Saturday, August 08, 2026
The European Commission announced on 11 March 2026 that it will refer Spain to the Court of Justice of the European Union for failing to transpose two separate Directives related to VAT measures into national law. Council Directive (EU) 2020/285 introduced substantial changes to the VAT rules applicable to small businesses (SMEs) and aims to create...
Portugal’s Supreme Administrative Court has ruled that foreign-source income is generally liable for municipal surcharge unless it can be attributed to a foreign permanent establishment. The judgment, issued on 25 February 2026, followed a case brought by a Portugal-resident company challenging the surcharge on interest income from debt securities issued by foreign entities. The company...
Poland’s Ministry of Finance announced, on 11 March 2026, that the Act on the Exchange of Tax Information with Other Countries and Certain Other Acts has been signed into law. The legislation implements Council Directive (EU) 2023/2226 (DAC8) and Council Directive (EU) 2025/872 (DAC9), strengthening the framework for international tax information exchange. It enters into...
The UK tax authority, HM Revenue & Customs (HMRC) has initiated a consultation on 10 March 2026 regarding the updates and standardisation of the format of UK corporation tax computations. The government is introducing prescribed formats for Corporation Tax computations to improve the quality and consistency of Corporation Tax data. This consultation invites feedback on...
The UK government will abolish the shadow Advance Corporation Tax (ACT) system from April 2026, streamlining the way businesses can use their existing ACT balances. Shadow Advance Corporation Tax (Shadow ACT) is a UK notional tax mechanism introduced on 6 April 1999 after the abolition of Advance Corporation Tax (ACT). It limits how quickly companies...
Taiwan’s Northern District National Taxation Bureau of the Ministry of Finance clarified today, 12 March 2026, that income derived by profit-seeking enterprises from investments in foreign financial products constitutes overseas income. Such income does not fall within the scope of withholding tax but is classified as overseas income. In accordance with Article 3, Paragraph 2...
The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the fourth quarter of the 2025-26 income year on 6 March 2025. For the quarter commencing on 1 April 2026, the GIC annual rate is set at 10.96%, and the SIC annual rate is set at...
The European Commission sent a letter of formal notice to France for applying national criteria to determine whether a parent company qualifies for a withholding tax exemption on subsidiary distributions, in its March 2026 infringements package. The Commission considers this requirement to be inconsistent with the EU Parent-Subsidiary Directive (Council Directive 2011/96/EU). This Directive provides...
The South African Revenue Service (SARS) has issued an explanation of the reporting obligations and deadlines for crypto-asset service providers (CAPSs) under the Crypto-Asset Reporting Framework (CARF). The first reporting period runs from 1 March 2026 to 28 February 2027. The CARF return for this initial period must be submitted to SARS by 31 May...
Belarus’s Ministry of Foreign Affairs reported that on 4 March 2026, officials from Belarus and Ghana met to strengthen bilateral cooperation, including negotiations on a tax treaty aimed at preventing double taxation and fiscal evasion. The talks covered a broad range of issues, with particular focus on preparations for the upcoming visit of Ghanaian President...