US: California pushes ahead on EV incentives amid federal rollbacks
The US state of California is moving quickly to strengthen vehicle emissions standards and expand electric vehicle (EV) incentives, even as the Trump administration dismantles federal environmental protections. This week, state officials,
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Uruguay updates incentive regimes for housing, construction projects
Uruguay issued Decree No. 353/25 on 15 January 2026, revising and consolidating existing incentive regimes for housing and construction projects. The decree updates provisions previously set out in Decree No. 329/016 of 2016 for housing and
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El Salvador announces benefits to encourage business expansions, tax credits range from 10% to 30%
El Salvador’s Legislative Assembly enacted Decree No. 498 on 16 January 2026, which took effect on 24 January 2026, with the aim to stimulate the national economy by offering tax incentives to established companies that increase their local
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US: IRS asks tax professionals to prepare for filing season
The US Internal Revenue Service (IRS) issued a notice on 29 January 2026 urging tax professionals to prepare for the upcoming filing season. “Tax professionals can play a key role in furthering the IRS’s mission to ensure taxpayers understand
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Canada consults draft legislations for corporate taxation, anti-avoidance rules and other measures
Canada’s Department of Finance launched a consultation on several draft legislative proposals to implement a range of previously announced tax measures on 29 January 2026. The proposed changes aim to clarify and improve tax rules, close gaps to
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Brazil: RFB clarifies deduction of foreign taxes paid by subsidiaries, affiliated companies
The Brazilian Federal Revenue Service (RFB) has issued Interpretative Declaratory Act RFB No. 1 of 22 January 2026, published in the Official Gazette (DOU) on 23 January 2026, providing guidance on the deduction of foreign taxes paid by subsidiaries
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US: IRS National Taxpayer Advocate releases 2025 Annual Report to Congress
The US Internal Revenue Service (IRS) released the National Taxpayer Advocate’s 2025 Annual Report to Congress on 28 January 2026, assessing IRS performance over the year and identifying potential risks for 2026. The report notes that taxpayer
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Argentina: ARCA announces 2025 personal assets tax threshold, brackets
Argentina’s tax authority (ARCA) has updated the thresholds and brackets for the personal assets tax for individuals and undivided estates for the fiscal year ending on 31 December 2025. Minimum value applicable to valuation of assets
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Chile: SII issues guidance on deductibility of payments to shareholder-employees
Chile’s tax authority (SII) recently published Ruling No. 146-2026 of 21 January 2026, clarifying the tax treatment of various expenses incurred in relation to shareholder-employees who receive remuneration from their companies. The Ruling
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Brazil clarifies withholding tax on interest paid abroad for installment purchases
Brazil has passed Law No. 15.329 of 7 January 2026, specifying the withholding tax (IRRF) rules for interest paid abroad on goods purchased in installments. The law amends Article 11 of Decree-Law No. 401 of 30 December 1968 and refers to the
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Colombia imposes temporary levy, energy contribution to support domestic electricity supply
Colombia has issued Legislative Decree No. 0044 of 21 January 2026, introducing temporary rules to ensure the continuity of domestic electricity services. The decree imposes two obligations on electricity generation companies: Parafiscal
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Chile: SII introduces VAT withholding system for non-resident sellers, digital platforms
Chile’s tax administration (SII) has published Resolution Ex. SII No. 05-2026 of 14 January 2026 on its website, outlining the tax administration’s VAT withholding system for non-resident sellers and digital platforms that have not registered
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Venezuela extends fuel tax exemptions until January 2027
Venezuela has extended a temporary exemption from VAT, customs duty, and other taxes on hydrocarbon fuels under Decree No. 5.207, published in Official Gazette No. 43.292 on 9 January 2026. The decree maintains the tax relief for the definitive
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US: IRS publishes guidance on updated federal payment processes
The US Internal Revenue Service has issued frequently asked questions in Fact Sheet 2026-02 on 27 January 2026 to help taxpayers, businesses, and other stakeholders understand the changes under Executive Order 14247: Modernising Payment To and From
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Chile: SII updates 2026 tax brackets, inflation adjustments
Chile’s tax authority (SII) has updated the annual global complementary tax brackets for the 2026 tax year. These adjustments are based on the December 2025 annual tax unit (UTA) value of CLP 834,504. These changes are formalised under Circular
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US imposes 25% tariffs on Korean imports
US President Donald Trump announced in a Truth Social post on 27 January 2026 that tariffs on Korean autos, lumber, pharmaceuticals, and other goods subject to reciprocal measures will increase from 15% to 25%. The higher rate reverses the
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Chile: SII grants relief for taxpayers affected by Ñuble, Biobío wildfires
The Chilean Tax Administration (Servicio de Impuestos Internos, SII) has announced an automatic remission of interest and fines for taxpayers impacted by the recent wildfires in the Ñuble and Biobío regions. The relief applies to late filings
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US: Trump threatens Canada with 100% tariffs
US President Donald Trump has warned that Canada could face serious consequences if it moves forward with closer trade ties with China. In a post on Truth Social on 24 January 2026, Trump said he would impose a 100% tariff on all Canadian goods
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