South Africa: SARS updates average exchange rates for major currencies
The South African Revenue Services (SARS) released updated Average Exchange Rates on 5 December 2025, providing essential data for calculations. The update includes rates for the Australian dollar, Canadian dollar, Euro, Hong Kong dollar, Indian
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UK: HMRC publishes guidance on transferring a business out of a company
The UK’s HM Revenue & Customs (HMRC) has published a guidance, on 1 December 2025, for business owners on how to disincorporate a company and continue running its business directly, either as a sole trader or partnership. The guidance also
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OECD reports labour taxes push 2024 tax revenues to all-time peak
The OECD released its report Revenue Statistics 2025 on 9 December 2025. Data on government sector receipts, especially taxes, are essential inputs for most structural economic descriptions and analyses and are increasingly used in cross-country
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Argentina: ARCA publishes FAQs on electronic tax address notifications
Argentina’s tax and customs agency (ARCA) has released frequently asked questions on electronic tax address notifications on 9 December 2025. The Electronic Tax Address is a secure and free virtual mailbox that replaces the physical address for
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Poland: Council of Ministers approves draft Crypto-Assets Market Act
Poland’s Council of Ministers has adopted the draft act on the crypto-assets market on 8 December 2025, which is identical to the draft legislation passed by the Sejm (lower house of the parliament) on 7 November 2025. The Act ensures the
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Thailand submits initial accession memorandum toward OECD membership
The OECD announced that Thailand submitted its initial accession memorandum on 8 December 2025, marking the start of the technical phase of the accession process. Thailand reaches key milestones in OECD accession process On 8 December 2025,
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Algeria gazettes mutual assistance convention
Algeria published in the Official Gazette the decree ratifying the OECD–Council of Europe Convention on Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention) as amended by the 2010 protocol on 30 November
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Finland: Parliament approves amendments to business tax, asset valuation law
Finland’s parliament (Eduskunta) has approved Bill No. HE 125/2025 vp on 25 November 2025, introducing amendments to the Business Income Tax Act and the Valuation of Assets in Taxation Act, along with temporary changes to the Income Tax
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Israel: Cabinet approves 2026 state budget amid controversy
The Israeli cabinet approved the 2026 state budget on 5 December 2025 after prolonged negotiations and internal disputes over allocations. The key tax measures and policy changes are as follows: Corporate and Banking Taxes New measures
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Cameroon: Parliament adopts Finance Act for 2026, introduces significant economic presence (SEP) standard
Cameroon’s Parliament has adopted the 2026 Finance Act on 26 November 2025, introducing tax measures from the 2026 Budget designed to expand the country’s fiscal base and strengthen revenue mobilisation. The legislation establishes a new
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UAE: MoF issues new resolution outlining fines for electronic invoicing non-compliance
The UAE’s Ministry of Finance has announced the issuance of Cabinet Resolution No. (106) of 2025, which establishes violations and administrative fines for non-compliance with legislation governing the Electronic Invoicing System. The measure
See MoreOECD: 26 jurisdictions agree to enforce international tax transparency on offshore real estate
The OECD announced, on 4 December 2025, that 26 jurisdictions have committed to implementing the new international framework for the automatic exchange of information on offshore real estate. This milestone marks a significant expansion of global
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OECD publishes 2025 public trust in tax report
The OECD announced the release of its report, Public Trust in Tax 2025: Asia and Beyond, on 4 December 2025. Public trust in tax remains strongest in Asia—particularly South-East Asia—and the Anglophone Pacific (Australia, Canada, New
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Uzbekistan outlines 2026–28 budget and fiscal plan, proposes higher corporate income tax
Uzbekistan's Ministry of Economy and Finance has announced the Budget and Tax Policy for 2026 to 2028 on 26 November 2025. A cornerstone of the forthcoming tax strategy is the consistency of the primary ad valorem tax rates, providing
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Algeria launches online service for fuel consumption tax payments
Algeria’s General Directorate of Taxes has introduced a new online service allowing vehicle and truck owners travelling to neighbouring countries to pay the fuel consumption tax via the “Tabioucom” platform. The service enables users to pay
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UK: Parliament considers Finance Bill containing 2025 budget proposals
The UK Parliament is currently reviewing the Finance (No. 2) Bill (Bill 342 for 2024–26), which was introduced to the House of Commons on 4 December 2025. The bill has completed its first reading and outlines the key tax and financial measures
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Taiwan: Southern National Taxation Bureau outlines tax treaty relief for overseas e-commerce operators
Taiwan’s Southern National Taxation Bureau has reminded domestic enterprises that overseas e-commerce operators may qualify for tax reduction or exemption on business profits under comprehensive tax treaties, provided they meet the required
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New Zealand: Inland Revenue consults shareholder loans
New Zealand Inland Revenue launched a public consultation on 4 December 2025 on the taxation of company loans to shareholders. The consultation proposes a new 12-month time limit, under which certain shareholder loans would be treated as
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