Saturday, June 27, 2026
Denmark’s tax agency issued a binding ruling on 4 June 2026 addressing the tax treatment of a proposed share exchange by a family-owned business group. In Tax Council Binding Answer No. SKM2026.264.SR, the authority clarified when such restructuring can proceed without triggering tax consequences. Share exchanges of this kind allow companies to reorganise ownership stakes...
A US federal judge has overturned a Trump administration policy that had tightened requirements for renewable energy developers to claim federal tax incentives. US District Judge Colleen Kollar-Kotelly ruled on Saturday, 6 June 2026, that the Treasury Department’s Internal Revenue Service (IRS) failed to justify eliminating a long-established standard for what qualifies as active construction....
The OECD has announced that registration is now open for the OECD Tax and Development Days 2026, a virtual event scheduled for 17 and 18 June 2026. This event provides an update on OECD initiatives to strengthen tax capacity, enhance tax policy, and improve compliance in developing countries, while also exploring future challenges. The OECD...
The Cyprus Ministry of Finance announced that Cyprus and Kyrgyzstan signed an income tax treaty on 8 June 2026. The agreement is expected to strengthen economic, trade and investment relations between the two countries by enhancing the tax framework, reducing administrative and tax burdens, and preventing tax evasion and avoidance. It also includes provisions on...
Rwanda’s government has published Ministerial Order No. 004/26/10/TC of 29 April 2026 in the Official Gazette No. Special of 29/04/2026, which introduces several key changes and measures regarding Value Added Tax (VAT) on online services, industrial tax exemptions, and invoice adjustments. The Ministerial Order implements Article 3 of the VAT Act 2023, bringing electronic and...
The Bangladesh government is preparing sweeping tax cuts across multiple sectors in its upcoming 2026-27 budget, designed to make Bangladesh a more attractive investment destination. The push includes reduced advance income tax (AIT) rates, slashed withholding taxes, and comprehensive exemptions for emerging entrepreneurs—measures officials describe as unprecedented in scale. Sweeping tax reductions across import and...
The US Internal Revenue Service (IRS) issued the 2025 Data Book on 5 June 2026, detailing the agency’s activities during fiscal year 2025. The report provides a statistical overview of the agency’s operations and the work employees performed to meet statutory responsibilities. “Fiscal Year 2025 was a pivotal year, as we began the process of...
The OECD released the common understanding of implementing jurisdictions on the centralised filing and exchange of the GloBE Information Return (GIR) on 18 May 2026. 33 of the 37 implementing countries, which impose a reporting obligation from the 2024 financial year and for which multinational enterprise groups (MNE groups) must submit their GloBE Information Report...
Bangladesh’s government plans to roll out sweeping deregulation reforms aimed at reducing business friction, streamlining licensing requirements, and overhauling tax administration. Finance Minister Amir Khosru Mahmud Choudhury will dedicate a full chapter of the fiscal 2026-27 budget speech to “Ease of Doing Business through Deregulation,” with measures designed to lower operational barriers for both domestic...
Croatia’s Ministry of Finance issued the Regulations (Ordinance) of 15 May 2026 on Minimum Global Corporate Profit Tax (published in Narodne novine No. 53/2026), providing the detailed legal framework for implementing the Global Minimum Corporate Tax Act. These regulations establish the procedures for registering responsible entities, calculating and collecting top-up taxes, and ensuring that Croatian...