🇨🇦 Canada 🇺🇸 US

Canada enacts retaliatory tariffs on US imports as trade negotiations collapse

08 September, 2026

Canada has imposed retaliatory tariffs of 15% to 50% on approximately USD 28 billion of US goods after trade negotiations with Washington stalled, escalating an 18-month dispute and raising fresh...

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🇦🇺 Australia

Australia proposes 30% minimum tax on discretionary trusts to curb income splitting

08 September, 2026

Australia's Treasury has released an exposure draft introducing a 30% minimum tax on discretionary trust income from 1 July 2028, closing a long-standing tax planning avenue. The reform allows eligible trusts to transition through either a non-discretionary election or a three-year rollover relief window ending 30 June 2030. 

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🇬🇧 UK

UK proposes compulsory foreign permanent establishment exemption from 2027

08 September, 2026

The UK government’s draft legislation would make the foreign permanent establishment exemption mandatory for UK-resident companies from 2027, introduce a new international test for permanent establishment status, and impose transitional rules for certain carried-forward losses and capital allowances.

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🇮🇸 Iceland

Iceland: 2027 budget proposes financial institution tax hike, VAT measures

08 September, 2026

Iceland’s 2027 Budget proposes higher financial institution taxes, VAT increases, new tourism charges, and adjustments to tax indexation and vehicle kilometre fees, with measures aimed at broadening the tax base and supporting a return to an ISK 4.7 billion Budget surplus in 2027.

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🇰🇪 Kenya

Kenya: KRA launches tax amnesty programme through end of 2026

08 September, 2026

Kenya’s tax amnesty waives interest, penalties and fines on eligible tax liabilities through 31 December 2025, provided taxpayers settle outstanding principal tax and file overdue returns by 31 December 2026, with eligible taxpayers receiving relief automatically through iTax.

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🇺🇸 US

US: NYC extends pied-à-terre tax exemption deadline to October

08 September, 2026

New York City has extended the deadline for property owners to apply for exemptions from the non-primary residence surcharge to 6 October 2026, as ongoing litigation and newly available tax data prompt the Department of Finance to provide additional time for affected owners to establish eligibility.

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🇳🇱 Netherlands

Netherlands updates Box 3 tax decree to incorporate rebuttal scheme

08 September, 2026

The Netherlands has issued Decree No. 2026-2613, replacing the 2024 decree on Box 3 taxation of savings, debts, and investments. The decree incorporates the counter-evidence scheme, allowing taxpayers to be taxed on actual returns, while clarifying the treatment of tax debts, temporary bank balances, and primary residence transactions.

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OECD releases comments on proposed amendments to digital platform reporting rules

07 September, 2026

The OECD has published stakeholder comments on proposed changes to its Model Reporting Rules for Digital Platforms, with contributors calling for clearer intermediary definitions, reduced cascading reporting, higher seller thresholds, and greater alignment with the EU’s DAC7 framework.

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🇷🇺 Russia

Russia expands tax monitoring access for legal successors from September 2026

07 September, 2026

Russia has eased entry rules for its tax monitoring regime, allowing legal successors of reorganised companies to join the scheme even where they fall short of the standard revenue and asset thresholds.

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🇸🇬 Singapore

Singapore: IRAS clarifies tax treatment of loan waiver

07 September, 2026

IRAS has ruled that a loan waiver is a capital transaction, with any resulting gain not subject to tax under section 10(1) of the Income Tax Act 1947.

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