Saturday, September 19, 2026
Lithuania’s State Tax Inspectorate (VMI) updated its guidance on the Law on Corporate Income Tax on 11 August 2026. The guidance details the official commentary and legal amendments regarding the taxation of positive income from controlled foreign corporations (CFCs) under Lithuanian law. It explains that Lithuanian entities must include the income of foreign subsidiaries in...
Chile’s tax authority (SII) announced on 13 August 2026 that around 1.07 million people who received pandemic relief loans through Chile’s solidarity loan programme face repayment demands after failing to file tax returns during the 2022–2026 benefit period. The SII has set an end-of-August deadline for these taxpayers to file outstanding tax forms, beyond which...
The UAE Federal Tax Authority (FTA) has issued Corporate Tax Public Clarification CTP012, addressing the Corporate Tax treatment of payments made by banks on Additional Tier 1 (AT1) instruments. The clarification explains whether such payments are deductible when determining a bank’s Taxable Income and provides guidance on the applicable tax treatment. Issue Banks operating in...
The Trump administration is imposing tariffs of up to 100% on imported drones and drone components, as part of efforts to reduce US reliance on foreign suppliers and potentially accelerate the decoupling of drone supply chains from China. Under the new tariff structure, a 100% tariff will apply to heavier drones weighing more than 25...
The French tax authority has published updated guidance on the temporary corporate income tax surtax for large companies, reflecting the extension and revised liability threshold introduced under the Finance Law for 2026. This official tax bulletin outlines the extraordinary corporate tax imposed on major corporations in France for the 2025 and 2026 fiscal years. Eligibility...
The Australian Taxation Office (ATO) has published updated guidance on 4 August 2026 on Global Anti-Base Erosion (GloBE) joint ventures, including instructions for completing the Combined Global and Domestic Minimum Tax Return (CGDMTR). The expanded guidance aims to help multinational enterprise groups within the scope of Pillar Two understand and comply with their reporting and...
The Italian Revenue Agency has announced that it published Legislative Decree No. 148 of 7 August 2026 (the Omnibus Tax Decree) in the Official Gazette on 11 August 2026. This follows the Italian government’s approval of a sweeping 37-article tax reform on 4 August 2026, introducing changes across individual income, corporate taxation, VAT administration, and...
Germany’s Federal Cabinet released a press release on 12 August 2026 announcing the adoption of the draft Annual Tax Act 2026 (Jahressteuergesetz 2026) on 12 August 2026, proposing a broad package of changes to German tax rules. Among its key measures is the implementation of the OECD Inclusive Framework’s Side-by-Side Package, which would amend Germany’s...
Lithuania has proposed amendments to the rules used to determine whether a taxable person reaches the EUR 45,000 VAT registration threshold through Draft Law amending Article 71 of Law No. IX-751. This draft legislation on VAT would revise the transactions excluded when calculating the threshold. The proposal specifically updates point 4 of paragraph 22 of...
Officials from Bangladesh and Singapore have called for the early conclusion of the proposed bilateral Free Trade Agreement (FTA) and stronger business-to-business engagement to expand trade, investment and economic cooperation during separate meetings in Singapore. Bangladesh State Minister for Foreign Affairs highlighted opportunities to diversify Bangladesh’s exports to Singapore beyond ready-made garments, including pharmaceuticals, ceramics,...