Tuesday, April 07, 2026
Lithuania’s State Tax Inspectorate (VMI) has provided updated guidance for Article 56-1(1) and (9) of the Corporate Income Tax Law, applicable for calculating taxable profit for periods beginning in 2026. These provisions regulate the transfer of tax losses between companies within the same group. Transfer conditions – Article 56-1(1) A company may transfer its tax...
The OECD published an updated list of signatories, including their signing dates, to the Multilateral Competent Authority Agreement on the Exchange of Global Anti-Base Erosion (GloBE) Information Returns (GIR MCAA) on 31 March 2026. The agreement facilitates the automatic exchange of GloBE Information Returns between tax authorities and reduces compliance costs for multinational enterprise groups...
Turkey’s Revenue Administration has released guidance for the 2026 corporate income tax (CIT), setting out standard and sector-specific rates, available incentives, and rules for the domestic minimum corporate tax. The guidance, published on 31 March 2026, is designed to help companies understand their tax obligations, claim eligible reductions, and calculate minimum tax liabilities. Corporate income...
The Grand National Assembly of Turkey (TBMM) has removed all crypto asset taxation provisions from the draft omnibus law submitted on 2 March 2026. The amendment cancels the planned 0.03% transaction tax and the 10% withholding tax on crypto gains. Crypto-asset service providers remain subject to the 30% corporate income tax, and licensed platforms must...
Turkey’s Revenue Administration has issued detailed guidance on 31 March 2026 on the filing of corporate income tax (CIT) returns for the 2025 fiscal year. This guide provides comprehensive instructions for taxpayers on exemptions, income determination, deductions and the new domestic minimum corporate tax. Corporate tax applies to a range of entities, including capital companies...
Malta’s Tax and Customs Administration announced on 27 March 2026 that taxpayers opting for a final income tax without imputation must make the election through their income tax return. The authority confirmed that once exercised, the election is binding for five consecutive Years of assessment, limiting the ability to switch treatment during that period. The...
Singapore’s Inland Revenue Authority of Singapore (IRAS) has introduced FormSG for Waiver of Shareholding Test Applications, alongside updated guidance on the treatment of Unutilised Items, including capital allowances, trade losses, and donations. Unutilised items arise in a Year of Assessment (YA) where a company has insufficient income to fully utilise deductions. Companies may manage these...
Sri Lankan Inland Revenue Department has issued SEC/PN/VAT/2026-02 on 31 March 2026, notifying taxpayers of a further delay in the implementation of Value Added Tax (VAT) on services supplied through electronic platforms by non-resident service providers. The VAT implementation has now been postponed until 1 July 2026, pending a formal amendment to the VAT Act,...
France’s tax administration has issued guidance on the application of lower electricity excise duty following the enactment of 2026 Finance Act. Published on 1 April 2026, the guidance explains how Article 71 of Law No. 2026-103 should be applied by electricity suppliers and consumer taxpayers. The guidance clarifies the reduced rates in Article L. 312-65...
Ireland’s Revenue Commissioners published eBrief No. 067/26 on 30 March 2026, updating guidance on the application and operation of DAC6. DAC6 mandates reporting of cross-border tax arrangements showing specific “hallmarks” of potential tax avoidance, like confidentiality clauses or aggressive planning. Intermediaries or taxpayers disclose details to tax authorities for automatic exchange across EU states, enhancing...