Saturday, July 18, 2026
US President Donald Trump, on 26 June 2026, pledged to impose 100% tariffs on European countries that introduce new digital services taxes (DSTs) primarily targeting US-based companies. However, he made no mention of how he would legally enforce such duties. He said DSTs would be met with the full tariff response “right away,” independent of...
Italy’s Department of Finance has launched a public consultation on 22 June 2026 regarding a draft legislation implementing part of the EU Directive 2025/516 regarding VAT rules for the digital age (often referred to as ViDA). The proposed rules primarily cover the One-Stop Shop (OSS), Import One-Stop Shop (IOSS), and Single VAT Registration measures, affecting...
The UAE issued Ministerial Decision No. 96 of 2026 (MD 96/2026), on 22 June 2026, which formally adopts the most recent OECD interpretive materials for the UAE’s Qualified Domestic Minimum Top-up Tax (QDMTT) regime. It specifically adopts three main OECD packages: the 2026 Consolidated Commentary on the GloBE Model Rules, the 2026 Administrative Guidance/Central Record...
The OECD has published a report titled “Revenue Statistics in Asia and the Pacific 2026,” on 30 June 2026, which delivers a comprehensive analysis of fiscal trends and tax revenues across 38 economies from 1990 to 2024. This report utilises a standardised methodology to present internationally comparable data, highlighting that the regional average tax-to-GDP ratio...
Bosnia and Herzegovina has adopted a regulation establishing the procedures for VAT refunds on the first supply of residential property for eligible first-time home buyers. The rules apply to purchases of newly built residential properties subject to VAT and define who can claim the refund, how it is calculated, and the obligations applicants must meet...
The UK’s HM Revenue & Customs (HMRC) has published a memorandum of understanding (MoU) with Sweden setting out the arbitration procedures under Article 23 of the 2015 UK-Sweden Double Taxation Convention, as amended by the 2021 Protocol. The MoU was signed on 9 June 2026 and announced on 30 June 2026. The memorandum provides detailed...
Germany published the Ninth Act Amending Provisions in Tax Consultancy Law and Tax Law in the Official Gazette on 2 July 2026. The legislation introduces extensive reforms to the regulation of tax advisors and tax advisory organisations while amending several tax laws, including the Real Estate Transfer Tax Act, Trade Tax Act, Fiscal Code and...
The Swedish government has proposed reforms to simplify Value Added Tax (VAT) rules for second-hand goods and food donations, with amendments to the Value Added Tax Act (2023:200) aimed at reducing administrative burdens for businesses while supporting reuse and reducing food waste. The legislative proposal was published on 2 July 2026 and referred to the...
Cyprus and Sweden signed an amending protocol to their income tax treaty on 3 July 2026 in Lefkosia, with Cyprus Minister of Finance Makis Keravnos and Swedish Ambassador Martin Hagström serving as signatories. The protocol marks the first revision to the original treaty, which was signed on 25 October 1988. The update aligns the 1988...
Chile’s government announced that President José Antonio Kast and Paraguayan President Santiago Peña signed a new income and capital tax treaty on 1 July 2026. The new trade agreement with Paraguay eliminates double taxation on the same income and assets, providing greater legal certainty for workers and businesses in both countries. It also introduces modern...