OECD report highlights AI applications in tax administration
The OECD released a report analysing trends, challenges, and policies in public-sector AI use across 11 core government functions, with a particular focus on tax administration. The OECD released a report titled “Governing with Artificial
See More
Uzbekistan: Parliament considers proposal to implement Islamic banking
The draft law will provide a legal framework for Islamic banking in Uzbekistan, enabling the establishment of Islamic banks and windows, curbing the hidden economy, and attracting foreign investment in line with international Islamic finance
See More
US: Federal Reserve reduces benchmark rates to 4.00%-4.25%
The Federal Reserve cut interest rates by 0.25%, which brings the benchmark rate to 4.00%-4.25%. The US Federal Reserve has reduced interest rates on Wednesday, 17 September 202, for the first time since December in response to concerns about
See More
Indonesia: Central bank again cuts interest rate to 4.75%
Bank Indonesia (BI) previously cut its benchmark interest rate by 25 basis points to 5.00% on 20 August 2025. Indonesia's central bank, Bank Indonesia (BI), has announced its sixth interest rate cut since starting its easing cycle in September
See More
Hong Kong: HKMA cuts interest rate to 4.50%
The Hong Kong Monetary Authority (HKMA) cut its base rate by 25 basis points to 4.50%, following the US Federal Reserve’s move. Hong Kong's central bank, the Hong Kong Monetary Authority (HKMA), has reduced its base interest rate by 25 basis
See More
Canada: Central bank cuts interest rate to 2.50%
Bank of Canada lowered interest rate amid economic slowdown Canada’s central bank, the Bank of Canada, lowered its key interest rate by 25 basis points to 2.50% on Wednesday, 17 September 2025, marking its first rate cut since March. The
See More
Sri Lanka: IRD issued notice on ATPS tax credit verification
IRD urged taxpayers to check 2020–21 ATPS credits. The Sri Lankan Inland Revenue Department (IRD) issued a Notice No. PN/PYMT/2025-01 on 10 September 2025, called on taxpayers to verify tax credits linked to payments made under the
See More
Greece: AADE announces B2B e-invoicing launch for large businesses
Greece set B2B e-invoicing mandatory from February 2026 with early adoption incentives. The Greek Public Revenue Authority (AADE) announced the official dates when businesses must start issuing electronic invoices (e-invoices) for
See More
Lebanon: Government tables 2026 budget law draft, introduces amendments to corporate income tax
Lebanon submitted its 2026 Draft Budget Law to the Council of Ministers, proposing wide-ranging reforms across corporate tax, VAT, customs, excise duties, digitalisation, and tax incentives, including stricter deduction rules, and targeted
See More
Russia: Bank of Russia reduces key interest rate
Further decisions on the key rate will be made depending on the sustainability of the inflation slowdown and the dynamics of inflation expectations. The Bank of Russia announced, on 12 September 2025, a cut to the key interest rate by 100 basis
See More
EU: US framework GILTI, Net CFC Tested Income regimes to operate alongside Pillar 2
The EPRS "At a Glance" note (15 September 2025) reports that under the G7 Statement, US-parented groups will be excluded from Pillar 2’s IIR and UTPR, with US GILTI and Net CFC Tested Income rules applying alongside the global minimum tax
See More
Netherlands: Government presents 2026 budget, outlines main tax measures
The plan introduces technical updates and minor adjustments to income tax, wage tax, corporate tax, motor vehicle tax, heavy vehicle tax, and environmental taxes. The Dutch government unveiled the 2026 Budget along with the Tax Plan on 16
See More
Oman: OTA launches tax refund services on e-portal for embassies, diplomats
This initiative aligns with Article 87 of the VAT Law and Article 37 of the Excise Tax Law, granting embassies and diplomatic missions the right to request refunds on qualifying goods and services. The Oman Tax Authority (OTA) announced the
See More
Saudi Arabia gazettes implementing regulations for ‘White Land Tax’
The updated White Land and Vacant Real Estate Tax Law now covers undeveloped urban land and empty buildings to curb land hoarding and support sustainable urban growth. Saudi Arabia published the implementing regulations for the White Land Tax in
See More
UAE: FTA urges timely filing, payment of corporate tax to avoid penalties
The FTA explained that late submission of a Tax Return or a delay in settling the Corporate Tax Payable will result in an administrative penalty of AED 500 for each month, or part thereof, during the first 12 months, increasing to AED 1,000 for
See More
Vietnam joins global forum’s Asia initiative as 18th member
Vietnam becomes the 18th member, endorsing the Bali Declaration to strengthen tax transparency and resource mobilisation. Vietnam became the 18th member of the Asia Initiative by endorsing the Bali Declaration, a call to enhance the use of tax
See More
Peru introduces new income tax regime for agricultural sector
The new law aims to encourage investment, enhance competitiveness, and support small producers in Peru’s agricultural sector Peru published Law No. 32434 on 10 September 2025, establishing a legal framework to support the productive,
See More
Korea (Rep.): National Assembly reviews proposal to amend international tax adjustment Act
The National Assembly is reviewing a bill to update rules under the International Tax Adjustment Act. The Korea (Rep.) National Assembly has accepted Bill No. 2212654 for review on 3 September 2025, aiming to partially amend the International Tax
See More