Tuesday, February 03, 2026
Denmark’s Economic Council Chairmanship released its 2025 environmental economic report on 9 December 2025, highlighting that taxes on greenhouse gas emissions are a more cost-effective and precise tool for promoting the green transition than differentiated value added tax (VAT) rates. The report, part of the Council’s annual review of Economics and Environment, covers several policy...
The US IRS Criminal Investigation released its Fiscal Year 2025 Annual Report PDF on 11 December 2025, showcasing banner investigative results fueled by new partnerships and innovative financial investigative techniques. The report details how IRS-CI’s approximately 3,000 employees worked to safeguard the global financial system and identify USD 10.59 billion in financial crimes during FY25,...
The Austrian Parliament National Council (Nationalrat) passed the draft legislation to implement the Amending Directive to the 2011 Directive on Administrative Cooperation (DAC8, 2023/2226) on 10 December 2025. The bill now awaits final approval from the Federal Council (Bundesrat). The legislative proposal focuses on introducing the Betrugsbekämpfungsgesetz 2025 Teil Daten (Fraud Prevention Act 2025 Part...
The European Commission issued a formal notice to Luxembourg on 11 December 2025, urging the country to end discriminatory tax treatment on dividends from public investments in its December 2025 infringements package. Taxation Letter of formal notice Commission calls on Luxembourg to eliminate a discriminatory tax treatment of dividends from public investments The European Commission...
The Italy–Libya income tax treaty of 2009 entered into force on 10 December 2025, following the exchange of ratification instruments, as confirmed by a memorandum of understanding signed in Tripoli on the same day. Signed on 10 June 2009, this tax treaty is the first between the two countries and is intended to promote economic...
Zambia’s Revenue Authority (ZRA) announced that Zambia had signed the Yaoundé Declaration on International Tax Co-operation and the fight against Illicit Financial Flows (IFFs) in Africa on 4 December 2025. ZRA Commissioner General Dingani Banda submitted Zambia’s signed Yaoundé Declaration on international tax co-operation and fight against IFFs in Africa dated 28th November 2025 on...
Tunisia has published the Finance Law for 2026 (Law No. 2025-17) in the Official Gazette on 12 December 2025, setting out a wide-ranging package of tax and fiscal measures aimed at strengthening public finances while supporting targeted sectors of the economy. The law introduces new sector-specific contributions and a progressive wealth tax, alongside reliefs for...
UK’s HM Revenue & Customs (HMRC) published draft guidance on 10 December 2025 setting out the framework for the advance tax certainty service, due to formally launch in July 2026. The guidance reflects the position during the first year of the policy and is subject to change in line with the parliamentary process of the...
The EU’s Economic and Financial Affairs Council (ECOFIN) met in Brussels on 12 December 2025, where EU finance ministers discussed financial market integration, simpler regulation, and economic governance. At the ECOFIN meeting, EU finance ministers agreed to abolish the customs duty exemption for e-commerce shipments valued under EUR 150. In its place, the EU will...
The Turkish government has revised exemptions under the upcoming individual income tax (IIT) real taxation regime through Presidential Decision No. 10679, published on 11 December 2025. The change updates population thresholds for settlements that were previously covered by Presidential Decision No. 10380. Under the earlier 2025 decision, businesses in districts within metropolitan municipalities had to...