UK confirms no Pillar Two late-filing penalties for returns filed before August 2026
UK’s tax authority, HMRC, has updated its Pillar Two guidance on 26 June 2026, confirming that under its transitional approach to implementing the Pillar Two top-up taxes, it will not impose late filing penalties for UK tax returns, overseas
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Belarus introduces tax incentives for robotics sector from July 2026
Belarus has introduced new tax incentives to promote the robotisation of its economy under Edict No. 198 of 17 June 2026. Legal entities implementing robotics are eligible for the following tax incentives: Key tax incentives Depreciation:
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Kazakhstan updates VAT exemptions, reduces rates for healthcare sector
The Government of Kazakhstan has adopted Government Decree No. 542, signed on 24 June 2026, introducing amendments to two existing regulations governing Value Added Tax (VAT) treatment for medical services, medicines and pharmaceutical
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OECD paper examines investment tax incentives across Latin America and the Caribbean
The OECD has published a working paper examining Investment tax incentives in Latin America and the Caribbean on 30 June 2026. The study covers Argentina, Brazil, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Paraguay, Peru
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Austria enacts Budget Measures Act 2026 with income tax, VAT and compliance changes
Austria's Budget Measures Act 2026 (Budgetmaßnahmengesetz 2026) entered into force on 1 July 2026 after being published in the Official Gazette (BGBl. I 43/2026) on 30 June. The legislation amends a range of federal laws with measures intended to
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OECD publishes 2026 Asia-Pacific revenue statistics with 2024 tax data
The OECD has announced on 30 June 2026 the release of the report Revenue Statistics in Asia and the Pacific 2026. Revenue Statistics in Asia and the Pacific 2026 presents detailed, internationally comparable data on public revenues in the
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Bosnia and Herzegovina: FBiH prepares for fiscalization system procurement under new law
The Federation of Bosnia and Herzegovina (FBiH) is continuing preparations for its new fiscalization framework ahead of the August 2026 deadline for issuing implementing bylaws under the Law on Fiscalization of Transactions. The Tax
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Cyprus ratifies multilateral agreement on GloBE information exchange (GIR MCAA)
Cyprus has ratified the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA), with the ratification published in the Official Gazette on 26 June 2026. Having signed the agreement on 12 May 2026, Cyprus joins
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Australia: ATO raises penalty unit for infringements from July 2026
The Australian Taxation Office (ATO) has updated its guidance on penalty units to reflect an increase in the penalty unit value on 26 June 2026. For infringements occurring on or after 1 July 2026, the penalty unit amount has increased to AUD 364,
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US: IRS reviews CbC report exchange status, makes no changes
The US Internal Revenue Service (IRS) published a reviewed version of its Country-by-Country (CbC) Reporting Jurisdiction Status Table on 1 July 2026. The previous update, released on 1 July 2025, reflected the addition of the competent authority
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Chile: SII updates late tax payment interest rates, forgiveness policies for the second half of 2026
Chile's Internal Revenue Service (SII) has issued two key updates—Resolution No. 88 of 26 June 2026 and Circular No. 27 of 23 June 2026—to establish the late tax payment interest rates for the second half of 2026 and outline updated forgiveness
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Uzbekistan introduces simplified VAT rate, tax reforms for small businesses
Uzbekistan has issued Presidential Decree No. UP-100 of 26 May 2026, which outlines a comprehensive reform package designed to modernise and simplify the tax environment for small businesses in Uzbekistan. Scheduled for implementation between
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Turkey extends 2024 Pillar Two top-up tax filing, payment deadline
Turkey's Tax Administration has extended the deadline for filing and paying the Global Minimum Top-up Corporate Tax for the 2024 fiscal year. The extension was announced in Circular No. 203/2026-9 on the Tax Procedure Law on 26 June 2026. Using
See MoreUK: HMRC issues guidance on Pillar Two multinational top-up tax, domestic top-up tax returns
The UK’s His Majesty’s Revenue and Customs (HMRC) has published a guidance, on 30 June 2026, on the process for submitting returns for Pillar Two top-up taxes in the UK, Pillar Two top-up taxes submission of returns (Notice 3). This notice
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Italy updates Pillar Two guidance with GIR filing rules, FAQs
The Italian Ministry of Economy and Finance and the Revenue Agency have published coordinated guidance on Global Minimum Tax reporting, including centralised filing procedures for the GloBE Information Return and comprehensive FAQs addressing Pillar
See MoreOECD issues working paper on Revisting Local Tax Attribution Under Central Control
The OECD has issued a working paper, Revisiting local tax attribution under central control on 29 June 2026. This paper asks how local tax revenues should be attributed when tax rates, tax bases or tax-sharing arrangements are shaped by
See MoreOECD releases Progress on Transparency and Exchange of Information for Tax Purposes Boosts Domestic Resource Mobilisation in Africa report
The OECD has released the Tax Transparency in Africa 2026: Africa Initiative Progress Report on 30 June 2026. Continued progress on transparency and exchange of information for tax purposes boost African countries’ domestic resource
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Greece: AADE extends GloBE information return submission deadline
Greece has extended the deadline for submitting GloBE Information Returns (GIR) for fiscal years ending on or before 31 March 2025, with in-scope entities now required to file by 30 October 2026 under Decision A.1131/2026 issued on 29 June
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