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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Chile: Congress grants tax incentive to boost green hydrogen, related industries
Chile’s Chamber of Deputies (the lower house of Congress) approved a bill on 3 December 2025 during session No. 98a/373, as noted in Bulletin No. 17777-05. The legislation, proposed by the Executive Branch, aims to introduce tax incentives to
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US: New Hampshire introduces one-time tax amnesty regime
New Hampshire’s Department of Revenue (DRA) announced that its one-time tax amnesty program, enacted under H.B. 2 in June, began on 1 December 2025 and will continue until 15 February 2026. Amnesty is available to any taxpayer who has a
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Brazil: RFB aligns crypto reporting rules with CARF standards
Brazil’s Federal Revenue Service (RFB) has released Normative Instruction No. 2291 of 14 November 2025, which updates the country’s crypto-asset reporting rules to align with the OECD Crypto-Asset Reporting Framework (CARF). The Federal
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Japan, Paraguay sign investment protection agreement
Japan’s Ministry of Foreign Affairs announced, on 6 December 2025, that Japan and Paraguay signed the “Agreement for the Promotion and Protection of Investment” on 5 December 2025. The agreement is designed to strengthen investment
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Qatar, Uruguay sign income tax treaty
Qatar's General Tax Authority (GTA) announced, on 7 December 2025, that Qatar and Uruguay signed an income tax treaty. The agreement was signed by HE Ali bin Ahmed Al Kuwari, Minister of Finance of the State of Qatar, and HE Mario Lopetegui,
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US: Florida updates rules on corporate income tax conformity, addbacks
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,
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US: New Jersey clarifies exclusion of OBBBA deductions
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
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Argentina: ARCA publishes FAQs on electronic tax address notifications
Argentina’s tax and customs agency (ARCA) has released frequently asked questions on electronic tax address notifications on 9 December 2025. The Electronic Tax Address is a secure and free virtual mailbox that replaces the physical address for
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Cyprus: Tax Department clarifies bilateral agreement with US for exchange of CbC reports
The Cyprus Tax Department has issued a notice, on 25 November 2025, regarding the anticipated effective date of the agreement for the exchange of Country-by-Country (CbC) reports with the US and the related local filing requirements. The Tax
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Argentina: ARCA consults draft transfer pricing regulation
Argentina’s tax and customs agency (ARCA) has initiated a public consultation on a draft regulation to replace General Resolution No. 4717/2020 on transfer pricing and international transactions on 9 December 2025. This resolution, which
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Costa Rica: MoF announces 2026 corporate tax rates
Costa Rica's Ministry of Finance has published Executive Decree No. 45333-H on 5 December 2025, setting the corporate income tax rates for 2026. The Decree also enlists the individual income tax brackets and rates for 2026. Corporate Income Tax
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Colombia: DIAN seeks public input on draft fiscal reconciliation resolution
Colombia’s tax authority, DIAN, has launched a public consultation on a draft resolution that partially amends Resolution 000227 of 2025 on 3 December 2025 , which covers tax, customs and exchange matters. The amendment concerns the
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Brazil: RFB updates rules on credit losses, interest on equity
Brazil’s tax authority, the Federal Revenue Service (RFB) announced that it updated Normative Instruction RFB No. 1,700/2017 on 4 December 2025 to clarify the tax treatment of credit losses and interest on equity (JCP). The changes respond to
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