Sunday, June 07, 2026
The Department of the Treasury and the Internal Revenue Service on 30 April 2026 issued temporary regulations and the accompanying notice of proposed rulemaking on a new method for recovering federal excise tax paid on dyed fuel established under the One, Big, Beautiful Bill. These temporary regulations provide the procedures by which a taxpayer may...
Taiwan’s National Taxation Bureau of the Northern Area, MOF, stated, on 30 April 2026, that it has strengthened audits of Controlled Foreign Corporation (CFC) cases for the year 2023 on profit-seeking enterprise income tax filings within its jurisdiction. The audits aim to verify whether the reported CFC met the requirement for substantive activities or the...
US President Donald Trump announced on Friday, 1 May 2026, that he will increase tariffs on European Union automobiles and trucks to 25% next week, up from the previously agreed 15%, citing the bloc’s failure to comply with their bilateral trade agreement. “Based on the fact that the European Union is not complying with our...
Kuwait’s Ministry of Finance has issued Circular No. (1) of 29 April 2026 introducing an optional Advance Tax Payment Program for multinational enterprise (MNE) groups that fall within the scope of the Multinational Entities Tax Law, Law (Decree) No. (157) of 2024. The mechanism applies to the supplementary domestic minimum top-up tax (DMTT) at a...
Finland’s Ministry of Finance has initiated a public consultation on significant corporate tax reforms designed to strengthen business competitiveness and stimulate investment. The proposed changes are scheduled to take effect on 1 January 2027. Key tax reforms The consultation focuses on three key proposed amendments: a reduction of the corporate income tax rate from 20%...
China’s State Taxation Administration (STA) has published comprehensive guidance to help Chinese companies navigate global minimum tax (GMT) rules in Denmark, Ireland, and the United Arab Emirates (UAE) despite not adopting these rules domestically. Supporting outbound investment compliance The Guidance on Country-by-Country Implementation of the Global Minimum Tax Rules was unveiled at a conference in...
Belgium’s Federal Public Service (SPF) Finance has launched its Biztax electronic filing platform on 30 April 2026, enabling companies to submit corporate income tax returns for the 2025 income period. Companies with fiscal years ending between 31 December 2025 and 28 February 2026 must file their returns by 30 September 2026. This deadline applies to...
Brazil’s tax authority, the Federal Revenue Service (RFB) has determined that US Limited Liability Companies owned by Brazilian tax residents qualify as privileged tax regimes, triggering automatic annual taxation requirements. The decision came through Ruling No. 56, issued on 9 April 2026 and published in the Official Gazette on 15 April 2026. Automatic year-end taxation...
Malaysia’s Royal Malaysian Customs Department (RMCD) has issued Public Ruling No. 1/2026 (PR 1/2026) addressing the foreign currency exchange rate applicable for sales tax and service tax compliance. Effective 31 March 2026, it mandates that businesses must use specific exchange rates when issuing invoices for taxable services or sales conducted in non-local denominations. Authorised sources...
Poland’s Ministry of Finance has opened a public consultation on proposed changes to its national e-invoicing platform, KSeF 2.0, focusing on how invoice-related business events and data changes should be handled and synchronised. The consultation, launched on 23 April 2026, invites market participants to provide feedback on a new approach to tracking invoice changes before...