Saturday, August 08, 2026
Italy’s Revenue Agency has announced on 12 March 2026 that Italian taxpayers who purchase revenue stamps in cash for amounts exceeding EUR 500 cannot benefit from the two-year reduction in tax assessment deadlines, according to the Revenue Agency’s response No. 77 issued on 12 March 2026. The two-year deadline reduction for direct taxes and VAT...
The Belgian Parliament has adopted the law on 12 March 2026, implementing Council Directive (EU) 2023/2226 of 17 October 2023 (DAC8) which establishes new reporting and due diligence obligations for crypto-asset service providers. DAC8 provides for automatic exchange of information on crypto-assets between EU countries. It is the eighth amendment of the Directive on Administrative...
Austria’s Ministry of Finance has opened a public consultation on 11 March 2026 on a draft bill that would cut the value-added tax (VAT) on selected staple foods from 10% to 4.9%. The reduction is part of the government’s 2026 reform measures and is planned to take effect from 1 July 2026. The draft bill...
The US Senate unanimously approved the Honor Act (S.327) during the week of 9 March 2026. The legislation prevents American companies from claiming foreign tax credits or deductions on taxes paid to Russia. Introduced by Senators Catherine Cortez Masto and John Cornyn, both Finance Committee members, the bill aims to discourage businesses from financially supporting...
Canada’s Department of Finance confirmed that the Making Life More Affordable for Canadians Act (Bill C‑4) obtained royal assent and entered into force on 12 March 2026. The bill introduces key measures to reduce costs, helping Canadians save hundreds of dollars each year. These measures include: A middle-class tax cut: By lowering the first marginal...
The Australian Taxation Office (ATO) has published final guidance outlining its position on deductions for mining and petroleum exploration expenditure on 12 March 2026. Following the release of the draft for consultation in December 2025, the final version of the addendum to TR 2017/1 Income tax: deductions for mining and petroleum exploration expenditure has now...
Romania’s Ministry of Finance has published the draft consolidated budget for 2026 on 10 March 2026, emphasising fiscal responsibility while maintaining record public investment levels and extensive utilisation of European funds to support economic recovery and local communities. The 2026 state budget sets revenues at RON 391,728.8 million, while expenditure commitments reach RON 712,594.7 million, ...
Finland’s parliament adopted the law proposals HE 196/2025 and HE 6/2026 on 11 March 2026, amending the Law on Minimum Tax by Large Groups (Pillar Two rules) to align with new international guidance and strengthen enforcement mechanisms. The proposal serves three main purposes: incorporating OECD and G20 implementation guidance from 2024 and 2025, allowing the...
The South African Revenue Service (SARS) announced, on 13 March 2026, that registration for Global Minimum Tax is now open on the SARS eFiling system, as part of South Africa’s implementation of the Global Anti‑Base Erosion (GloBE) framework. The introduction of GMT underscores South Africa’s commitment to international tax cooperation, the protection of the domestic...
Hong Kong’s Financial Services Secretary Christopher Hui met with Laos Finance Minister Santiphab Phomvihane on 11 March 2026 to finalise a double taxation treaty, according to a press release. The first round of discussions will commence on 23 March. During the meeting, Hui expressed appreciation to Phomvihane for backing the Comprehensive Avoidance of Double Taxation...