Saturday, June 27, 2026
Mongolia’s government submitted a comprehensive tax reform package to Parliament on 30 December 2025, following extensive nationwide consultations with over 13,000 citizens and businesses throughout the year. The proposed amendments to corporate income tax, personal income tax, value-added tax (VAT), and the General Tax Law are scheduled for implementation on 1 January 2027. After organising...
The UK’s Finance (No. 2) Bill 2025-26 was granted Royal Assent on 18 March 2026 and has now been enacted as the Finance Act 2026, introducing measures across income, corporate, and inheritance taxes, environmental levies, and tax administration. Key changes include revised property income rates, reforms to inheritance tax reliefs, a new vaping duty from...
The US Internal Revenue Service (IRS) has scheduled a webinar for 24 March 2026 at 2 PM Eastern time to explain business tax provisions introduced under the One, Big, Beautiful Bill. Tax professionals can earn two continuing education credits for attending the webinar titled: Understanding the One, Big, Beautiful Bill: Business Tax Provisions. The 120-minute...
Australia’s government has gazetted the Taxation (Multinational—Global and Domestic Minimum Tax) (Qualified GloBE Taxes) Amendment (Measures No. 1) Determination 2026 on 20 March 2026, which amends the Taxation (Multinational—Global and Domestic Minimum Tax) (Qualified GloBE Taxes) Determination 2025 and aligns it with the OECD’s central record of jurisdictions that have qualifying global anti-base erosion (GloBE)...
The Cyprus Tax Department announced, on 18 March 2026, the issuance of the 10-year government bond yield rates as of 31 December 2025 for various countries related to the Notional Interest Deduction (NID) on equity investments. These rates will be used to establish the reference interest rate for claiming the notional interest deduction (NID) for...
Cyprus’ Council of Ministers introduced three decrees (K.D.P. 131/2026, 132/2026, and 133/2026) to combat tax abuse involving payments to low-tax and non-cooperative jurisdictions on 13 March 2026. These measures, effective from 1 January 2026, require Cyprus companies to maintain detailed documentation when making interest, dividend, or royalty payments to entities in low-tax jurisdictions (LTJs). LTJs...
The Australian Taxation Office (ATO) has revised its guidance on company tax rates, providing an updated overview of the applicable rates for the 2025–26 income year, as outlined below: Companies Income category Rate (%) Base rate entities 25 Otherwise 30 This includes corporate limited partnerships, strata title bodies corporate, trustees of corporate unit trusts and...
Italy’s Revenue Agency has introduced emergency tax relief measures to combat surging fuel prices, including temporary excise duty cuts and EUR 110 million in tax credits for transport and fishing sectors through Decree Law No. 33 on 18 March 2026. The Decree Law No. 33, effective 19 March 2026, provides road haulage companies with credits...
Israel’s Ministry of Finance and the Banks Association finalised a compromise deal that will see banks transfer ILS 3.25 billion to the state in 2026 and an additional ILS 250 million in 2027. The deal replaces a planned five-year taxation framework with a one-time payment. In return, the proposed legislation to impose an extra tax...
The US Internal Revenue Service (IRS) announced on 20 March 2026 that over 1.3 million people across the nation have unclaimed refunds for tax year 2022 and face an 15 April deadline to submit their tax returns. The IRS estimates that approximately USD 1.2 billion in refunds remains unclaimed for taxpayers who have not filed...