Russia: Central Bank maintains foreign cash restrictions amid sanctions
Russia’s central bank maintains foreign cash limits under sanctions. The Bank of Russia maintains restrictions on cash currency in connection with the sanctions in force against our country, which prohibit domestic financial institutions from
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Sri Lanka: Inland Revenue announces end of SVAT scheme
The Inland Revenue Department will repeal the SVAT Scheme from 1 October 2025, with September (monthly) and July (quarterly) being the last periods under SVAT, after which standard VAT rules apply. Sri Lanka’s Inland Revenue Department has
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Ireland: Irish Revenue revises VAT registration guidance
The guidance provides updates the Tax and Duty Manual Part 38-01-03b, which provides guidelines for VAT registration. Irish Revenue’s eBrief No. 168/25, released on 3 September 2025, updates the Tax and Duty Manual Part 38-01-03b, which
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Vietnam: Government issues decree on Pillar 2 global minimum tax implementation, includes compliance
The Decree outlines Vietnam’s Pillar 2 global minimum tax rules for MNEs, including IIR and QDMTT, specifying notification, registration, and reporting deadlines. Vietnam’s government announced that it has issued Decree No. 236/2025/ND-CP,
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Chile: SII provides clarification on new VAT Rules for low-value products purchased via remote sellers, online platforms
Ruling No. 1688-2025 states that DPIs selling low-value goods in Chile are not VAT taxpayers, must include all charges in the total price, and can reclaim excess VAT on returned goods after refunding the customer. Chile’s Tax Administration
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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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Switzerland: National Council approves CARF MCAA, Addendum to CRS MCAA
National Council approves CARF MCAA and CRS MCAA Addendum for enhanced tax information exchange. Switzerland’s National Council (Nationalrat) approved the Multilateral Competent Authority Agreement under the Crypto-Asset Reporting Framework
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Turkey: Government tightens criteria for simplified business taxation
The simple method allows eligible taxpayers to calculate business income by subtracting expenses from revenue without detailed accounting, provided they meet the participation, rental, turnover, and IIT exemption criteria. Turkey’s government
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Poland publishes law mandating national e-invoicing system (KSeF)
Poland’s President signed a law on 27 August 2025 mandating the national electronic invoicing system (KSeF). Poland’s government has published legislation establishing a mandatory national e-invoicing system (KSeF) for large taxpayers,
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South Africa: SARS consults on draft tax exemption guidance
Comments on the draft Note must be submitted by 10 October 2025. The South African Revenue Service (SARS) has initiated a public consultation on a draft interpretation note on the income tax exemption applicable to bodies corporate, share block
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Costa Rica: DGT extends filing deadline for transfer pricing informative statements for 2024
Resolution MH-DGT-RES-0043-2025 extends the initial transitional deadline to 31 March 2026 for the 2024 fiscal year. Costa Rica’s Tax Administration (DGT) has published Resolution No. MH-DGT-RES-0043-2025 in the Official Gazette on 5
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UAE: MoF issues new rules on qualifying and excluded activities in free zones
UAE issues Ministerial Decision No. 229 of 2025 on Free Zone corporate tax activities, effective from 1 June 2023. The UAE Ministry of Finance ( MOF) issued Ministerial Decision No. 229 of 2025 on 28 August 2025, which repeals Ministerial
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Singapore: IRAS publishes updated FAQs on GST registration obligations
IRAS updated its FAQs on 28 August 2025 to clarify GST registration requirements for businesses.= The Inland Revenue Authority of Singapore has updated its guidance on Do I need to register for GST on 28 August 2025. This includes new and
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Ireland: Revenue updates guidance on Irish real estate fund regime
Revenue updates guidance on Irish Real Estate Funds. Irish Revenue has released eBrief No. 166/25 on 5 September 2025, announcing revisions to the Tax and Duty Manual, Part 27-01b-02, concerning the administration of the Irish Real Estate Fund
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Taiwan extends deadline for foreign tax treaty applications
Taiwan’s Ministry of Finance clarifies that foreign taxpayers can now apply for income tax treaty benefits up to ten years from tax payment, subject to treaty-specific rules. Taiwan’s Ministry of Finance has released a statement providing
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Germany: MoF unveils draft tax amendment Act 2025
Draft law proposes income tax relief, VAT cuts, and simplifications for nonprofits. The German Ministry of Finance released the draft Tax Amendment Act 2025 on 5 September 2025, proposing tax relief measures for individuals and technical
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Sri Lanka: Cabinet approves delay in VAT for non-resident digital service providers
Sri Lanka delays VAT implementation from 1 October 2025 to 1 April 2026 for compliance purposes. Sri Lanka’s Cabinet has approved a postponement of the Value Added Tax (VAT) on digital services supplied by overseas companies to local
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Thailand: Cabinet approves bill on Qualified Refundable Tax Credits in Pillar 2 framework
The Bill allows promoted companies to receive cash refunds for unused tax credits, which are treated as income for Pillar 2 purposes, ensuring no adverse effect on the effective tax rate. QRTCs cover investments in R&D, advanced skills,
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