Sunday, May 17, 2026
The OECD announced, on 4 December 2025, that 26 jurisdictions have committed to implementing the new international framework for the automatic exchange of information on offshore real estate. This milestone marks a significant expansion of global tax transparency, extending automatic reporting beyond financial accounts and crypto-assets to real estate holdings, transactions, and related income. The...
The Italian Revenue Agency has clarified, on 5 December 2025, that fully finished modular homes, ready to be lived in and complete with utilities and finishes, are considered real estate and are generally exempt from VAT. VAT applies only if the selling company qualifies as a construction company, in which case reduced rates of 4%...
Italy’s Council of Ministers announced that it has approved the Legislative Decree implementing the Amending Directive to the 2011 Directive on Administrative Cooperation (2023/2226)(DAC8) on 4 December 2025. The new provisions align with the requirements set out in Law No. 91 of 13 June 2025 (the European Delegation Law 2024). The measure implements the DAC8...
The new income tax treaty between Malaysia and Russia entered into force on 3 September 2025. The agreement covers Malaysian income tax and petroleum income tax, as well as Russian corporate profit and individual income taxes. Withholding tax rates are set at: Dividends: 10% withholding tax if a company owns at least 25% of the...
Montenegro’s government approved the draft law to ratify the income and capital tax treaty with Liechtenstein on 4 December 2025. Liechtenstein and Montenegro signed an income and capital tax treaty on the sidelines of the 80th session of the UN General Assembly in New York on 25 September 2025. The treaty follows the latest international...
The OECD announced the release of its report, Public Trust in Tax 2025: Asia and Beyond, on 4 December 2025. Public trust in tax remains strongest in Asia—particularly South-East Asia—and the Anglophone Pacific (Australia, Canada, New Zealand), driven by digital access and transparency. In contrast, Europe and Latin America show less confidence in the fiscal...
Uzbekistan’s Ministry of Economy and Finance has announced the Budget and Tax Policy for 2026 to 2028 on 26 November 2025. A cornerstone of the forthcoming tax strategy is the consistency of the primary ad valorem tax rates, providing predictability for enterprises navigating the next three-year horizon. The sources confirm that the standard base corporate...
The Australian Taxation Office published Practice Statement Law Administration PS LA 2025/2, Public country-by-country reporting exemptions, on 8 December 2025. The statement sets out the administrative approach to the Commissioner’s discretion for granting a full or partial exemption from Public country-by-country reporting obligations for a reporting period. ATO has considered the feedback received during consultation...
Algeria’s General Directorate of Taxes has introduced a new online service allowing vehicle and truck owners travelling to neighbouring countries to pay the fuel consumption tax via the “Tabioucom” platform. The service enables users to pay the tax and receive the corresponding receipt online, eliminating the need to visit tax offices. Payment can be made...
The UK Parliament is currently reviewing the Finance (No. 2) Bill (Bill 342 for 2024–26), which was introduced to the House of Commons on 4 December 2025. The bill has completed its first reading and outlines the key tax and financial measures announced in the 2025 Budget delivered on 26 November by Chancellor Rachel Reeves....