Italy: Protest breaks out over 2026 budget proposal
Thousands of people across Italy joined a nationwide strike on 12 December 2025, organised by Italy’s main union, CGIL (Italian General Confederation of Labour), to oppose the government’s proposed 2026 budget. The protest comes ahead of
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Ireland: Revenue updates guidance on renewing tax rulings
Irish Revenue has issued eBrief No. 230/25 on 5 December 2025, providing updated guidance for taxpayers on renewing or extending tax rulings (opinions/confirmations) issued in 2020. Tax and Duty Manual Part 37-00-41, “Review of Opinions or
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Hungary enacts 2026 autumn tax reforms, additional measures
Hungary has enacted several significant tax measures through legislative acts to reduce administrative burdens, promote business investment, and align domestic rules with EU directives. The measures are scheduled to take effect in 2026 unless
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Turkey extends withholding provisions related certain capital market earnings until 2030
Turkey’s President has extended the tax withholding rules on certain capital market earnings for another five years. The decision was made under Presidential Decree No. 10680, published in the Official Gazette on 11 December 2025 (No.
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UAE: Ministry of Finance revises excise tax rules on sweetened beverages
The UAE’s Ministry of Finance has announced the issuance of Cabinet Decision No. (197) of 2025 on selective goods, the tax rates or amounts imposed on them, and the method for calculating the selective price on 11 December 2025. The resolution
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Colombia: Senate Committee rejects 2026 tax reform
Colombia’s Senate announced that its Fourth Commission voted down the government’s proposed 2026 tax reform during the third joint session of Congress’s Economic Commissions, with 4 votes in favour and 9 against. This announcement was made
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Oman: OTA consults on draft e-invoicing data dictionary
Oman’s Tax Authority (OTA) has released a draft electronic invoicing (e-invoicing) data dictionary for consultation on 1 December 2025. This is part of preparations for the country’s e-invoicing rollout in August 2026. The data dictionary,
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Ireland launches public consultation on modernised withholding tax regime
The Irish Department of Finance and Revenue has opened a joint public consultation on the modernisation of Professional Services Withholding Tax (PSWT) and Relevant Contracts Tax (RCT), the expansion of withholding tax to the platform economy, and
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Brazil: RFB launches compliance program focused on legal certainty
Brazil’s Federal Revenue Service (RFB) announced on 10 December 2025 the launch of Confia, its Cooperative and Tax Compliance program, marking a historic moment for the relationship between the tax authorities and taxpayers. Federal government
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US: IRS, Treasury issue guidance on enhanced health savings account tax benefits under the One, Big, Beautiful Bill
The Department of the Treasury and the Internal Revenue Service (IRS) issued Notice 2026-05 on 9 December 2025, announcing new guidance on tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill. These changes
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Andorra, EU protocol to AEOI agreement enters into force
The amending protocol to the Andorra–European Union Automatic Exchange of Information Agreement, signed on 13 October 2025, will come into effect on 1 January 2026. The key measures involve updating the Common Reporting Standard (CRS) to align
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Hong Kong: IRD consults CARF adoption, CRS rules update
Hong Kong’s Inland Revenue Department (HKIRD) has launched a public consultation on 9 December 2025 on the implementation of the Crypto-Asset Reporting Framework (CARF) and amendments in relation to the Common Reporting Standard (CRS) promulgated
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Norway: Parliament approves 2026 budget bill, corporate tax rate unchanged
Norway’s parliament passed the proposed 2026 Budget bill on 5 December 2025. This follows Norway’s government's presentation of its 2026 state and national budget proposals on 15 October 2025. The bill boosts welfare, defence, and climate
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Brazil: RFB aligns crypto reporting rules with CARF standards
Brazil’s Federal Revenue Service (RFB) has released Normative Instruction No. 2291 of 14 November 2025, which updates the country’s crypto-asset reporting rules to align with the OECD Crypto-Asset Reporting Framework (CARF). The Federal
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Singapore: IRAS publishes ninth edition REIT ETF tax guide
The Inland Revenue Authority of Singapore (IRAS) has updated e-Tax Guides concerning Income Tax Treatment of Real Estate Investment Trust Exchange-Traded Funds (Ninth Edition) on 4 December 2025. This e-Tax Guide explains the income tax
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UK increases taxable benefits for company cars, vans and fuel for 2026/27
The UK has increased the taxable benefits for company cars, vans, and fuel for the 2026/2027 tax year. The changes are outlined in the Van Benefit and Car and Van Fuel Benefit Order SI 2025/1254, made on 1 December 2025. From 6 April 2026, the
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South Africa: SARS updates average exchange rates for major currencies
The South African Revenue Services (SARS) released updated Average Exchange Rates on 5 December 2025, providing essential data for calculations. The update includes rates for the Australian dollar, Canadian dollar, Euro, Hong Kong dollar, Indian
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UK: HMRC publishes guidance on transferring a business out of a company
The UK’s HM Revenue & Customs (HMRC) has published a guidance, on 1 December 2025, for business owners on how to disincorporate a company and continue running its business directly, either as a sole trader or partnership. The guidance also
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