OECD releases inclusive framework report reviewing a decade of BEPS progress
The report highlights how the BEPS Project reshaped global tax standards by promoting corporate transparency, strengthening cooperation among tax authorities, and improving tax certainty through unified international rules. The OECD’s Inclusive
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Italy: MoF presents draft budget plan for 2026-28
Italy’s 2026 budget introduces a new three-year tax credit for businesses in SEZs, extends plastic, sugar, and tourist tax exemptions until 2026, allocates EUR 100 million for SLZs, and refinances the Nuova Sabatini incentive. Italy’s
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OECD releases Secretary-General tax report to G20 finance ministers, central bank governors
This report sets out recent developments in international tax co-operation, including the OECD’s support of G20 priorities such as the implementation of the BEPS minimum standards, the Two-Pillar Solution to Address the Tax Challenges Arising from
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Algeria presents draft finance bill for 2026 in parliament
The 2026 draft Finance Bill proposes comprehensive fiscal reforms, including amendments to corporate and personal income taxes, VAT, customs and excise duties, environmental taxes, and other administrative measures. Algeria's government has
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Oman: Tax Authority introduces five-year withholding tax suspension for Omani vessels
Oman suspends withholding tax on Omani-flagged vessels to boost its maritime sector. Oman's Tax Authority has announced a five-year suspension of withholding tax on service contracts for vessels registered under the Omani flag, in a move aimed at
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Iceland consults kilometre tax bill
Iceland opened a public consultation until 24 October 2025 on a bill proposing a kilometre-based road usage tax from 1 January 2026. Iceland’s Economic Affairs and Trade Committee launched a public consultation on 6 October 2025 regarding the
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Kazakhstan: NBK raises base interest rate
The rate is used to calculate late payment interest on overdue taxes. The National Bank of Kazakhstan (NBK) raised its base interest rate from 16.5% to 18.0%, effective from yesterday, 13 October 2025. The rate is used to calculate late payment
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European Commission enhances tax collaboration with Andorra, Liechtenstein, Monaco, San Marino
The updates enhance the existing 2015 and 2016 agreements by aligning with recent EU and international standards and expand the scope of reporting to include specific electronic money products and central bank digital currencies. The European
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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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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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