Tuesday, February 03, 2026
Bahrain’s National Bureau for Revenue (NBR) has published Version 1.5 of its VAT Real Estate Guide, dated 18 November 2025, providing updated guidance on Value Added Tax in the Kingdom’s real estate sector. The update clarifies the VAT treatment of owners’ associations. The guide states that associations performing their primary role, including managing common property...
The UK and 24 other jurisdictions have announced their intention to implement the OECD’s latest tax transparency framework for the automatic exchange of information on immovable property (real estate). This announcement was made on 4 December 2025. The Multilateral Competent Authority Agreement on Automatic Exchange of Readily Available Information on Immovable Property (IPI MCAA) is...
The Inland Revenue Authority of Singapore (IRAS) has updated e-Tax Guides concerning Income Tax Treatment of Real Estate Investment Trust Exchange-Traded Funds (Ninth Edition) on 4 December 2025. This e-Tax Guide explains the income tax treatment of a real estate investment trust exchange-traded fund (“REIT ETF”) which has been accorded the tax transparency treatment. It...
The UK has increased the taxable benefits for company cars, vans, and fuel for the 2026/2027 tax year. The changes are outlined in the Van Benefit and Car and Van Fuel Benefit Order SI 2025/1254, made on 1 December 2025. From 6 April 2026, the cash equivalent for fuel provided for a company car will...
The South African Revenue Services (SARS) released updated Average Exchange Rates on 5 December 2025, providing essential data for calculations. The update includes rates for the Australian dollar, Canadian dollar, Euro, Hong Kong dollar, Indian rupee, Japanese yen, Swiss franc, UK pound, and US dollar. The term “average exchange rate” is defined in section 1(1)...
The Florida Department of Revenue has released TIP 25C01-01 on 1 December 2025, providing explanation on how Florida’s updated static conformity to the federal Internal Revenue Code, now effective from 1 January 2025, affects corporate income tax, including required state adjustments for bonus depreciation, qualified improvement property, business meals, certain production costs, and newly enacted...
The Oman Tax Authority (OTA) has released an updated set of Frequently Asked Questions (FAQs) on e-invoicing, providing detailed guidance on the country’s electronic invoicing framework. The e-invoicing rollout, initially planned for 2024, was postponed mainly due to technical challenges. The OTA’s FAQs cover 24 key areas, including: Definition of e-invoicing Differences between paper invoices...
The Taiwan’s Taipei National Taxation Bureau of the Ministry of Finance has stated that for goods or services subject to business tax, business operators must include the tax in their pricing and issue uniform invoices for business tax reporting in accordance with regulations. This announcement was made today, 10 December 2025. The Bureau explained that...
France’s tax authority has updated its guidance on the Pillar 2 global minimum tax to clarify reporting requirements under the complementary tax regime introduced in the 2024 Finance Law on 9 December 2025. The guidance highlights the release of the GloBE Information Return (Form 2259-SD) and provides detailed instructions for in-scope multinational enterprise (MNE) groups....
New Jersey’s Division of Taxation has clarified that it will not adopt the new federal deductions introduced by the “One Big Beautiful Bill Act” (OBBBA) for Gross Income Tax (GIT) purposes. The state also clarified that the OBBBA’s changes to charitable deductions align with the state’s corporation business tax (CBT) and do not affect GIT....