Monday, April 27, 2026
Belgium’s Council of Ministers has approved in second reading a draft bill introducing a tax on capital gains from financial assets, following a proposal by Finance Minister Jan Jambon. This announcement was made on 12 December 2025. The capital gains tax applies under both the personal income tax and the corporate income tax, with a...
Luxembourg’s Chamber of Deputies adopted the 2026 Budget on 17 December 2025 in its first reading, setting out a broad package of tax measures aimed at strengthening household purchasing power, bolstering economic competitiveness, and accelerating the country’s energy transition. The budgetary plan outlines a comprehensive suite of tax measures designed to support household purchasing power,...
Oman issued the Royal Decree No. 105/2025 on 14 December 2025 ratifying the income tax treaty with Iraq. Iraq and Oman signed the income and capital tax treaty on 3 September 2025. The agreement aims to eliminate double taxation and prevent fiscal evasion. It will take effect once the ratification instruments have been exchanged and...
The UK issued the Double Taxation Relief and International Tax Enforcement (Peru) Order 2025 on 10 December 2025, confirming the ratification of its income and capital tax treaty with Peru. The agreement seeks to eliminate double taxation and safeguards against tax evasion, avoidance, and treaty shopping, along with provisions to address treaty abuse, prevent artificial...
Hong Kong’s Inland Revenue Department announced, on 16 December 2025, that Hong Kong and Norway had signed a comprehensive income tax treaty aimed at preventing double taxation and promoting cross-border investment. Under the agreement, the covered Hong Kong taxes are profits tax, salaries tax and property tax. On the Norwegian side, the treaty applies to...
The income and capital tax treaty between Andorra and Romania, signed on 27 September 2024, officially entered into force on 11 December 2025. The treaty addresses a range of taxes, including Andorran corporate and personal income taxes, taxes on non-resident income, Romanian income tax, and profit tax. Under the agreement, withholding tax rates have been...
Taiwan’s Ministry of Finance has clarified on 5 December 2025 that foreign e-commerce providers selling to Taiwanese companies may qualify for reduced or exempt withholding tax under applicable tax treaties. To claim benefits, providers must submit an official application with supporting documents, and any tax withheld before approval can be refunded afterwards. Overseas e-commerce businesses...
South Africa’s National Treasury and the Revenue Service (SARS), on 11 December 2025, published a draft notice outlining requirements for unlisted companies to qualify as real estate investment trusts (REITs). The rules follow the 2024 Taxation Law Amendment Act, which expanded the REIT definition to include unlisted South African companies that meet specific criteria set...
The OECD has issued a report calling on 26 countries to improve how they provide tax rulings, which help authorities assess risks and tackle base erosion and profit shifting. In total, the organisation made 46 recommendations to improve these processes. Meanwhile, 113 other countries were found to fully comply with the OECD’s minimum standard for...
Lithuania’s State Tax Inspectorate (VMI) adopted amendments to Order No. VA-95 on 12 December 2025, which regulates reporting of platform-based activities. The changes implement requirements under the Amending Directive to the 2011 Directive on Administrative Cooperation (2021/514) (DAC7). The amendments align DAC7 reporting with the latest Amending Directive to the 2011 Directive on Administrative Cooperation...