Saturday, July 18, 2026
The US House Ways and Means Committee held a hearing on 9 June 2026 to explore new tax rules for digital assets, advancing eight bills and discussion drafts that aim to simplify compliance and establish clearer rules for activities like cryptocurrency mining and staking. The proposals address longstanding gaps in how the tax code treats...
Canada is preparing to pursue bilateral trade agreements with the US alongside the review of the Canada-United States-Mexico Agreement (CUSMA), Trade Minister Dominic LeBlanc said on Thursday, 11 June 2026. Speaking at a conference in Toronto, LeBlanc said Canada, the US and Mexico could negotiate arrangements outside the trilateral framework if such agreements help address...
The UK’s His Majesty’s Revenue and Customs (HMRC) has published guidance outlining how agents can access and amend a client’s domestic top-up taxes and multinational top-up taxes (Pillar Two top-up taxes) information through its online service. The guidance, issued on 10 June 2026, explains the steps agents must complete before they can manage Pillar Two...
Kazakhstan has introduced a pre-filled Value Added Tax (VAT) declaration service for Form 300.00, enabling VAT returns to be automatically populated using data held in government information systems. According to the state revenue authorities, the pre-filling of the VAT declaration (Form 300.00) is based on information available in the authorities’ systems, including electronic invoices, taxpayers’...
The Kenya Revenue Authority (KRA) has notified all taxpayers, on 8 June 2026, that filing of income tax returns for the year of income 2025 is ongoing and must be completed by 30 June 2026. To facilitate smooth filing for the 2025 Year of Income, KRA has allowed taxpayers to declare valid business expenses that...
In the landmark decision of Commissioner of Taxation v Bendel HCA 18, the High Court of Australia dismissed the Commissioner’s appeal by a 5–2 majority, providing critical judicial clarification on the intersection of trust law and anti-avoidance tax rules. The Court held that unpaid present entitlements (UPEs) belonging to a corporate beneficiary are not treated...
The European Commission released a country-by-country compliance guide for multinationals navigating the EU’s new global minimum tax framework on 10 June 2026. The “Manual for MNE Groups on Global Minimum Tax (Pillar Two) Compliance Obligations” covers Austria, Belgium, Croatia, Cyprus, Czech Republic, Finland, France, Germany, Greece, Ireland, Poland, Romania, Slovenia and Sweden, and stems from...
Pakistan’s government presented its Federal Budget for FY2026-27 on 12 June 2026, targeting PKR 20.6 trillion in revenue through higher tax collections, tax administration reforms and broader economic documentation as it seeks to maintain macroeconomic stability and remain on track with its IMF-supported programme. The budget projects PKR 15.26 trillion in Federal Board of Revenue...
Kyrgyzstan’s President has signed legislation ratifying the 2025 income tax treaty with Japan, according to an announcement published on the presidential website on 10 June 2026. Once effective, the agreement will replace the 1986 Income Tax Treaty between the former USSR and Japan, which has remained the basis for tax relations between Japan and Kyrgyzstan...
Morocco’s House of Representatives (lower house) approved Bill No. 53.24 to ratify the income tax treaty with Chad on 8 June 2026. The agreement, signed on 14 August 2024, aims to establish a cooperative fiscal framework to prevent double taxation and tax evasion, encouraging foreign investment and trade between the two nations. The agreement will...