Taiwan clarifies CFC loss deduction filing, documentation requirements
Taiwan’s National Taxation Bureau of Taipei, Ministry of Finance, stated that the Controlled Foreign Corporation (hereinafter referred to as CFC) system has been in effect since 2023. Profit-seeking enterprises reporting CFC's losses must provide
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Belgium gazettes programme law, introduces increased withholding tax rate
Belgium has gazetted the Programme Law of 30 May 2026 on 1 June 2026, a comprehensive legislative act designed to implement diverse fiscal and administrative reforms. This legislation introduces significant taxation adjustments, specifically
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Denmark reduces corporate tax in government coalition agreement
Denmark has published the four-party government coalition policy agreement on 2 June 2026, setting out a broad package of proposed tax reforms aimed at increasing national wealth, strengthening competitiveness, and encouraging work and
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France approves GloBE Information Exchange Agreement under Pillar Two for automatic tax data exchange
The French Council of Ministers approved the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA) under Pillar Two of the OECD/G20 Inclusive Framework on BEPS on 27 May 2026. The GIR MCAA is designed to
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Brazil: RFB issues guidance on PIS/Cofins credits during CBS transition
Brazil’s tax administration, the Federal Revenue Service (RFB) has clarified on 3 June 2026 that existing PIS/Pasep and Cofins tax credits will remain valid and usable even after these contributions phase out with the introduction of the
See MoreFrance clarifies approach to centralised filing, exchange of GloBE information return
France’s Directorate General of Public Finances (DGFiP) has clarified its position on the centralised filing and exchange of the GloBE Information Return (GIR), confirming its intention to apply a transitional relief framework aligned with the
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Bolivia: National Assembly implements tax transparency, amnesty law
Bolivia’s National Assembly has enacted the Tax Transparency and Amnesty Law 1733 (Ley No. 1733), which was published in the Official Gazette on 28 May 2026. Law 1733 introduces broad tax administration and procedural measures aimed at waiving
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US: Treasury, IRS issue Section 892 proposed regulations to provide grandfathering protection and transitional relief to sovereign investors
The Department of the Treasury and the Internal Revenue Service announced on 29 May 2026 that it has issued additional guidance addressing the applicability dates of recent proposed regulations under Section 892 of the Internal Revenue Code, which
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Turkey clarifies domestic minimum corporate income tax, REIT exemption rules
Turkey’s Revenue Administration has issued General Communiqué No. 25, providing detailed implementation guidance on recent amendments to the Corporate Tax Law introduced by Law No. 7524 and Law No. 7566. The Communiqué, published in the
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UK: HMRC updates DOTAS guidance on disclosure rules, reporting duties, and penalties
The UK HM Revenue & Customs (HMRC) has revised its guidance outlining the statutory requirements for the Disclosure of Tax Avoidance Schemes (DOTAS) regime on 29 May 2026. The Disclosure of Tax Avoidance Schemes (DOTAS) regime is designed to
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South Africa: SARS updates global minimum tax return, payment guidance
The South African Revenue Service (SARS) has issued revised guidance and additional instructions for the submission of Global Minimum Tax (GMT) Returns and the payment of related liabilities. The Global Anti-Base Erosion (GloBE) Model
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El Salvador broadens deductibility of business costs, expenses under new tax decree
El Salvador has released a more taxpayer-friendly interpretation of how businesses can deduct operating costs. On 11 May 2026, the Legislative Assembly issued Decree No. 568, replacing a seven-year-old rule that had restricted deductions in several
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Bolivia: SIN further extends 2025 filing deadline for financial statements, transfer pricing documentation
Bolivia’s National Tax Service (SIN) has issued Resolution No. 102600000017 of 27 May 2026 to further extend the deadline for the digital submission of financial statements, the annual report, the transfer pricing study, and the related-party
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Czech Republic sets 1 July deadline for top-up tax information returns as OECD guidance takes effect
The Czech Financial Administration released a statement on the Pillar Two global minimum tax forms recently approved under Decree No. 68/2026, published in the Official Gazette on 20 May 2026. A key point of the statement is the confirmation that
See MoreBelgium gazettes model form for qualified domestic minimum top-up tax
Belgium has gazetted the Royal Decree of 25 May 2026, which officially approves the model form for the supplementary national tax return for the 2024 tax year. The supplementary national tax represents Belgium’s qualified domestic minimum
See MoreUS: IRS releases calculator for long-term contract interest computations
The US Internal Revenue Service announced, on 29 May 2026, the release of a new calculator to help businesses working on large, multi-year construction or manufacturing projects more easily figure interest related to those contracts. The
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UK updates qualifying Pillar Two jurisdictions, domestic top-up tax lists
The UK has updated its list of recognised jurisdictions and taxes under the Pillar Two framework, adding four jurisdictions to its recognised Qualified Domestic Minimum Top-up Tax (QDMTT) and accredited QDMTT safe harbour lists while revising the
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Belgium implements optional withholding tax system for capital gains on financial assets
Belgium’s Ministry of Finance has published a Royal Decree implementing the Capital Gains Tax on shares and crypto assets from 2026. The decree of 18 May 2026 was officially published in Official Gazette No. 2026003829 on 27 May 2026. A central
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