Tuesday, February 24, 2026
China has lowered the proposed tariffs on certain European Union dairy imports as it wraps up an anti-subsidy investigation, which many view as a response to EU duties on Chinese electric vehicles. Under the final rates shared with EU authorities, China plans to impose additional tariffs of up to 11.7%, a notable decrease from the...
The Australian Taxation Office (ATO) has released the reportable tax position (RTP) schedule and accompanying instructions for the 2026 income year on 29 January 2026. Companies are generally required to lodge an RTP schedule if their total business income for the year is AUD 250 million or more, or AUD 25 million or more where...
US President Donald Trump announced in a Truth Social post on 2 February 2026 that a major trade deal had been reached with India. Under the agreement, the US will sharply reduce tariffs on Indian goods. The overall duty on Indian imports, which had climbed to 50% because of punitive measures linked to India’s oil...
The US and El Salvador signed an agreement to promote US investment in El Salvador’s critical minerals sector on 29 January 2026. Signed in Washington, the deal allows US companies to participate across the full critical minerals supply chain and requires El Salvador to provide infrastructure support, including energy and telecommunications, on terms comparable to...
The Canada Revenue Agency (CRA) will require mutual fund dealers to collect goods and services tax/harmonised sales tax (GST/HST) on trailing commissions, as they are now considered taxable supplies, starting 1 July 2026. The CRA’s position on mutual fund trailing commissions could affect the timing of major capital property purchases, and requires Dealers and fund...
China’s Ministry of Finance (MoF) and the State Taxation Administration (STA) have issued Announcement No. 12 of 2026 on 30 January 2026, providing detailed clarification on how taxable sales amounts should be calculated for value-added tax (VAT) purposes. The announcement supports the implementation of the Value-Added Tax Law of China while maintaining existing tax systems...
Malaysia’s Ministry of Investment, Trade and Industry (MITI) announced on 29 January 2026 that the government will implement the new incentive framework (NIF), effective 1 March 2026, commencing with the manufacturing sector, followed by the services sector in the second quarter of 2026. The New Incentive Framework (NIF) aligns with the announcement made under Budget 2026....
Austria has published two multilateral agreements in its Official Gazette to strengthen international tax reporting on 29 January 2026. Law No. 17/2026 introduces the Global Anti-Base Erosion (GloBE) Information Returns Agreement (GIR MCAA), signed by Austria on 26 June 2025. The agreement allows participating countries to automatically share GloBE data, supporting global minimum tax compliance....
The Swedish Ministry of Finance submitted Bill 2025/26:102 to Parliament on 27 January 2026, aiming to implement Council Directive (EU) 2025/872 (DAC9) and the OECD’s Global Anti-Base Erosion (GloBE) framework. The proposal outlines how Sweden will adopt international rules for the automatic exchange of top-up tax reports and enhance domestic procedures for large multinational groups....
The Indirect Taxation Administration (ITA) of Bosnia and Herzegovina has raised the minimum excise duty on cigarettes and smoking tobacco, effective 1 January 2026. Cigarette prices in Bosnia and Herzegovina rose at the start of 2026 following an increase in the minimum excise duty, the ITA’s Board of Directors confirmed. The minimum excise duty for...