Sunday, June 07, 2026
The UK’s His Majesty’s Revenue and Customs (HMRC) issued new guidance on 19 May 2026 outlining a transitional approach to Global Information Return (GIR) filing and exchange under the OECD’s Pillar Two framework. The guidance follows the common understanding on GIR filing published by the Organisation for Economic Co-operation and Development (OECD) on 18 May...
Japan’s House of Representatives approved a new income tax treaty with Kyrgyzstan on 19 May 2026. On 14 May 2026, lawmakers reviewed and passed the draft ratification law in its first reading. The parliament completed the ratification process on 20 May 2026, approving the Income Tax Treaty that was originally signed in Tokyo on 19...
Turkey reduced the withholding tax rate on progress payments for nuclear power plant construction and repair work from 5% to 1% under Presidential Decision No. 11344 on 18 May 2026. The Decision amends withholding tax provisions under article 94 of the Individual Income Tax Law and articles 15 and 30 of the Corporate Income Tax...
Colombia’s Supreme Administrative Court has provisionally suspended articles 2-8 of Decree 572 of 2025, which introduced sweeping changes to income tax withholding and self-withholding rules. The suspension halts implementation while legal review continues. The decree was designed to boost tax collection by lowering withholding thresholds, expanding transactions subject to withholding, and introducing sector-based self-withholding rates...
Saudi Zakat, Tax and Customs Authority (ZATCA) urged business sector establishments subject to VAT, with goods and service revenues exceeding SAR 40 million to file their tax returns for April 2026. The deadline for submission is no later than 31 May 2026. ZATCA has called on establishments to file their tax returns immediately through ZATCA’s...
The South African Revenue Service (SARS) will, from 1 June 2026, require all foreign-registered vehicles to be declared on the SARS Traveller Management System (TMS) prior to entry into or exit from South Africa. SARS Commissioner Dr Johnstone Makhubu said that the measure aligns South Africa with established international Customs practice and forms part of...
Poland’s Sejm (lower house of parliament) approved a government bill on 15 May 2026 that introduces significant changes to tax administration, aimed at reducing bureaucracy and streamlining processes for taxpayers. The legislation has now been forwarded to the Senate for final approval. Domestic tax scheme reporting eliminated A key provision in the bill removes the...
Taiwan’s Northern Taiwan National Taxation Bureau of the Ministry of Finance announced that the filing period for the 2025 profit-seeking enterprise income tax return is from May 1 to May 31, 2026 (extended to June 1 if the deadline falls on a holiday). Enterprises that fall under the scope of Controlled Foreign Corporations (CFCs) must...
The Irish High Court, in a judgment delivered by Ms Justice Marguerite Bolger on 12 May 2026, ruled on a tax dispute involving Accenture Global Solutions Limited, an Irish tax-resident company, concerning the treatment of Foreign Royalty Withholding Tax (FWHT) incurred in its cross-border intellectual property licensing activities. The central issue was whether FWHT paid...
Italy’s Ministry of Finance has issued the Provision of 12 May 2026, which updates Italy’s list of jurisdictions for automatic financial account information exchange under the Common Reporting Standard (CRS). The update follows Italy’s implementation of Law 95/2015, which addresses Italian financial institutions’ compliance obligations for automatic information exchange. This stems from agreements with the...