Saturday, June 27, 2026
Spain has confirmed the completion of its internal procedures for the entry into effect of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) in relation to its covered tax agreement with Argentina. According to an update published by the Organisation for Economic Co-operation and Development (OECD),...
The Greek Public Revenue Authority (AADE) has updated the lists of Reportable Jurisdictions and Participating Jurisdictions used for the automatic exchange of financial account information under the Common Reporting Standard (CRS), following the publication of Decision A.1107 in the Government Gazette on 26 May 2026. The decision, issued by the Governor of the Independent Authority...
The US Internal Revenue Service announced, on 29 May 2026, the release of a new calculator to help businesses working on large, multi-year construction or manufacturing projects more easily figure interest related to those contracts. The Excel-based Percentage-of-Completion Method (PCM) Look-Back Interest Calculator XLSX supports calculations required for Form 8697, Interest Computation Under the Look-Back...
The UK has updated its list of recognised jurisdictions and taxes under the Pillar Two framework, adding four jurisdictions to its recognised Qualified Domestic Minimum Top-up Tax (QDMTT) and accredited QDMTT safe harbour lists while revising the effective date applicable to Poland. According to an update, published on 18 May 2026, the UK has expanded...
The Government of Iceland has approved a new industrial policy that sets out a long-term vision for economic growth, productivity, and competitiveness to 2035. The policy is intended to support sustainable economic development and create a more predictable environment for investment and business activity. It is accompanied by an action plan for 2026–2027 containing 35...
The Hong Kong Inland Revenue Department has announced that the Legislative Council (LegCo) will meet on 3 June 2026 to consider a number of items, including proposed legislation introducing a crypto-asset reporting framework and amendments to the Common Reporting Standard. According to a statement issued by the Inland Revenue Department on 1 June 2026, the...
Malta has published Legal Notice 162 of 2026 in the Official Gazette, introducing the Cooperation with Other Jurisdictions on Tax Matters (Amendment) Regulations, 2026, which implement Council Directive (EU) 2023/2226 of 17 October 2023 (DAC8). DAC8 establishes due diligence procedures and reporting requirements for crypto-asset service providers, requiring them to collect and report data on...
Belgium’s Ministry of Finance has published a Royal Decree implementing the Capital Gains Tax on shares and crypto assets from 2026. The decree of 18 May 2026 was officially published in Official Gazette No. 2026003829 on 27 May 2026. A central feature of this legislation is an “opt-out” mechanism, allowing taxpayers to choose whether they...
Panama has enacted Law No. 526 of 28 May 2026, significantly reforming its National Fiscal Code by introducing economic substance requirements for multinational enterprise (MNE) groups earning foreign-source passive income. The reform is designed to strengthen tax transparency, align with international standards, and support Panama’s removal from the EU list of non-cooperative jurisdictions. The measures...
The OECD has released an updated 2026 Consolidated Commentary to the Global Anti-Base Erosion (GloBE) Model Rules on 28 May 2026, incorporating administrative guidance issued by the Inclusive Framework between March 2022 and January 2026. Addressing the tax challenges arising from the digitalisation of the economy has been a key priority of the OECD/G20 Inclusive...