Saturday, August 08, 2026
The Cyprus Tax Department announced, on 18 March 2026, the issuance of the 10-year government bond yield rates as of 31 December 2025 for various countries related to the Notional Interest Deduction (NID) on equity investments. These rates will be used to establish the reference interest rate for claiming the notional interest deduction (NID) for...
Cyprus’ Council of Ministers introduced three decrees (K.D.P. 131/2026, 132/2026, and 133/2026) to combat tax abuse involving payments to low-tax and non-cooperative jurisdictions on 13 March 2026. These measures, effective from 1 January 2026, require Cyprus companies to maintain detailed documentation when making interest, dividend, or royalty payments to entities in low-tax jurisdictions (LTJs). LTJs...
The Australian Taxation Office (ATO) has revised its guidance on company tax rates, providing an updated overview of the applicable rates for the 2025–26 income year, as outlined below: Companies Income category Rate (%) Base rate entities 25 Otherwise 30 This includes corporate limited partnerships, strata title bodies corporate, trustees of corporate unit trusts and...
Italy’s Revenue Agency has introduced emergency tax relief measures to combat surging fuel prices, including temporary excise duty cuts and EUR 110 million in tax credits for transport and fishing sectors through Decree Law No. 33 on 18 March 2026. The Decree Law No. 33, effective 19 March 2026, provides road haulage companies with credits...
Israel’s Ministry of Finance and the Banks Association finalised a compromise deal that will see banks transfer ILS 3.25 billion to the state in 2026 and an additional ILS 250 million in 2027. The deal replaces a planned five-year taxation framework with a one-time payment. In return, the proposed legislation to impose an extra tax...
The US Internal Revenue Service (IRS) announced on 20 March 2026 that over 1.3 million people across the nation have unclaimed refunds for tax year 2022 and face an 15 April deadline to submit their tax returns. The IRS estimates that approximately USD 1.2 billion in refunds remains unclaimed for taxpayers who have not filed...
The Russian Ministry of Finance (MoF) has clarified the timeframe for refunding corporate income tax previously withheld from payments made to foreign organisations. The official position was outlined on 12 March 2026 in Letter No. 03-08-13/6622. According to the letter, a foreign recipient of income, or their representative, must submit an application for a tax...
The Swiss Federal Tax Administration (FTA) has announced that the GloBE Information Return (GIR) application is now available on the federal government’s online portal. The application allows companies to register for GIR purposes and submit their GloBE Information Return directly to the FTA. Under the GIR framework, the FTA exchanges information with foreign tax authorities...
Luxembourg’s parliament passed a law implementing EU Directive 2023/2226 (DAC8), introducing stricter reporting and due diligence requirements for crypto-asset service providers (CASPs). Under the law, CASPs must collect users’ tax residency, names, addresses, tax IDs, dates of birth, and transaction details. They must submit reports to the Administration des contributions directes (ACD) by 30 June...
The UK’s HM Revenue & Customs (HMRC) has initiated a public consultation on proposed rules for reporting transactions between close companies and their participators on 19 March 2026. This consultation seeks views on proposals to introduce new requirements to report transactions between close companies and their participators to HMRC. The aim is to explore the...