Turkey approves major tax package with corporate rate cuts, foreign income exemptions

New Zealand Inland Revenue has opened consultation on a draft interpretation statement clarifying GST treatment of arranging and brokering financial products by intermediaries. It outlines when such activities qualify as exempt “arranging” under the Goods and Services Tax Act 1985 and how they are distinguished from “advising” services.

Sweden’s parliament has approved legislation introducing a withholding tax exemption on dividends paid to foreign states and equivalent subnational public entities, aligning domestic rules with EU free movement of capital requirements and extending the relief to qualifying EEA and non-EEA jurisdictions from 1 July 2026.

Taiwan's tax authority warns businesses that missing CFC financial statement deadlines could forfeit valuable tax benefits, including loss carryforwards and deferred recognition options, urging timely extension applications before filing periods expire.

The Italian government rolls out temporary fuel tax cuts and expanded financial relief for transport and agricultural sectors, with measures including tripled support budgets and extended payment deadlines running through early June 2026.

The Romanian government has implemented new mining tax rates effective 15 May 2026, raising fees by 7.3% across prospecting, exploration, and exploitation activities, with progressive increases for exploration licenses to prevent resource hoarding.

The US has imposed sweeping tariffs of up to 100% on imported branded pharmaceuticals under Proclamation 11020, citing national security risks from foreign supply chain dependence — but companies that agree to move production to American soil, or enter into pricing deals with the government, can secure significantly reduced or even zero-tariff treatment.