UK: HMRC launches compliance campaign on directors’ loans
HMRC is contacting directors over potentially undeclared released loans, with possible implications for both personal and company tax compliance. The UK’s HMRC is contacting company directors who had loans released or written off between April
See More
Japan, Ukraine tax agreement comes into effect
The Ministry of Finance confirmed the 2024 tax treaty with Ukraine will take effect on 1 August 2025. Japan’s Ministry of Finance announced on 2 July 2025 that the 2024 tax treaty and protocol with Ukraine will come into effect on 1 August
See More
Russia ratifies new tax treaty with UAE
Russia ratified its new income and capital tax treaty with the UAE, which replaces the limited 2011 agreement. Russia has enacted Federal Law No. 189-FZ on 7 July 2025. The law was published in the Official Gazette on the same day. The
See More
Switzerland ratifies tax treaty protocol with Hungary
Switzerland ratified the first protocol amending its 2012 tax treaty with Hungary, effective after the exchange of ratification. Switzerland published Federal Decree No. 2042/2025 in its Official Gazette on 1 July 2025, approving the ratification
See More
Belgium revises CRS list, adds Armenia and Uganda
The updated CRS exchange list for 2024 now includes Armenia and Uganda. Belgium’s government has published the Royal Decree of 2 July 2025 in Official Gazette No. 2025004947 of 8 July 2025. The Royal Decree updates the list of jurisdictions
See More
Eurasian Economic Union (EAEU), Mongolia sign temporary FTA
The FTA will be valid for three years, with a mutual option to extend for another three years. The Eurasian Economic Union (EAEU), comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, signed a temporary free trade agreement (FTA)
See MoreUK: HMRC introduces strict crypto reporting rules starting 2026
UK crypto traders will face penalties if they fail to provide personal information under HMRC’s updated reporting requirements. The UK's HM Revenue & Customs (HMRC) has published updated guidelines introducing new reporting obligations for
See More
Latvia, Andorra tax treaty enters into force
Latvia and Andorra's agreement to eliminate double taxation and prevent tax evasion came into effect on 16 June 2025. Andorra announced in the Official Gazette that the income and capital tax treaty between Andorra and Latvia entered into force
See More
UK Treasury amends Pillar Two rules to allow retrospective HMRC notices
The UK Treasury has amended Multinational Top-up Tax regulations to enable HMRC to issue retrospective notices under the OECD’s Pillar Two rules, effective 24 July 2025. The UK Treasury introduced SI 2025/783 on 30 June 2025, amending the
See MoreUK: Online marketplaces responsible for VAT on sales by foreign sellers
HMRC has confirmed that online marketplaces must account for VAT on goods sold by overseas businesses when the items are located in the UK at the time of sale. The UK’s HM Revenue & Customs (HMRC) issued guidance on 20 June 2025 confirming
See More
Russia: Federation Council ratifies new income and capital tax treaty with UAE
Russia’s Federation Council ratifies law for new income and capital tax treaty with UAE, replacing 2011 agreement. The Russian Federation Council approved the law ratifying the income and capital tax treaty with the UAE on 2 July 2025. The
See More
Georgia introduces tax incentives for startups and R&D entities
Innovative startups will enjoy 10 years of tax benefits, including exemption from salaries for the first three years, 5% corporate tax rates for the next three years, and 10% for the final four years. R&D service providers will face 5% corporate
See More
Ukraine mandates 2024 CbC reports from MNEs headquartered in US, Canada, Israel
The automatic exchange of reports with these countries have not yet fully worked as of the end of 2024. The State Tax Service of Ukraine announced that constituent entities in Ukraine belonging to multinational enterprise (MNE) groups
See More
OECD urges Iceland to reform its fiscal framework
The OECD report recommends that Iceland reform its fiscal framework to enhance sustainability and reduce economic volatility. The Organisation for Economic Co-operation and Development (OECD) has published a report on 26 June 2025, advising
See More
Norway proposes phased B2B e-invoicing and digital bookkeeping mandate
The deadline for sending feedback is 31 October 2025. Norway's Ministry of Finance has initiated a public consultation on 1 July 2025, regarding the proposed mandatory digital bookkeeping and B2B e-invoicing for all domestic and foreign entities
See MoreNorway issues list of non-cooperative tax jurisdictions
Norway's Ministry of Finance adopted a regulation listing non-cooperative tax jurisdictions to align with EU and EEA obligations. Norway’s Ministry of Finance adopted the Regulation on Non-Cooperative Jurisdictions for Tax Purposes, which
See MoreUkraine: Government approves 2026–2028 budget plan
Ukraine’s Cabinet approved the 2026–2028 Budget Declaration, outlining fiscal targets, wage adjustments, and EU-aligned reforms. The Ukrainian Council of Ministers approved the Budget Declaration for 2026–2028 through Decree No. 774 on 27
See MoreUK: Treasury enacts cryptoasset reporting regulations
The Regulations implement OECD's Crypto-Asset Reporting Framework (CARF) and will come into force on 1 January 2026. The UK Treasury has enacted Regulations 2025 (SI 2025/744) on 24 June 2025; mandating UK reporting crypto asset service
See More