Thursday, October 29, 2026
The Organisation for Economic Co-operation and Development (OECD) and G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) published its Compilation of 2026 Peer Review Reports on Country-by-Country Reporting (CbCR) on 19 October 2026, showing progress across the Caribbean but with clear gaps. The report is the latest annual assessment of how 142 Inclusive...
Malta’s Finance Minister Clyde Caruana presented the 2027 Budget to parliament on 26 October 2026, outlining tax measures aimed at supporting businesses and households while addressing the costs associated with tourism and infrastructure. Corporate tax measures The Budget proposed a new 25% corporate income tax rate for companies with annual turnover not exceeding EUR 1...
Finland has enacted Law 873/2026 of 9 October 2026, which amends and temporarily amends the Income Tax Act. The law takes effect on 13 October 2026, but most of its provisions apply retroactively from 1 January 2026. The amendments cover employee sports and culture benefits, commuting expense deductions and the household tax credit. President Alexander...
Kenya’s National Treasury has published the Income Tax (Leasing) Rules, 2026, through Legal Notice No. 187 on 12 August 2026, a framework that brings income generated by lessors from both operating and finance leases within the scope of income tax and withholding tax. Legal basis and scope The rules were promulgated by Cabinet Secretary for...
Malaysia has gazetted the Income Tax (Dividend Income Received in Malaysia from Outside Malaysia) (Exemption) Order 2026 on 22 October 2026, extending tax relief on foreign-sourced dividend income brought into the country. The Order takes effect on 1 January 2027 and remains in force until 31 December 2030. Qualifying persons are exempt from paying income...
Canada and the UAE have signed a trade pact that will cut tariffs on more than 99% of Canadian exports to the UAE, as Prime Minister Mark Carney looks for trading partners beyond the US. Canada and the United Arab Emirates (UAE) signed a broad trade agreement on 27 October 2026, aiming to lower barriers...
Vietnam’s government has proposed that the special consumption tax on all petrol grades be reduced to zero for the period from 1 November to 31 March 2027, it announced on 27 October 2026. Households and businesses could also benefit from lower retail electricity prices. The Deputy Prime Minister instructed the Ministry of Finance on 27...
The Cyprus Tax Department has announced an extension of the filing and payment deadlines under the Pillar Two global minimum tax rules for the first fiscal year, defined as a fiscal year commencing between 31 December 2023 and 30 December 2024. The extension applies to returns, notifications, and top-up tax payments. No penalties, interest, or...
Taiwan’s National Taxation Bureau of the Central Area, under the Ministry of Finance, announced on 27 October 2026 that businesses selling goods or services exempt from business tax must issue tax-exempt uniform invoices unless they have applied to the Ministry of Finance to waive the exemption and received approval. The rule applies to businesses exempt...
India’s tax authority, the Central Board of Indirect Taxes and Customs (CBIC), has set 1 November 2026 as the date on which new amendments to the Central Goods and Services Tax Act, 2017 (CGST Act) will take effect. The date was announced in a notification issued on 26 October 2026 under Section 1(2)(b) of the...