Sunday, June 07, 2026
Belgium’s parliament passed legislation on 18 December 2025, proposed by multiple Members of Parliament, to introduce changes to the refund of withholding tax and to raise the tax on credit institutions. The legislation aims to update the 1992 Income Tax Code, specifically regarding procedures for reclaiming certain withholding taxes. Additionally, the bill introduces formal adjustments...
China will impose provisional duties ranging from 21.9% to 42.7% on dairy products imported from the European Union, with most exporters facing rates just under 30%. The measures, effective from 23 December 2025, apply to products such as unsweetened milk and cream, as well as fresh and processed cheeses. China’s Ministry of Commerce said its...
Germany ’s Federal Council (Bundesrat) approved a bill (Gesetz zur Anpassung des Mindeststeuergesetzes und zur Umsetzung weiterer Maßnahmen) on 19 December 2025 amending the country’s Pillar 2 minimum taxation framework. The bill updates the German Minimum Tax Act to incorporate the OECD Pillar 2 country-by-country (CbC) reporting safe harbour rules set out in the December...
On 21 December 2025, during a meeting of the Supreme Eurasian Economic Council in Saint Petersburg, representatives from Russia and Indonesia signed a Free Trade Agreement (FTA). This announcement was made on 21 December 2025. The FTA provides Russian businesses with preferential access to Indonesia, the world’s fourth most populous country. According to Russian Minister...
The Keelung Customs Office has urged importers to honestly declare the transaction prices of imported goods and provide authentic invoices to avoid penalties. The warning follows several recent cases in which importers were found to have misreported the value of imported goods, violating Article 37, Paragraph 1, Subparagraph 3 of the Customs Anti-Smuggling Act. Keelung...
Austria’s Federal Council (Bundesrat) approved a bill on 18 December 2025 implementing Amending Directive to the 2011 Directive on Administrative Cooperation (2023/2226) (DAC8). DAC 8 introduces the automatic sharing of information on crypto-assets among EU member states. It represents the eighth update to the Directive on Administrative Cooperation in Direct Taxation. The Directive establishes procedures...
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 Russia’s benchmark interest rate is applied in calculating interest deductions and...
Bangladesh’s High Commissioner/Ambassador, HE Md. Iqbal Hussain Khan, met Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), reaffirming relations between the two countries. Both sides agreed to strengthen bilateral trade and economic cooperation and to review the existing Double Taxation Treaty in line with evolving global standards. A high-level delegation from the...
Germany’s Federal Council (Bundesrat) approved a regulation implementing the country’s minimum taxation law on 19 December 2025. The rule applies to multinational enterprise groups that report effective tax rates across jurisdictions under Germany’s Minimum Tax Act, which enacts the Pillar 2 global minimum tax framework. The regulation introduces new provisions detailing the specific design and...
The US Internal Revenue Service (IRS) Whistleblower Office announced on 19 December 2025 that it is making it easier for whistleblowers to report tax noncompliance to the IRS with the launch of the new digital Form 211, Application for Award for Original Information. With the launch of digital Form 211, individuals can now quickly and...