Sunday, May 17, 2026
The Swiss Federal Council published a dispatch on 7 May 2026 concerning a draft amendment to extend the reduced VAT rate of 3.8% for the accommodation services sector, including hotels. Under current legislation, the reduced VAT rate of 3.8% is scheduled to expire after 31 December 2027. The draft amendment proposes extending its application until...
The Austrian Parliament is reviewing a draft bill amending the Value Added Tax Act 1994 (Umsatzsteuergesetz 1994) to introduce a reduced VAT rate of 4.9% on selected basic foodstuffs. The measure was approved by the Finance Committee on 12 May 2026 and has been submitted to the National Council for constitutional approval. The proposed amendment...
Peru has issued Superintendency Resolution No. 000075-2026/SUNAT of 30 April 2026 in the Official Gazette, introducing changes to the timing for mandatory electronic invoicing and the use of the Integrated System of Electronic Records (Sistema Integrado de Registros Electrónicos – SIRE), alongside a separate update postponing new entry fees for the Machupicchu Historical Sanctuary. SUNAT...
Taiwan’s Southern Area National Taxation Bureau of the Ministry of Finance, stated that in order to encourage companies to invest resources in R&D, transformation, and innovation activities, and to accelerate intelligentisation, digitalisation, and low-carbonisation processes to upgrade industrial structure and international competitiveness, in accordance with Article 10 and Article 10-1 of the Statute for Industrial...
The French tax authority has published updated reference interest rates used to determine the deductibility of interest payments to shareholders, including for companies with fiscal years ending between 31 March 2026 and 29 June 2026. Under the French General Tax Code (CGI), interest paid to associates or shareholders for funds provided to a company beyond...
Portugal’s Assembly of the Republic has approved Assembly Decree 69/XVII (Draft Law 64/XVII/1), setting out the transposition of two EU tax cooperation directives covering crypto-assets and global minimum tax reporting, according to the parliamentary publication dated 11 May 2026. The decree implements Council Directive (EU) 2023/2226 (DAC8) and Council Directive (EU) 2025/872 (DAC9). It now...
The UK HM Revenue & Customs (HMRC) updated its guidance on “How to report Pillar Two Top-up Taxes” on 14 May 2026, adding details of a testing period for the new information return service ahead of its launch on 19 May 2026. HMRC said the information return service will be tested between 13 and 18...
Hungary’s National Tax and Customs Administration (NAV) has published an explanatory guide to the GloBE Information Return (GIR) XML schema, aligned with OECD definitions, to clarify data reporting requirements under the country’s DAC9 framework. Released on 13 May 2026, the guide details the data points set out in the relevant Ministry of Finance decree and...
Brazil’s tax administration, the Federal Revenue Service (RFB), has broadened access to debt instalment plans by allowing taxpayers to settle non-tax obligations through simplified digital channels through a notice released on 14 May 2026. The reform took effect in October 2025 through an amendment to Normative Instruction RFB No. 2,063/2022. Under the updated regulations, taxpayers...
Kenya’s revenue authority (KRA) released a public notice on 10 April 2026 regarding updates to the market interest rate for fringe benefit tax and the deemed interest rate on specific non-resident loans for April, May, and June 2026. The rates remain unchanged from the rates previously announced on 22 January 2026. Fringe benefit tax For...