Saturday, August 08, 2026
Brazil’s government celebrated the US decision on 24 February 2026 to eliminate tariffs on Brazilian aircraft imports, reducing duties from 10% to zero amid broader US trade policy shifts. The tariff removal significantly benefits Brazil’s aerospace industry, particularly planemaker Embraer, which previously faced disadvantages against competitors like Canada’s Bombardier and France’s Dassault Aviation—both already enjoying...
Saudi Arabia has modified its government procurement policy by introducing an exemption mechanism that allows government entities to contract with foreign companies without a regional headquarters (RHQ) in the Kingdom under specific circumstances. The Local Content and Government Procurement Authority now permits government bodies to request exemptions through the Etimad Platform’s dedicated e-service. This approach...
The Netherlands Ministry of Finance has published a collective decision, which was published in Official Gazette No. 8286 of 25 February 2026 on 25 February 206, addressing the widespread objections to corporate income tax interest charges dating back to 1 October 2020. To handle the high volume of complaints efficiently, the State Secretary of Finance...
The US Internal Revenue Service (IRS) has released Notice 2026-17, addressing revisions to the rules for calculating taxable income or loss and foreign currency gain or loss related to a qualified business unit under Section 987. Notice 2026-17: Modifications to Rules for Computing Taxable Income or Loss and Foreign Currency Gain or Loss Under Section...
With a view to boosting EU competitiveness, the EU Council announced the approval of a simplification of the sustainability reporting and due diligence requirements for companies on 24 February 2026. This legislation simplifies the directives on corporate sustainability reporting (CSRD) and corporate sustainability due diligence (CS3D) by reducing the reporting burden and limiting the trickle-down...
Taiwan’s Central District National Taxation Bureau of the Ministry of Finance has reminded professionals, including doctors, lawyers, and accountants, that they are legally required to maintain accounting books and preserve supporting vouchers. The Bureau said that complying professionals can access tax benefits, including deducting 150% of salary expenses paid to employees during periods of official...
South Africa’s Minister of Finance, Enoch Godongwana, delivered the 2026 Budget Speech on 25 February 2026, setting out the government’s fiscal priorities and economic direction for the year ahead. The Budget focuses on stabilising public debt and promoting inclusive economic growth through disciplined expenditure and structural reforms, particularly in the energy and logistics sectors. It...
Hong Kong’s Financial Secretary Paul MP Chan delivered the 2026-27 Budget on 25 February 2026. Under the theme of “Driving High-quality, Inclusive Growth with Innovation and Finance,” the budget introduces a mix of one-off relief measures and long-term structural tax changes designed to maintain competitiveness while addressing the needs of residents and enterprises. A significant...
US Trade Representative (USTR) Jamieson Greer announced, on 25 February 2026, that tariff rates will increase to 15% or higher for certain countries, up from the current 10% rate that took effect on 24 February 2026. However, he did not specify which nations would face the higher duties. On 25 February 2026, the US began...
The Japanese Ministry of Foreign Affairs announced on 20 February 2026 that the fourth round of negotiations with Ukraine on revising the Investment Protection Agreement (2015) took place from 17 to 19 February 2026. Both parties committed to ongoing talks to reach a swift conclusion to the negotiations. Earlier, Japan’s Ministry of Finance announced on...