Tuesday, April 07, 2026
The Philippine Senate is considering Senate Bill No. 1935, which was first read on 9 March 2026, proposing an automatic suspension of fuel taxes when global oil prices surge beyond a specific threshold. The bill establishes a clear trigger for tax relief: when Dubai crude oil prices reach or exceed USD 80 per barrel based...
The Swiss Council of States approved ratification of the protocol to the 1978 income and capital tax treaty with Belgium on 9 March 2026. Signed on 16 July 2025, the protocol introduces minimum standards for the treaty, including an anti-abuse clause to prevent tax avoidance arrangements or transactions, and updates provisions to align with the...
The US Department of the Treasury issued a Federal Register notice on 11 March 2026 identifying countries that may mandate participation in international boycotts. The designated nations are Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, and Yemen. Businesses and individuals with connections to these listed countries must submit Form 5713 (International Boycott Report), subject...
The Trump administration announced two new trade investigations on 11 March 2026, targeting unfair trade practices and forced labour as it seeks to rebuild tariff pressure following the US Supreme Court’s dismantling of Trump’s tariff program in February 2026. US Trade Representative Jamieson Greer initiated a Section 301 investigation into excess industrial capacity across 16...
The Spanish Council of Ministers has approved the signing of a new income tax treaty with Montenegro on 10 March 2026. The treaty seeks to eliminate double taxation and prevent tax evasion. The updated treaty aligns with current international standards, incorporating OECD/G20 Base Erosion and Profit Shifting (BEPS) recommendations. Earlier, Montenegro’s government approved the signing...
Argentina’s government has published Law No. 27,802/2026 in the Official Bulletin on 6 March 2026, which entered into force on the same day, introducing amendments to the existing income tax, VAT, excise duties, and other taxes. Income tax The key changes introduced to the Income Tax Law are as follows: Loss updates: Tax losses generated...
Taiwan’s Northern District National Taxation Bureau has issued a reminder to businesses regarding the Controlled Foreign Company (CFC) rules, which came into effect in 2023. The rules were introduced to prevent multinational enterprises from establishing controlled foreign companies (CFC) in low-tax burden countries or jurisdictions to keep surplus earnings undistributed to avoid the tax burden...
The European Commission announced on 11 March 2026 that it will refer Spain to the Court of Justice of the European Union for failing to transpose two separate Directives related to VAT measures into national law. Council Directive (EU) 2020/285 introduced substantial changes to the VAT rules applicable to small businesses (SMEs) and aims to create...
Portugal’s Supreme Administrative Court has ruled that foreign-source income is generally liable for municipal surcharge unless it can be attributed to a foreign permanent establishment. The judgment, issued on 25 February 2026, followed a case brought by a Portugal-resident company challenging the surcharge on interest income from debt securities issued by foreign entities. The company...
Poland’s Ministry of Finance announced, on 11 March 2026, that the Act on the Exchange of Tax Information with Other Countries and Certain Other Acts has been signed into law. The legislation implements Council Directive (EU) 2023/2226 (DAC8) and Council Directive (EU) 2025/872 (DAC9), strengthening the framework for international tax information exchange. It enters into...