Saturday, August 08, 2026
The Government of the Russian Federation has approved amendments to the Tax Code at a government meeting held on 29 April 2026, aligning its provisions with a draft federal law establishing comprehensive regulation for the organisation and circulation of digital currencies and digital rights in the Russian Federation under the framework of Tax Regulation and...
France has updated the list of participating jurisdictions for the automatic exchange of information (AEOI) on country-by-country (CbC) reports through an order published in the Official Gazette on 26 April 2026. The update modifies the framework under Article 223 quinquies C of the General Tax Code (CGI), which requires multinational enterprises (MNEs) with consolidated global...
The Board of Directors of the Bank of Russia on 24 April 2026 decided to cut the key rate by 50 basis points to 14.50% per annum, citing easing underlying price pressures and the economy’s gradual return to a balanced growth path. However, measures of underlying price growth have not yet decreased and remain in...
Turkey’s Revenue Administration has announced the publication of Presidential Decision No. 11257 in the Official Gazette on 30 April 2026, introducing amendments to participation exemption rules for foreign earnings and increasing deduction rates for specified service exports under Turkish tax law. The decree revises provisions under Income Tax Law No. 193 and Corporate Tax Law...
The UAE Federal Tax Authority (FTA) has issued Corporate Tax Public Clarification CTP010 to define the terms “director” and “officer” as Connected Persons under the UAE Corporate Tax Law. The clarification is relevant to the rules under Article 36, which restrict the deduction of payments made to Connected Persons where such payments are not at...
The OECD has released a new implementation toolkit to support tax administrations in applying the Global Minimum Tax in a consistent and co-ordinated way, reducing administrative and compliance burdens on 30 April 2026. The OECD has updated its Frequently Asked Questions (FAQs) on the global minimum tax to incorporate details on the Side-by-Side package system....
The Hong Kong Inland Revenue Department (IRD) has released updated lists of Qualifying Debt Instruments (QDIs) eligible for profits tax concessions or exemptions as of 31 December 2025, with the latest update notably expanding coverage to include sovereign bonds qualifying for profits tax exemption. The QDI lists include: Qualifying Debt Instruments issued before 1 April...
The US House of Representatives, on 29 April 2026, approved the fiscal year 2026 budget resolution (S. Con. Res. 33) by a narrow vote of 215-211, launching the reconciliation process that allows Republicans to advance legislation with simple majority votes. The resolution focuses narrowly on funding immigration enforcement and border security operations through the Department...
Croatia’s parliament has approved legislation that ratified the pending income tax treaty with Australia on 30 April 2026. The treaty is the first of its kind between the two countries and follows an agreement between Croatia and Australia on the elimination of double taxation with respect to taxes on income and the prevention of tax...
Switzerland has extended the withholding tax exemption provisions applicable to instruments issued by financial institutions designated as too big to fail (TBTF) for a fixed period until 31 December 2031. This announcement was on 30 April 2026. The extension ensures that banks can continue to issue TBTF instruments in Switzerland on competitive terms, thereby supporting...