Saudi Arabia: ZATCA issues guidance on taxation of technical, consulting services
The Saudi Zakat, Tax, and Customs Authority (ZATCA) issued a Tax Bulletin clarifying the treatment of technical and consulting services under the Income Tax Law and applicable Double Taxation Avoidance Agreements on 25 December 2025. The guidance
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Ireland: Irish Revenue introduces stamp duty exemption for certain stock transfers
On 30 December 2025, the Irish Revenue issued eBrief No. 251/25, introducing a new stamp duty exemption for certain transfers of stocks and marketable securities. The exemption applies to qualifying transfers made between 1 January 2026 and 31
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Chile: SII publishes 2026 luxury tax list
Chile’s Internal Revenue Service (SII) has issued Resolution No. 194, detailing the assets and market values for the 2026 luxury tax. The 2% annual tax applies to high-value items owned by individuals or companies in Chile. Asset Type Tax
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Taiwan: Northern District National Taxation Bureau expands mobile payment tax benefits until 2028
Taiwan’s Northern District National Taxation Bureau has announced on 5 January 2025 that the 1% business tax incentive for small-scale businesses using mobile payments or multimedia information service machines (KIOSKs) will be extended until 31
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Malta: MTCA implements EU carbon border adjustment mechanism (CBAM)
Malta’s Tax and Customs Administration (MTCA) has confirmed that the European Union’s Carbon Border Adjustment Mechanism (CBAM) will enter full operation on 1 January 2026. This announcement was made on 24 December 2025. Under the new
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Chile: SII revises lists of large taxpayers
Chile’s tax authority (SII) published Resolution Ex. SII No. 208-2025 of 30 December 2025 on its website and entered into effect on 1 January 2026. The Resolution updates the large taxpayer list, including taxpayers no longer classified as such
See MoreChile: SII launches simplified registry for subsistence taxpayers
Chile’s tax authority (SII) has issued Resolution Ex. SII No. 193-2025 of 22 December 2025, which introduces the “Registry of Small Taxpayers Developing Subsistence Activities.” This initiative aimed to simplify tax obligations for
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Malaysia: IRBM defers e-invoicing for new businesses, exempts sub-MYR 1 million revenue taxpayers
The Inland Revenue Board of Malaysia (IRBM) has released an updated guidance on 7 December 2025, where it revised the annual turnover threshold for e-invoicing. In a previous report, taxpayers with annual turnover or revenue below MYR 500,000
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Malaysia: IRBM updates ruling on tax classification for SMEs
The Inland Revenue Board of Malaysia (IRBM) released Public Ruling No. 8/2025 on 22 December 2025, providing guidance on the classification and tax treatment of micro, small, and medium-sized companies or enterprises (MSMEs), including limited
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US: IRS updates guidance on business interest deduction limits
The US Internal Revenue Service (IRS) updated the frequently asked questions in Fact Sheet 2025-09 on 23 December 2025, regarding changes to the limitation on the deduction for business interest expense (Section 163(j)) under the One, Big, Beautiful
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Montenegro: Parliament adopts BEPS MLI
Montenegro’s parliament adopted the draft law ratifying the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 27 December 2025. Once the internal ratification process is
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Hong Kong: IRD updates FAQs on mainland China tax cooperation
The Hong Kong Inland Revenue Department has released updated and new FAQs on the 2006 income tax arrangement with Mainland China, including revisions related to the determination of individual residence. Updated questions Question 1: According
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Ireland: Irish Revenue updates corporate investment relief guidance
Irish Revenue has published eBrief No. 248/25 on 22 December 2025, providing updated guidance on the various reliefs available for investments in corporate trades. The contents of Tax and Duty Manual (TDM) Part 16-00-02 Relief for Investment in
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Spain: Tax Agency unveils 2026 VAT, PIT, corporate tax measures
The Spanish Tax Agency has introduced new tax measures under Royal Decree-Law 16/2025 of 23 December 2025, published in the Official State Gazette on 24 December. The decree aims to support socially vulnerable groups and implement urgent tax and
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Korea (Rep): Ministry of Economy and Finance unveils tax incentives to boost domestic investment, FX stability
The Korea (Rep)’s Ministry of Economy and Finance announced tax support measures for domestic investment and foreign exchange (FX) stability, aimed at promoting the revitalisation of the domestic capital market and addressing structural
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US: Treasury, IRS issue final BEAT guidance on qualified derivative payments in securities lending transactions
The US Treasury Department and the Internal Revenue Service (IRS) issued final regulations in the Federal Register on 18 December 2025, outlining how qualified derivative payments (QDPs) are determined and reported in securities lending transactions
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Italy: Senate approves 2026 budget, increases taxes on banks
Italy’s government secured a decisive vote of confidence in the Senate on 30 December 2025 for its 2026 budget, winning 113 votes to 70, keeping it on track for final approval by parliament before year-end. The budget now moves to the lower
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Cyprus: Parliament passes tax reform package, introduces 120% R&D deductions
The Cyprus parliament passed a major tax reform package on 22 December 2025, introducing higher corporate taxation, expanded personal tax relief, new rules for crypto-asset income, and strengthened compliance mechanisms, alongside targeted
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