Tuesday, February 03, 2026
The Organisation for Economic Cooperation and Development (OECD) published an updated list of signatories, including their signing dates, to the Multilateral Competent Authority Agreement on the Exchange of Global Anti-Base Erosion (GloBE) Information Returns (GIR MCAA) on 19 December 2025. Hungary is the latest signatory to join the GIR MCAA, which it ratified on 16...
Israel’s Ministry of Finance has proposed a temporary tax on banks’ excess profits and approved a higher tax-free import threshold in an announcement on 23 December 2025. The initiative is aimed at easing pressure on consumers but was criticised by lenders and local businesses. Israel’s Finance Minister Bezalel Smotrich said he plans to introduce legislation...
Italy has published the Decree of 10 December 2025 in the Official Gazette, which sets a 1.6% statutory (legal) interest rate (down from 2.0%) with effect from 1 January 2026. The statutory interest rate applies to the taxation of interest income as a presumed rate on loans without a written agreement. Earlier, Italy’s Ministry of...
The UK government announced on Tuesday, 23 December 2025, that it will ease its planned inheritance tax on farms, following months of nationwide protests since the 2024 announcement. From April, the threshold for individual inheritance tax relief will rise to GBP 2.5 million (USD 3.4 million) from GBP 1 million, reducing the number of farm...
Taiwan’s Central Area National Taxation Bureau of the Ministry of Finance has reminded for-profit enterprises that, from 1 July 2021, sales of real estate purchased after 1 January 2016 are subject to the Integrated Housing and Land Tax 2.0. This announcement was made on 24 December 2025. The Central Area National Taxation Bureau of the...
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...