Radar archive — November 2025
UAE overhauls its Tax Procedures Law for 2026
Federal Decree-Law No. 17 of 2025 amends the Tax Procedures Law, introducing a five-year window for credit-refund requests, expanded powers to audit beyond standard limitation periods in defined cases, and binding interpretive directions from the authority. The changes took effect on 1 January 2026.
Implications for capital — Refund timelines and extended audit reach change how long tax exposure and reclaim rights stay open for UAE-registered structures.
Source: UAE Ministry of Finance
Sweden brings crypto-asset holdings into automatic tax reporting from 2026
On 20 November 2025 the Riksdag's Tax Committee endorsed legislation implementing the EU DAC8 directive and the OECD Crypto-Asset Reporting Framework (CARF). From 1 January 2026 crypto-asset service providers must identify users, verify tax residence and report transactions to Skatteverket, with the first cross-border exchange of the data in 2027.
Implications for capital — Crypto positions held through Swedish-connected providers become subject to standardised tax reporting and automatic exchange between tax authorities.
Brazil rebuilds crypto reporting around the OECD's CARF
Normative Instruction RFB 2.291, of 14 November 2025, created the DeCripto declaration and replaced Brazil's 2019 crypto-reporting rules, aligning the country with the OECD Crypto-Asset Reporting Framework. Crypto-asset service providers must apply KYC/AML due diligence from January 2026, with mandatory monthly DeCripto filing phased in during 2026, and foreign exchanges active in Brazil face the same obligations as domestic operators.
Implications for capital — The rule extends Brazilian tax visibility to residents' activity on foreign crypto platforms and standardises data for cross-border automatic exchange of crypto-asset information.
Source: Receita Federal do Brasil
Israel unveils a five-year income-tax holiday for 2026 olim
The Ministers of Aliyah and Integration and of Finance announced a planned income-tax exemption for new immigrants and returning residents (abroad more than ten years) who make aliyah between 5 November 2025 and the end of 2026. The relief tapers over five years — up to NIS 1m of income exempt in 2026 and 2027, declining to NIS 150,000 by 2030 — and sits alongside the existing ten-year exemption on foreign-source income. It requires legislation and would apply retroactively once enacted.
Implications for capital — The incentive would extend preferential treatment to Israeli-source earned income for a defined arrival window, separate from the long-standing foreign-income exemption. It is not yet in force pending legislation.
Mexico raises the withholding rate on financial-system interest
The Ley de Ingresos de la Federación for 2026, published in the Diario Oficial de la Federación on 7 November 2025, lifts to 0.90% the annual rate at which banks and other members of the financial system withhold income tax on the principal that generates interest, up from 0.50% under Article 24. The measure forms part of the 2026 economic package, which also amended the Federal Fiscal Code, and the rate is now set directly by the finance ministry rather than by the previous formula.
Implications for capital — Interest-bearing holdings placed through Mexican financial institutions bear a higher up-front withholding on invested principal, reducing the after-tax cash flow of resident savers and investors until it is reconciled in the annual return.
Source: Cámara de Diputados — Ley de Ingresos de la Federación 2026