UK: HMRC clarifies electricity generator levy increase to 55% from July 2026
The UK’s HM Revenue & Customs has published a policy paper providing clarification of the increase in the Electricity Generator Levy (EGL) on 17 June 2026. As previously announced, the EGL rate will rise from 45% to 55% with effect from 1
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Italy sets 2026 conventional wages for expatriate workers
Italy has gazetted the Decree of 29 May 2026 on 11 June 2026, establishing the 2026 conventional remuneration levels used for both social security contributions and income tax calculations for Italian workers employed abroad. The decree, adopted
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US: IRS cuts corporate tax interest rates for Q2 2026
The US Internal Revenue Service (IRS) has confirmed that interest rates for the second quarter dropped beginning 1 April 2026. According to the Revenue Ruling 2026-5, the IRS has set out revised interest rates that will apply for the April–June
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UAE: MoF releases e-invoicing guidelines version 1.1, adding storage and advance payment/retention clarifications
The UAE Ministry of Finance has issued the UAE Electronic Invoicing Guidelines Version 1.1, dated 1 June 2026. The key updates introduced in Version 1.1 include the addition of: Appendix 4 - Further guidance in respect of storage obligations
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Australia raises small business GGT threshold, unveils startup tax concession plans
The Australian government has announced additional implementation details for its tax reform package on 18 June 2026 following an extensive first phase of post-Budget consultations. The package includes a significant expansion of small business
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Switzerland: Parliament approves VAT hike to support AHV pension costs
Switzerland's parliament has approved a constitutional amendment that will allow an increase in Value Added Tax (VAT) rates from 2028 to help finance the country's newly introduced 13th monthly pension payment under the Old-Age and Survivors'
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Dominican Republic consults ITBIS withholding exemption for e-invoicing taxpayers
The Dominican Republic’s General Directorate of Internal Taxes (DGII) has launched a public consultation on a draft General Norm that would exempt authorised electronic invoicing taxpayers from the withholding regime for the Tax on the Transfer of
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Egypt introduces digital real estate tax platform, compliance incentives
Egypt has introduced a package of electronic real estate tax services and taxpayer relief measures, including the launch of its first mobile application for real estate tax services, expanded exemptions for primary residences and incentives for
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Turkey extends preferential WHT treatment for treasury-backed securities
Turkey has extended the application period of the 0% withholding tax (WHT) rate on income and gains derived from government bonds, Treasury bills and certain lease certificates by six months, following the publication of Presidential Decision No.
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Luxembourg clarifies Pillar Two compliance, registration, transitional requirements
Luxembourg’s Administration of Direct Contributions (ACD), on 17 June 2026, published a Frequently Asked Questions (FAQ) document providing further guidance on the implementation of the Pillar Two Law of 22 December 2023 on minimum effective
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Philippines: BIR begins preparations for implementation of Pillar Two QDMTT
The Philippines Bureau of Internal Revenue (BIR) announced on 11 June 2026, through a Facebook post, that it has begun preparations for the possible implementation of the proposed Qualified Domestic Minimum Top-Up Tax (QDMTT), a measure pushed by
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Finland establishes permanent tax residency framework for foreign investment funds
The President of Finland ratified a law that brings amendments to the Income Tax Act concerning the tax residency rules for certain foreign investment funds on 16 June 2026. Under Finland’s general rules, a foreign entity can be treated as a
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Singapore updates GST InvoiceNow guidance ahead of nationwide rollout
Singapore's Inland Revenue Authority (IRAS) has updated its guidance on the GST InvoiceNow Requirement, providing clearer implementation details and expanded support measures as the country moves towards mandatory e-invoicing for all GST-registered
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CJEU Advocate General supports Luxembourg’s ATAD transposition on securitisation entities from interest limitation rules
The Advocate General (AG) Juliane Kokott of the Court of Justice of the European Union (CJEU) has issued her opinion in Case C-138/24, involving an infringement claim by the European Commission against the Grand Duchy of Luxembourg on 18 June
See MoreSwitzerland completes MLI procedures for Argentina treaty, effective from 2027
Switzerland has completed the domestic steps required for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) to take effect for its covered tax treaty with Argentina, according to
See MoreTurkey: Revenue Administration updates guidance on accommodation tax rules
Turkey's Revenue Administration, on 19 June 2026, published an updated Accommodation Tax Guide, providing revised explanations and examples on the application of the Accommodation Tax (Konaklama Vergisi) following a temporary reduction in the tax
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Sweden expands tonnage tax regime, eases rules for shipping companies
Sweden's Parliament has approved a package of reforms to the country's tonnage taxation system, broadening access to the regime and introducing more flexible rules for shipping companies. The legislation was adopted on 11 June 2026 and is
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Poland gazettes notice identifying 44 jurisdictions with QIIR, 49 with QDMTT under GloBE rules
Poland has issued a notice identifying jurisdictions, other than Poland, that have introduced a qualified income inclusion rule (QIIR) or a qualified domestic minimum top-up tax (QDMTT), or that satisfy the QDMTT safe harbour conditions. The notice,
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