China grants corporate tax deferral on equipment swaps for chipmakers, machine tool firms through 2028
China's Ministry of Finance, State Taxation Administration, National Development and Reform Commission, and Ministry of Industry and Information Technology issued Announcement No. 23 of 2026 on 31 July 2026, establishing a temporary corporate income
See More
US: Treasury, IRS consults CFC election to simplify Section 987 foreign currency rules
The US Department of the Treasury and the IRS have initiated a public consultation regarding proposed regulations (REG-103844-26) allowing controlled foreign corporations (CFCs) to elect not to compute or recognise foreign currency gain or loss
See More
Brazil announces deadline to apply for the Simplified National Tax Regime
Brazil's Federal Revenue Service (RFB) announced, on 19 August 2026, that companies wishing to join the Simplified National Tax Regime (Simples Nacional) must submit applications in September 2026 rather than January 2027. The change stems from
See More
Slovak Republic: Government approves draft bill to implement Side-by-Side package
The Slovak Republic government has approved a draft bill amending Act No. 507/2023 Coll., which implements the EU Minimum Taxation Directive. The draft bill was approved by Government Resolution No. 320/2026 on 19 August 2026. The bill introduces
See More
Netherlands tax authority updates legal merger framework for 2026
The Netherlands published Decree No. 2026-262956 of 6 August 2026, issued by the State Secretary for Finance, setting out tax-neutral restructuring relief for qualifying legal mergers. The decree outlines the updated 2026 regulatory framework for
See More
Egypt: ETA unveils plans introduction of tax Sukuk
Egypt is preparing to introduce an optional Tax Sukuk that taxpayers can subscribe to and later use to settle future tax liabilities, as the government seeks to raise domestic liquidity and encourage tax compliance. The Egypt Tax Authority (ETA)
See More
US: IRS expands Section 45Q safe harbour to cover EOR projects and recapture calculations
The US Internal Revenue Service (IRS) has issued Notice 2026-50, expanding and extending the safe harbour previously established under Notice 2026-1. This administrative notice establishes an updated safe harbour for taxpayers claiming the Section
See More
Nigeria introduces new deep offshore tax incentive framework to attract USD 50 billion investment
The Nigerian State House has announced that President Bola Ahmed Tinubu approved a new deep offshore investment framework on 11 August 2026. The reform seeks to attract up to USD 50 billion in new investment into Nigeria’s oil and gas sector by
See More
Bahrain: NBR publishes guidance on DMTT returns
Bahrain’s National Bureau for Revenue (NBR) has published Version 1.0 of its DMTT Return Filing Manual, setting out procedures for filing, payment and refunds under the 15% Domestic Minimum Top-up Tax (DMTT). The regime applies from 1 January 2025
See More
Sweden: Ministry of Finance proposes new tax relief for R&D investment
Sweden’s Ministry of Finance has proposed a new voluntary tax incentive that would allow businesses to claim an additional deduction of 200% of eligible R&D wage costs, taking the total deduction to 300% when combined with the ordinary
See More
India publishes disclosure scheme rules for foreign assets of small taxpayers
The Indian Central Board of Direct Taxes (CBDT) Ministry of Finance, notified the Foreign Assets of Small Taxpayers - Disclosure Scheme Rules, 2026 on 14 August 2026, under Section 143 of the Finance Act, 2026. The rules provide the procedural
See More
France expands tax credit for international film, TV productions
The European Commission has approved changes to France’s tax credit for foreign film and audiovisual productions, with the State aid authorisation published in the Official Journal of the European Union on 29 July 2026. The reform expands the
See More
New Zealand clarifies corporate income tax treatment of amalgamations
New Zealand Inland Revenue issued Technical Decision Summary No. 26/11 on 14 August 2026, setting out the corporate income tax consequences of a proposed amalgamation involving several New Zealand resident companies under common ownership. The
See More
Sweden proposes Pillar Two Safe Harbours for MNE Groups
Sweden’s Ministry of Finance has proposed amendments and additions to the Swedish Additional Tax Act (lagen om tilläggsskatt) to align the legislation with the latest Administrative Guidance issued by the OECD/G20 Inclusive Framework on
See More
US announces tax relief for individuals, businesses in Northern Mariana Islands affected by typhoon
The US Internal Revenue Service (IRS) has announced, on 7 August 2026, tax relief for individuals and businesses in the Commonwealth of the Northern Mariana Islands affected by Super Typhoon Bavi that began on 4 July 2026. These taxpayers now have
See More
US: Treasury, IRS issue final backup withholding regulations for third-party network transactions
The US Department of the Treasury and the IRS have issued final regulations (TD 10053) adopting, without changes, the proposed regulations (REG-112829-25) published on 9 January 2026. The regulations align the backup withholding rules for
See More
Ukraine clarifies tax breaks for defence city residents under DIC support regime
Ukraine’s State Tax Service published Information Letter No. 3/2026 on 11 August 2026, setting out the tax incentives available to residents of the Defence City regime for enterprises in the defence-industrial complex (DIC). The regime was
See More
Taiwan clarifies business tax rules for non-profits selling goods or services
Taiwan's National Taxation Bureau of the Central Area has clarified how non-profit educational, cultural, public welfare and charitable institutions must report and pay business tax when they sell goods or services, following an enquiry from an
See More