Saturday, June 27, 2026
Taiwan’s Taxation Bureau of the Northern Area, Ministry of Finance (NTBNA, MOF), stated that, as stipulated in Article 39 of the Income Tax Act, when profit-seeking enterprises deduct the verified losses of each of the former ten years from the current year’s net profit, the investment income of each such year that is not included...
The Department of the Treasury and the Internal Revenue Service announced on 29 May 2026 that it has issued additional guidance addressing the applicability dates of recent proposed regulations under Section 892 of the Internal Revenue Code, which exempts foreign governments, including sovereign wealth funds, from tax on certain income derived from passive U.S. investments....
Poland’s government announced on 29 May 2026 that it has prolonged its fuel pricing relief programme through 15 June 2026, continuing temporary cuts to VAT and excise duties on petrol, diesel, and biofuel components. The extension builds on measures first introduced in March 2026 in response to regional supply instability triggered by Middle East tensions....
The South African Revenue Service (SARS) has issued an updated guide to the Voluntary Disclosure Programme (VDP), replacing the previous version published in August 2023 and incorporating recent legislative amendments and court rulings. The revised guide, dated 21 May 2026, reflects changes introduced by the Tax Administration Laws Amendment Act 4 of 2026, which established...
The OECD has issued a tax policy brief on Corporate Income Taxation and Business Dynamism on 27 May 2026. In recent decades, concerns have grown over the decline in business dynamism, the process by which firms enter, expand, contract, and exit markets. Part of the OECD Tax Policy Briefs series, this brief explores how corporate...
Fiji signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) on 22 April 2026. Under BEPS Action 13, all large multinational enterprises (MNEs) are required to prepare a country-by-country (CbC) report with aggregate data on the global allocation of income, profit, taxes paid and economic activity among tax jurisdictions in...
Turkey’s Revenue Administration has issued General Communiqué No. 25, providing detailed implementation guidance on recent amendments to the Corporate Tax Law introduced by Law No. 7524 and Law No. 7566. The Communiqué, published in the Official Gazette on 24 May 2026, clarifies the application of the domestic minimum corporate income tax, exemption rules for investment...
The UK HM Revenue & Customs (HMRC) has revised its guidance outlining the statutory requirements for the Disclosure of Tax Avoidance Schemes (DOTAS) regime on 29 May 2026. The Disclosure of Tax Avoidance Schemes (DOTAS) regime is designed to provide HM Revenue and Customs (HMRC) with early information regarding tax arrangements, how they function, and...
The Hong Kong Inland Revenue Department has announced the Stamp Duty (Amendment) (No. 2) Bill 2026 on 29 May 2026, which was published in the Official Gazette the same day. The Stamp Duty (Amendment) (No. 2) Bill 2026 provides for the calculation and payment of stamp duty arising from transactions of dual-counter stocks conducted at...
The Swedish government has proposed introducing a statutory definition of “permanent residence” in the Income Tax Act, a key concept used to determine whether an individual is subject to unlimited tax liability in Sweden. An individual who is considered to be permanently staying in Sweden is generally regarded as having unlimited tax liability there. This...