Philippines: BIR extends 2025 eAFS tax return attachment filing deadline
The Philippine Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 046-2026, which outlines the extension of the deadline for submitting 2025 Audited Financial Statements (AFS) and related attachments via the Electronic
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UK: HMRC issues transitional guidance on Pillar Two GIR filing, exchange
The UK’s His Majesty’s Revenue and Customs (HMRC) issued new guidance on 19 May 2026 outlining a transitional approach to Global Information Return (GIR) filing and exchange under the OECD’s Pillar Two framework. The guidance follows the
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Turkey amends withholding tax rules for nuclear construction projects
Turkey reduced the withholding tax rate on progress payments for nuclear power plant construction and repair work from 5% to 1% under Presidential Decision No. 11344 on 18 May 2026. The Decision amends withholding tax provisions under article 94
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Poland: Sejm amends mandatory disclosure rules, removes reporting for domestic arrangements
Poland's Sejm (lower house of parliament) approved a government bill on 15 May 2026 that introduces significant changes to tax administration, aimed at reducing bureaucracy and streamlining processes for taxpayers. The legislation has now been
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Taiwan: Tax bureau reminds firms of CFC financial statement filing deadline
Taiwan’s Northern Taiwan National Taxation Bureau of the Ministry of Finance announced that the filing period for the 2025 profit-seeking enterprise income tax return is from May 1 to May 31, 2026 (extended to June 1 if the deadline falls on a
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Jordan: Tax Department extends settlement period for outstanding tax liabilities
Jordan’s Income and Sales Tax Department (ISTD) has urged taxpayers with outstanding liabilities due by 31 December 2024 to use expanded settlement options under a government decision extending the Tax Settlement and Reconciliation Committee’s
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US: Treasury designates eight Middle Eastern countries for international boycott reporting
The US Treasury has designated eight countries requiring international boycott reporting, with Form 5713 filings mandatory for businesses operating in or connected to these nations. The US Department of the Treasury issued a Federal Register
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Taiwan clarifies CFC document extension rules for corporate tax filings
Taiwan’s Central District National Taxation Bureau of the Ministry of Finance clarified that profit-seeking enterprises required to report income from Controlled Foreign Corporations (CFCs) must disclose relevant information and attach supporting
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Slovenia opens Pillar Two top-up tax returns on eDavki portal
The Financial Administration of Slovenia (FURS) announced that the eDavki portal began accepting submissions of the GloBE-ODPD return and the GloBE-OPD return on 15 May 2026. The GloBE-ODPD return is intended for reporting top-up tax under the
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Hungary issue global minimum tax reporting guidelines
Hungary’s tax authorities released comprehensive guidance on 13 May 2026 addressing the reporting requirements for global minimum tax obligations. This guidance provides taxpayers with clarity on the detailed data submissions required under
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Greece enacts DAC8, DAC9, Pillar Two tax measures
Greece has enacted Law No. 5301/2026, introducing new crypto-asset reporting rules, Pillar Two tax measures, VAT amendments, and changes to shipping taxation after the legislation was published in the Official Gazette on 15 May 2026. The law
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Italy joins common understanding on Pillar Two GloBE information return filing
The Italian Ministry of Finance confirmed, on 19 May 2026, that Italy has joined the common understanding on GloBE Information Return filing under Pillar Two. Countries implementing the Global Minimum Tax from 2024 onwards, including Italy, have
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Australia: ATO issues guidance on Pillar Two account, role creation
The Australian Taxation Office (ATO) has published guidance on Pillar Two account and role creation on 19 May 2026. In March, the ATO published information about how MNE groups and their advisers could prepare for Pillar Two (global and domestic
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OECD issues new guidance on Pillar Two global minimum tax compliance
The OECD has released crucial administrative guidance to help multinational corporations navigate the complex filing requirements of the Pillar Two Global Minimum Tax, addressing concerns about meeting the upcoming 30 June 2026 deadline. Under
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Italy finalises fuel relief package with extended tax cuts, transport subsidies
Italy’s government has finalised its fuel decree with the publication of Conversion Law Number 79/2026 in the Official Journal on 16 May 2026. The legislation makes Legislative Decree number 33/2026 into permanent law, maintaining reduced excise
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Italy opens additional tax credit for Southern investment zone companies
Companies that invested in capital goods within Southern Italy's Special Economic Zone last year can now utilise a supplementary tax credit through the newly established code 7041. The Revenue Agency introduced this code through Resolution no.
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UAE: FTA says over 68,000 benefited from corporate tax penalty waiver initiative
The UAE Federal Tax Authority (FTA) has announced, on 14 May 2026, that more than 68,600 taxable persons benefited from the Corporate Tax Late Registration Penalty Waiver initiative during 2025 and the early part of 2026, as the country continues
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Singapore updates tax relief and objection guidance
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on the Time Limit to Claim Relief in Respect of Error or Mistake and When and How to File Notice of Objection, setting clearer rules for corporate taxpayers and confirming a
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