Taiwan: Taxpayers may provide a third party’s property as guarantee for applying for writing off the registration of disposal prohibition
Taiwan’s tax authorities allow taxpayers to provide third-party assets as collateral to remove a property disposal prohibition. The National Taxation Bureau of Taipei, Ministry of Finance, states that taxpayers who are prohibited from disposing
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UK: Budget scheduled for 26 November 2025
UK’s Chancellor sets Budget for 26 November, highlighting key economic and social measures. Today, Wednesday 3 September, UK Chancellor Rachel Reeves confirmed that the Budget will be presented on Wednesday, 26 November. In a video message,
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US: Colorado ends federal pass-through deduction link, cracks down on tax havens to balance “one big beautiful bill” effects
Colorado will implement tax reforms, including decoupling from the federal 20% pass-through deduction and expanding tax haven jurisdictions, to address corporate tax loopholes and generate nearly USD 250 million in revenue. Colorado, under
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EU: Tax Working Party to review tobacco tax directive reforms
The indirect taxation subgroup addresses taxation issues, including VAT, excise duties, energy taxation, financial transaction tax, and administrative cooperation. The Working Party on Tax Questions (Indirect Taxation), a preparatory body of the
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Australia: ATO issues updated monthly foreign exchange rates for the 2025–26 income year, covering August 2025
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 August 2025. The ATO has updated its foreign exchange rate guidance, which includes monthly
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Finland: Government announces 2026 budget measures
The 2026 budget proposal includes reduced corporate tax rates, tightened crypto reporting requirements, adjusted VAT rates, and cuts to CO2 fuel taxes, as well as increased taxes on vehicles, tobacco, alcohol, and soft drinks. Finland’s
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New Zealand: IR initiates consultation on shortfall penalty guidance updates
The deadline for sending comments in 31 October 2025. New Zealand’s Inland Revenue (IR) has launched a consultation on 29 August 2025 regarding the update and replacement of the existing interpretation statements on the shortfall penalties for
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Ireland: Revenue issues revised guidance on engaging experts for R&D tax credit audit
Irish Revenue updates guidance on appointing independent experts for R&D tax credit audits, reflecting the new panel effective 8 August 2025 and its two-year term. Irish Revenue released eBrief No. 165/25 on 28 August 2025, announcing
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Poland moves to centralise tax ruling publications
The draft, published 1 September 2025 for a 7-day public consultation, will apply to rulings from early 2025 and take effect three months after publication. Poland’s Ministry of Finance and Economy proposed a draft amendment (ref. UDER91) to
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Colombia: MoF proposes major tax reforms for 2026 budget
The proposed 2026 budget legislation introduces significant reforms to corporate surtax, VAT, personal income tax, net wealth tax, and capital gains tax, with new tax rules for crypto-asset transactions. Colombia’s Ministry of Finance submitted
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Poland: Government adopts 2026 budget law, increases corporate tax for banks
The draft 2026 budget law increases the corporate tax rate for the banking sector, a rise in the VAT exemption threshold from PLN 200,000 to PLN 240,000, and a 15% hike in excise rates on alcoholic beverages. Poland's government has adopted the
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Algeria launches UNCTAD eTrade Readiness Assessment to strengthen small business growth
Algeria initiated the UNCTAD’s eTrade Readiness Assessment to strengthen small enterprises and advance regional integration. Micro, small and medium-sized enterprises (MSMEs), the backbone of Africa’s economy, continue to face persistent
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Turkey: Revenue Administration issues guidance on sports sponsorship tax
The guide outlines sponsorship expenses, eligible areas, agreement essentials, distinctions from advertising, documentation, tax deductions, professional versus amateur sports, and VAT applications. Turkey's Revenue Administration announced the
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Zambia: ZRA advocates compliance through trust-based approach
The ZRA hosted a cooperative compliance conference from 25 to 27 August to promote trust-based initiatives for improved trade facilitation and tax compliance. The Zambia Revenue Authority (ZRA) announced on 27 August 2025 that it is hosting a
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EU: Commission consults CBAM methodology, certificate adjustments, third-country carbon price deductions
Stakeholders are encouraged to provide feedback on this initiative until 25 September 2025. The European Commission initiated a consultation on 28 August 2025 to gather the opinions of all stakeholders on the rules on the methodology for
See MoreEU moves to cut tariffs under trade deal with US
These steps contribute to restoring stability and predictability in EU-US trade and investment relations, to the benefit of business, workers and citizens. On 28 August 2025, the European Commission presented two proposals to advance the
See MoreEU urges stricter customs oversight on non-compliant goods
The EU Commission’s report highlighted that customs authorities have improved in intercepting non-compliant goods; however, e-commerce growth has outpaced enforcement, with 13 items per million refused entry in 2024 due to safety or compliance
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Singapore: IRAS updates guidance on completing GST form F5
The update provides detailed, box-by-box guidance for filling out Form GST F5, the standard form used for reporting GST. The Inland Revenue Authority of Singapore (IRAS) has released revised instructions for completing GST returns. The update
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