Saturday, June 27, 2026
The Trump administration announced two new trade investigations on 11 March 2026, targeting unfair trade practices and forced labour as it seeks to rebuild tariff pressure following the US Supreme Court’s dismantling of Trump’s tariff program in February 2026. US Trade Representative Jamieson Greer initiated a Section 301 investigation into excess industrial capacity across 16...
The Spanish Council of Ministers has approved the signing of a new income tax treaty with Montenegro on 10 March 2026. The treaty seeks to eliminate double taxation and prevent tax evasion. The updated treaty aligns with current international standards, incorporating OECD/G20 Base Erosion and Profit Shifting (BEPS) recommendations. Earlier, Montenegro’s government approved the signing...
Argentina’s government has published Law No. 27,802/2026 in the Official Bulletin on 6 March 2026, which entered into force on the same day, introducing amendments to the existing income tax, VAT, excise duties, and other taxes. Income tax The key changes introduced to the Income Tax Law are as follows: Loss updates: Tax losses generated...
Taiwan’s Northern District National Taxation Bureau has issued a reminder to businesses regarding the Controlled Foreign Company (CFC) rules, which came into effect in 2023. The rules were introduced to prevent multinational enterprises from establishing controlled foreign companies (CFC) in low-tax burden countries or jurisdictions to keep surplus earnings undistributed to avoid the tax burden...
The European Commission announced on 11 March 2026 that it will refer Spain to the Court of Justice of the European Union for failing to transpose two separate Directives related to VAT measures into national law. Council Directive (EU) 2020/285 introduced substantial changes to the VAT rules applicable to small businesses (SMEs) and aims to create...
Portugal’s Supreme Administrative Court has ruled that foreign-source income is generally liable for municipal surcharge unless it can be attributed to a foreign permanent establishment. The judgment, issued on 25 February 2026, followed a case brought by a Portugal-resident company challenging the surcharge on interest income from debt securities issued by foreign entities. The company...
Poland’s Ministry of Finance announced, on 11 March 2026, that the Act on the Exchange of Tax Information with Other Countries and Certain Other Acts has been signed into law. The legislation implements Council Directive (EU) 2023/2226 (DAC8) and Council Directive (EU) 2025/872 (DAC9), strengthening the framework for international tax information exchange. It enters into...
The UK tax authority, HM Revenue & Customs (HMRC) has initiated a consultation on 10 March 2026 regarding the updates and standardisation of the format of UK corporation tax computations. The government is introducing prescribed formats for Corporation Tax computations to improve the quality and consistency of Corporation Tax data. This consultation invites feedback on...
The UK government will abolish the shadow Advance Corporation Tax (ACT) system from April 2026, streamlining the way businesses can use their existing ACT balances. Shadow Advance Corporation Tax (Shadow ACT) is a UK notional tax mechanism introduced on 6 April 1999 after the abolition of Advance Corporation Tax (ACT). It limits how quickly companies...
Taiwan’s Northern District National Taxation Bureau of the Ministry of Finance clarified today, 12 March 2026, that income derived by profit-seeking enterprises from investments in foreign financial products constitutes overseas income. Such income does not fall within the scope of withholding tax but is classified as overseas income. In accordance with Article 3, Paragraph 2...