Saturday, July 18, 2026
The OECD has published a working paper examining Investment tax incentives in Latin America and the Caribbean on 30 June 2026. The study covers Argentina, Brazil, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Paraguay, Peru and Uruguay. It compares corporate income tax (CIT) incentives using a standardised classification and forward-looking effective average tax...
Austria’s Budget Measures Act 2026 (Budgetmaßnahmengesetz 2026) entered into force on 1 July 2026 after being published in the Official Gazette (BGBl. I 43/2026) on 30 June. The legislation amends a range of federal laws with measures intended to promote tax fairness, combat tax fraud, reduce the tax burden on workers and simplify administrative procedures....
The OECD has announced on 30 June 2026 the release of the report Revenue Statistics in Asia and the Pacific 2026. Revenue Statistics in Asia and the Pacific 2026 presents detailed, internationally comparable data on public revenues in the Asia-Pacific region up to 2024. The publication finds that tax revenues rose as a share of...
The Federation of Bosnia and Herzegovina (FBiH) is continuing preparations for its new fiscalization framework ahead of the August 2026 deadline for issuing implementing bylaws under the Law on Fiscalization of Transactions. The Tax Administration has completed a preliminary market consultation through a Request for Information (RFI) published on 11 May 2026. The 30-day submission...
The Zimbabwe Revenue Authority (ZIMRA) has published guidance outlining the requirements for exporters seeking to benefit from China’s zero-tariff programme for eligible goods originating from Zimbabwe. Under the programme, qualifying Zimbabwean products exported to China are eligible for duty-free treatment from 1 May 2026 until 30 April 2028. The initiative covers a range of products,...
Cyprus has ratified the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA), with the ratification published in the Official Gazette on 26 June 2026. Having signed the agreement on 12 May 2026, Cyprus joins the framework for the automatic exchange of GloBE Information Return (GIR) data between tax authorities. The GIR...
The Australian Taxation Office (ATO) has updated its guidance on penalty units to reflect an increase in the penalty unit value on 26 June 2026. For infringements occurring on or after 1 July 2026, the penalty unit amount has increased to AUD 364, up from AUD 330, which applied to infringements committed between 7 November...
The US Internal Revenue Service (IRS) published a reviewed version of its Country-by-Country (CbC) Reporting Jurisdiction Status Table on 1 July 2026. The previous update, released on 1 July 2025, reflected the addition of the competent authority arrangement with the Dominican Republic, which became operative on 5 May 2025. The latest review introduces no changes,...
Chile’s Internal Revenue Service (SII) has issued two key updates—Resolution No. 88 of 26 June 2026 and Circular No. 27 of 23 June 2026—to establish the late tax payment interest rates for the second half of 2026 and outline updated forgiveness policies aimed at encouraging timely tax compliance. New late payment interest rates (Resolution No....
Cyprus has ratified the income tax treaty with Kyrgyzstan, with the ratification published in the Official Gazette on 26 June 2026. Signed on 8 June 2026, the agreement is expected to strengthen economic, trade, and investment ties between the two countries by improving the tax framework, reducing administrative and tax burdens, and helping to prevent...