US: IRS announces 401(k) and IRA contribution limits increases in 2026
The US Internal Revenue Service (IRS) announced an increase in 401(k) and IRA contribution limits for 2026 on 13 November 2025. The amount individuals can contribute to their 401(k) plans in 2026 has increased to USD 24,500, up from USD 23,500
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Brazil extends tax payment deadlines for Rio Bonito do Iguacu, Parana
Brazil’s Federal Revenue Service (RFB) has issued an Ordinance on 13 November 2025, extending the deadlines for the payment of federal taxes, including instalment payments, and fulfilling ancillary obligations. The measure also suspends
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Ecuador: SRI extends October VAT, withholding tax declaration deadlines
The Director General of the Servicio de Rentas Internas (SRI) has issued Resolution NAC-DGERCGC25-00000036 on 6 November 2025, extending deadlines for Value Added Tax (VAT) and Withholding Tax declarations for October 2025. The measure responds
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Mexico gazettes 2026 economic package, e-invoicing reforms
Mexico’s government has published a series of decrees introducing the 2026 Federal Revenue Law and extensive reforms to the Federal Tax Code, Special Tax on Production and Services (IEPS), and digital platform taxation. The measures, announced
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Argentina submits Initial Memorandum for OECD accession
The OECD announced, on 11 November 2025, that Argentina has officially submitted its Initial Memorandum for OECD accession to Secretary-General Mathias Cormann on the occasion of OECD Secretary-General Mathias Cormann’s visit to Buenos Aires,
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US: Government shutdown ends, IRS to be fully operational
The US House of Representatives passed H.R. 5371 on 10 November 2025, to fund the federal government through 30 January 2026, ending the longest government shutdown in history and allowing furloughed IRS employees, as of 8 October 2025, to return to
See MoreBrazil: RFB extends deadline for tax settlement programs
Brazil’s Federal Revenue Service (RFB) has extended the deadline for taxpayers to join tax settlement programs under Public Notices RFB No. 4/2025 and 5/2025 on 10 November 2025. The extension was formalised by Ordinance RFB No. 600/2025,
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Brazil to make electronic tax domicile mandatory for all companies from 2026
As part of the Consumption Tax Reform (RTC), Brazil’s Federal Revenue Service announced that all legal entities will be required to use the Electronic Tax Domicile (DTE) as their official communication channel beginning 1 January 2026. Under
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US: Treasury Department discontinues direct file option for individual tax returns
The US Department of the Treasury issued a report to Congress in October 2025 regarding the replacement of the Direct File program for individual income tax returns. Initially launched during the 2024 tax filing season in 12 states, the program
See MoreUS: Trump administration working on reducing tariffs on Swiss imports
The US is in discussions with Switzerland to reduce the 39% tariff imposed on Swiss exports, President Donald Trump announced on 10 November 2025, although no final agreement has been reached. The high tariffs, introduced in August as part of
See MoreArgentina: ARCA revises tax, customs payment terms
The Argentine Tax Authority (ARCA) has revised the conditions of the payment facility for outstanding tax and customs obligations, established initially under General Resolution No. 5711/2025 in June 2025. This announcement was made on 22 October
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Peru: Congress approved the tax treaty with the UK
Peru’s Congress approved the tax treaty with the UK on 6 November 2025. The agreement aims to mitigate tax base erosion and profit shifting by reducing withholding tax rates on cross-border income. It caps dividend withholding tax at 10%, with
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China eases export controls on select materials to US
China’s Ministry of Commerce (MOFCOM) announced on Sunday, 9 November 2025, that it will temporarily suspend part of its 2024 export-control rules on certain dual-use materials shipped to the US. The change, effective from 9 November 2025 to 27
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Canada: Ontario unveils 2025 tax measures, maintains unchanged corporate tax rates
Ontario's Finance Minister released the 2025 Fall Economic Statement, also known as the “2025 Ontario Economic Outlook and Fiscal Review,” on 6 November 2025. It maintains corporate tax and personal income tax unchanged while introducing several
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Mexico: Central bank cuts interest rate to 7.25%
Mexico’s central bank, Bank of Mexico, has cut its benchmark interest rate by 25 basis points to 7.25%, continuing its cycle of rate reductions. This is the lowest level since May 2022. Deputy Governor Jonathan Heath has opposed a rate cut due
See MoreUS: Minnesota revises tax forms due to One Big Beautiful Bill Act (OBBBA) nonconformity
The US State of Minnesota has updated its draft tax forms and instructions for 2024 and 2025 to reflect federal tax changes from the One Big Beautiful Bill Act (OBBBA) passed in July 2025. However, as of 1 May 2023, Minnesota's tax code conforms
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US: IRS services remain limited as US government shutdown hits record length
The ongoing US federal government shutdown, which began on 1 October 2025, has become the longest in history, lasting 37 days as of 6 November 2025. The IRS is heavily impacted, with most staff furloughed and limited capacity to process returns,
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Uzbekistan agree on trade deal with the US
The US and Uzbekistan agreed on a trade and economic deal on 7 November 2025. President Donald Trump announced on Truth Social that Uzbekistan intends to invest and purchase approximately USD 35 billion from U.S. sectors over the next three
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