Tuesday, March 17, 2026
Latvia’s parliament (Saeima) has adopted the 2026 State Budget on 4 December 2025. The 2026 State Budget focuses on strengthening security, supporting families, and advancing sustainability, cutting EUR 844.1 million in planned spending and redirecting those funds to deliver roughly EUR 700 million in additional investment for security, family support, and education in the coming...
The Korea (Rep.) National Assembly passed a series of budget-related amendment bills, including changes to the Corporate Tax Act that raise each of the four corporate tax brackets by 1%. Corporate Tax Rate Increase The National Assembly passed next year’s budget along with 16 associated bills, including a significant amendment to the Corporate Tax Act....
France’s tax authorities have issued detailed guidance on the application of value-added tax (VAT) to cultural, recreational, educational, and professional activities, including exhibitions, sites, installations, and associated services. The update, published on 3 December 2025, clarifies the application of reduced and standard VAT rates under Article 279 b nonies of the French General Tax Code...
Taiwanese businesses paying for electronic services from foreign e-commerce enterprises may qualify for tax relief under bilateral tax treaties. This announcement was made by the Southern Taiwan National Tax Administration (STNTA) on 5 December 2025. According to the STNTA, if payments to foreign suppliers constitute Taiwan-sourced income, domestic companies are generally required to withhold tax....
Colombia’s tax authority, DIAN, has launched a public consultation on a draft resolution that partially amends Resolution 000227 of 2025 on 3 December 2025 , which covers tax, customs and exchange matters. The amendment concerns the identification of new taxpayers required to submit fiscal reconciliation reports. Comments, observations, and suggestions on the draft will be...
Germany’s lower house of the parliament (Bundestag) approved the draft Tax Amendment Act 2025 on 4 December 2025, which introduces tax relief measures for individuals and updates several technical provisions across existing tax legislation. Key proposed measures: Income tax: Increase in commuter allowance (distance lump sum) to 38 cents per kilometre from the first kilometre....
France’s tax authorities have released a second set of guidelines on 3 December 2025 covering the application of the Pillar 2 global minimum tax (GloBE) rules for multinational and large domestic groups. The new guidance provides clarifications on transitional rules, including the calculation of deferred taxes and transferred assets during the transition year and subsequent...
Ireland’s Fiscal Advisory Council has warned that Ireland’s apparent budget surplus is heavily reliant on volatile corporation tax receipts from a small number of large multinational companies, raising concerns over the sustainability of public finances. The Fiscal Assessment Report 2025, published on 26 November 2025, criticises the government’s approach as “budgeting like there’s no tomorrow”...
Italy’s Revenue Agency clarified on 4 December 2025 that companies acquiring tax credits arising from the conversion of Deferred Tax Assets (DTA) cannot use these credits to offset or transfer them further and can only monetise them through refunds. This guidance comes in response to no. 300 of 4 December 2025, addressing a ruling request...
Italy’s Revenue Agency has introduced an important update to the VAT exemption scheme for small businesses operating across EU borders on 4 December 2025. Under the revised rules, the 35-working-day period for assigning the “EX” suffix—which allows businesses to carry out VAT-exempt transactions in other EU countries—now begins from the date the Revenue Agency receives...