Tuesday, February 24, 2026
The Swedish Government has decided to appoint an inquiry to analyze how new EU rules on value-added tax (VAT) should be implemented in Swedish law. Among other things, the new EU rules require that reporting of trade between EU countries be carried out digitally. This announcement was made on 5 February 2026. For several years,...
Vietnam’s Ministry of Finance (MoF) has released a draft circular outlining a tax framework for crypto and tokenised asset transactions, following Government Resolution No. 05/2025/NQ-CP issued on 9 September 2025. The initiative, set for early 2026, applies existing securities tax rules until a dedicated digital asset regime is established. Under the draft, corporate income tax...
The UK’s tax authority (HMRC) has released a policy paper outlining its approach to the carbon border adjustment mechanism (CBAM) on 10 February 2026. The Carbon Border Adjustment Mechanism (CBAM) legislation and guidance is being developed in the following stages: 1) Primary legislation Primary legislation for CBAM was introduced in the Finance (No.2) Bill 2025...
The Singapore Official Gazette issued Order No. S 64 on 6 February 2026, amending the Income Tax (International Tax Compliance Agreements) (Multilateral Competent Authority Agreement on the Exchange of Country-By-Country Reports) Order 2018 (G.N. No. S 72/2018). The amendment updates the schedule of international tax compliance agreements covered by the Multilateral Competent Authority Agreement (MCAA)...
The Department of the Treasury and the Internal Revenue Service (IRS) announced on 12 February 2026 that it is providing guidance for determining whether electricity-producing qualified facilities, energy storage technologies, or eligible components are receiving material assistance from a prohibited foreign entity (PFE) and would be ineligible for certain energy tax credits. The One, Big,...
Brazil’s Chamber of Deputies is reviewing a draft legislation as of 2 February 2026 to implement a “Tax on Large Fortunes” (IGF), a levy already authorised by the Federal Constitution but never enacted. This proposal seeks to establish a Great Fortunes Tax (IGF) to address economic disparity. The tax would apply to individuals whose total...
The OECD has released the peer review results from the Forum on Harmful Tax Practices, examining preferential tax regimes and low-tax jurisdictions under BEPS Action 5, on 12 February 2026. The reviews, approved by the OECD/G20 Inclusive Framework on 5 February 2026, show continued progress in combating harmful tax practices and improving transparency. The latest...
The Internal Revenue Service announced on 9 February 2026 a new expansion of Tax Pro Account, introducing business-level digital capabilities for tax professionals who work in tax-preparation companies, accounting firms, or other organisations. The latest enhancements give tax-professional businesses greater visibility and control over their Centralised Authorisation File relationship, helping organisations that serve larger numbers...
New York City Mayor Zohran Mamdani proposed raising taxes on high earners and corporations on Wednesday, 12 February 2026, during testimony at the State Senate’s budget hearing. The Democratic mayor reported that the city has narrowed its budget shortfall from USD 12 billion to USD 7 billion through aggressive cost-saving measures, updated revenue projections, and...
According to an OECD update, Montenegro, Oman, Panama, Peru, Rwanda, and Uruguay signed the Multilateral Competent Authority Agreement on Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF MCAA) and the Addendum to the 2024 Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS MCAA). The signing ceremony took place during...