Italy: Government updates tax reliability indices for 2025 amid economic pressures
Italy’s Revenue Agency announced on 29 April 2026 that the Ministry of Economy and Finance had gazetted the Decree of 15 April 2026 on 27 April 2026, which updates the Decree of 31 March 2026. The Decree of 15 April 2026 revised the Synthetic
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Slovak Republic clarifies e-invoicing and e-reporting rules as 2027 deadline approaches
The Slovak Republic’s Financial Administration has published further updates to its frequently asked questions on mandatory electronic invoicing in April 2025, adding new clarifications on VAT treatment and technical implementation requirements
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Russia reminds taxpayers of controlled transaction notification obligations
Russia’s Federal Tax Service (FTS) has reminded taxpayers that notifications of controlled transactions for 2025 must be submitted no later than 20 May 2026. Under paragraph 8 of Article 105.15 of the Tax Code of the Russian Federation,
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US: IRS launches significant issue ruling program for select transactions
The US Internal Revenue Service (IRS) has issued Revenue Procedure 2026-21, introducing a significant issue ruling program that allows taxpayers to request rulings on specific major legal issues under the jurisdiction of the Associate Chief Counsel
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Qatar: Cabinet approves draft law on e-invoicing
Qatar’s Cabinet has approved a draft law on E-invoicing and its executive regulations, according to a release from the Qatar News Agency on 6 May 2026. Prepared by the Ministry of Finance in coordination with the General Tax Authority (GTA),
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Rwanda implements new transfer pricing rules, business tax regulations, loss carryforward extensions
Rwanda has published Ministerial Order No. 003/26/10/TC of 29 April 2026 in the Official Gazette, introducing updated transfer pricing rules under Law No. 027/2022 of 20 October 2022, the country’s new income tax law, accounting for small
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Singapore: IRAS updates Pillar Two registration guidance for MNE top-up taxes
The Inland Revenue Authority of Singapore (IRAS) updated its guidance on 6 May 2026 on registration requirements for Multinational Enterprise Top-up Tax (MTT) and Domestic Top-up Tax (DTT) under the Multinational Enterprise (Minimum Tax) Act 2024
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Hong Kong joins multilateral competent authority agreement on the exchange of GloBE information (GIR MCAA)Â
Hong Kong joined the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA) on 21 April 2026, according to an OECD update published on 5 May 2026. The GIR MCAA is a global multilateral agreement developed by
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Greece unveils draft law introducing DAC8, Pillar Two tax reforms and new advance tax ruling framework
Greece has unveiled a draft law on 30 April 2026 introducing wide-ranging tax transparency reforms, institutional restructuring measures and a new advance tax ruling framework, alongside the transposition of key EU tax directives including DAC8 and
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Kazakhstan introduces VAT crediting mechanism in electronic invoices system
The State Revenue Committee of the Ministry of Finance of Kazakhstan informs that, as part of the amendments to the new Tax Code of the Republic of Kazakhstan, which entered into force on 1 January 2026, the Electronic invoices information system
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Cyprus extends deadline for reduced VAT housing applications amid planning delays
The Tax Department of the Republic of Cyprus has announced, on 4 May 2026, that the Tax Commissioner will continue examining applications for the reduced VAT rate on residential property under Article 63 until 31 December 2026, where delays by
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Colombia: Constitutional Court suspends wealth tax instalment, land measures
Colombia’s Constitutional Court issued a press release dated 29 April 2026 concerning rulings including Order A-533/26 and Order A-534/26, which provisionally suspended parts of emergency measures adopted under Decree 173 of 2026 and Decree 174 of
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Greece updates VAT transition rules with extended penalty waiver window
Greece’s Independent Authority for Public Revenue (AADE) has introduced a penalty waiver for farmers required to move from the special agricultural flat-rate VAT scheme to the standard VAT regime for the 2026 tax year, following the issuance of
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Austria extends fuel tax relief, tightens margin limits until end-May
The Austrian government has approved amendments affecting both fuel margin limits and mineral oil tax reductions, extending relief measures through the end of May 2026. Under the revised Verordnung zur Margenbegrenzung bei Treibstoffen, issued on
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OECD publishes Revenue Statistics in Latin America and the Caribbean 2026
The OECD has published Revenue Statistics in Latin America and the Caribbean 2026, presenting comparable tax revenue data across 29 countries in the region on 5 May 2026. Executive summary Tax revenues increased as a share of GDP between 2023
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Zambia introduces temporary VAT zero rating on petrol, diesel
Zambia has implemented temporary fiscal measures on fuel following a Cabinet decision on 31 March 2026, chaired by President Hakainde Hichilema, in response to what it described as an emergency in the national fuel supply situation. The Cabinet
See MoreUS: IRS recognises the importance of small businesses, provides helpful resources
The US Internal Revenue Service (IRS) announced on 5 May 2026 a series of resources and events to support small businesses during National Small Business Week, which runs through 9 May. For over 60 years, the U.S. Small Business Administration
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Czech Republic: Government approves bill to reinstate EET, cut VAT on soft drinks, and exempt tips
The Czech Republic government has approved a comprehensive overhaul of the country's sales recording system alongside significant tax relief measures for businesses and citizens. First Deputy Prime Minister and Minister of Industry and Trade
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