Sweden: MOF proposes direct Pillar Two top-up tax liability for joint ventures
Sweden’s Ministry of Finance has proposed amendments to the Additional Tax Act under Pillar Two that would make Swedish-resident joint ventures and their subsidiaries directly liable for the full amount of Swedish qualified domestic minimum top-up
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Lithuania: VMI clarifies withholding tax on income from foreign entities
Lithuania's State Tax Inspectorate (VMI) has issued guidance on 20 October 2026, clarifying how income received by foreign entities from Lithuanian sources is taxed. Income earned through a permanent establishment is taxed at the standard
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Netherlands: Parliament approves 2027 Omnibus Tax Bill
The Netherlands' upper house of parliament approved the 2027 Omnibus Tax Bill (Fiscale Verzamelwet 2027) on 27 October 2026. The lower house adopted the bill on 6 October 2026. The Dutch Fiscal Omnibus Act 2027 updates several tax rules, with
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Austria consults Pillar Two safe harbours, tax law amendments
Austria's Ministry of Finance has opened consultation, on 21October 2026, on the draft federal bill Abgabenänderungsgesetz 2026 (AbgÄG 2026), which amends 22 tax laws, duties and related procedural statutes. Pillar Two safe harbours The
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Kenya introduces new withholding tax rules
Kenya issued the Income Tax (Withholding Tax) Rules 2026 under Legal Notice No. 167, establishing procedures for calculating, deducting, declaring and remitting withholding tax, along with dispute resolution and recovery mechanisms. The rules are
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Portugal proposes lower corporate tax rate and extends tax incentives in 2027 budget
Portugal’s parliament approved Proposed Law No. 110/XVII/2.ª, which approves the State Budget for 2027, at first reading on 28 October. The centre-right minority government secured passage after the opposition Socialist Party abstained, despite
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UK Budget 2026 sets out major corporate, personal and indirect tax reforms
UK’s Chancellor of the Exchequer John Healey presented Budget 2026 to Parliament on 28 October 2026. Most of the measures will be legislated through Finance Bill 2026-27, while others will be introduced through secondary legislation or future
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Italy proposes corporate tax increases in 2027 budget package
Italy’s Council of Ministers, following a proposal by Minister of Economy and Finance Giancarlo Giorgetti, approved the draft law for the State Budget 2027 and the multi-year framework for 2027–29. As the final financial bill put forward
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Algeria proposes corporate tax, VAT and digital reporting reforms in 2027 Finance Bill
Algeria’s Council of Ministers approved the Finance Bill for 2027 on 4 October 2026, which began parliamentary examination on 13 October 2026. The proposed measures remain subject to parliamentary adoption. The Finance Bill for 2027 provides
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Malta proposes corporate tax cut, family relief in 2027 Budget
Malta’s Finance Minister Clyde Caruana presented the 2027 Budget to parliament on 26 October 2026, outlining tax measures aimed at supporting businesses and households while addressing the costs associated with tourism and
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Cyprus extends Pillar Two global minimum tax filing, payment deadlines for FY 2023–24
The Cyprus Tax Department has announced an extension of the filing and payment deadlines under the Pillar Two global minimum tax rules for the first fiscal year, defined as a fiscal year commencing between 31 December 2023 and 30 December 2024. The
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Belgium clarifies capital gains tax withholding rules
Belgium's tax administration, FPS Finance, has published Circular Letter 2026/C/94 on 20 October 2026, clarifying withholding tax obligations under the new capital gains tax regime for financial assets, arising from the new capital gains tax on
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US: IRS grants temporary relief on dyed diesel reporting
The US Internal Revenue Service (IRS) announced on 21 October 2026 that it has granted temporary administrative relief from certain reporting and recordkeeping rules tied to the tax imposed under section 4041(a) of the Internal Revenue Code. The
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New Zealand issues draft guidance on forestry income tax
New Zealand’s Inland Revenue has released an exposure draft (Draft Interpretation Statement IS XX/XX), titled "Income Tax – Forestry", which provides comprehensive guidance on how the Income Tax Act 2007 applies to forestry activities and timber
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Kenya: KRA increases fringe benefit and deemed interest rates to 9%
The Kenya Revenue Authority (KRA) has issued a public notice on 22 October 2026 on the market interest rate for fringe benefit tax purposes and the deemed interest rate for certain non-resident loans for October, November, and December 2026, which
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Italy rules on retroactive accounting changes and Pillar Two scope
The Italian Tax Authority has ruled that a multinational group cannot use 2023 revenue figures restated under a new accounting standard to test whether it falls within the scope of the Global Minimum Tax (GMT). In Risposta n. 188/2026, the authority
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Austria consults Tax Amendment Act 2026 with Pillar Two safe harbours
Austria’s Federal Ministry of Finance announced a consultation on 22 October 2026 on the draft Tax Amendment Act 2026 (Abgabenänderungsgesetz 2026, or AbgÄG 2026) on 21 October 2026. The bill would amend 22 federal laws, with the Pillar Two
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New Zealand: IR consults on loss carry-forward rules after ownership breach
New Zealand’s tax authority, Inland Revenue (IR), opened consultation on 16 October 2026 on an exposure draft, PUB00535 (Draft QWBA QB XX/XX), which clarifies how the loss carry-forward rules apply when ownership continuity is breached. Titled
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