Italy announces statutory interest rate for 2026
Italy has published the Decree of 10 December 2025 in the Official Gazette, which sets a 1.6% statutory (legal) interest rate (down from 2.0%) with effect from 1 January 2026. The statutory interest rate applies to the taxation of interest income
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Russia: Central bank cuts key rate by 50 bps as Inflation pressures ease
The Board of Directors of the Bank of Russia on 19 December 2025 decided to cut the key rate by 50 basis points to 16.00% per annum, citing easing underlying price pressures and the economy’s gradual return to a balanced growth path. Bank of
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Netherlands: MoF consults proposed amendments to mutual fund regulation
The Dutch Ministry of Finance initiated a public consultation on 15 December 2025 regarding draft legislation addressing practical issues arising from the 1 January 2025 changes to the mutual fund regime for the funds for mutual account (fonds voor
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Australia: ATO announces GIC, SIC rates for Q3 2025-26
The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the third quarter of the 2025-26 income year on 9 December 2025. For the quarter commencing on 1 January 2026,
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Taiwan: Tax Bureau orders business operators to include tax in pricing, warns against extra charges
Taiwan’s Northern District National Taxation Bureau of the Ministry of Finance stated that when business operators sell goods or services, the pricing of taxable items must include business tax. In addition, uniform invoices must be issued in
See MoreRussia: Government approves list of budget expenditures using digital ruble
Russia’s government has approved a list of budget expenditures eligible for execution with the use of the digital ruble beginning in 2025. This announcement was made on 18 December 2025. The list was developed under Federal Law No. 303-FZ of
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Australia to implement crypto-asset reporting framework (CARF) from 2027
The Australian government announced in its Mid-Year Economic and Fiscal Outlook (MYEFO) 2025-2026 that it will implement the OECD Crypto Asset Reporting Framework (CARF) for the automatic exchange of tax relevant information on crypto assets,
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Greece: Parliament passes 2026 budget, includes PIT reliefs
The Greek Parliament passed the 2026 budget on 16 December 2025. It now awaits to be published in the Official Gazette and will take effect from 1 January 2026. The budget introduces a broad package of tax reforms aimed at easing household costs
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Brazil: Chamber of Deputies passes taxpayer defence code, targets habitual tax defaulters
Brazil’s Chamber of Deputies has approved Complementary Bill 125/2022, which creates the Taxpayer Defence Code. This framework sets out the general rights, guarantees, and responsibilities of taxpayers, as well as the procedures governing their
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UK to regulate Crypto Assets from 2027
Britain will start regulating crypto assets from October 2027, the finance ministry announced on Monday, 15 December 2025. Legislation was set to be introduced in parliament later the same day, extending existing financial rules to crypto
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Egypt: ETA issues new rules to offset tax credits against liabilities
The Egyptian Tax Authority (ETA) issued Instruction No. 46 of 2025, on Tuesday, 2 December 2025, establishing a formal procedure for registered taxpayers to offset credit balances, including VAT credits, against their outstanding tax
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Australia: ATO consults revised mining, petroleum tax guidelines
The Australian Taxation Office (ATO) has opened a public consultation regarding the revised guidance on mining and petroleum exploration expenditures and farm-out arrangements on 10 December 2025. ATO has released updates to three guidance
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Russia: Government approves budget forecast until 2042
Russia’s government has approved a decree on the Budget Forecast through 2042 on 15 December 2025. The forecast sets out the characteristics and projected values of key federal budget indicators and their expected dynamics. The Budget
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Italy introduces fiscal measures for third sector, amateur sports, VAT, business crisis procedures, digital platforms
Italy’s Revenue Agency announced that it has published Legislative Decree No. 186 of 4 December 2025 in the Official Gazette on 15 December 2025. This decree introduces a coordinated package of fiscal measures affecting the third sector, amateur
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Belgium: Parliament endorses tax reform targeting investment company share gains
Belgium’s Chamber of Deputies passed legislation on 11 December 2025 to implement key elements of the government’s tax reform plan outlined in April 2025 targeting investment company share gains. The main measures include: Introducing a
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Azerbaijan: CBA lowers key policy rate
The Central Bank of Azerbaijan (CBA) announced, on 10 December 2025, that it has lowered its policy (key) rate by 0.25 percentage points to 6.75%. The interest rate corridor was also adjusted, with the lower bound set at 5.75% and the upper bound
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US: IRS-CI releases 2025 annual report highlighting key investigations
The US IRS Criminal Investigation released its Fiscal Year 2025 Annual Report PDF on 11 December 2025, showcasing banner investigative results fueled by new partnerships and innovative financial investigative techniques. The report details how
See MoreUK: HMRC publishes draft guidance on advance tax certainty service
UK’s HM Revenue & Customs (HMRC) published draft guidance on 10 December 2025 setting out the framework for the advance tax certainty service, due to formally launch in July 2026. The guidance reflects the position during the first year of the
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