Korea (Rep.) updates Pillar Two, CFC rules among other measures in 2026 Tax Reform Plan
Korea (Rep.)'s Ministry of Economy and Finance (MoEF) has unveiled its 2026 Tax Reform Plan, proposing a broad package of tax measures aimed at strengthening domestic manufacturing, supporting innovation, expanding tax relief for households and
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UAE: FTA issues registration, deregistration rules under Pillar Two Top-up tax
The UAE Federal Tax Authority (FTA) issued Federal Tax Authority Decision No. 12 of 2026, establishing the registration, deregistration and notification requirements for entities subject to the domestic Top-up Tax under Cabinet Decision No. 142 of
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Romania: Finance ministry unveils automatic 3% tax rebate for microenterprises
Romania’s Ministry of Finance, in a press release, has approved the procedural mechanism for delivering a 3% rebate on profit and income taxes to microenterprises for the 2025 fiscal year, implementing Government Emergency Ordinance no. 8/2026.
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Taiwan reminds businesses of documentation requirements for CFC FVPL tax deferral election
Taiwan's Ministry of Finance, in a notice on 4 August 2026, has reminded enterprises that elect to defer the recognition of unrealized gains and losses from fair value through profit or loss (FVPL) financial instruments held by their Controlled
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Australia: Treasury consults on CGT, Negative Gearing Tranche 2
The Australian Treasury has launched a public consultation on the Capital Gains Tax and Negative Gearing – Tranche 2 legislation on 4 August 2026. Comments on the consultation are due by 21 August 2026. In the 2026–27 Budget, the
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UAE: FTA reminds small business relief beneficiaries of corporate tax compliance obligations
The UAE Federal Tax Authority (FTA), in a notice on 3 August 2026, has reminded taxable persons eligible for small business relief that they must submit simplified corporate tax returns within prescribed legal deadlines. FTA has emphasised that
See MoreAustralia: ATO sets final reminder for TPAR, ends paper lodgments
The Australian Taxation Office (ATO) has issued a final reminder that businesses and government entities making payments to contractors must lodge their Taxable Payments Annual Report (TPAR) on 3 August 2026. The ATO has also announced that it no
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Australia: ATO updates Pillar Two guidance on GIR lodgment, joint ventures
The Australian Taxation Office (ATO) has updated its guidance on Lodging, Paying and Other Obligations for Pillar Two on 4 August 2026. The revised guidance introduces new sections covering the lodgment of the GloBE Information Return (GIR),
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Malaysia extends foreign-sourced income tax exemption to end-2030
Malaysia has published the Income Tax (Exemption) (No. 3) Order 2024 (Amendment) Order 2026 in the Official Gazette on 29 July 2026, under which the exemption period in the Income Tax (Exemption) (No. 3) Order 2024 has been extended from 31 December
See MoreUAE sets out 2027–29 finance strategy with corporate tax, digital currency, AI reforms
The UAE Ministry of Finance has published its Strategic Plan for 2027–2029, outlining a roadmap to strengthen the country's fiscal framework, improve government financial management, and reinforce its international economic position. The plan
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Turkey introduces nuclear energy tax exemptions, establishes vehicle excise floors
Turkey has enacted Law No. 7590, introducing several tax measures, including reforms to the special consumption tax (SCT) on motor vehicles, new tax incentives for the nuclear energy sector, and an extension of employment support measures. The law
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Bulgaria enacts State Budget Act 2026 introducing gambling affiliate tax, expanded child tax relief
Bulgaria's National Assembly has enacted the State Budget Act for 2026, setting the country's strategic financial direction. It was passed by the National Assembly on 24 July 2026, approved by the President on 29 July 2026, and officially
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Philippines launches EVIS programme with up to 40% investment support for EV manufacturers
The Philippines has introduced a new package of tax incentives for the electric vehicle sector under the Electric Vehicle Incentive Strategy (EVIS) Programme, approved through Executive Order No. 121. Executive Order No. 121 establishes the EVIS
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Argentina extends tax enforcement suspension for healthcare providers, non-profit organisations until end-2026
Argentina's Customs Collection and Control Agency (ARCA) announced, on 31 July 2026 ,that it has extended the suspension of the initiation of tax enforcement proceedings and the execution of precautionary measures until 31 December 2026, in
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Lebanon grants tax penalty reductions on eligible assessments until end-2026
Lebanon's Ministry of Finance (MoF) has issued Decision No. 642/1 on 10 July 2026, granting reductions in tax penalties for eligible tax assessments issued from 16 November 2022, the publication date of the 2022 Budget Law. The measure, issued
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UK updates guidance on transitional approach to Pillar Two GIR filing, exchange
The UK’s His Majesty’s Revenue and Customs (HMRC) has updated its Pillar Two guidance to confirm the adoption of the OECD’s transitional approach for the central filing and exchange of the GloBE Information Return (GIR). Under the updated
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US: IRS grants Form 990 filing relief to foreign FIFA World Cup 2026 participants
The US Internal Revenue Service (IRS) has issued Revenue Procedure 2026-28, exempting certain foreign FIFA member associations that participated in the FIFA World Cup 2026 from filing US Federal Form 990 (Return of Organisation Exempt From Income
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Qatar: GTA opens registration for global, domestic minimum tax (Pillar Two) on Dhareeba platform
Qatar’s General Tax Authority has announced the launch of the Global and Domestic Minimum Tax (Pillar Two) Registration Service through the Dhareeba platform on 2 August 2026. The GTA invites multinational enterprise (MNE) groups that fall
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