Global updates – a quick glance
Argentina: Argentina tax authority updated thresholds for transfer pricing documentation and reporting.
Australia:
- Australia has passed a law requiring employers to make superannuation guarantee payments within 7 working days to strengthen the retirement savings compliance and timely contributions.
- Australia has confirmed that the OECD Crypto-Asset Reporting Framework (“CARF”) will be implemented from 2027.
Canada:
- Effective January 1, 2026, Ontario employers with 25 or more employees must follow new rules while advertising jobs, including disclosing compensation, use of artificial intelligence, etc.
- British Columbia introduced a 27-week unpaid, job-protected leave for employees unable to work due to serious illness or injury, effective November 27, 2025.
China:
- China’s new VAT law and the implementation regulations became effective on January 1, 2026.
- China has introduced new VAT rules for digital platform intermediaries including online marketplaces, service platforms, payment processors, etc.
Finland:
- Finland Customs has announced that the requirement to file Intrastat declarations for arrivals is discontinued from January 2026.
- The Finnish Parliament has approved legislation to bring down the reduced VAT rate from 14% to 13.5%, effective January 1, 2026.
France:
- France has adopted a special Finance Bill to extend 2025 tax provisions into 2026. A full Finance Bill for 2026 is expected to be adopted later, likely in the first quarter of 2026.
- France introduced new birth leave for both parent; increased the social security contribution on mutual termination and retirement indemnities from 30% to 40%, and postponed pension reforms raising the retirement age to January 1, 2028.
- Effective from January 1, 2026, the Annual Social Security Ceiling (“PASS”) in France increased by 2%, from EUR 47,100 in 2025 to EUR 48,060 in 2026.
Germany:
- Federal Cabinet approved the Social Security Calculation Parameters Regulation 2026, updating the maximum bases for social security contributions effective from January 1, 2026.
- Parliament has approved the Tax Amendment Act 2025, introducing certain tax relief measures for individuals.
- The Karnataka Cabinet has approved the Menstrual Leave Policy, making Karnataka the first Indian state to mandate paid menstrual leave for both public and private sectors.
- Effective November 1, 2025, India has implemented a simplified GST registration system under the GST 2.0 reforms approved by the GST Council.
- India’s Ministry of Labour and Employment implemented the new labour code, effective November 21, 2025; Government publishes draft rules.
- The Ministry of Corporate Affairs (MCA) has relaxed turnover and capital limits for the definition of a small company.
India:
- The Karnataka Cabinet has approved the Menstrual Leave Policy, making Karnataka the first Indian state to mandate paid menstrual leave for both public and private sectors.
- Effective November 1, 2025, India has implemented a simplified GST registration system under the GST 2.0 reforms approved by the GST Council.
- India’s Ministry of Labour and Employment implemented the new labour code, effective November 21, 2025; Government publishes draft rules.
- The Ministry of Corporate Affairs (MCA) has relaxed turnover and capital limits for the definition of a small company.
Ireland:
- Ireland’s new Government presented its first Budget on October 7, 2025, proposing measures such as increase in R&D tax credit, VAT rate reduction, etc.
- The Irish Revenue announces plan for phased implementation of e-invoicing and real time VAT reporting starting 2028.
- The Irish Government reduced employee count threshold for gender pay gap reporting from 250 to 50.
- Auto enrolment pension regime became effective on January 1, 2026.
Japan:
- Law introducing measures to prevent customer harassment and job seekers’ harassment passed by the Parliament
Malaysia:
- E-invoicing annual turnover threshold increased from RM 500,000 to RM1 million.
Netherland:
- The Senate (upper house of parliament) approved the 2026 tax plan on December 16, 2025. The Plan marginally revised tax slabs and rates for individuals and announced changes in employer social security contributions rates.
Singapore:
- From November 1, 2025, Singapore increased compensation limits for work-related death, permanent incapacity, and medical expenses.
- Singapore’s Parliament passed the Workplace Fairness (Dispute Resolution) Bill on November 4, 2025, establishing a comprehensive framework to address workplace discrimination, with full implementation expected by end of 2027.
- Singapore’s Parliament amended the Income Tax Act, 1947 to implement the 2025 Budget announcement, allowing companies to claim tax deductions for payments to a holding company or SPV for issuing new shares under Employee Equity-Based Remuneration (EEBR) schemes, effective from Year of Assessment 2026.
- Singapore has extended the Part-Time Re-employment Grant (PTRG) until December 31, 2027.
Spain:
- Spain has delayed the Veri*factu e-invoicing rollout by one year: corporate taxpayers must adopt it from January 1, 2027 (previously 2026), and freelancers and others from July 1, 2027 (previously 2026).
Switzerland:
- Switzerland has postponed the planned increase in the standard VAT rate from January 2026 to January 2028.
Thailand:
- Thailand parliament passed Labour Protection Act (No. 9) B.E. 2568 (2025) allowing enhanced maternity leave, paternity leave and menstrual leave effective from December 7, 2025.
- Thailand’s Social Security Fund (“SSF”) has officially announced a new wage ceiling, which took effect on January 1, 2026.
UAE:
- The UAE amends VAT law introducing 5 years statutory limit for carry forward of excess VAT effective from January 1, 2026.
- Abu Dhabi launched a program allowing eligible Emirati mothers in the private sector to claim up to 90 days paid maternity leave with financial support of up to AED 15,000 per month.
- The UAE issued Federal Decree-Law No. 20 of 2025, amending provisions of Federal Decree-Law No. 32 of 2021 on Commercial Companies, effective October 2025. The law clarifies migration of companies between jurisdictions in UAE such as mainland and free zones.
United Kingdom:
- From April 6, 2026, UK relaxes total assets and employee count limit for eligibility for EMI scheme.
- HMRC issued guidance for reporting by UK crypto asset service providers, requiring them to collect and report user and transaction information effective January 1, 2026.
- The UK’s Employment Rights Bill received royal assent on December 18, 2025, becoming the Employment Rights Act 2025, introducing major reforms to modernize workplace rights.