Saturday, July 18, 2026
The Australian Taxation Office (ATO) has updated its foreign exchange rate guidance, which includes the monthly exchange rates for 1 July 2025 to 30 June 2026 and monthly rates for April and May 2026. All foreign income, deductions, and foreign tax paid must be converted to AUD before being included in the return. There are...
The Department of the Treasury and the Internal Revenue Service (IRS) announced, on 29 June 2026, that it issued Revenue Procedure 2026-25 providing a gift tax reporting safe harbour for certain contributions to Trump accounts created under the Working Families Tax Cuts. This revenue procedure provides a transfer tax safe harbour for certain individual donors...
Romania’s Ministry of Finance and the National Agency for Fiscal Administration (ANAF) announced, on 30 June 2026, that they have introduced revised transfer pricing regulations designed to bring greater clarity and consistency to how multinational companies structure intra-group transactions. The ANAF has approved and submitted to the Official Gazette for publication two orders introducing procedures...
The UK’s His Majesty Revenue and Customs (HMRC) has launched a public consultation on the VAT treatment of land sales intended for the construction of new social housing, including a proposal to introduce a new VAT zero-rate on 23 June 2026. The consultation seeks views on the proposed VAT zero-rate for land intended for the...
The UK’s His Majesty’s Revenue and Customs (HMRC) has published a policy paper and draft legislation setting out reforms to the Capital Gains Tax (CGT) relief available for gifts of business assets. The policy paper, published on 23 June 2026, affects individuals making gifts of shares or securities in a trading company or the holding...
Ireland’s Revenue has issued updated guidance on the operation of the Dividend Withholding Tax (DWT) regime. Tax and Duty Manual Part 06-08a-01 Dividend Withholding Tax – Details of Scheme, which provides guidance in respect of the operation of DWT, has been updated to set out the circumstances in which distributions may be paid, either directly...
The UK’s HMRC has launched a consultation on plans to introduce mandatory registration for customs intermediaries that submit customs declarations on behalf of traders, as part of wider efforts to improve compliance, protect revenue and strengthen confidence in the customs system. Published by HM Revenue & Customs (HMRC) on 23 June 2026, the consultation seeks...
Malaysia’s Ministry of Finance announced on 27 June 2026 that Malaysia and Switzerland have completed the second round of negotiations to amend the 1974 tax treaty, held from 22 to 25 June 2026. The negotiation is aimed at modernising their 50-year-old double taxation avoidance agreement (DTA) and aligning it with current international tax standards. The...
On 9 June 2026, the parliament adopted new rules on reconstruction in the Bankruptcy Act. The rules will replace the temporary Reconstruction Act when they enter into force. The announcement was made by the Norwegian government in a Ministry of Finance release on 25 June 2026, following approval by the Parliament (Storting) on 9 June...
The Canada Border Services Agency announced the signing of a customs mutual assistance agreement with Uruguay on 25 June 2026. Erin O’Gorman, President of Canada Border Services Agency (CBSA), together with His Excellency Pablo Sader, Uruguayan Ambassador to Belgium and Luxembourg and the Mission to the European Union signed a Customs Mutual Assistance Agreement (CMAA)...