Italy: Supreme Court exempts certain gratuitous intragroup guarantees from transfer pricing rules

19 May, 2026

Italy's Supreme Court has ruled that subsidiaries are not required to charge parent companies for providing financial guarantees when legitimate economic reasons exist, rejecting the Revenue Agency's attempt to impose...

🇮🇹 Italy

🇷🇼 Rwanda

Rwanda establishes formal APA framework under new transfer pricing rules

19 May, 2026

Rwanda has implemented new transfer pricing regulations through Ministerial Order No. 003/26/10/tc of 29 April 2026, introducing a formal framework for Advance Pricing Agreements and replacing the 2020 rules that ceased application in October 2023.

Moldova: STS introduces electronic transfer pricing information form ahead of June deadline

19 May, 2026

Taxpayers with affiliated transactions exceeding MDL 20 million must now use the new digital platform in the Electronic Declaration system to submit Transfer Pricing Information for 2025, with the deadline set for 25 June 2026. The State Tax Service has also provided alternative submission methods for those needing to correct or file late returns for the 2024 fiscal period.

🇨🇴 Colombia

Colombia revises tax decree, reinforces transfer pricing compliance rules

19 May, 2026

The Colombian Ministry of Finance and Public Credit published a revised version of Decree No. 1625 of 2016 on 8 May 2026, consolidating Colombia’s tax regulations including income tax, VAT, withholding tax, transfer pricing, and the SIMPLE regime. It also updates rules on key regimes, incentives, compliance procedures, electronic invoicing, and reporting requirements covering RTE, PES, ZOMAC, Obras por Impuestos, and related administrative tax processes.

OECD issues new guidance on Pillar Two global minimum tax compliance

19 May, 2026

The OECD has introduced relief measures for multinational corporations filing Global Minimum Tax returns, allowing central filing in any of 33 operationally ready jurisdictions while waiving local penalties if deadlines are met. The guidance, published on 18 May 2026, addresses coordination challenges ahead of the 30 June 2026 filing deadline and updates qualification records to include four new jurisdictions implementing the 15% minimum tax framework.

🇷🇴 Romania

Romania simplifies RO e-Invoice system for small businesses, individuals

19 May, 2026

Romania's Ministry of Finance has backed amendments to simplify the RO e-Invoice system, exempting individuals using personal identification codes, small-scale farmers, and foreign cultural institutes from mandatory electronic invoicing requirements while maintaining digitalisation goals.

🇮🇹 Italy

Italy opens additional tax credit for Southern investment zone companies

19 May, 2026

The Revenue Agency approved tax code 7041 for businesses seeking to claim supplementary relief on 2025 capital investments made in Southern Italy's Special Economic Zone.

🇭🇰 Hong Kong

Hong Kong: Legislative Council to consider Stamp Duty (Amendment) Bill 2026

19 May, 2026

Hong Kong's Legislative Council will convene on 20 May 2026 to resume the Second Reading debate on the Stamp Duty (Amendment) Bill 2026. The meeting will also feature motions on strengthening Hong Kong's role as an offshore Renminbi business hub and increasing average living space in the Northern Metropolis to create a more livable metropolitan area.

🇦🇹 Austria

Austria consults parcel tax for large online retailers under draft bill

19 May, 2026

The Austrian Ministry of Finance has initiated a consultation on a draft bill introducing a parcel tax on domestic deliveries from online shopping, aimed at supporting planned VAT reductions on selected food items and encouraging more sustainable purchasing patterns. The consultation period runs from 11 May 2026 to 26 May 2026.

🇺🇦 Ukraine

Ukraine updates military levy rules, extends duration, clarifies budget allocation

19 May, 2026

Ukraine extends military levy application period under Tax Code amendments Ukraine extends the military levy period to three years after martial law under Law No. 4835-IX.