Saturday, August 08, 2026
India has formally implemented the Income-tax Act, 2025, from 1 April 2026, replacing the six-decade-old Income-tax Act, 1961, with the intention to simplify and modernise India’s income tax law. The legislation introduces clearer language, a streamlined structure, and a reader-friendly presentation to enhance compliance, while retaining the existing tax policy. Some of the key measures...
Ecuador’s Internal Revenue Service (SRI) has clarified that the OECD’s Pillar One – Amount B framework has not been adopted in the country, reaffirming that taxpayers must continue to apply existing domestic transfer pricing rules to routine marketing and distribution activities. The position was set out in Circular No. NAC-DGECCGC26-00000001, issued on 25 March 2026,...
The Italian Revenue Agency has introduced new software to facilitate compliance with the Pillar Two global minimum tax framework, marking a significant step in implementing the OECD’s international tax reforms. Companies subject to the supplementary tax rules must now navigate two distinct filing obligations. The first is a notification form that designates which group member...
The Cyprus Tax Department announced on 26 March 2026 an extension for submitting corporate tax returns for the 2023 fiscal year, providing additional time for taxpayers with audited accounts. According to Administrative Directive K.D.P.358/2025, the official deadline for filing the Income Tax Return for Companies (T.F.4) is 31 March 2026. This applies to entities required...
Canada’s Bill C-15, or the Budget 2025 Implementation Act, No. 1, which received Royal Assent on 26 March 2026, introduces a major overhaul of Canada’s transfer pricing regime, repeals the Digital Services Tax, and enacts a wide array of business tax incentives. These measures are designed to strengthen the economy, support investment, and enhance the...
Sweden has published amendments to its Top-up Tax Act (2023:875) in the Official Gazette (SFS 2026:305) on 31 March 2026, allowing a single resident group entity to assume responsibility for a group’s supplementary top-up tax. Key details of the changes: Centralised tax responsibility If all Swedish group entities in a corporate group apply for it,...
Chile has enacted Law No. 21,811-2026, published on 26 March 2026, introducing transitional tax measures to curb increases in domestic kerosene retail prices. Law 21,811 outlines a series of temporary government actions designed to stabilise fuel costs and provide financial relief during an international energy crisis. The legislation suspends the ordinary price-band mechanism of Law...
Belgium has published the legislation implementing the Amending Directive to the 2011 Directive on Administrative Cooperation (2023/2226) (DAC8) in the Official Gazette No. 2026002394 on 1 April 2026. DAC8 provides for the automatic exchange of information on crypto-assets between EU countries. It is the eighth amendment of the Directive on Administrative Cooperation in Direct Taxation....
Japan’s National Diet approved the 2026 tax reform legislation on 31 March 2026, which has been published in the Official Gazette. The measures reflect proposals released in December 2025 and January 2026, covering income, corporate, international, consumption, and vehicle taxes. International tax Provisions align with the global minimum tax and strengthen the controlled foreign company...
Canada’s federal government announced on 1 April 2026 an additional two-year extension of the 2% cap on the annual alcohol excise duty inflation adjustment, and of the 50% reduction on excise duty rates for the first 15,000 hectolitres of beer brewed in Canada, effective 1 April 2026. In Budget 2023, the government announced a temporary...