Turkey updates special consumption tax rates for petroleum products
Turkey’s Tax Administration has issued revised Special Consumption Tax (SCT) rates for certain petroleum products, following the reinstatement of the fuel price stabilisation mechanism. The decision, based on Presidential Decision No. 10995 of 4
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Philippines: Senate considers automatic VAT, excise tax suspension on fuel during price hikes
The Philippine Senate is considering Senate Bill No. 1935, which was first read on 9 March 2026, proposing an automatic suspension of fuel taxes when global oil prices surge beyond a specific threshold. The bill establishes a clear trigger for
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US: Treasury issues list of nations obliged to comply with international boycottÂ
The US Department of the Treasury issued a Federal Register notice on 11 March 2026 identifying countries that may mandate participation in international boycotts. The designated nations are Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria,
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Argentina updates income tax, VAT rules
Argentina’s government has published Law No. 27,802/2026 in the Official Bulletin on 6 March 2026, which entered into force on the same day, introducing amendments to the existing income tax, VAT, excise duties, and other taxes. Income
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Taiwan: Northern Tax Bureau issues reminder on CFC rules
Taiwan’s Northern District National Taxation Bureau has issued a reminder to businesses regarding the Controlled Foreign Company (CFC) rules, which came into effect in 2023. The rules were introduced to prevent multinational enterprises from
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European Commission sends Spain to CJEU for non-compliance with VAT rules for small enterprises
The European Commission announced on 11 March 2026 that it will refer Spain to the Court of Justice of the European Union for failing to transpose two separate Directives related to VAT measures into national law. Council Directive (EU)
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Portugal: Court confirms foreign income faces municipal surcharge
Portugal’s Supreme Administrative Court has ruled that foreign-source income is generally liable for municipal surcharge unless it can be attributed to a foreign permanent establishment. The judgment, issued on 25 February 2026, followed a case
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Poland enacts DAC8 crypto-asset reporting, DAC9 Pillar Two top-up tax exchange directives
Poland’s Ministry of Finance announced, on 11 March 2026, that the Act on the Exchange of Tax Information with Other Countries and Certain Other Acts has been signed into law. The legislation implements Council Directive (EU) 2023/2226 (DAC8) and
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UK: HMRC consults standardised corporation tax computations
The UK tax authority, HM Revenue & Customs (HMRC) has initiated a consultation on 10 March 2026 regarding the updates and standardisation of the format of UK corporation tax computations. The government is introducing prescribed formats for
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UK to abolish shadow advance corporate tax system in April 2026
The UK government will abolish the shadow Advance Corporation Tax (ACT) system from April 2026, streamlining the way businesses can use their existing ACT balances. Shadow Advance Corporation Tax (Shadow ACT) is a UK notional tax mechanism
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Taiwan clarifies tax treatment of enterprises overseas income from foreign financial products
Taiwan’s Northern District National Taxation Bureau of the Ministry of Finance clarified today, 12 March 2026, that income derived by profit-seeking enterprises from investments in foreign financial products constitutes overseas income. Such
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Australia: ATO announces GIC, SIC rates for Q4 2025-26
The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the fourth quarter of the 2025-26 income year on 6 March 2025. For the quarter commencing on 1 April 2026, the
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EU Commission presses France to end restriction breaching parent-subsidiary rules
The European Commission sent a letter of formal notice to France for applying national criteria to determine whether a parent company qualifies for a withholding tax exemption on subsidiary distributions, in its March 2026 infringements package. The
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South Africa: SARS announces crypto-asset reporting deadline
The South African Revenue Service (SARS) has issued an explanation of the reporting obligations and deadlines for crypto-asset service providers (CAPSs) under the Crypto-Asset Reporting Framework (CARF). The first reporting period runs from 1
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IMF Country Focus: How China’s Economy Can Achieve Consumption-led Growth
On 18 February 2026 an IMF country focus with the title How China’s Economy Can Pivot to Consumption-led Growth, written by D. Garcia-Macia, S. Jain-Chandra, S. Kothari and Y. Xu, looked at way in which China could stimulate domestic
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UN: 32nd Session of Committee of Experts on Tax Cooperation
The 32nd session of the UN Committee of Experts on International Cooperation in Tax Matters is to be held from 23 to 26 March 2026. A provisional agenda has been issued, which includes the following topics: UN Model Tax Convention Work on the
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Singapore: IRAS updates CbC reporting jurisdictions
The Inland Revenue Authority of Singapore (IRAS) updated its Country-by-Country (CbC) Reporting guidance on 6 March 2026, revising the list of jurisdictions with which CbC reports can be automatically exchanged. Jurisdiction Effective
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Singapore: IRAS updates tax guidance for platform workers
Singapore’s Inland Revenue Authority has released updated guidance on the tax obligations of platform workers. This includes: Basic guide for platform workers The basic guide serves as a checklist for platform workers, including
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