Saturday, August 08, 2026
Arkansas Governor has approved a fresh round of tax reductions that will lower rates for both individuals and businesses across the state. The legislation, signed into law on 6 May 2026, cuts the corporate tax rate from 4.3% to 4.1%, though businesses will need to wait until 1 January 2027 for this change to take...
The Finnish Tax Administration has issued updated guidance on paying non-wage compensation to non-resident foreign companies on 6 May 2026. The guide outlines the rules and procedures for withholding tax at source on compensation paid for work and services performed in Finland. The guide covers: 1. General information on the taxation of a non-resident company...
Australia’s Treasurer, Jim Chalmers, delivered the 2026-27 federal budget in parliament on 12 May 2026. The 2026-27 budget outlines a comprehensive vision for tax reform in Australia, focusing on supporting workers, incentivising business investment, and making the system more sustainable. The key highlights of the 2026-27 budget are as follows: Capital gains tax and housing...
Turkey’s Revenue Administration announced on 11 May 2026 that an income tax treaty has been signed with Zambia, bringing the total number of tax treaties concluded by Turkey to 107. The agreement was signed on 21 April 2026 during the Joint Economic Commission meeting in Ankara. It is intended to improve the investment environment in...
Turkey’s Revenue Administration has issued General Communiqué No. 593 on the Tax Procedure Law (TPL), introducing the final procedures and principles for issuing electronic documents (e-Documents) through new generation payment recording devices (YN ÖKC). The Communiqué was published in the Official Gazette on 8 May 2026. The measure follows a draft proposal released in December...
The UK has increased late filing penalties for Corporation Tax (CT) for all returns due on or after 1 April 2026. This measure, originally announced in Budget 2025, is now in effect. HM Revenue & Customs (HMRC) is currently in the process of updating its systems to ensure the new penalty amounts are applied correctly....
The German Federal Council approved the Act Amending the Act on the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), expanding the scope of covered agreements (tax treaties) for the purposes of the MLI on 8 May 2026. Germany originally designated 14 tax treaties as covered agreements...
Taiwan’s Dongshan Office, National Taxation Bureau of the Central Area, Ministry of Finance, states that according to the Ministry of Finance’s announcement No. 11404664830 issued on 19 November 2025, for the fiscal year 2026, Profit-seeking Enterprises with a basic income amount of TWS 600,000 or less are exempt from paying income tax under the Income...
The Financial Administration of the Republic of Slovenia (FURS) announced, on 6 May 2026, that it has enabled test submissions of Pillar Two top-up tax returns on the BETA eDavki portal. The functionality covers two types of returns. The GloBE-ODPD return is used for declaring top-up tax under the Qualified Domestic Minimum Top-up Tax (QDMTT)...
Kazakhstan is moving forward with the implementation of the Crypto Asset Reporting Framework (CARF), as stated in a recent OECD update on 6 May 2026. The jurisdiction plans to initiate the first exchange of information under this standard in 2027. On 5 May 2026, experts from the Secretariat delivered a virtual training event bringing together...