Saudi Arabia: ZATCA urges taxpayers to benefit from fines cancellation scheme
ZATCA urged taxpayers to use its fines and penalties exemption scheme before 31 December 2025. The Saudi Zakat, Tax and Customs Authority (ZATCA) has urged all taxpayers to leverage from the “Cancellation of Fines and Exemption of Penalties
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Hong Kong, Rwanda sign income tax treaty
The agreement aims to prevent double taxation and foster economic cooperation between the two jurisdictions. Hong Kong and Rwanda signed an income tax treaty on 9 October 2025. The agreement aims to prevent double taxation and foster economic
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Azerbaijan, Oman to establish income tax treaty
Any resulting income tax treaty will be the first between the two nations. Officials from Azerbaijan and Oman convened on 8 October 2025 to explore opportunities for strengthening economic and investment ties, as reported by the Oman News
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Tax treaty between Croatia, Saudi Arabia enters into force
The treaty applies to Croatian profit tax, income tax, local income tax, and any related surcharges, as well as to Saudi income tax and Zakat. The Income and Capital Tax Treaty between Croatia and Saudi Arabia, signed on 4 December 2024, entered
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Belgium, Kenya sign income tax treatyÂ
Representatives from Kenya and Belgium have signed a tax treaty aimed at eliminating double taxation and preventing tax evasion for individuals and businesses operating between the two countries. The agreement was signed on Tuesday, 30 September
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South Africa signs up for GIR MCAA
South Africa has signed the GIR MCAA, becoming the 21st jurisdiction to align multinational reporting with the OECD’s GloBE Rules.. According to an OECD update released on 8 October 2025, South Africa signed the Multilateral Competent Authority
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Kenya: Central Bank lowers key policy rate to 9.25%Â
The benchmark lending rate has been lowered from 9.50% to 9.25%. Kenya's central bank, Central Bank of Kenya (CBK), has reduced the Central Bank Rate (CBR) for the eighth consecutive time by 25 basis points to 9.25% from 9.50% on 7 October
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Israel consults draft law on domestic top-up minimum tax draft
Ministry of Finance initiated a public consultation on draft legislation introducing a domestic top-up minimum tax, set to apply from 1 January 2026 to Israeli-resident entities in multinational groups with global revenues of EUR 750 million or
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Turkey consults Pillar 2 global minimum tax implementation
The consultation is set to conclude on 27 October 2025. The Turkish Revenue Administration released a draft General Communiqué for public consultation, setting out the framework for implementing the Pillar 2 Global Minimum Tax (GMT) on 3 October
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Angola: AGT delays rollout of mandatory e-invoicing to December 2025
From 1 October to 31 December 2025, a transition period will allow taxpayers to continue issuing invoices in traditional formats without facing penalties. Angola’s General Tax Administration (AGT) announced on 30 September 2025 that it had
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Bahrain, Iceland join Vienna treaty convention
Bahrain and Iceland joined the 1969 Vienna Convention in September 2025. Bahrain and Iceland have formally joined the 1969 Vienna Convention on the Law of Treaties. The countries deposited their instruments of accession on 24 and 25 September
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UAE: MOF announces framework, implementation schedule of nationwide e-invoicing system
The system will apply to all business-to-business (B2B) and business-to-government (B2G) transactions, unless specifically excluded. Business-to-consumer (B2C) transactions are not subject to the requirements. Both issuers and recipients of invoices
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Chile: SII revises UAE’s status on its preferential tax regimes listÂ
This resolution repeals Resolution Ex. SII No. 61-2025, which had set 1 June 2023 as the removal date, and confirms that the UAE is not considered to have a preferential tax regime under the Income Tax Law (LIR). Chile’s tax administration
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US: IRS extends filing, payment deadlines for taxpayers impacted by ongoing conflict in Israel
IRS is providing separate but overlapping relief to taxpayers who may be unable to meet a tax-filing or tax-payment obligation, or may be unable to perform other time-sensitive tax-related actions. The US Internal Revenue Service (IRS) announced,
See MoreSaudi Arabia: ZATCA sets criteria for 24th wave of e-invoicing integration
ZATCA clarified that it will notify all businesses in the 24th group to prepare for linking and integrating their e-invoicing systems with the Fatoora system by 30 June 2026. The Zakat, Tax and Customs Authority (ZATCA) has defined the criteria
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Zambia: Government presents 2026 budget, proposes VAT refund incentives for energy sector
The national budget for 2026 proposes amendments to key tax laws to enhance revenue, provide targeted relief, promote equity, support economic formalisation, and align with international standards. Zambia’s Minister of Finance and National
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Liberia introduces road fund levy on petroleum imports
All fuel imports in Liberia are now subject to a Road Fund Levy and taxes. The Commissioner of Customs issued a public notice on 17 September 2025, directing the Liberia Revenue Authority (LRA) to begin collecting the road fund levy of USD 0.30
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UAE: Federal Tax Authority clarifies corporate tax rules for family wealth structures
The clarification explains how corporate tax applies to entities commonly found in family wealth management setups, such as Family Foundations, holding companies, Special Purpose Vehicles (SPVs), SFOs, and MFOs, as well as the family members
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