Singapore: IRAS updates e-Tax guide on variable capital companies
The e-Tax Guide outlines the tax framework applicable to VCCs and is intended for individuals or entities involved in incorporating, registering, or managing a VCC. The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax
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El Salvador: MoF publishes guidance on preferential tax jurisdictions
El Salvador lists low- and no-tax jurisdictions for 2026, with related tax rules and treaty guidance. El Salvador's Ministry of Finance ( MOF) issued guidance MH.UVI.DGII/006.002/2025 on countries considered to have preferential tax regimes with
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Sweden: MoF proposes amending targeted interest deduction limitation rules
The changes are aimed at adjusting the interest deduction rules to align with EU regulations. The Swedish Ministry of Finance (MOF) has released a draft bill 2025/26:20 outlining specific changes to the Income Tax Act, aimed at adjusting
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UK: HMRC releases latest R&D tax credit data
HMRC reports GBP 7.6bn in R&D tax relief for 2023–24, with SME claims down and RDEC claims up. The UK’s HM Revenue and Customs (HMRC) published the latest update in its yearly series on research and development (R&D) activities on 30
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US: IRS, Treasury issues guidance to streamline interest capitalisation for property improvements
The guidance includes final regulations for eliminating the associated property rule and related provisions for interest capitalisation on improvements to designated property. The US Treasury and the Internal Revenue Service (IRS) have released
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Australia: ATO issues final guidance on guarantees and Division 7A avoidance
The guidance finalises ATO’s guidance and clarifies its view on the application of section 109U to private company arrangements involving guarantees under Division 7A. The Australian Taxation Office (ATO) announced it issued Taxation
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Israel consults draft law on domestic top-up minimum tax draft
Ministry of Finance initiated a public consultation on draft legislation introducing a domestic top-up minimum tax, set to apply from 1 January 2026 to Israeli-resident entities in multinational groups with global revenues of EUR 750 million or
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Netherlands: MoF revises VAT rules on valuation, fuel cards, and negative interest
The Decree provides guidance on calculating the VAT taxable amount, offering clarification on the treatment of fuel or charging cards and the transfer of negative interest by service providers. The Netherlands Ministry of Finance published Decree
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Netherlands consults new VAT rules for digital platforms in short-term rentals, passenger transport
The consultation closes on 3 November 2025. The Netherlands government has opened a public consultation on a proposed law targeting VAT responsibilities for digital platforms involved in short-term accommodation rentals and passenger transport on
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EU Commission recommends expanding access to tax-favoured savings and investment accounts (SIAs)
The EU recommended measures are aimed at increasing access to simplified, tax-advantaged savings and investment accounts. The European Commission (EC) issued a recommendation aimed at expanding access to savings and investment accounts (SIAs)
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US: IRS extends treaty benefits to reverse foreign hybrids subject to branch profits tax
The IRS Chief Counsel ruled that reverse foreign hybrids may qualify for reduced branch profits tax on dividend equivalent amounts attributable to treaty-eligible owners. The US Internal Revenue Service (IRS) Chief Counsel has determined that
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Bulgaria consults proposed transfer pricing reforms, positions to match OECD standards
The consultation is set to conclude on 23 October 2025. Bulgaria has initiated a public consultation on its proposed draft regulations to update its transfer pricing regulations as part of its efforts to join the Organisation for Economic
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Hong Kong: IRD lowers interest on tax reserve certificates
The new rate will apply to all tax reserve certificates purchased on or after 6 October 2025. The Hong Kong Inland Revenue Department (IRD) announced on 3 October 2025 that starting from 6 October 2025, the new annual rate of interest payable
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Belgium defines fixed financial asset requirement for participation exemption
The participation exemption applies to shareholders with at least 10% ownership or investments of EUR 2.5 million, provided the latter qualify as fixed financial assets. Belgium's Ministry of Finance has released Circular 2025/C/63 on 3 October
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European Commission releases reports on member states’ VAT rate exemptions
This report reviews how Member States apply VAT rate derogations, revealing an uneven distribution. The European Commission has released a report examining the VAT rate exemptions utilised by EU Member States, accompanied by annexes detailing
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US: IRS retracts proposed rules on corporate divisions, reorganisations
The U.S. Treasury and IRS have withdrawn the 30 September 2025 proposed regulations on corporate separations, incorporations, reorganisations, and multi-year tax reporting for related transactions. The U.S. Department of the Treasury and the
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Singapore: IRAS updates guidance on foreign tax credit claims
The updated guidance now features a revised eligibility flowchart and provides clearer time limits for claiming a Foreign Tax Credit (FTC). The Inland Revenue Authority of Singapore (IRAS) has released revised guidance on claiming a Foreign Tax
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Germany: MOF revises guidance on cross-border tax dispute resolution
The key changes in the guidance are aimed at simplifying terminology, clarifying the interaction of dispute resolution mechanisms, and providing expanded guidance for joint applications from partnerships and corporate groups. Germany’s Ministry
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