Saturday, July 18, 2026
In an announcement on 15 June 2026, Cyprus has confirmed its compliance with the EU’s global minimum taxation rules under Law 151(I)/2024, following European Commission guidance issued on 29 May 2026 The Cyprus Tax Department has verified that Cyprus meets the technical requirements of the Pillar Two Directive with a Qualified Income Inclusion Rule (IIR)...
Belgium’s Ministry of Finance has published a royal decree in the Official Gazette No. 129 of 15 June 2026 on the income inclusion rule (IIR) return form for the assessment year 2024. The decree details taxation forms for multinational corporations under the global minimum tax framework and various administrative appointments within the government. These records...
According to an update issued by New Zealand’s Ministry of Foreign Affairs and Trade, representatives of Fiji and New Zealand are scheduled to conduct a third round of negotiations on a new income tax treaty in August 2026. If an agreement is reached it will replace the1976 agreement to better address modern issues regarding income...
The South African Revenue Services (SARS) released updated Average Exchange Rates on 8 June 2026, providing essential data for calculations. The update includes rates for the Australian dollar, Canadian dollar, Euro, Hong Kong dollar, Indian rupee, Japanese yen, Swiss franc, UK pound, and US dollar. The term “average exchange rate” is defined in section 1(1)...
Qatar’s General Tax Authority (GTA) has announced, on 16 June 2026, the launch of the nationally recognised Certified Tax Specialist Programme, aimed at developing national competencies and strengthening the capabilities of tax professionals, thereby supporting the advancement and transformation of Qatar’s tax sector. The programme is designed to enhance technical expertise in key areas, including...
The Swedish Government proposed, on 11 June 2026, additional tax relief for companies with employees engaged in research and development (R&D) activities to boost business investment in R&D, strengthen Sweden’s competitiveness and support economic growth. Swedish companies make substantial investments in research and development and rank highly compared with companies in other countries. To create...
The UK’s HMRC outlined changes to Section 137 of the Taxation of Chargeable Gains Act 1992 (TCGA) that took effect on 26 November 2025, published in the Capital Gains Manual on the Anti-avoidance rule for share exchanges and company reconstructions from November 2025. The UK anti-avoidance rules for share exchanges and company reconstructions took effect...
The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 8/2026 on 2 Jun 2026, clarifying the application of Section 10L of the Income Tax Act 1947 in determining whether a company qualifies as an excluded incentive entity or an excluded entity that meets the prescribed economic substance requirements. The ruling determines whether...
Taiwan’s Ministry of Finance (MoF) has released a notice on 1 June 2026, reminding taxpayers of the requirements governing reasonable interest on inter-company lending arrangements. To protect the rights and interests of company shareholders and creditors, the Company Act stipulates that companies may lend to shareholders or any other person only under the circumstances that...
Following a second round of negotiations held in Tirana from 2 to 4 June 2026, Albania and Vietnam initialled a tax treaty on 4 June 2026. The two countries signed a memorandum of understanding on the draft treaty. The Vietnamese delegation was led by Deputy Director General Dang Ngoc Minh, while the Albanian delegation was...