Saturday, July 18, 2026
The US Trade Representative Jamieson Greer initiated an investigation under Section 301 of the Trade Act of 1974 against Germany on 18 June 2026. This investigation will seek to determine whether persistent underpayment for innovative pharmaceutical products by Germany is unreasonable or discriminatory and burdens or restricts US commerce. This investigation follows months of meaningful...
The Australian Taxation Office (ATO) has recently issued guidance on the XML file requirements for the GloBE Information Return (GIR), offering clarification to assist filers in completing specific GIR data elements. When preparing the GloBE Information Return (GIR) XML file, ensure that you complete each part of the schema correctly to avoid processing delays or...
Peru’s National Superintendency of Customs and Tax Administration (SUNAT) has extended the deadline for submitting the Informative Sworn Statement “Reporte Local” or Local File (Report) (Virtual Form No. 3560) for the 2025 tax year. The extension was introduced through Resolution No. 000113-2026/SUNAT, published in the Official Gazette on 14 June 2026. The measure applies to...
The Belarus–Jordan income tax treaty entered into force on 8 June 2026 and will apply from 1 January 2027 for withholding and other taxes. Signed on 16 December 2025, the treaty seeks to prevent double taxation and promote economic cooperation between the two countries. It also eliminates double taxation on income, profits, and personal income...
Italy’s Supreme Court, in Ordinance No. 16134 of 25 May 2026, held that relief from double taxation under the Italy–Germany income and capital tax treaty cannot be refused solely because the taxpayer failed to file an Italian tax return or omitted the relevant foreign income from the return submitted. Ordinance No. 16134 establishes a significant...
Chile’s tax administration (SII) has issued Ruling No. 1407-2026 on 10 June 2026 outlining the tax implications regarding fraudulent or unreliable invoices in relation to Value Added Tax (VAT) and Income Tax. It clarifies that while falsified documents generally disqualify a business from claiming tax credits, exceptions exist if specific payment verification methods are followed....
Taiwan’s National Taxation Bureau of the Central Area, Ministry of Finance ( NTBCA) stated, on 5 June 2026, that the renewed “Agreement between the Taipei Representative Office in Singapore and the Singapore Trade Office in Taipei for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Tax Evasion and...
Sweden’s parliament (Riksdag) has approved legislation on 11 June 2026, introducing a series of changes to the country’s tonnage tax regime, expanding its scope and providing greater operational flexibility for shipping companies. The amendments, contained in Bill Prop. 2025/26:243, were backed by the Swedish Tax Committee and are intended to improve the competitiveness of the...
Germany’s Federal Ministry of Finance has issued updated guidance on the determination of a Permanent Establishment (PE), setting out the administrative principles for assessing when a business presence constitutes a PE under domestic tax law and international tax treaties. The guidance, published on 18 June 2026, explains the conditions for establishing a PE under section...
Ukraine’s Parliament has approved a law to introduce the international automatic exchange of information on income earned through digital platforms and to establish rules for the taxation of such income, bringing the country closer to OECD reporting standards. Draft Law No. 15111-d was adopted by the Verkhovna Rada on 9 June 2026 and was sent...