Tuesday, March 17, 2026
Bangladesh has asked Bhutan to submit a proposal for a potential free trade agreement (FTA) following Bhutan’s interest in upgrading the existing preferential trade agreement (PTA), Commerce Secretary Mahbubur Rahman said on 12 March 2026. Once received, the proposal will be examined by the government’s technical committee on trade before a final decision is made....
The UK has amended its Climate Change Levy (CCL) rules with the introduction of the Climate Change Levy (Fuel Use and Recycling Processes) (Amendment) Regulations 2026, made on 11 March 2026 and effective from 12 March 2026. The regulations update the Climate Change Levy (Fuel Use and Recycling Processes) Regulations 2005, broadening the list of...
Bangladesh’s National Board of Revenue (NBR) has announced extensions for key tax return submissions, offering businesses additional time to complete mandatory filings. For the 2025-26 tax year, companies now have until 15 April 2026 to submit their income tax returns, a one-month extension from the previous deadline of 15 March. The move follows formal requests...
The UK’s HM Revenue & Customs (HMRC) initiated a public consultation, on 12 March 2026, regarding the expansion and improvement of the Uncertain Tax Treatment (UTT) regime, under which large in-scope taxpayers must inform HMRC of any uncertain tax treatment. This consultation aims to reduce the legal interpretation portion of the tax gap by requiring...
Romania’s tax administration, the National Agency for Fiscal Administration (ANAF), announced on 13 March 2026 that it is modifying Order No. 352/2022, which governs the procedure for handling negative VAT amounts with refund requests. Under the existing procedure, taxpayers registered for VAT purposes who request refunds—and don’t fall under the special cases outlined in Article...
The US Joint Economic Committee (JEC) released a brief entitled ‘Border Tax Adjustment Would Curtail Profit Shifting and Provide Other Benefits, With Limited Transition Effects’ on 11 March 2026, which outlines the economic case for moving from a production-based tax to consumption based, while not adding new taxes. Currently, there is largely a “Made in...
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...