US extends tax deadlines for disaster-affected taxpayers in eight jurisdictions
The US Internal Revenue Service (IRS) has extended tax filing and payment deadlines for individuals and businesses affected by natural disasters in Alabama, Florida, Guam, New Mexico, Wisconsin, Ohio, Nebraska, and West Virginia. The relief covers
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OECD releases Version 2.0 of GIR XML Schema
The OECD published an updated user guide and XML schema for the Pillar Two GloBE Information Return (GIR) on 20 October 2026. Version 2.0 reflects recent changes to the GIR made after the adoption of the Side-by-Side Package. It also includes
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Hong Kong: IRD extends 2025-26 profits tax filing deadlines
Hong Kong’s Inland Revenue Department (IRD) has extended the filing deadlines for 2025/26 Profits Tax returns with Accounting Date Code ‘M’, providing businesses and tax representatives with additional time to meet their tax compliance
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Uruguay updates dividend withholding tax rules
Uruguay has published Decree No. 427/026 of 1 October 2026, introducing rules for withholding tax on dividends and profits under Budget Law No. 20.446 of 16 December 2025. The decree amends Decree No. 149/007 of 26 April 2007, which regulates the
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Ireland’s Finance Bill 2026 updates Pillar Two rules, expands tax reliefs
Ireland’s Department of Finance announced yesterday, 19 October 2026, the publication of the Finance (No. 2) Bill 2026 and its accompanying Explanatory Memorandum to implement Budget 2027. The Bill includes changes to corporate and personal
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Kazakhstan collects tax payments from Pinduoduo, and Anthropic, restricts Farfetch access
Kazakhstan has collected KZT 8 billion in taxes from two foreign technology companies. The State Revenue Committee of the Ministry of Finance announced the payments on 19 October 2026. Payments from Pinduoduo and Anthropic Pinduoduo paid KZT
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Cyprus unveils 2027 budget, outlines corporate tax changes and individual tax relief
Cyprus has presented its 2027 state budget and Medium-Term Fiscal Framework for 2027–2029 to the Parliamentary Committee on Finance and Budget on 12 October 2026. Finance Minister Makis Keravnos presented the budget, which was approved by the
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Australia introduces draft legislation to implement crypto-asset reporting, expanded CRS requirements
The Australian government released draft legislation on 15 October 2026 to implement the OECD Crypto-Asset Reporting Framework (CARF), introducing domestic crypto-asset reporting and expanding Australia's Common Reporting Standard (CRS). The
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IMF: Re-thinking taxation for the AI era
On 14 October 2026, at the IMF annual meetings, a forum discussion looked at Rethinking taxation for the AI era. The panel consisted of Adrian Brown, the Founder and CEO at Windfall Trust; Ioana Marinescu, Professor at the University of Pennsylvania
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Taiwan reminds businesses to declare overseas investment income
Taiwan’s National Taxation Bureau of the Northern Area (NTBNA), Ministry of Finance (MOF), has reminded profit-seeking enterprises to include overseas income from offshore financial investments in their taxable income. Under Paragraph 2, Article 3
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Singapore updates business expense deduction guidance, clarifies rules for Green Certificates, Green Credits
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on business expense deductions, clarifying new rules for Green Certificates and Green Credits (GCCs). The previous guidance on carbon credits has been removed, as their tax
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Philippines: BIR clarifies tax deductions for shared senior drug discounts
The Philippines Bureau of Internal Revenue (BIR) has updated its tax rules on senior citizen discounts for the first time since 2010. The changes explain how pharmaceutical companies, distributors, and retailers can claim tax deductions when they
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Malaysia updates guidelines on tax treatment of foreign capital gains
The Inland Revenue Board of Malaysia (IRBM) has issued amended technical guidelines dated 29 September 2026 on the tax treatment of gains from the disposal of foreign capital assets received in Malaysia. Prior to 1 January 2024, gains from the
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Hong Kong moves to widen tax deductions for intellectual property purchases
Hong Kong’s government has published the Inland Revenue (Amendment) (Tax Deductions for Intellectual Property Expenditure) Bill 2026 on 16 October 2026, relaxing tax deduction arrangements for capital expenditure that businesses incur on buying
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Sweden submits Pillar Two bill with new safe harbours to Parliament
The Swedish government's legislative proposal (Proposition 2026/27:4), submitted to the Swedish Parliament (Riksdag) on 13 October 2026, incorporates the OECD/G20 Inclusive Framework's Pillar Two administrative guidance issued between June 2024 and
See MoreIMF: Fiscal Drivers of FDI in Low Income Countries
On 13 October 2026, at the IMF annual meetings, a presentation by Isabel Duarte of the IMF Fiscal Department looked at Fiscal Drivers of FDI in Low Income Countries. Duarte noted that only around 1% of global foreign direct investment (FDI) flowed
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Australia tables further amendments to CGT reforms
Australia’s government introduced the Treasury Laws Amendment (Tax Reform No. 3) Bill 2026 to Parliament on 14 October 2026, proposing further amendments to the capital gains tax (CGT) reforms, clarifying their application to investment trusts,
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Australia tables draft legislation imposing 30% minimum tax on discretionary trusts
The Australian Government introduced the Treasury Laws Amendment (Tax Reform No. 3) Bill 2026 and the Income Tax Rates Amendment (Minimum Tax on Discretionary Trusts) Bill 2026 to the House of Representatives on 14 October 2026. The proposed
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