Sunday, June 07, 2026
The UK HM Revenue & Customs (HMRC) has issued a policy paper outlining proposed changes to the tax treatment of foreign permanent establishments, also known as foreign branches on 21 May 2026. For most companies, it will be mandatory for profits and losses attributable to a foreign PE to be exempt from UK tax for...
New Zealand Inland Revenue has released a draft interpretation statement for public consultation titled “GST – Arranging and brokering financial products” on 21 May 2026. The statement guides when intermediaries or brokers involved in the supply of financial products will be treated as making an exempt supply of financial services for GST purposes through “arranging”,...
Sweden’s parliament (Riksdag) approved legislation on 20 May 2026 introducing a withholding tax exemption for dividends paid to foreign states and foreign entities equivalent to Swedish regions, municipalities, or municipal associations. The exemption covers dividends distributed by Swedish limited liability companies, European companies with a registered office in Sweden, as well as Swedish investment funds...
Uruguay has enacted new measures on dividend withholding tax and the taxation of indirect transfers of Uruguayan assets under Law No. 20446 of 16 December 2025, included in the country’s 2025-2029 National Budget. The changes maintain the existing 7% withholding tax on gross dividends distributed to non-residents from profits subject to corporate tax (IRAE), unless...
Taiwan’s Ministry of Finance (MoF) has announced the upcoming income tax return deadline for the year 2025. As of 24 May 2026, 5,076,273 individual income tax returns have been filed, accounting for 72.7% of the total individual income tax returns filed during last year’s statutory filing period (6,982,963); and 839,108 profit-seeking enterprise annual income tax...
Turkey’s Grand National Assembly (TBMM) on 21 May approved Law No. 7582, a broad legislative package containing tax and investment measures, which was first announced by the Turkish President in April 2026. The law introduces amendments to several tax laws, including the Corporate Tax Law, Income Tax Law, Inheritance and Transfer Tax Law, and the...
The Kaohsiung National Taxation Bureau of the Ministry of Finance announced on 25 May 2026 that, for any reason, those who are unable to submit their CFC financial statements within the prescribed period may apply to their local tax authority for an extension before the deadline for filing their corporate income tax return. Alternatively, they...
OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has released the Tax Transparency in Latin America 2026: Latin America Initiative Progress Report on 25 May 2026, outlining regional progress in implementing international tax transparency standards and assessing their impact. Steady progress on tax transparency increasingly translates into domestic revenue rewards for...
The EU and Mexico have taken a major step forward in their partnership by signing the Modernised Global Agreement (MGA) and interim Trade Agreement (iTA) on 22 May 2026 At the 8th EU-Mexico Summit in Mexico City, both sides agreed to deepen their political and economic cooperation at a time of growing global uncertainty. The...
Italy’s Revenue Agency has announced that the government has introduced Legislative Decree no. 89/2026, published on 25 May 2026, implementing comprehensive tax relief measures to ease the burden of rising fuel costs on citizens and businesses. The decree runs from 23 May through 6 June 2026. Excise duty reductions on fuel The decree temporarily reduces...