Australia: ATO revises guidance on mutual agreement procedure requests

The OECD has released an updated common understanding on the central filing of Pillar Two GloBE Information Returns (GIRs), providing relief from local filing penalties for jurisdictions implementing the global minimum tax, subject to specific filing, notification, and exchange requirements.

Argentina's Chamber of Deputies approved the Super RIGI on 24 June 2026, a USD 1 billion-threshold incentive regime offering 30 years of fiscal stability and a 15% corporate tax rate to attract investment in critical minerals, biotech, semiconductors, and AI.

Portugal's Council of Ministers has approved an amendment to the General Tax Law replacing the country's list of 77 countries, territories and regions with privileged tax regimes with the EU list of 10 non-cooperative jurisdictions, narrowing the scope of existing anti-abuse tax measures.

Kuwait has signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA), becoming the 116th signatory to the OECD framework for the automatic exchange of Country-by-Country (CbC) reports between tax authorities.

The UK government has unveiled new tax and customs reforms that include consultations on VAT, Income Tax Self Assessment, customs modernisation and compliance measures, alongside initiatives to expand digital services and strengthen tax enforcement.

Italy has postponed its EUR 2 handling fee on low-value imports by a further three months, delaying the start date from 1 July 2026 to 1 October 2026.