Saturday, August 08, 2026
Colombia has published Decree No. 0898 of 29 July 2026, establishing the deemed minimum annual interest rate for loans between companies and their partners or shareholders for the 2026 tax year, while also updating the inflationary components used in several tax calculations for the 2025 tax year. Issued by the Ministry of Finance and Public...
France’s tax administration has published updated administrative guidance confirming the reference interest rates used to determine the tax deductibility of interest paid on advances granted by partners or shareholders beyond their capital contributions for accounting periods ending between 30 June and 29 September 2026. The guidance, published on 5 August 2026 under legal identifier BOI-BIC-CHG-50-50-30,...
Italy has lowered the excise tax on diesel fuel to EUR 532.90 per thousand litres for 17 days, effective 7 August 2026, under Law decree No. 139/2026, which was published in the Official Journal No. 180 of 5 August 2026. The cut applies to gas oils and diesel used as road transport fuel, plus synthetic...
India’s Lok Sabha passed the Taxation and Other Laws (Amendment) Bill (Bill No. 150 of 2026) 2026 on 6 August 2026, after it was introduced in Parliament on 4 August. The Bill proposes a series of amendments to the Income-tax Act, 2025, the Payment and Settlement Systems Act, 2007, and the Finance Act, 2026 to...
Panama’s Ministry of Economy and Finance (MEF) disclosed on 5 August 2026 that criminal fraud schemes operated within its General Directorate of Revenue (DGI) for years, systematically circumventing institutional controls. Minister Felipe Chapman confirmed that criminal prosecution will proceed against those responsible and that the government maintains zero tolerance, with no room for negotiation or...
The Italian Revenue Agency has announced the release of Circular No. 6/E of 6 August 2026, providing the first comprehensive guidance on collaborative compliance after sweeping reforms introduced by Legislative Decree No. 221 of 30 December 2023. The overhaul transforms a tool once reserved for multinational giants into a centrepiece of Italy’s tax administration strategy....
The Kenya Revenue Authority (KRA) has issued a notice announcing the activation of the Tax Amnesty Functionality in iTax, offering relief from penalties, interest and fines on eligible tax liabilities for periods up to 31 December 2025, provided the principal tax is settled by 31 December 2026. Following the enactment of the Finance Act 2026,...
Finland’s Ministry of Finance announced the draft budget for 2027 on 6 August 2026, which includes several significant corporate tax measures. The government will review the draft budget during its budget session on 1–2 September, after which the Ministry of Finance will finalise the proposal. The finalised budget will be considered by the Extraordinary Committee...
The Australian Taxation Office (ATO) reminded large corporate taxpayers on 5 August 2026 to review their corporate tax transparency data before the publication of the 2024–25 Corporate Tax Transparency Report. For the 2024–25 income year and onwards, the corporate tax transparency population includes any corporate tax entity that has total income equal to or exceeding...
Korea (Rep.)’s Ministry of Economy and Finance (MoEF) has unveiled its 2026 Tax Reform Plan, proposing a broad package of tax measures aimed at strengthening domestic manufacturing, supporting innovation, expanding tax relief for households and small businesses, and updating international tax rules in line with the latest OECD Pillar Two guidance. Released on 3 August...