Sunday, June 07, 2026
The Trump administration announced a new punitive tariff of 25% on numerous Brazilian imports on Monday, 1 June 2026, citing unfair trade practices spanning digital commerce, intellectual property rights, and environmental protection. US Trade Representative (USTR) Jamieson Greer confirmed the measures under Section 301 of the Trade Act, targeting sectors including electronic payments, preferential tariff...
Switzerland and Finland have moved forward with updating their longstanding tax agreement, with the Swiss State Secretariat for International Finance announcing the signing of an amending protocol to their 1991 income and capital tax treaty on 28 May 2026. This protocol implements the minimum standards for double taxation agreements. This protocol implements the minimum standards...
Luxembourg has published the Grand-Ducal Regulation of 26 May 2026 in the Official Gazette, setting out the list of jurisdictions with which it will automatically exchange information from GloBE Information Returns (GIRs) in relation to the global minimum tax framework (referred to in the text as the “impôt complémentaire”). The regulation, issued by Grand Duke...
The Organisation for Economic Cooperation and Development (OECD) released an updated list of signatories, along with their signing dates, for the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports on 29 May 2026. As of 29 May 2026, 115 jurisdictions have signed the MCAA-CbC. Under BEPS Action 13, all large multinational...
The Belarusian President signed a law for the ratification of the income tax treaty with Jordan on 25 May 2026. Signed on 16 December 2025, this treaty is aimed at preventing double taxation and facilitating economic cooperation between the nations. The agreement is also aimed at eliminating double taxation for residents of both countries on...
Italy’s Revenue Agency has issued a clarification on 26 May 2026 confirming that pleasure boats transferred from outside the EU qualify for VAT exemption when imported by relocating residents, even when held through foreign corporate structures. The clarification, issued as Response no. 105 on 25 May 2026, resolves a grey area for expatriates moving under...
The OECD has published a post on when working remotely across borders creates a taxable presence on 26 May 2026. Working from a kitchen table in another country, extending a business trip into a few extra weeks abroad, or logging in from a holiday rental. These have become everyday realities for many workers in our...
Portugal published Ordinance No. 244/2026/1 in its Official Gazette on 1 June 2026, approving the VAT declaration (return) form and accompanying instructions for the newly introduced VAT Group Regime (Regime de Grupos de IVA). The ordinance establishes the official model and guidance for the new VAT Group Regime Declaration, under which businesses with financial, economic,...
The Trump administration is pressing ahead with its tariff-first approach to trade with North American neighbours, according to US Trade Representative (USTR) Jamieson Greer. Speaking at the Council on Foreign Relations on Tuesday, 26 May 2026, Greer confirmed that levies on both Mexico and Canada will remain in place as the administration begins renegotiating the...
The US and Mexico have launched formal bilateral negotiations to restructure the six-year-old US-Mexico-Canada Agreement (USMCA), with Washington pushing for stricter regional content rules—most notably, a new US-specific minimum threshold for automotive components built south of the border. The first round concluded on 28 May 2025, with subsequent talks scheduled for 16-17 June in Washington...