Saturday, August 29, 2026
Italy has published Law No. 152 of 7 August 2026 in the Official Gazette, which converts Decree-Law No. 107 of 26 June 2026 into law, incorporating the amendments set out in its annex. The legislation formally postpones the introduction of the EUR 2 administrative handling fee on low-value imports below EUR 150 to 1 October...
The Cyprus Ministry of Finance has opened a public consultation on 30 July 2026, on the Global Minimum Level of Taxation for Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union (Amendment) Law of 2026. The amending bill was prepared following observations from the European Commission on the correct transposition of Council Directive (EU)...
The US Department of the Treasury and the Internal Revenue Service (IRS) proposed regulations (REG-119882-25) on 20 August 2026 that would extend federal immigration-status restrictions to the refundable portions of four tax credits. The proposed rules would generally apply to taxable years beginning on or after 1 January 2026 under the Personal Responsibility and Work...
According to an OECD update, published on 26 August 2026, three new jurisdictions have joined the Common Reporting Standard framework by signing the addendum to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information. Armenia became a signatory on 10 July 2026, followed by Bahrain on 13 January 2026, and the British...
Belgium’s Federal Public Service Finance has published additional frequently asked questions (FAQs) on the filing requirements under the Pillar Two global minimum tax rules, expanding on guidance previously issued for the country’s Qualified Domestic Minimum Top-up Tax (QDMTT). The additional FAQs, published on 18 August 2026, are set out in sections 4 to 6 of...
The free trade agreement (FTA) between Hong Kong and Peru, signed on 15 November 2024, will enter into force on 1 September 2026, following completion of internal procedures by both jurisdictions, according to a release by the Hong Kong government on 25 August 2026. As per the agreement, Peru will remove tariffs on 98.3% of...
Romania’s Ministry of Finance published Order No. 987/2026 (issued on 3 August 2026) in the Official Gazette (Monitorul Oficial) No. 678 on 17 August 2026, establishing the detailed procedure and forms for implementing a 3% tax bonus on the 2025 annual corporate income tax and the tax on micro-enterprise income. Romania’s 3% tax bonus is...
Hungary’s National Tax and Customs Administration (NAV) announced on 25 August 2026 that the Hungarian National Bank reduced its base interest rate from 5.75% to 5.50%, effective 26 August 2026. The rate was previously cut from 6.00% to 5.75% on 22 July 2026. The base rate is used to calculate interest on late tax payments,...
Brazil’s tax authority (RFB) announced it rolled out a new round of the Digital Tax Audit (MFD) on 27 August 2026, focused on insufficient PIS/Cofins declarations. The initiative gives taxpayers a window to self-correct discrepancies in their social contribution payments before formal audits commence. Cross-referencing of data submitted by legal entities uncovered BRL 300 million...
Argentina’s tax administration (ARCA) announced on 27 August 2026 that it activated the Investment Management System (SGI), a web platform for registering investment projects, selecting tax benefits, and administering the Incentive Regime for Medium-Sized Investments (RIMI). General Resolution 5889/2026, effective 25 August 2026, established the system to centralise and digitise tax incentive management tied to...