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

Washington and Beijing shift toward a practical trade framework focusing on USD 30 billion in tariff cuts for non-sensitive goods, abandoning previous demands for China to overhaul its economic system as bilateral trade tensions ease.

Hong Kong's Legislative Council has approved sweeping tax relief measures that will benefit over 2 million taxpayers and 170,000 businesses, reducing government revenue by more than HKD 11 billion through a combination of one-off rebates and permanent allowance increases. 

The Slovak parliament has rejected legislation that would have raised VAT registration thresholds from EUR 50,000 to EUR 83,000, maintaining the current requirements for small businesses despite efforts to reduce their administrative burden. 

Brazil’s President Luiz Inácio Lula da Silva has signed a decree removing the federal tax on imports below USD 50, with the measure aimed at reducing costs on cross-border e-commerce purchases and supporting lower-income consumers. The decision, published in the Federal Official Gazette, also allows adjustments to import tax rates on higher-value shipments.

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).