Denmark reduces corporate tax in government coalition agreement
Denmark has published the four-party government coalition policy agreement on 2 June 2026, setting out a broad package of proposed tax reforms aimed at increasing national wealth, strengthening competitiveness, and encouraging work and
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Japan: National Tax Agency updates CbC exchange jurisdictions list
Japan’s National Tax Agency has published an updated list of jurisdictions for the exchange of Country-by-Country (CbC) reports. Country-by-Country (CbC) reports are a standardised tax reporting framework requiring large multinational
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US: New York approves FY 2026-27 budget, introduces tip income tax exemption
New York Governor Kathy Hochul signed the New York State Fiscal Year 2027 Budget on 28 May 2026. This legislative package is designed to address the rising cost of living while funding critical public safety and infrastructure initiatives. While
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France approves GloBE Information Exchange Agreement under Pillar Two for automatic tax data exchange
The French Council of Ministers approved the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA) under Pillar Two of the OECD/G20 Inclusive Framework on BEPS on 27 May 2026. The GIR MCAA is designed to
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Luxembourg publishes list of jurisdictions for automatic GloBE GIR exchange
Luxembourg has published the Grand-Ducal Regulation of 26 May 2026 in the Official Gazette, setting out the list of jurisdictions with which it will automatically exchange information from GloBE Information Returns (GIRs) in relation to the global
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OECD updates signatories list for MCAA-CbC
The Organisation for Economic Cooperation and Development (OECD) released an updated list of signatories, along with their signing dates, for the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports
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Italy: Personal boats can enter Italy VAT-free under new EU ruling
Italy's Revenue Agency has issued a clarification on 26 May 2026 confirming that pleasure boats transferred from outside the EU qualify for VAT exemption when imported by relocating residents, even when held through foreign corporate
See MoreOECD reports on cross-border remote work and taxable presence
The OECD has published a post on when working remotely across borders creates a taxable presence on 26 May 2026. Working from a kitchen table in another country, extending a business trip into a few extra weeks abroad, or logging in from a
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Portugal issues VAT group regime return form, filing rules
Portugal published Ordinance No. 244/2026/1 in its Official Gazette on 1 June 2026, approving the VAT declaration (return) form and accompanying instructions for the newly introduced VAT Group Regime (Regime de Grupos de IVA). The ordinance
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Romania gazettes simplified e-invoicing rules with key exemptions, digital updates
Romania's Parliament formally approved sweeping amendments to its electronic invoicing framework through Law No. 88, which brings Government Emergency Ordinance No. 128/2024 into effect on 29 May 2026. The changes, originally issued on 7 November
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Australia: ATO issues updated guidance on maximum contribution base for super guarantee
The Australian Taxation Office (ATO) has updated its guidance on the maximum contributions base (MCB) for superannuation guarantee contributions on 3 June 2026. Employers are not required to pay super guarantee once an employee’s earnings
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Brazil: RFB issues guidance on PIS/Cofins credits during CBS transition
Brazil’s tax administration, the Federal Revenue Service (RFB) has clarified on 3 June 2026 that existing PIS/Pasep and Cofins tax credits will remain valid and usable even after these contributions phase out with the introduction of the
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Bulgaria considers 0% VAT on essential food items under draft bill
Bulgaria’s National Assembly is reviewing a draft bill submitted on 18 May 2026 that proposes introducing a 0% VAT rate on “socially beneficial and essential foods and drinks” under the Value Added Tax (VAT) Act. The proposed measure would
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Germany approves agreement for automatic exchange of digital platform income data
The German Federal Cabinet (Bundesregierung) approved the Multilateral Competent Authority Agreement on Automatic Exchange of Information on Income Derived Through Digital Platforms (DPI MCAA), advancing the implementation of global reporting
See MoreFrance clarifies approach to centralised filing, exchange of GloBE information return
France’s Directorate General of Public Finances (DGFiP) has clarified its position on the centralised filing and exchange of the GloBE Information Return (GIR), confirming its intention to apply a transitional relief framework aligned with the
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Bolivia: National Assembly implements tax transparency, amnesty law
Bolivia’s National Assembly has enacted the Tax Transparency and Amnesty Law 1733 (Ley No. 1733), which was published in the Official Gazette on 28 May 2026. Law 1733 introduces broad tax administration and procedural measures aimed at waiving
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Taiwan: NTBNA clarifies loss carryforward offset rules involving non-taxable investment income
Taiwan’s Taxation Bureau of the Northern Area, Ministry of Finance (NTBNA, MOF), stated that, as stipulated in Article 39 of the Income Tax Act, when profit-seeking enterprises deduct the verified losses of each of the former ten years from the
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US: Treasury, IRS issue Section 892 proposed regulations to provide grandfathering protection and transitional relief to sovereign investors
The Department of the Treasury and the Internal Revenue Service announced on 29 May 2026 that it has issued additional guidance addressing the applicability dates of recent proposed regulations under Section 892 of the Internal Revenue Code, which
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