance (MOF) has confirmed that electronic invoicing (e-invoicing) will become mandatory for large companies from 1 January 2026, with the obligation extending to all companies in 2027. The announcement was made on 9
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Sri Lanka: IRD revises betting and gaming levies from January 2026
The Inland Revenue Department (IRD) of Sri Lanka has announced updated levies for betting and gaming businesses following amendments to the Betting & Gaming Levy Act, No. 40 of 1988, under the Betting and Gaming Levy (Amendment) Act No. 25 of
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UAE: FTA issues guidance on tiered volumetric excise tax for sweetened drinks
The UAE’s Federal Tax Authority (FTA) has issued Excise Tax Public Clarification EXTP013, dated 29 December 2025, detailing the implementation of a tiered volumetric model for Excise Tax on Sweetened Drinks. The new model came into effect for
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Russia: FTS updates jurisdictions list for automatic financial information exchange
Russia’s Federal Tax Service (FTS) has updated the list of jurisdictions that exchange financial account information under the CRS/AEOI framework. The update was made through FTS Order No. ED-7-17/883 dated 14 October 2025, registered with the
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Denmark publishes consolidated income tax assessment act
Denmark has gazetted the consolidated text of the Income Tax Assessment Act (Ligningsloven) on 5 December 2025. The updated Act sets out the rules for calculating taxable income and includes provisions on exemptions, deductions, and specialised
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China: STA extends high-cap tax deductions for advertising through 2027
China’s Ministry of Finance and State Taxation Administration (STA) have announced the extension of preferential tax deduction rules for advertising and promotional (A&P) expenses on 22 December 2025 under the newly issued Announcement No. 16
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Ghana: GRA confirms major VAT reforms in 2025 Act
Ghana’s tax authority, the Ghana Revenue Authority (GRA), on 31 December 2025 issued a notice to all VAT-registered taxpayers outlining the VAT reforms enacted under the Value Added Tax Act, 2025, which will take effect from 1 January
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Singapore: IRAS expands list of jurisdictions for CbC exchange
The Inland Revenue Authority of Singapore (IRAS) has updated the list of jurisdictions with which Singapore will exchange Country-by-Country (CbC) reports under the Multilateral Competent Authority Agreement on Automatic Exchange of
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Germany gazettes global minimum tax reporting rules
Germany has introduced detailed rules for filing and exchanging Global Anti-Base Erosion (GloBE) information returns for multinational enterprises under the Pillar 2 global minimum tax, as set out in the Mindeststeuer-Bericht-Verordnung (MinStBV)
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Chile: SII launches simplified registry for subsistence taxpayers
Chile’s tax authority (SII) has issued Resolution Ex. SII No. 193-2025 of 22 December 2025, which introduces the “Registry of Small Taxpayers Developing Subsistence Activities.” This initiative aimed to simplify tax obligations for
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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,
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Singapore: IRAS revises e-tax guide on hybrid instrument taxation
The Inland Revenue Authority of Singapore (IRAS) has released the third edition of its e-Tax Guide on the Income Tax Treatment of Hybrid Instruments on 26 December 2025. The guide outlines how hybrid instruments are classified as debt or equity
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Argentina implements the BEPS MLI
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI) entered into force for Argentina on 1 January 2026. Argentina signed the convention on 7 June 2017 and deposited its final MLI Position on 29 September
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Malaysia: IRBM defers e-invoicing for new businesses, exempts sub-MYR 1 million revenue taxpayers
The Inland Revenue Board of Malaysia (IRBM) has released an updated guidance on 7 December 2025, where it revised the annual turnover threshold for e-invoicing. In a previous report, taxpayers with annual turnover or revenue below MYR 500,000
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China unveils new implementation regulations for VAT law
China’s State Council has released the Regulations for the Implementation of the Value-Added Tax (VAT) Law on 30 December 2025, marking a significant milestone in the nation's fiscal modernisation. The VAT Implementation Regulations (VATIR)
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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
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Malaysia: IRBM updates ruling on tax classification for SMEs
The Inland Revenue Board of Malaysia (IRBM) released Public Ruling No. 8/2025 on 22 December 2025, providing guidance on the classification and tax treatment of micro, small, and medium-sized companies or enterprises (MSMEs), including limited
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