Saturday, September 19, 2026
The Department of the Treasury and the Internal Revenue Service (IRS) announced on 12 August 2026 that it has provided guidance to simplify and standardise the rollover process by issuing sample forms for direct rollovers to or from a retirement plan, as required under the SECURE 2.0 Act section 324. Notice 2026-49 provides sample forms...
Poland has published the Act of 17 July 2026 amending certain laws to support shipping enterprises and create favourable conditions for their operation under the Polish flag. Signed into law on 7 August 2026, it outlines a 2026 Polish legislative act designed to modernise the maritime sector and incentivise shipping companies to operate under the...
The Hong Kong Government announced on 12 August 2026 that it had signed a Customs Cooperative Arrangement with Pakistan. The Commissioner of Customs and Excise, Chan Tsz-tat, signed the Customs Co-operative Arrangement between Hong Kong Customs and Pakistan Customs in hybrid mode at the Customs Headquarters Building on 12 August 2026. The signing ceremony was...
The Australian Taxation Office (ATO) has published monthly foreign exchange rates for the period from 1 July 2026 to 30 June 2027. The ATO has clarified that all foreign income, deductions, and foreign tax paid must be translated into Australian dollars before being reported in a tax return. There are rules about which exchange rate...
New Zealand Inland Revenue issued Technical Decision Summary No. 26/11 on 14 August 2026, setting out the corporate income tax consequences of a proposed amalgamation involving several New Zealand resident companies under common ownership. The Tax Counsel Office (TCO) considered whether the proposed restructuring would trigger income, deductions or other tax consequences. The arrangement is...
Sweden’s Ministry of Finance has proposed amendments and additions to the Swedish Additional Tax Act (lagen om tilläggsskatt) to align the legislation with the latest Administrative Guidance issued by the OECD/G20 Inclusive Framework on BEPS. The proposed bill, issued on 13 August 2026, and signed by Finance Minister Elisabeth Svantesson and Johan Lindqvist, proposes new...
The US Internal Revenue Service (IRS) has announced, on 7 August 2026, tax relief for individuals and businesses in the Commonwealth of the Northern Mariana Islands affected by Super Typhoon Bavi that began on 4 July 2026. These taxpayers now have until 1 February 2027 to file various federal individual and business tax returns and...
The European Commission has published a series of ten guidance documents to help non-EU operators with the implementation of the Carbon Border Adjustment Mechanism (CBAM) during its definitive period on 14 August 2026. The CBAM’s definitive period brings monitoring, reporting and financial obligations for importers of carbon-intensive goods into the EU, set out in the...
The US is set to impose 50% tariffs on nearly USD 20 billion of Canadian goods beginning 19 August 2026, according to an announcement made under Section 338 of the Tariff Act of 1930. The duties would affect approximately 5.2% of the USD 383 billion in goods the US imported from Canada in 2025, targeting...
Bangladesh and Kosovo have agreed to work towards the early conclusion of a tax treaty, according to a joint communiqué issued on 13 August 2026. The commitment was made during the Second Foreign Office Consultations held in Prishtina between officials from the two countries. The talks covered bilateral relations and economic cooperation. The two sides...