Saturday, August 08, 2026
The OECD published an updated list of signatories, including their signing dates, to the Multilateral Competent Authority Agreement on the Exchange of Global Anti-Base Erosion (GloBE) Information Returns (GIR MCAA) on 5 May 2026. The agreement facilitates the automatic exchange of GloBE Information Returns between tax authorities and reduces compliance costs for multinational enterprise groups...
Malta’s Commissioner for Revenue has announced that the electronic corporate income tax return for the year of assessment 2026 is now available through its online services. The supplemental document for Fiscal Units is also available for download. Several updates have been introduced to the tax return for the year of assessment 2026. On page 2...
Indonesia is preparing to introduce export duties and a windfall tax on its coal and nickel sectors to help offset growing subsidy costs in the national budget, Finance Minister Purbaya Yudhi Sadewa announced on 4 May 2026. The minister explained that both commodities currently face zero export duties, which has created opportunities for under-invoicing and...
Bulgaria’s Council of Ministers has approved and submitted a draft bill to the National Assembly on 7 May 2026 to transpose two European Union directives into national law: Council Directive (EU) 2023/2226 (DAC8) and Council Directive (EU) 2025/872 (DAC9). The legislation also introduces amendments to the country’s transfer pricing framework. DAC8: Crypto-asset reporting requirements The...
Tax authorities across several jurisdictions are accelerating the rollout of compliance systems for the OECD’s Pillar Two global minimum tax regime, with new filing portals, technical specifications, deferrals and reporting procedures now being introduced ahead of the first major deadlines in 2026. The developments reflect a broader global shift from policy design to administration and...
A US trade court has ruled against President Donald Trump’s 10% temporary global tariffs, declaring them unlawful under a 1970s trade statute. However, the decision only blocks the duties for three specific parties, leaving them in effect for most importers. The US Court of International Trade delivered a 2-1 verdict stating that Trump’s use of...
The Swiss Federal Council has opened a consultation on 6 May 2026 on an amendment to the Ordinance on Minimum Taxation, implementing two parliamentary motions of identical content (motions 25.4392 and 25.4399). The proposed revision concerns the timing of application in Switzerland of an OECD administrative instruction related to the OECD minimum taxation framework. Since...
Montenegro has set the deemed arm’s length interest rate for 2026 at 4.97% after the Ministry of Finance adopted a Rulebook regulating interest rates on financial instruments between related parties. The Rulebook was published in the Official Gazette of Montenegro No. 145 on 11 December 2025, entered into force eight days later, and applied from...
Rwanda has issued new rules governing the application of value-added tax (VAT) on online goods and services through Ministerial Order No. 004/26/10/TC, published in the Official Gazette on 29 April 2026. The Order implements the VAT framework for digital transactions introduced under Law No. 049/2023 of 5 September 2023 and also establishes procedures for invoice...
The UK HM Revenue & Customs (HMRC) has confirmed changes to the Electricity Generator Levy (EGL), increasing the rate from 45% to 55% with effect from 1 July 2026, according to a policy paper released on 6 May 2026. The EGL applies to certain electricity generators, mainly renewable operators such as wind and solar, that...