Tuesday, February 03, 2026
Portugal’s parliament has published the final text of the 2026 State Budget Law on 12 December 2025, after it was approved by the parliament on 27 November 2025. The final version of the budget law largely mirrors the initial proposals; however, it includes the following changes: Personal Income Tax Changes Under the 2026 PIT measures,...
Estonia, along with Latvia, Lithuania, Malta, and Slovakia, submitted a joint statement to EU finance ministers on Friday, 13 December 2025, calling for fairer taxation of international companies and a reduction in administrative burdens. Finance Minister Jürgen Ligi said Estonia’s submission calls for a review of the EU minimum tax directive, requesting a six-year extension...
The South African Revenue Service (SARS) has reminded trustees and provisional taxpayers that the deadline for submitting both ITR12T trust returns and provisional tax returns is 19 January 2026. This announcement was made on 15 December 2025. SARS encourages trustees to gather all supporting documents, verify beneficiary information, and use SARS eFiling tools or online...
Belgium’s Chamber of Deputies passed legislation on 11 December 2025 to implement key elements of the government’s tax reform plan outlined in April 2025 targeting investment company share gains. The main measures include: Introducing a separate 5% tax on capital gains from the sale of shares in certain investment companies that are generally exempt under...
Vietnam’s National Assembly approved an amended Personal Income Tax Law on 10 December 2025, introducing changes to the country’s tax structure. The legislation reduces the number of tax brackets from seven to five. The new monthly taxable income rates are as follows: Monthly Taxable Income (VND) Tax Rate (%) Up to 10 million 5 Over...
The Inland Revenue Board of Malaysia published Public Ruling No. 4/2025 on 28 November 2025, which explains the requirements to notify the Director General of Inland Revenue (DGIR) on any change of accounting period by a company, limited liability partnership, trust body or co-operative society, which has to make payment by instalments on an estimate...
The UK issued the Double Taxation Relief and International Tax Enforcement (Andorra) Order 2025 on 10 December 2025. This enabled ratification of the income and capital tax treaty with Andorra. Signed on 20 February 2025, the treaty is the first of its kind between Andorra and the UK. It takes effect in Andorra from 1...
The Central Bank of Azerbaijan (CBA) announced, on 10 December 2025, that it has lowered its policy (key) rate by 0.25 percentage points to 6.75%. The interest rate corridor was also adjusted, with the lower bound set at 5.75% and the upper bound at 7.75%. This decision was made taking into account inflation trends, global...
Austria’s National Council (Nationalrat) approved the amending protocol to the tax treaty with Kuwait on 10 December 2025. It will take effect on the first day of the third month after the ratification instruments are exchanged and will apply from 1 January of the following year. Earlier, Austria and Kuwait signed an amending protocol to...
Finland submitted an updated consolidated position for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI), as noted by the OECD on 11 December 2025. This update includes two specific corrections regarding Finland’s 1996 tax treaty with Brazil and the application of MLI Article 16, which governs the Mutual Agreement Procedure...