UK updates Pillar 2 jurisdiction list
HMRC issued an updated Notice 2 expanding the list of territories and qualifying domestic top-up taxes recognised under the Multinational Top-up Tax Regulations 2025. The UK’s HM Revenue & Customs (HMRC) released a revised Notice 2
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Russia: State Duma approves VAT exemption for precious metal deposits
State Duma approved a draft law exempting banks from VAT on interest paid in precious metals, aiming to boost deposits and reduce legal disputes. Russia's lower house of the Federal Assembly (State Duma) approved at first reading a draft law that
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Russia: State Duma reviews draft 2026–2028 federal budget
Russia’s State Duma committee began reviewing the 2026–2028 federal budget, focusing on social spending, defence, regional development, and technological leadership. The Russia’s State Duma Committee on budget and taxes has begun
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Iceland consults kilometre tax bill
Iceland opened a public consultation until 24 October 2025 on a bill proposing a kilometre-based road usage tax from 1 January 2026. Iceland’s Economic Affairs and Trade Committee launched a public consultation on 6 October 2025 regarding the
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European Commission enhances tax collaboration with Andorra, Liechtenstein, Monaco, San Marino
The updates enhance the existing 2015 and 2016 agreements by aligning with recent EU and international standards and expand the scope of reporting to include specific electronic money products and central bank digital currencies. The European
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European Commission to negotiate with Norway on administrative cooperation in direct tax
This proposed agreement aims to align Norway with certain aspects of the EU Directive on Administrative Cooperation (DAC), enabling the automatic exchange of tax-related information. The European Commission announced its decision to move
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EU: Council to reduce or eliminate customs duties for several agri-food products for Ukraine
The Council approved the EU’s position in the EU-Ukraine Association Committee to reduce or remove customs duties on various agri-food products, including dairy, meat, and produce destined for Ukraine. The EU Council has adopted a decision on
See MoreUK: HMRC publishes guidance on mandatory registration under CRS, FATCA
HMRC requires reporting financial institutions and trustee-documented trusts to register under CRS and FATCA by 31 December 2025, with CRS 2.0 updates affecting certain entities from 2026. UK’S HMRC has released guidance in its International
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Croatia: MoF consults ratification of tax treaty protocol with Switzerland
The deadline for submitting comments is 30 September 2025. Croatia’s Ministry of Finance has initiated a public consultation on 16 September 2025, on the ratification of the amending protocol to its 1999 income and capital tax treaty with
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Italy: Chamber of Deputies approves income tax treaty with Kosovo
The agreement aims to eliminate double taxation on income and prevent tax evasion and avoidance between the two countries. Italy’s Chamber of Deputies (lower house) has approved the ratification of its income tax treaty with Kosovo on 8
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Romania: Senate approves new tax treaty with UK
Once in force, the treaty will replace the existing Romania–United Kingdom Income Tax Treaty of 1975. The Romanian Senate approved the new tax treaty with the UK on 29 September 2025. The new agreement, signed on 13 November 2024, aims to
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Armenia: President ratifies tax treaty with Japan
Once effective, it will replace the USSR–Japan Income Tax Treaty (1986) in relations between Armenia and Japan. On 3 October 2025, the President of Armenia, Vahagn Khachaturyan, signed a law ratifying the 2024 tax treaty with Japan. The
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Latvia, Liechtenstein sign tax treaty
The new agreement aligns with the latest international standards, reflecting the OECD/G20 Base Erosion and Profit Shifting (BEPS) recommendations. Latvia and Liechtenstein signed an income and capital tax treaty on the sidelines of the seventh
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Romania: Senate approves tax treaty with Andorra
The agreement was signed on 27 September 2024 and seeks to eliminate double taxation and prevent fiscal evasion between the two nations. The Romanian Senate approved the 2024 income and capital tax treaty with Andorra on 29 September 2025. The
See MoreRussia: SMEs in the hotel industry to receive over RUB 85 billion in government support until 2030
Russia plans to channel over RUB 85 billion to nearly 2,500 hotel SMEs by 2030 through the National Guarantee System, boosting tourism infrastructure and supporting new and existing hotels. The Russian government plans to channel more than RUB 85
See MoreUK: HMRC releases latest R&D tax credit data
HMRC reports GBP 7.6bn in R&D tax relief for 2023–24, with SME claims down and RDEC claims up. The UK’s HM Revenue and Customs (HMRC) published the latest update in its yearly series on research and development (R&D) activities on 30
See MoreIceland consults on changes to innovation tax credit law
The consultation ends on 13 October 2025. The Icelandic Minister of Finance and Economic Affairs launched a public consultation on proposed amendments to Law No. 152/2009, which governs tax credit support for innovative companies. The
See MoreUK: HMRC introduces tool to determine qualifying R&D activities for tax relief
The tool is designed to check R&D tax relief for eligible projects. The UK’s HM Revenue and Customs (HMRC) issued guidance on 30 September 2025 introducing an online tool designed to help taxpayers assess whether a project contains
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