Brazil: RFB updates automatic information exchange rules to include digital currencies, crypto-assets
Brazil’s Federal Revenue Service (RFB) issued Normative Instruction RFB 2298 on 26 December 2025, updating the Common Reporting Standard (CRS) in line with the latest OECD version. Effective 1 January 2026, Key updates include the
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US: Whistleblower Office announces new digital Form 211
The US Internal Revenue Service (IRS) Whistleblower Office announced on 19 December 2025 that it is making it easier for whistleblowers to report tax noncompliance to the IRS with the launch of the new digital Form 211, Application for Award for
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US: Treasury, IRS offers safe harbour for taxpayers claiming carbon capture credit
The US Department of the Treasury and the Internal Revenue Service provided guidance on 19 December 2025 for taxpayers claiming the tax credit for carbon capture and sequestration, which was expanded and modified in the One, Big, Beautiful
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Argentina: ARCA raises transfer pricing reporting thresholds
Argentina’s Federal Tax Administration (ARCA) has increased the revenue thresholds that trigger mandatory transfer pricing documentation, aiming to streamline reporting requirements for multinational and local taxpayers. The changes are set out
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Chile: Tax Authority updates Second Category Income Tax parameters for January 2026
Chile’s tax authority (Servicio de Impuestos Internos – SII) has issued Circular No. 67 of 10 December 2025, confirming the Second Category Income Tax values and calculation tables to be applied in January 2026. The guidance, which marks the
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Brazil: Chamber of Deputies passes taxpayer defence code, targets habitual tax defaulters
Brazil’s Chamber of Deputies has approved Complementary Bill 125/2022, which creates the Taxpayer Defence Code. This framework sets out the general rights, guarantees, and responsibilities of taxpayers, as well as the procedures governing their
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Finland updates BEPS MLI stance on Brazil tax treaty, including corrections
Finland submitted an updated consolidated position for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI), as noted by the OECD on 11 December 2025. This update includes two specific corrections regarding
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US: IRS-CI releases 2025 annual report highlighting key investigations
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
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US to introduce gradual tariffs on Nicaragua following labour rights violations
The US will introduce new tariffs on selected Nicaraguan imports starting 1 January 2026, citing ongoing labour and human rights issues. According to the US Trade Representative (USTR), the duties will be phased in gradually, rising to 10% in
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US to reduce Swiss tariffs under new trade deal
The US will reduce tariffs on Swiss goods from 39% to 15% under a new trade framework, the Swiss government announced today. The agreement also includes a commitment by Swiss companies to invest USD 200 billion in the US by 2028. The framework
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Mexico: Senate approves tariffs of up to 50% on Asian imports
Mexico’s Senate has approved tariffs of up to 50% on more than 1,400 products from countries without free trade agreements, including China, India, South Korea, Thailand, and Indonesia. The increases, effective 1 January 2026, target goods such
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Argentina: ARCA updates VAT withholding rules for digital platforms
Argentina’s tax authority (ARCA) has issued General Resolution 5794/2025, which updates the special VAT withholding rules for transactions conducted through digital platforms, initially established under General Resolution 5319/2023. The core
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Peru: SUNAT updates fine reduction rules for late tax filings
Peru’s Tax Authority (SUNAT) has amended the gradual reduction of fines for taxpayers who fail to file certain income tax returns through Resolution No. 000355-2025/SUNAT, published in the Official Gazette on 29 November 2025 and effective from 30
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Colombia: Senate Committee rejects 2026 tax reform
Colombia’s Senate announced that its Fourth Commission voted down the government’s proposed 2026 tax reform during the third joint session of Congress’s Economic Commissions, with 4 votes in favour and 9 against. This announcement was made
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Chile: SII publishes circular on MFN clause activation in tax treaties with five countries
Chile’s tax authority (SII) issued Circular No. 65 on 3 December 2025, addressing the activation of Most-Favoured-Nation (MFN) clauses in Chile’s tax treaties with Belgium, New Zealand, Norway, Switzerland, and Uruguay. These clauses are
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Brazil: RFB launches compliance program focused on legal certainty
Brazil’s Federal Revenue Service (RFB) announced on 10 December 2025 the launch of Confia, its Cooperative and Tax Compliance program, marking a historic moment for the relationship between the tax authorities and taxpayers. Federal government
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US: IRS, Treasury issue guidance on enhanced health savings account tax benefits under the One, Big, Beautiful Bill
The Department of the Treasury and the Internal Revenue Service (IRS) issued Notice 2026-05 on 9 December 2025, announcing new guidance on tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill. These changes
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Uruguay: Senate amends Budget Bill to amend QMDTT effective date
Uruguay’s Senate has confirmed the effective date for the qualified minimum domestic top-up tax (QMDTT) in the 2025–2029 Budget Bill amendments on 3 December 2025. The Senate-approved amendments establish that the tax will take effect from
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