European Commission to negotiate with Norway on administrative cooperation in direct tax
This proposed agreement aims to align Norway with certain aspects of the EU Directive on Administrative Cooperation (DAC), enabling the automatic exchange of tax-related information. The European Commission announced its decision to move
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Australia: ATO updates monthly foreign exchange rates for the 2025–26 income year
The ATO has updated its foreign exchange rate guidance, including monthly exchange rates for 1 July 2025 to 30 June 2026, which covers the rates for September 2025. The Australian Taxation Office (ATO) has updated its foreign exchange rate
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EU: European Economic, Financial Affairs Council endorse tax measures to boost clean tech and industry
The clean industrial deal is a flagship initiative of the Competitiveness Compass – the EU’s roadmap to make business easier and faster and ensure Europe’s prosperity. The European Economic and Financial Affairs Council adopted conclusions
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Portugal announces 2026 Budget, proposes lower corporate tax rates
Portugal’s 2026 draft budget proposes tax cuts for companies, including a corporate tax rate reduction to 19% (and 15% for SMEs), as part of the plan to lower the rate to 17% by 2028. Portugal’s government has presented the draft State
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Denmark revises regulations for identification, reporting of financial accounts associated with foreign nations
Denmark published Executive Order No. 1160/2025 on 2 October 2025, requiring financial institutions to report foreign-linked accounts from 1 January 2026. Denmark has published Executive Order No. 1160/2025 revising regulations for the
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Dominican Republic: DGII consults VAT withholding rule update
This consultation will be open until Friday 12 December 2025.. The Dominican Republic’s General Directorate of Internal Taxes (DGII) has launched a public consultation on the draft “General Rule amending Article 8 of General Rule No.
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Egypt: Central bank lowers interest rate
Egypt’s central bank reduced its key interest rates, including the deposit, lending, main operation, and discount rates, by 100 basis points. The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) announced on 2 October 2025 to
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Malaysia presents 2026 Budget, extends R&D incentives
The 2026 income tax measures introduce new taxes, extended exemptions, and expanded incentives across sectors covering LLP profit distributions, foreign-sourced income, MSME listings, social enterprises, sustainable finance, carbon emissions,
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OECD publishes comments on copper transfer pricing framework for developing countries
The OECD toolkit helps developing countries tackle transfer pricing issues in the copper mining sector, building on their existing mineral pricing framework. The OECD released a compilation of public feedback on a draft toolkit designed to help
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Singapore introduces refundable investment credit regulations
Singapore enacts Income Tax (Refundable Investment Credits) Regulations 2025, introducing tax credits of up to 50% for qualifying business investments under Pillar 2 rules. Singapore has published the Income Tax (Refundable Investment Credits)
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Denmark proposes near-zero electricity tax for 2026–2027
Bill L 24 proposes cutting the general electricity tax to the EU minimum of 0.8 øre per kWh for 2026 and 2027. Denmark's Minister for Taxation submitted Bill L 24 to parliament on 8 October 2025, aiming to lower the general electricity tax to
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India: NITI Aayog proposes tax clarity for foreign investors
The working paper recommends that the Ministry of Finance consider the proposed framework for inclusion in future Finance Bills, following consultations with industry, experts, and treaty partners. NITI Aayog’s tax policy group in India has
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Saudi Arabia: ZATCA urges taxpayers to benefit from fines cancellation scheme
ZATCA urged taxpayers to use its fines and penalties exemption scheme before 31 December 2025. The Saudi Zakat, Tax and Customs Authority (ZATCA) has urged all taxpayers to leverage from the “Cancellation of Fines and Exemption of Penalties
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US: IRS announces 2026 tax inflation adjustments, includes amendments from One Big Beautiful Bill
The IRS detailed annual inflation adjustments for the tax year 2026, affecting over 60 tax provisions, including tax rate schedules and other related changes. The US Internal Revenue Service (IRS) released Revenue Procedure 2025-32, detailing
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Greece unveils 2026 budget with targeted tax cuts to ensure fiscal stability
The 2026 budget introduces tax relief measures, including reduced real estate and VAT rates, and additional initiatives such as a Pharmaceutical Innovation Fund and the elimination of the TV subscription fee. Greece’s Ministry of Finance
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Greece: AADE opens digital applications for special taxation of income
From 3 October, new tax residents can apply on myAADE for Greece’s Article 5G special tax regime. The Greek Independent Authority for Public Revenue (AADE) has announced that, starting 3 October, individuals transferring their tax residence to
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Singapore: IRAS updates e-Tax guide on non-taxation of gains from share disposals
IRAS updates e-Tax Guide to expand the non-taxation scheme for share disposal gains from 2026. The Inland Revenue Authority of Singapore (IRAS) issued the updated e-Tax Guide on the Certainty of Non-taxation of Companies’ Gains on Disposal of
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New Zealand: Central Bank lowers benchmark interest rate to 2.5%
The central bank lowered its benchmark interest rate by 50 basis points to 2.5%. New Zealand's central bank, the Reserve Bank of New Zealand (RBNZ), announced on 8 October 2025 that it has lowered its benchmark interest rate by 50 basis points
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