Russia: State Duma approves key tax policy bill, introduces incentives for businesses and individuals
Russia’s State Duma approved in its second reading of a bill outlining major directions of the country’s tax policy, incorporating proposals from businesses and government agencies, and implementing directives from the President and Government
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UK: HMRC urged large businesses to review of management expenses
The UK’s tax authority, HMRC has written to holding companies with overseas subsidiaries urging them to review the tax treatment of management expenses claimed where those expenses may benefit a connected party. The letters are part of an
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Bolivia: Chamber of Deputies considers 2026 state budget proposal
Bolivia’s Executive Branch has submitted the 2026 General Budget Bill to the Chamber of Deputies on 31 October 2025, outlining a series of targeted tax incentives to reduce the cost of public debt operations conducted in foreign capital
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Poland secures boost in EU 2026 budget for key development programmes
The EU Council and the European Parliament announced that negotiations on the 2026 EU budget were concluded on 15 November 2025. The agreed budget allocates additional funding to several Polish priorities, including border security, transport
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Canada: DoF introduces legislation to implement 2025 budget, includes tax incentives for capital investments
Canada’s Department of Finance announced the introduction of Bill C-15, Budget 2025 Implementation Act, No. 1, on 18 November 2025. It is an important first piece of legislation to advance key Budget 2025: Canada Strong priorities. Bill C-15
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Lebanon: Ministry of Finance clarifies electronic communication procedures
The Ministry of Finance (MoF) has introduced new procedures for taxpayers to communicate with its departments electronically. The decision, dated 1 October 2025 (Decision No. 843/1), requires submissions via email for a range of tax-related
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Japan: FSA considers defining cryptocurrencies as financial products
Japan’s Financial Services Agency (FSA) is planning new regulations that would treat 105 cryptocurrencies, including bitcoin and ethereum, as financial products subject to insider trading rules. Under the proposal, exchange operators would need
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OECD releases 2025 report on tax administration highlighting growing role of AI
The OECD has published a report titled “Tax Administration 2025: Comparative Information on OECD and other Advanced and Emerging Economies,” on 17 November 2025, providing internationally comparative data on tax systems and administration across
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OECD publishes report on recent trends in taxes on energy use, carbon pricing
The OECD published a report titled “Effective Carbon Rates 2025: Recent Trends in Taxes on Energy Use and Carbon Pricing”, which provides insights into how countries are implementing carbon taxes, emissions trading schemes, and fuel excise
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EU Parliament endorses BEFIT corporate tax framework
The European Parliament has approved Legislative Resolution No. P10_TA(2025)0268 on the Business in Europe Framework for Income Taxation (BEFIT) on 13 November 2025. The resolution introduces a unified framework for corporate taxation across the
See MoreRussia: Ministry of Finance proposes removing UAE from offshore zones list
Russia’s Ministry of Finance has proposed removing the UAE from its Special List of jurisdictions considered offshore zones for the period 2024 to 2026. The list covers countries and territories with preferential tax regimes or limited
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Taiwan: Tax Authority clarifies rules for claiming losses on damaged assets
Taiwan’s National Taxation Bureau of the Southern Area outlined rules for claiming losses on damaged assets. Southern Taiwan recently faced torrential rains, causing flooding in low-lying areas. The National Taxation Bureau of the Southern
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Belgium expands tax-neutral rules to simplify sister mergers
Belgium’s Chamber of Representatives approved a law extending the country’s tax-neutral treatment to simplified sister mergers on 23 October 2025. The legislation, based on the EU Mobility Directive (2019/2121), amends the Income Tax Code and
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US: New York weighs corporate tax hike as budget gaps deepen
New York Governor Kathy Hochul is considering whether to raise corporate taxes as the state confronts a sizable budget gap intensified by expected federal funding cuts, a source reported on 14 November 2025. While no proposal has been finalised,
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Slovenia: Government endorse amendments to draft 2026-27 budget implementation act, includes corporate tax increases
During a correspondence session on 15 November 2025, Slovenia’s government endorsed proposed amendments to the draft Act on the Implementation of the Budgets of the Republic of Slovenia for 2026 and 2027. The revisions were prepared in response
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US: Interest rates remain the same for the first quarter of 2026
The US Internal Revenue Service (IRS) announced, on 13 November 2025, that interest rates will remain the same for the calendar quarter beginning 1 January 2026. For individuals, the rate for overpayments and underpayments will be 7% per year,
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UAE: Government conducts first digital dirham transaction
The Ministry of Finance and Dubai Finance (DOF) have announced the execution of the UAE’s first government financial transaction using Digital Dirham, in collaboration with the Central Bank of the UAE. The transaction marks a significant step
See MoreTaiwan: NTB clarifies scope of business tax
Taiwan’s Taipei National Taxation Bureau of the Ministry of Finance stated, on 13 November 2025, that if a business operator collects compensation or penalty fees arising from the sale of goods or services, these fall within the scope of
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