Monday, April 27, 2026
India has increased windfall taxes on aviation turbine fuel (ATF) and diesel exports, following a further rise in global oil prices since the levy was first introduced on 26 March. According to notifications from the Ministry of Finance and the Central Board of Indirect Taxes & Customs, the Special Additional Excise Duty (SAED) on ATF...
Iceland’s government has approved a package of emergency economic measures to curb inflation and mitigate the impact of soaring oil prices triggered by the conflict in the Persian Gulf region. The temporary interventions, set to run from 1 May 2026 through 31 August 2026, are designed to cushion Icelandic households and businesses from sharp price...
Paraguay’s National Directorate of Tax Revenues (DNIT) announced the issuance of General Resolution DNIT No. 50/26 on 7 April 2026, which extends the submission of Financial Statements. The deadline for corporate taxpayers to submit financial statements for the fiscal year, which ended 31 December 2025, has been extended to 30 June 2026, from April 2026....
New Zealand’s Inland Revenue (IR) has issued updated guidance on Transfer Pricing Documentation and Thin Capitalisation Rules on 31 March 2026, replacing earlier versions from 2025 and 2021. The transfer pricing (TP) documentation guidance introduces a stricter compliance stance. IR now states that where documentation is inadequate and a TP adjustment is made, “penalties will...
Cyprus Tax Department issued Circular 1/2026 on 9 April 2026, which formally establishes the list of jurisdictions classified as low-tax jurisdictions for the 2026 tax year. This circular is a critical component of Cyprus’s implementation of defensive tax measures aimed at transactions involving jurisdictions with significantly lower taxation than Cyprus. A jurisdiction is generally considered...
Greece has updated the list of jurisdictions participating in the Multilateral Competent Authority Agreement (MCAA) on the exchange of country-by-country (CbC) reports for the 2024 tax year, according to Decision No. A 1080 published in the Official Gazette on 2 April. Greece CbC exchange jurisdictions (MCAA – 2024) Mutual (58) Non-mutual (19) San Marino, Albania,...
Malaysia has gazetted the Income Tax (Accelerated Capital Allowance) (Information and Communication Technology Equipment for the Implementation of Electronic Invoice) Rules 2026 and the Income Tax (Accelerated Capital Allowance) (Development Cost for Customised Computer Software for the Implementation of Electronic Invoice) Rules 2026 on 7 April 2026. The rules enhance accelerated capital allowance incentives to...
The Czech Republic’s Ministry of Finance has announced that the Czech Republic and Argentina signed an income and capital tax treaty on 14 April 2026. This agreement aims to prevent double taxation on income and capital between the two countries while addressing tax avoidance and evasion issues. The agreement covers Argentina’s income tax and personal...
The Philippines Bureau of Internal Revenue (BIR) has issued Bank Bulletin No. 2026-04 on 7 April 7, 2026, which reiterates the procedures for Authorised Agent Banks (AABs) to follow regarding the 2025 Calendar Year Annual Income Tax Returns (AITR). The directive instructs that AABs are required to accept Annual Income Tax Returns (AITRs) filed through...
The Australian Treasury launched a public consultation on 10 April 2026 covering draft legislation aimed at strengthening the foreign resident capital gains tax (CGT) regime. The consultation covers two draft bills: the Treasury Laws Amendment Bill 2026: Strengthening the foreign resident CGT regime and the Treasury Laws Amendment Bill 2026: Renewable energy asset discount capital...