Saturday, August 08, 2026
The US Internal Revenue Service (IRS) published a reviewed version of its Country-by-Country (CbC) Reporting Jurisdiction Status Table on 1 July 2026. The previous update, released on 1 July 2025, reflected the addition of the competent authority arrangement with the Dominican Republic, which became operative on 5 May 2025. The latest review introduces no changes,...
Chile’s Internal Revenue Service (SII) has issued two key updates—Resolution No. 88 of 26 June 2026 and Circular No. 27 of 23 June 2026—to establish the late tax payment interest rates for the second half of 2026 and outline updated forgiveness policies aimed at encouraging timely tax compliance. New late payment interest rates (Resolution No....
Cyprus has ratified the income tax treaty with Kyrgyzstan, with the ratification published in the Official Gazette on 26 June 2026. Signed on 8 June 2026, the agreement is expected to strengthen economic, trade, and investment ties between the two countries by improving the tax framework, reducing administrative and tax burdens, and helping to prevent...
Uzbekistan has issued Presidential Decree No. UP-100 of 26 May 2026, which outlines a comprehensive reform package designed to modernise and simplify the tax environment for small businesses in Uzbekistan. Scheduled for implementation between 2026 and 2030, the legislation introduces a simplified value-added tax option set at a fixed 6% rate for eligible service and...
Turkey’s Tax Administration has extended the deadline for filing and paying the Global Minimum Top-up Corporate Tax for the 2024 fiscal year. The extension was announced in Circular No. 203/2026-9 on the Tax Procedure Law on 26 June 2026. Using its authority under repeated Article 28 of the Tax Procedure Law No. 213, the Tax...
The UK’s His Majesty’s Revenue and Customs (HMRC) has published a guidance, on 30 June 2026, on the process for submitting returns for Pillar Two top-up taxes in the UK, Pillar Two top-up taxes submission of returns (Notice 3). This notice contains tertiary legislation that applies for the purposes of Multinational Top-up Tax and Domestic...
The Italian Ministry of Economy and Finance and the Revenue Agency have published coordinated guidance on Global Minimum Tax reporting, including centralised filing procedures for the GloBE Information Return and comprehensive FAQs addressing Pillar Two compliance obligations. Centralised GIR filing framework The Ministry of Economy and Finance has issued guidance on 22 June 2026 pertaining...
The Trump administration has declined to renew the US-Mexico-Canada Agreement (USMCA), putting the trade deal on a 10-year countdown toward possible termination. The announcement came following the agreement’s mandatory six-year review and signals Washington’s intent to renegotiate key terms before the pact expires. The decision means the trilateral trade pact will not receive an automatic...
The OECD has issued a working paper, Revisiting local tax attribution under central control on 29 June 2026. This paper asks how local tax revenues should be attributed when tax rates, tax bases or tax-sharing arrangements are shaped by higher-level governments. To address this question, it combines tax attribution criteria from the System of National...
The OECD has released the Tax Transparency in Africa 2026: Africa Initiative Progress Report on 30 June 2026. Continued progress on transparency and exchange of information for tax purposes boost African countries’ domestic resource mobilisation African countries identified EUR 417 million in additional tax revenue in 2025 through exchange of information (EOI) and related voluntary...