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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G7 endorses side-by-side package for global minimum tax implementation
The G7 finance ministers and central bank governors convened on 18 May 2026, issuing a communiqué that reinforces their commitment to international tax cooperation and digital economy challenges. The ministers endorsed the OECD/G20 Inclusive
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Brazil introduces comprehensive indirect tax reform with new regulations for IBS, CBS
Brazil is implementing a major indirect tax reform, replacing five existing taxes — three federal (PIS, COFINS, IPI), one state (ICMS), and one municipal (ISS) — with two new taxes: CBS (federal contribution on goods and services), managed
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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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Montenegro ratifies BEPS multilateral instrument, effective September 2026
The OECD announced that Montenegro deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 6 May 2026. The BEPS Convention will enter into
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Argentina outlines RIMI registration procedure for SMEs
Argentina’s Customs Revenue and Control Agency (ARCA), together with the Secretariat of Agriculture, Livestock and Fisheries and the Secretariat of Energy, has issued General Resolution 5849/2026 regulating the procedure for small and medium-sized
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Ukraine advances digital platform tax rules with 5% preferential rate for online sellers
The Ukrainian parliament, the Verkhovna Rada of Ukraine, has adopted in the first reading draft law No. 15111-d on the taxation of income earned by individuals through digital platforms, as the legislation moves towards a second reading. The
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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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China: Instant tax refunds boost tourist spending
China's instant tax refunding service for overseas visitors, launched in April 2025, has significantly boosted inbound consumption with the rapid growth of business volume. Over the past year, the number of travelers applying for instant tax
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Bolivia: SIN advances digital tax transformation 3.0 through regional collaboration
Bolivia's National Tax Service (SIN) announced on 18 May 2026 that it has reinforced its commitment to digital modernisation following its participation in a major regional gathering focused on transforming tax administration across the
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UK: HMRC consults on draft rules for IHT treatment of unused pension funds
The UK’s His Majesty’s Revenue and Customs (HMRC) has opened a consultation on 18 May 2026 about the draft regulations designed to support the application of inheritance tax (IHT) to unused pension funds. This technical consultation seeks
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Belgium releases FAQs about the new e-invoicing rules
Belgium’s tax authorities have updated the FAQs about e-invoicing. As of July 2025, Belgian businesses are required to send and receive invoices electronically. This follows the announcement by Belgium’s Federal Public Service (SPF) Finance
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Kenya refines country-by-country reporting rules in Finance Bill 2026
Kenya’s Finance Bill, 2026, introduces significant updates to Country-by-Country (CbC) reporting through amendments to the Income Tax Act. These changes focus on refining definitions and aligning statutory references to ensure clarity and
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Angola extends ICMS tax filing deadline due to system issues
The General Tax Administration (AGT) of Angola has announced an extension for taxpayers struggling to meet their Value Added Tax obligations for March 2026. The original deadline of 15 May 2026 has been pushed back by one week to 22 May 2026,
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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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