US: New York approves FY 2026-27 budget, introduces tip income tax exemption

Portugal has issued detailed instructions for the VAT Group Regime declaration, covering submission procedures, tax calculations, refunds and rectifications.

Tariffs will remain central to any revised USMCA deal, U.S. Trade Representative Jamieson Greer confirmed this week, signalling the administration's intention to use import duties as leverage to reshape North American supply chains and narrow trade deficits with Mexico and Canada. 

The US is demanding stricter automotive content rules and threatening to reshape North American trade on its terms. Mexico sits at the negotiating table while Canada watches from the sidelines, facing tariffs if it refuses a deal neither may have written. The question now is whether either country can genuinely negotiate, or whether they're simply accepting the inevitable.

Romania is easing its grip on mandatory e-invoicing, exempting farmers, small suppliers, and foreign cultural bodies from strict compliance while simplifying how transactions with everyday customers are handled. The overhaul, formalised on 29 May 2026, reflects a deliberate pivot toward digital modernisation without crushing administrative burden on individuals and small-scale operators.

Australian employers can now stop paying superannuation guarantee contributions once employees' earnings reach AUD 270,830 in 2026–27, up from the previous AUD 250,000 threshold—giving high-income earners payroll relief.

Brazil's tax authority reassures companies that PIS/Cofins credits worth R$140 billion won't disappear in the shift to a new consumption tax—they can be offset, refunded, or used against other federal levies.