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
See More
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
See More
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
See More
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
See More
Bahrain: Cabinet approves fiscal reforms, introduces 10% profit tax
Bahrain’s Cabinet approved a package of fiscal and economic measures aimed at curbing government spending, increasing revenues and safeguarding key subsidies, following a Cabinet meeting chaired by Crown Prince and Prime Minister Prince Salman bin
See More
Turkey to cut digital services tax rate in phases
Turkey has reduced its digital services tax (DST) with the publication of Presidential Decree No. 10767 in the Official Gazette (No. 33118) on 25 December 2025. The decree lowers the DST rate from 7.5% to 5% starting 1 January 2026 and further to
See More
Taiwan: Profit-Seeking enterprises must submit tax return attachments by deadline
Taiwan's Ministry of Finance (MOF) has reminded profit-seeking enterprises with a special fiscal year to submit all required attachments when filing profit-seeking enterprise income tax returns, except for those exempt under relevant
See More
Hong Kong: IRD adjusts interest on tax reserve certificates
The Hong Kong Inland Revenue Department (IRD) announced, on 24 December 2025, that starting from 5 January 2026, the new annual rate of interest payable on Tax Reserve Certificates will be 0.2417% against the current rate of 0.2583%, i.e. the new
See More
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
See More
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
See More
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
See More
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,
See MoreTaiwan: 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
See More
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,
See More
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
See More
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
See More
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
See More