Saturday, June 27, 2026
Romania’s Ministry of Finance has published the draft consolidated budget for 2026 on 10 March 2026, emphasising fiscal responsibility while maintaining record public investment levels and extensive utilisation of European funds to support economic recovery and local communities. The 2026 state budget sets revenues at RON 391,728.8 million, while expenditure commitments reach RON 712,594.7 million, ...
Finland’s parliament adopted the law proposals HE 196/2025 and HE 6/2026 on 11 March 2026, amending the Law on Minimum Tax by Large Groups (Pillar Two rules) to align with new international guidance and strengthen enforcement mechanisms. The proposal serves three main purposes: incorporating OECD and G20 implementation guidance from 2024 and 2025, allowing the...
The South African Revenue Service (SARS) announced, on 13 March 2026, that registration for Global Minimum Tax is now open on the SARS eFiling system, as part of South Africa’s implementation of the Global Anti‑Base Erosion (GloBE) framework. The introduction of GMT underscores South Africa’s commitment to international tax cooperation, the protection of the domestic...
Hong Kong’s Financial Services Secretary Christopher Hui met with Laos Finance Minister Santiphab Phomvihane on 11 March 2026 to finalise a double taxation treaty, according to a press release. The first round of discussions will commence on 23 March. During the meeting, Hui expressed appreciation to Phomvihane for backing the Comprehensive Avoidance of Double Taxation...
The Finnish government had decided to suspend its income tax treaty with Russia, effective 1 July 2026, following Russia’s partial withdrawal from the agreement in August 2023. The announcement was made in a press release issued on 12 March 2026. Finland and Russia signed the tax treaty in 1996, with updates in 2002, designed to...
The Dutch government is evaluating whether to extend mandatory electronic invoicing beyond EU cross-border transactions to include domestic business-to-business dealings, following new European VAT regulations. It has also released a cover letter for the ViDA invoicing and digital reporting report concerning the matter on 10 March 2026. On 11 March 2025, the EU Economic and...
The Spanish Council of Ministers approved the signing of a new income tax treaty with the Netherlands on 10 March 2026. The agreement seeks to prevent double taxation and fiscal evasion. It must go through a process of formal signing, and ratification in both jurisdictions before it can enter into force. Once effective, it will...
The Swiss Council of States approved the ratification of the amending protocol to the 1999 income and capital tax treaty with Croatia on 9 March 2026. Signed on 18 July 2025, the protocol makes updates to the OECD Model Double Taxation Agreement and the implementation of the Multilateral Convention on Base Erosion and Profit Shifting...
Singapore’s Ministry of Trade and Industry said on Thursday, 12 March 2026, that it will engage with the US Trade Representative (USTR) to clarify data and details of a Section 301 trade investigation targeting excess industrial capacity. The USTR notice cited Singapore as having a USD 27 billion trade surplus with the US in 2024,...
The Inland Revenue Authority of Singapore (IRAS) has updated its list of participating jurisdictions under the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country Reports (CbCR) on 6 March 2026. The revised list covers: Armenia, starting in fiscal year 2025; Montenegro, starting in fiscal year 2024; and Mongolia, Serbia, and Vietnam, starting from...