Russia: CBR reduces key interest rate
The Central Bank of Russia (CBR) has reduced the key interest rate from 15.5% to 15%. The CBR's key interest rate is applied in calculating interest deductions and the interest on late payment of overdue taxes. This announcement was made on 20
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Greece: AADE issues guidance on digital transaction tax application
Greece’s Independent Authority for Public Revenue (AADE) issued Circular E. 2011 on 10 March 2026, providing detailed guidance on the application of the Digital Transaction Tax (Law 5177/2025), which replaced the Stamp Duty on 1 December
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UK: Finance Act 2026 receives Royal Assent
The UK’s Finance (No. 2) Bill 2025-26 was granted Royal Assent on 18 March 2026 and has now been enacted as the Finance Act 2026, introducing measures across income, corporate, and inheritance taxes, environmental levies, and tax
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US: IRS to host webinar on One, Big, Beautiful Bill business tax provisions
The US Internal Revenue Service (IRS) has scheduled a webinar for 24 March 2026 at 2 PM Eastern time to explain business tax provisions introduced under the One, Big, Beautiful Bill. Tax professionals can earn two continuing education credits for
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UN Tax Committee Discusses Extractive Industries Taxation
The 32nd session of the UN Committee of Experts on International Cooperation in Tax Matters commenced on 23 March 2026. The Committee discussed the continuing work on aspects of taxation in the extractive industries. The relevant subcommittee
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Cyprus sets 10-year bond yield benchmark for notional interest deduction
The Cyprus Tax Department announced, on 18 March 2026, the issuance of the 10-year government bond yield rates as of 31 December 2025 for various countries related to the Notional Interest Deduction (NID) on equity investments. These rates will
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Israel: Banks agree on one-time payment deal to state, abandons proposed excess-profit tax
Israel's Ministry of Finance and the Banks Association finalised a compromise deal that will see banks transfer ILS 3.25 billion to the state in 2026 and an additional ILS 250 million in 2027. The deal replaces a planned five-year taxation framework
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UK: HMRC consults close company participator reporting
The UK’s HM Revenue & Customs (HMRC) has initiated a public consultation on proposed rules for reporting transactions between close companies and their participators on 19 March 2026. This consultation seeks views on proposals to introduce
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Denmark consults adoption of Peppol BIS e-invoicing standard
Denmark’s Business Authority has opened a public consultation on a proposed strategy for e-invoice formats within Nemhandel, the country’s national e-invoicing infrastructure used by both the public and private sectors. The strategy document was
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Bosnia and Herzegovina: Upper house adopts mandatory e-invoicing law
Bosnia and Herzegovina’s House of People (Upper House) adopted a law requiring all transactions to be reported electronically in real time, aiming to improve tax compliance and reduce the informal economy. The law was published in Official
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Singapore: IRAS updates GST guidance for construction services
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on Goods and Services Tax (GST) for construction services, introducing a new video to clarify key rules for the industry on 18 March 2026. The video covers general GST
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Taiwan clarifies only full-time personnel qualify as eligible expenditure for R&D tax credit
Taiwan’s Ministry of Finance issued a notice on 16 March 2026, clarifying that only full-time personnel fully dedicated to R&D activities qualify as eligible expenditure for investment tax credits. To advance industrial innovation and
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UAE offers 50% non-refundable credit in first phase of R&D tax incentives programme
The UAE has launched Phase 1 of its Research and Development (R&D) Tax Incentives Programme, aimed at strengthening the country’s innovation ecosystem and supporting sustainable economic growth. Under the initial phase, businesses can claim
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EU Commission presents proposal for single set of corporate rules (28th company regime)
The European Commission, on 18 March 2026, presented its proposal and a dedicated FAQ page for EU Inc., a new single set of corporate rules, building the cornerstone and starting point for the EU's 28th regime. EU Inc. is an optional,
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Bulgaria joins OECD tax assurance programme
The OECD has announced, on 17 March 2026, that Bulgaria has joined the International Compliance Assurance Programme (ICAP), bringing the total number of participating countries to 24. ICAP is a voluntary programme designed to enable multinational
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UAE: FTA clarifies excise tax treatment of natural shortages in designated zones
The UAE Federal Tax Authority (FTA) has issued Excise Tax Public Clarification EXTP014, updating and replacing EXTP011, to clarify the treatment of Natural Shortage of excise goods within Designated Zones (DZs). The clarification defines
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Slovak Republic mandates e-invoicing for B2B transactions from 2027
The Slovak Republic's Financial Administration has published detailed guidance addressing the practical implementation of mandatory electronic invoicing (eFaktura), which will require businesses to adopt the system for domestic B2B and B2G
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Norway advances digital bookkeeping, e-invoicing mandate for businesses
Norway's Ministry of Finance is introducing legislation that will require all businesses to adopt digital accounting systems and electronic invoicing, according to a follow-up letter on 16 March, 2026. This follows recommendations from the Tax
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