Australia: ATO adopts OECD common understanding for Pillar Two GIR filing
The Australian Taxation Office (ATO) has updated its guidance on the Global and Domestic Minimum Tax and Lodging, Paying and Other Obligations for Pillar Two on 26 May 2026. The updates incorporate the OECD’s common understanding released on 18
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Ireland issues new guidance on Pillar Two information returns, filings, payments
Irish Revenue has released two new eBriefs providing operational guidance for entities subject to the OECD’s Pillar Two global minimum tax framework, including instructions for filing information returns and meeting tax return and payment
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Sweden plans indexed R&D deduction, tax-free skills support ahead of 2027 budget
Sweden’s Ministry of Finance has announced that it is submitting three tax proposals ahead of the autumn budget 2027 on 19 May 2026. The tax proposals are designed to strengthen labour market participation, facilitate skills development and
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Thailand issues filing reminder for 2025 corporate income tax return deadlines
The Thai Revenue Department issued a reminder on 25 May 2026 regarding the filing of annual corporate income tax returns (Form PND 50) for companies whose accounting period ran from 1 January to 31 December 2025. The notification outlines the
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New Zealand simplifies business tax compliance in 2026 Budget
The New Zealand Government delivered Budget 2026 to Parliament on 28 May 2026, with Minister of Finance Nicola Willis outlining a strategy aimed at restoring a fiscal surplus by the 2028/29 financial year. To implement the budget proposals, the
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Spain: MoF confirms conclusion of ITDRC multilateral convention negotiations with ten countries
The Spanish Ministry of Finance (MoF) issued a joint statement on 25 May 2026 announcing that negotiations on a Multilateral Convention on the International Tax Dispute Resolution Commission have been concluded. Austria, Bulgaria, Denmark,
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UK: HMRC proposes to make foreign permanent establishment tax exemption mandatory from 2027
The UK HM Revenue & Customs (HMRC) has issued a policy paper outlining proposed changes to the tax treatment of foreign permanent establishments, also known as foreign branches on 21 May 2026. For most companies, it will be mandatory for
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New Zealand consults on GST treatment of arranging financial products
New Zealand Inland Revenue has released a draft interpretation statement for public consultation titled “GST – Arranging and brokering financial products” on 21 May 2026. The statement guides when intermediaries or brokers involved in the
See MoreSweden: Parliament approves dividend withholding tax exemption for foreign states
Sweden’s parliament (Riksdag) approved legislation on 20 May 2026 introducing a withholding tax exemption for dividends paid to foreign states and foreign entities equivalent to Swedish regions, municipalities, or municipal associations. The
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Uruguay expands dividend withholding tax, indirect transfer rules
Uruguay has enacted new measures on dividend withholding tax and the taxation of indirect transfers of Uruguayan assets under Law No. 20446 of 16 December 2025, included in the country’s 2025-2029 National Budget. The changes maintain the
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Taiwan: MoF urges taxpayers to complete 2025 income tax return filings before deadline
Taiwan's Ministry of Finance (MoF) has announced the upcoming income tax return deadline for the year 2025. As of 24 May 2026, 5,076,273 individual income tax returns have been filed, accounting for 72.7% of the total individual income tax
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Turkey approves major tax package with corporate rate cuts, foreign income exemptions
Turkey’s Grand National Assembly (TBMM) on 21 May approved Law No. 7582, a broad legislative package containing tax and investment measures, which was first announced by the Turkish President in April 2026. The law introduces amendments to
See MoreTaiwan: Businesses reminded to apply for CFC financial statement filing extensions
The Kaohsiung National Taxation Bureau of the Ministry of Finance announced on 25 May 2026 that, for any reason, those who are unable to submit their CFC financial statements within the prescribed period may apply to their local tax authority for an
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OECD: Global Forum publishes 2026 Latin America tax transparency report
OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has released the Tax Transparency in Latin America 2026: Latin America Initiative Progress Report on 25 May 2026, outlining regional progress in implementing
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Italy: Fuel tax relief and support measures to continue through June 2026
Italy’s Revenue Agency has announced that the government has introduced Legislative Decree no. 89/2026, published on 25 May 2026, implementing comprehensive tax relief measures to ease the burden of rising fuel costs on citizens and businesses.
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Romania increases mining tax rates under new government decision
Romania has raised annual mining tax rates through Decision No. 391, published on 14 May 2026 in the Official Gazette, with the changes taking effect from 15 May 2026. The new rates, established under Article 44 of Mining Law No. 85/2003,
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Morocco: DGI launches new VAT platform for digital service providers
Morocco's tax authority (DGI) has introduced a new online system requiring foreign digital service providers to register and pay VAT on services delivered to Moroccan clients. Non-resident companies without a physical presence in Morocco must
See MoreUK cuts VAT on tourist attractions to 5% in summer relief package
The UK announced on 21 May 2026 a temporary reduction in value-added tax (VAT) for tourist attractions and related services from 25 June 2026 to 1 September 2026, aimed at supporting families and the hospitality sector amid rising energy costs
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