Friday, October 09, 2026
The UK government has published draft legislation proposing to make the foreign permanent establishment (PE) exemption compulsory for UK-resident companies from 1 January 2027. The draft legislation, published on 13 July 2026, would amend Part 2 of the Corporation Tax Act 2009 (CTA 2009), including Chapter 3A, which covers profits of foreign permanent establishments. The...
Iceland’s Ministry of Finance presented the 2027 Budget proposal on 7 September 2026, proposing higher taxes and fees, reduced tax incentives, and adjustments to existing charges to raise government revenue. The proposed tax and revenue measures represent a deliberate strategy to shift Iceland’s public finances from a deficit of ISK 28.1 billion in 2026 to...
Canada has enacted retaliatory tariffs today, 8 September 2026, just after midnight, covering nearly USD 28 billion in US goods. Prime Minister Mark Carney authorised the measures after negotiations between Ottawa and Washington stalled in the preceding month. The counter-tariffs impose duties ranging from 15% to 50% across products including steel, furniture, clothing, and electronics—a...
Brazil’s Federal Revenue Service (RFB) launched a public consultation period on 4 September 2026 to gather feedback on a new Normative Instruction that will merge four separate regulations governing special customs regimes for the storage and warehousing of goods. The initiative runs from 4 September 2026 through 23 September 2026 through the Brasil Participativo platform....
Iceland’s Ministry of Finance and Economic Affairs (MoF) has initiated a public consultation on several proposed legislative amendments in its draft document on 4 September 2026, with a targeted entry into force on 1 January 2027. These planned amendments aim to simplify administrative processes, increase operational efficiency, and close existing loopholes to ensure better tax...
The OECD has published comments received during its June 2026 public consultation on proposed revisions to the Model Reporting Rules for Digital Platforms. The consultation focused primarily on intermediary seller arrangements, including whether sellers that also operate reporting platforms should be subject to reporting obligations and how such intermediaries should be defined. The submissions comprise...
Brazil’s tax authority, the Federal Revenue Service (RFB) and the Attorney General’s Office for the National Treasury (PGFN) have released the Joint Transaction Notice PGFN/RFB No. 4/2026 on 4 September 2026, establishing a settlement framework for tax liabilities tied to withholding income tax (IRRF) disputes on capital gains earned by non-resident investors in Brazil. The...
The Agreement between Japan and Paraguay for the Investment Protection Agreement (IPA), signed on 5 December 2025, will enter into force on 26 September 2026, following completion of Paraguay’s required internal procedures. The Government of Japan received notification from the Government of the Republic of Paraguay on 28 August 2026 (August 27 local time), confirming...
The OECD is scheduled to publish its Tax Policy Reforms 2026 report on 8 September 2026, 11:00 CEST (09:00 GMT), providing an overview of tax reforms introduced or announced in 2025 across 92 jurisdictions worldwide. It will examine the approaches taken by countries to sustainably finance public services, social protection, investment and other spending needs...
Lithuania’s State Tax Inspectorate (VMI) is preparing changes to the rules for completing forms DAS-1, DAS-2 and DAS-3, which are used by foreign residents and Lithuanian payers to apply for treaty-based tax relief, claim refunds of withheld tax and obtain confirmation of income and taxes paid in Lithuania. The draft order, issued by the Head...