Australia includes major corporate, CGT tax reforms 2026-27 budget 

13 May, 2026

Australia's 2026-27 Federal Budget, delivered by Treasurer Jim Chalmers on 12 May 2026, introduces major tax reforms targeting capital gains and negative gearing while supporting businesses and workers. The budget...

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Taiwan clarifies 2026 income basic tax exemption threshold for profit-seeking enterprises

12 May, 2026

Taiwan sets 2026 basic income tax threshold at TWS 600,000 for profit-seeking enterprises under the Income Basic Tax Act. Basic tax is applied on income exceeding the threshold, with assessment and liability determined under the Income Tax Act and related rules.

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Slovenia: FURS initiates testing phase for Pillar Two top-up tax returns

12 May, 2026

Slovenia’s Financial Administration has launched a testing phase for Pillar Two top-up tax returns on the BETA eDavki portal. Covering QDMTT, IIR, and UTPR rules, the new functionality allows taxpayers to trial GloBE-ODPD and GloBE-OPD submissions before the forms go live on the production system in mid-May.

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Australia: ATO hosts third Pillar Two information session ahead of June lodgment deadline

12 May, 2026

With first Pillar Two lodgments due by 30 June, the ATO brought together more than 750 participants from Australia and around the globe to address key obligations, registration requirements, and practical guidance for multinational enterprise groups and their advisers. 

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UK: HMRC updates systems following corporation tax penalty increase

12 May, 2026

UK raises Corporation Tax late filing penalties for returns due from 1 April 2026, doubling fixed fines under Schedule 18 Finance Act 1998, while HM Revenue & Customs temporarily pauses automatic notices during system updates until June 2026.

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Germany: Federal Council approves BEPS MLI expansion

12 May, 2026

The German Federal Council approved an expansion of the scope of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 8 May 2026. This move represents a major step in Germany’s commitment to the OECD/G20 BEPS Project.

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Kazakhstan advances CARF implementation ahead of 2027 exchanges

12 May, 2026

OECD’s global forum on transparency and exchange of information for tax purposes supports Kazakhstan’s implementation of the crypto-asset reporting framework ahead of 2027 exchanges.

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Kenya: President assents to income tax, SEZ and technopolis bills

12 May, 2026

President William Ruto signed three economic reform bills into law on 11 May 2026, introducing capital gains tax exemptions for internal corporate reorganisations, expanding special economic zones to the oil and gas sectors, and establishing a legal framework for technology hubs across Kenya.

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US: USTR launches new four-year review of China IP, technology transfer practices

12 May, 2026

The US Trade Representative initiated the second four-year review of Section 301 tariffs on Chinese imports on 6 May 2026, covering measures worth approximately USD 50 billion imposed in July and August 2018. Domestic industry representatives have 60-day windows to request continuation of the 25% additional duties targeting technology transfer, intellectual property, and innovation practices.

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Malaysia court rules service fees and late-payment interest on credit sales constitute business income

12 May, 2026

Malaysia's High Court has ruled that service charges and late-payment interest from credit sales should be classified as business income under Section 4(a) rather than passive interest income under Section 4(c) of the Income Tax Act 1967, overturning a decision by the Special Commissioners of Income Tax in a case decided on 17 March 2026.

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