South Africa: SARS updates global minimum tax return, payment guidance
The South African Revenue Service (SARS) has issued revised guidance and additional instructions for the submission of Global Minimum Tax (GMT) Returns and the payment of related liabilities. The Global Anti-Base Erosion (GloBE) Model
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El Salvador broadens deductibility of business costs, expenses under new tax decree
El Salvador has released a more taxpayer-friendly interpretation of how businesses can deduct operating costs. On 11 May 2026, the Legislative Assembly issued Decree No. 568, replacing a seven-year-old rule that had restricted deductions in several
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Bolivia: SIN further extends 2025 filing deadline for financial statements, transfer pricing documentation
Bolivia’s National Tax Service (SIN) has issued Resolution No. 102600000017 of 27 May 2026 to further extend the deadline for the digital submission of financial statements, the annual report, the transfer pricing study, and the related-party
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OECD publishes updated GIR MCAA signatories list
The Organisation for Economic Co-operation and Development (OECD), on 29 May 2026, released an updated list of signatories to the Multilateral Competent Authority Agreement on the Exchange of Global Anti-Base Erosion (GloBE) Information Returns (GIR
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Czech Republic sets 1 July deadline for top-up tax information returns as OECD guidance takes effect
The Czech Financial Administration released a statement on the Pillar Two global minimum tax forms recently approved under Decree No. 68/2026, published in the Official Gazette on 20 May 2026. A key point of the statement is the confirmation that
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Belgium gazettes model form for qualified domestic minimum top-up tax
Belgium has gazetted the Royal Decree of 25 May 2026, which officially approves the model form for the supplementary national tax return for the 2024 tax year. The supplementary national tax represents Belgium’s qualified domestic minimum
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Taiwan: Tax Authority reiterates invoicing rules for franchise arrangements
Taiwan’s Kaohsiung National Taxation Bureau of the Ministry of Finance stated that when a business operator (franchise headquarters) charges a franchisee a one-time franchise fee for opening a store, the fee is regarded as consideration for the
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Austria court limits use of extended statute of limitations in VAT case
The Austrian Ministry of Finance has published a decision of the Federal Fiscal Court (BFG) confirming that the extended 10-year statute of limitations for tax evasion cannot be applied without evidence of intent, overturning a tax office's attempt
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Spain completes MLI procedures for tax treaty with Argentina
Spain has confirmed the completion of its internal procedures for the entry into effect of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) in relation to its covered tax
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Greece updates CRS reportable, participating jurisdiction lists for 2026 information exchange
The Greek Public Revenue Authority (AADE) has updated the lists of Reportable Jurisdictions and Participating Jurisdictions used for the automatic exchange of financial account information under the Common Reporting Standard (CRS), following the
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US: IRS releases calculator for long-term contract interest computations
The US Internal Revenue Service announced, on 29 May 2026, the release of a new calculator to help businesses working on large, multi-year construction or manufacturing projects more easily figure interest related to those contracts. The
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UK updates qualifying Pillar Two jurisdictions, domestic top-up tax lists
The UK has updated its list of recognised jurisdictions and taxes under the Pillar Two framework, adding four jurisdictions to its recognised Qualified Domestic Minimum Top-up Tax (QDMTT) and accredited QDMTT safe harbour lists while revising the
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Iceland approves industrial policy to boost growth, competitiveness through 2035
The Government of Iceland has approved a new industrial policy that sets out a long-term vision for economic growth, productivity, and competitiveness to 2035. The policy is intended to support sustainable economic development and create a more
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Hong Kong: LegCo to consider crypto-asset reporting framework bill
The Hong Kong Inland Revenue Department has announced that the Legislative Council (LegCo) will meet on 3 June 2026 to consider a number of items, including proposed legislation introducing a crypto-asset reporting framework and amendments to the
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Malta implements DAC8 crypto-asset reporting framework
Malta has published Legal Notice 162 of 2026 in the Official Gazette, introducing the Cooperation with Other Jurisdictions on Tax Matters (Amendment) Regulations, 2026, which implement Council Directive (EU) 2023/2226 of 17 October 2023
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Belgium implements optional withholding tax system for capital gains on financial assets
Belgium’s Ministry of Finance has published a Royal Decree implementing the Capital Gains Tax on shares and crypto assets from 2026. The decree of 18 May 2026 was officially published in Official Gazette No. 2026003829 on 27 May 2026. A central
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Panama enacts law introducing economic substance rules for MNE groups
Panama has enacted Law No. 526 of 28 May 2026, significantly reforming its National Fiscal Code by introducing economic substance requirements for multinational enterprise (MNE) groups earning foreign-source passive income. The reform is designed
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OECD updates consolidated commentary to global anti-base erosion model rules
The OECD has released an updated 2026 Consolidated Commentary to the Global Anti-Base Erosion (GloBE) Model Rules on 28 May 2026, incorporating administrative guidance issued by the Inclusive Framework between March 2022 and January
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