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

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.

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.

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.

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.

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.

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.