Malaysia, Russia income tax treaty enters into force
The new income tax treaty between Malaysia and Russia entered into force on 3 September 2025. The agreement covers Malaysian income tax and petroleum income tax, as well as Russian corporate profit and individual income taxes. Withholding tax
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UK: Parliament considers Finance Bill containing 2025 budget proposals
The UK Parliament is currently reviewing the Finance (No. 2) Bill (Bill 342 for 2024–26), which was introduced to the House of Commons on 4 December 2025. The bill has completed its first reading and outlines the key tax and financial measures
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UK to maintain duty-free access for Bangladeshi exports until 2029
The UK will continue to allow Bangladeshi products to enter its market duty-free until 2029, British High Commissioner to Dhaka Sarah Cook announced. She made the statement during the HSBC Export Excellence Award 2025 event on 7 December in
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UK: HMRC updates making tax digital guidance for income tax
The UK’s HM Revenue and Customs (HMRC) updated its guidance on Making Tax Digital (MTD) for income tax on 26 November 2025 as part of preparations for mandatory digital reporting from 6 April 2026. The revisions clarify penalty rules,
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Switzerland: Federal Council announces CRS update, new crypto reporting rules
Switzerland’s Federal Council has announced amendments to the Ordinance on the International Automatic Exchange of Information in Tax Matters (AEOI Ordinance), updating rules to align with the OECD’s Common Reporting Standard (CRS) and
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Russia simplifies tax registration for foreign companies
The Russian State Duma has approved amendments to Articles 83 and 84 of the Russian Tax Code to simplify the tax registration process for foreign companies. Under the new rules, foreign organisations no longer need to submit separate applications
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Georgia expands BEPS MLI coverage through 22 additional treaties
According to an OECD update, Georgia submitted an updated consolidated position for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI) on 27 November 2025. The update notably expands the list of Georgia’s
See MoreUK: Secretary of State approves anti-dumping duties on Chinese biodiesel
The UK’s Secretary of State has approved the Trade Remedies Authority’s (TRA) final recommendation to impose a new anti-dumping duty on biodiesel imports from China on 24 November 2025. This announcement was made on 25 November 2025. The
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UK: HMRC outlines reforms to transfer pricing, PE rules, DPT for 2026
The UK’s HM Revenue & Customs (HMRC) on 26 November published a policy paper outlining extensive reforms to the UK’s transfer pricing framework, permanent establishment (PE) rules and the Diverted Profits Tax (DPT). The update follows a
See MoreUS, UK strike agreement for tariff free pharmaceuticals
The US and the UK reached an agreement on 1 December 2025 that eliminates tariffs on British pharmaceutical products and medical technology. In exchange, the UK has committed to increasing its spending on medicines and reforming how it determines
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Switzerland: Federal Council approves amending protocol to tax treaty with Croatia
The Swiss Federal Council confirmed on 26 November 2025 the adoption of the dispatch for the protocol amending the 1999 income and capital tax treaty with Croatia. Signed on 18 July 2025, the protocol makes updates to the OECD Model Double
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Germany, Switzerland tax treaty amending protocol comes into effect
The Swiss State Secretariat for International Finance announced that the protocol amending the 1971 income and capital tax treaty with Germany came into force on 27 November 2025. The protocol, signed on 21 August 2023, updates the treaty to
See MoreSwitzerland: Federal Council adopts protocol to income tax treaty with Belgium
The Swiss Federal Council adopted the dispatch on 26 November 2025 for a protocol to the income tax treaty with Belgium. The protocol implements minimum standards for such treaties, including an abuse clause to prevent arrangements or
See MoreSwitzerland: Voters reject mega-inheritance tax proposal
Swiss voters decisively rejected a proposed 50% tax on inheritances of CHF 50 million (USD 62 million) or more on 30 November 2025, with 78% voting against it. This was higher than the two‑thirds opposition predicted in polls. The plan, put
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Albania, Luxembourg tax treaty and amendment protocol enters into force
Luxembourg announced on 28 November 2025 that the income and capital tax treaty with Albania, along with its amending protocol on 27 November 2025, officially entered into force on 25 June 2025. The original treaty, signed on 14 January 2009,
See MoreGeorgia: Parliament ratifies tax treaty protocol with San Marino
Georgia’s Parliament has approved the ratification of the protocol amending the 2012 Income and Capital Tax Treaty with San Marino on 26 November 2025. The protocol, initially signed on 17 October 2025, amends Article 25 of the treaty, which
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Russia: President signs 2026-28 federal budget laws, introduces higher VAT rates
Russian President Vladimir Putin signed the laws on the federal budget for 2026 and the planning period of 2027–2028, as well as the laws amending the Budget and Tax Codes and outlining the specific rules for implementing the budget system in
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Switzerland approves amendment to AEOI rules ahead of 2026 entry into force
The Swiss Federal Council has approved amendments to the Ordinance on the International Automatic Exchange of Information in Tax Matters (AEOI Ordinance), confirming that the revised rules will take effect on 1 January 2026 alongside the amended
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