US: Appeals Court grants temporary stay on ruling against Trump’s global tariffs

The Swedish Ministry of Finance has drafted a bill to further lower taxes on petrol and diesel. This measure is a response to rising fuel prices caused by geopolitical instability, specifically citing conflicts in the Middle East and a war in Iran.

SUNAT introduces Mutual Agreement Procedure (MAP) Guidance Version 2.0 (2026), replacing the 2023 framework and setting out updated rules for resolving tax treaty disputes under Double Taxation Treaties (DTTs).

The European Commission has approved Ireland’s enhanced Section 481 Film Tax Credit, including a Visual Effects (VFX) Uplift, under State aid rules, introducing a 40% credit for qualifying VFX expenditure as part of Budget 2026 measures to strengthen the sector’s competitiveness.

Serbia has updated its Rulebook on Electronic Invoicing, introducing revised procedures for system access, VAT recording, invoice issuance, and compliance deadlines — with the changes taking effect from tax periods beginning 1 April 2026.

Taiwan’s Taipei National Taxation Bureau has reminded businesses that VAT filing is required every two months even in periods with no sales revenue, as tax liability is determined by the balance of output and input tax. Late submission can still attract penalties regardless of whether tax is payable, as illustrated in a case involving a company fined for delayed filing despite zero sales.

Revenu Quebec announced on 4 May 2026 that the small business deduction rate for Canadian-controlled private corporations will increase from 8.3% to 9.3% for taxation years beginning after 29 April 2026. The change reduces the minimum tax rate on eligible income from 3.2% to 2.2%, while maintaining the CAD 500,000 business limit and existing conditions related to paid-up capital and investment income thresholds.