Monday, April 27, 2026
The Italy–Libya income tax treaty of 2009 entered into force on 10 December 2025, following the exchange of ratification instruments, as confirmed by a memorandum of understanding signed in Tripoli on the same day. Signed on 10 June 2009, this tax treaty is the first between the two countries and is intended to promote economic...
Zambia’s Revenue Authority (ZRA) announced that Zambia had signed the Yaoundé Declaration on International Tax Co-operation and the fight against Illicit Financial Flows (IFFs) in Africa on 4 December 2025. ZRA Commissioner General Dingani Banda submitted Zambia’s signed Yaoundé Declaration on international tax co-operation and fight against IFFs in Africa dated 28th November 2025 on...
Tunisia has published the Finance Law for 2026 (Law No. 2025-17) in the Official Gazette on 12 December 2025, setting out a wide-ranging package of tax and fiscal measures aimed at strengthening public finances while supporting targeted sectors of the economy. The law introduces new sector-specific contributions and a progressive wealth tax, alongside reliefs for...
UK’s HM Revenue & Customs (HMRC) published draft guidance on 10 December 2025 setting out the framework for the advance tax certainty service, due to formally launch in July 2026.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 policy and is subject to change in line with the parliamentary process of the...
The EU’s Economic and Financial Affairs Council (ECOFIN) met in Brussels on 12 December 2025, where EU finance ministers discussed financial market integration, simpler regulation, and economic governance. At the ECOFIN meeting, EU finance ministers agreed to abolish the customs duty exemption for e-commerce shipments valued under EUR 150. In its place, the EU will...
The Turkish government has revised exemptions under the upcoming individual income tax (IIT) real taxation regime through Presidential Decision No. 10679, published on 11 December 2025. The change updates population thresholds for settlements that were previously covered by Presidential Decision No. 10380. Under the earlier 2025 decision, businesses in districts within metropolitan municipalities had to...
The Dutch Tax Administration has confirmed that corporate income tax expenses or benefits relating to pre-Pillar Two financial years must be corrected when calculating adjusted covered taxes under the Minimum Tax Act 2024 (Wet minimumbelasting 2024; WMB 2024), even if those amounts are recognised after the law entered into force. The clarification was published on...
The Turkish Revenue Administration finalised the implementation rules for the Pillar 2 Global Minimum Tax (GMT) and submitted the General Communiqué to the Presidency for signature and publication. This announcement was made on 12 December 2025. The rules, approved under Law No. 7524, introduce a domestic minimum top-up tax, an income inclusion rule (IIR), and...
Thousands of people across Italy joined a nationwide strike on 12 December 2025, organised by Italy’s main union, CGIL (Italian General Confederation of Labour), to oppose the government’s proposed 2026 budget. The protest comes ahead of parliamentary debates scheduled for next week, with the budget required to receive final approval before the end of the...
Italy’s Revenue Agency issued two rulings on 11 December 2025 to clarify when the reduced 10% VAT rate may be applied in the areas of municipal waste services and construction of buildings used for educational purposes. Waste-Management Services and TARI Administration In Ruling No. 310, the Agency confirmed that only operational waste-management activities such as...