Portugal introduces housing tax incentives to expand affordable rental market
Portugal has introduced a broad package of tax incentives and housing reforms through Decree-Law No. 97/2026 on 20 May 2026, with measures aimed at increasing housing supply and supporting moderate-priced homes for the middle class and first-time
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Ireland: Revenue updates full self-assessment time limits in tax and duty Manual 41A-05-04
Irish Revenue issued eBrief No. 097/26 on 21 May 2026, relating to updates to Tax and Duty Manual 41A-05-04 on Full self-assessment. The manual sets out the authority of Revenue officers to conduct enquiries, the time limits within which such
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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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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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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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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
See MoreRomania: ANAF proposes stricter rules for profit tax redirection for sponsorships, patronage
Romania’s tax authority, the National Agency for Fiscal Administration (ANAF) announced, on 28 May 2026, that it has proposed amendments to ANAF Order no. 3562/2024, which governs the procedures for redirecting corporate profit tax toward
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US: JCT publishes detailed explanation of tax overhaul under One Big Beautiful Bill Act
The US Congress Joint Committee on Taxation (JCT) published, on 28 May 2026, its General Explanation of the Tax Provisions of Public Law 119-21, providing a detailed breakdown of the tax measures contained in the One Big Beautiful Bill Act. The
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Kenya: KRA issues guidance on eTIMS reverse invoicing rules
The Kenya Revenue Authority (KRA) has updated its eTIMS guidance by adding a dedicated section on reverse invoicing, offering additional clarity on its practical application. The framework is intended mainly to strengthen compliance in sectors that
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Germany unveils Annual Tax Act 2026 with Pillar Two, VAT, income tax reforms
Germany’s Ministry of Finance has released the draft Annual Tax Act 2026 (Jahressteuergesetz 2026), a wide-ranging legislative package containing numerous technical amendments across the tax system. The proposals are aimed at bringing German law
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Spain: MoF confirms conclusion of ITDRC multilateral convention negotiations with ten countries
The Spanish Ministry of Finance (MoF) issued a joint statement on 25 May 2026 announcing that negotiations on a Multilateral Convention on the International Tax Dispute Resolution Commission have been concluded. Austria, Bulgaria, Denmark,
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New Zealand consults on GST treatment of arranging financial products
New Zealand Inland Revenue has released a draft interpretation statement for public consultation titled “GST – Arranging and brokering financial products” on 21 May 2026. The statement guides when intermediaries or brokers involved in the
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Sweden: Parliament approves dividend withholding tax exemption for foreign states
Sweden’s parliament (Riksdag) approved legislation on 20 May 2026 introducing a withholding tax exemption for dividends paid to foreign states and foreign entities equivalent to Swedish regions, municipalities, or municipal associations. The
See MoreUS: IRS considers adding citizenship question to tax forms
The US Internal Revenue Service (IRS) is weighing whether to require taxpayers to disclose their citizenship status on 2026 tax forms, according to sources familiar with the discussions. The move would represent the Trump administration's latest
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Austria: Government approves tax reform bill with anti-fraud measures, new reporting rules
The Austrian government approved a draft bill introducing amendments to various tax laws on 20 May 2026. The draft bill is intended to promote tax fairness and combat tax fraud, while also reducing the tax burden on workers and simplifying
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Uruguay issues decree clarifying IRPF taxation of foreign-source income, assets, and withholding rules
Uruguay’s Ministry of Economy and Finance, through a Decree issued on 6 May 2026, has introduced detailed rules updating the taxation of income derived from non-resident entities under the Personal Income Tax (IRPF), in line with amendments set
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Hong Kong proposes expanded IP tax deductions to strengthen regional trading hub role
Hong Kong’s government has proposed legislative changes to broaden tax deductions for the acquisition and use of intellectual property, supporting its goal of positioning Hong Kong as a regional IP trading hub. The proposals were presented to the
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Brazil introduces comprehensive indirect tax reform with new regulations for IBS, CBS
Brazil is implementing a major indirect tax reform, replacing five existing taxes — three federal (PIS, COFINS, IPI), one state (ICMS), and one municipal (ISS) — with two new taxes: CBS (federal contribution on goods and services), managed
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