Tuesday, February 03, 2026
Russia’s Federal Tax Service (FTS) has updated the list of jurisdictions that exchange financial account information under the CRS/AEOI framework. The update was made through FTS Order No. ED-7-17/883 dated 14 October 2025, registered with the Ministry of Justice on 10 December 2025, published on 11 December 2025, and effective from 22 December 2025. The...
Denmark has gazetted the consolidated text of the Income Tax Assessment Act (Ligningsloven) on 5 December 2025. The updated Act sets out the rules for calculating taxable income and includes provisions on exemptions, deductions, and specialised tax treatments. Key measures cover exemptions for certain gifts, educational grants, and social benefits, alongside deductible expenses such as...
China’s Ministry of Finance and State Taxation Administration (STA) have announced the extension of preferential tax deduction rules for advertising and promotional (A&P) expenses on 22 December 2025 under the newly issued Announcement No. 16 of 2025. The announcement took effect on 1 January 2026 and runs through 31 December 2027. According to the announcement,...
Ghana’s tax authority, the Ghana Revenue Authority (GRA), on 31 December 2025 issued a notice to all VAT-registered taxpayers outlining the VAT reforms enacted under the Value Added Tax Act, 2025, which will take effect from 1 January 2026. Following the passage of the Value Added Tax Act, 2025 (Act 1151), which covers significant reforms...
The Inland Revenue Authority of Singapore (IRAS) has updated the list of jurisdictions with which Singapore will exchange Country-by-Country (CbC) reports under the Multilateral Competent Authority Agreement on Automatic Exchange of Country-by-Country Reports (2016) (CbC MCAA). The update was published on 2 January 2026. Under the revised list, Senegal has been added as a participating...
Germany has introduced detailed rules for filing and exchanging Global Anti-Base Erosion (GloBE) information returns for multinational enterprises under the Pillar 2 global minimum tax, as set out in the Mindeststeuer-Bericht-Verordnung (MinStBV) published in the Official Gazette on 29 December 2025. The regulation implements the Minimum Tax Act (Mindeststeuergesetz – MinStG), defining key terms, the...
The Hong Kong Inland Revenue Department (IRD) has announced that officials from Hong Kong and Oman will meet for the first round of talks on an income tax treaty from 5 to 9 January 2026. If successfully concluded, this would mark the first tax treaty between the two jurisdictions. Any agreement reached will need to...
The Trump Administration has postponed the planned 2026 tariff hikes on upholstered furniture and kitchen cabinets to 1 January 2027, according to a proclamation issued on 31 December 2025. This follows the Trump Administration’s earlier proclamation on 29 September 2025, which imposed tariffs on timber, lumber, and related wood products. Under the original measures, effective...
Chile’s tax authority (SII) has issued Resolution Ex. SII No. 193-2025 of 22 December 2025, which introduces the “Registry of Small Taxpayers Developing Subsistence Activities.” This initiative aimed to simplify tax obligations for individuals whose work primarily supports their basic livelihoods (small-scale operators, including artisans, fishermen, miners, street vendors, and similar workers). The new framework...
Argentina’s Congress approved the 2026 budget bill on 26 December 2025, marking the first budget passed since President Javier Milei took office in late 2023. The measure, which passed with 46 votes in favour, 25 against, and one abstention, outlines spending of ARS 148 trillion (around USD 102 billion) and forecasts 5% economic growth alongside...