Saturday, August 08, 2026
The South African Revenue Service (SARS) has published a statement welcoming the unanimous Constitutional Court judgment in Lueven Metals (Pty) Ltd v Commissioner for the South African Revenue Service, delivered on 23 June 2026, which confirms SARS’ interpretation of section 11(1)(f) of the Value-Added Tax Act, 1991. SARS Commissioner Dr Johnstone Makhubu welcomed the ruling,...
The Luxembourg Administration of Direct Tax (ACD) issued a statement on 26 June 2026 concerning the Frequently Asked Questions (FAQ) published by the European Commission on 29 May 2026. The FAQ clarifies that, under the EU Pillar Two Directive, all EU Member States must treat Cyprus as having a qualified Income Inclusion Rule (IIR), even...
The Australian Taxation Office (ATO) has issued new guidance under its Private Capital Program on 26 June 2026, outlining security arrangements and evidentiary requirements for fiscally transparent entities to support compliance by large multinational enterprises and private equity groups, including in relation to treaty benefit claims. Private capital program The ATO’s Private Capital Program continues...
The UAE Federal Tax Authority (FTA) has issued a Basic Tax Information Bulletin – Corporate Tax Losses on 25 June 2026, providing guidance on the treatment of Corporate Tax Losses under the Corporate Tax Law. The bulletin explains the definition of a Tax Loss, the available relief mechanisms, and the conditions and restrictions governing the...
The Slovak Republic’s Ministry of Finance has launched a consultation on the Draft Law No. LP/2026/369 amending Act No. 507/2023 Coll., on 25 June 2026, which implemented the EU Minimum Taxation Directive. The proposed amendments aim to incorporate adjustments arising from the OECD/G20 Inclusive Framework’s Side-by-Side Package on global minimum tax rules, confirmed by the...
Austria’s Federal Council (Bundesrat) approved the Budget Measure Act 2026 on 25 June 2026, adopting a package of amendments to various tax laws aimed at promoting tax fairness, combating tax fraud, reducing the tax burden on workers and simplifying administrative procedures. Income tax changes The Act introduces a tax-free Mitarbeiterprämie 2026 (Employee Bonus) of up...
Vietnam’s Tax Department issued Official Letter 3896/CT-CS, confirming that eligible foreign-invested small and medium-sized enterprises (SMEs) can benefit from a three-year corporate income tax (CIT) exemption under the country’s new private sector incentive regime. The clarification confirms that foreign ownership does not prevent access to the incentive, provided the enterprise satisfies the statutory eligibility criteria...
The Swedish government has submitted a bill to the Council on Legislation proposing to expand the corporate income tax deduction for sponsorship and similar expenses, with the aim of making the tax treatment of such costs clearer and more favourable. The proposal would allow companies to deduct certain commercially motivated expenses incurred to improve or...
The Danish government has reintroduced a series of tax measures that were originally included in the 2026 Finance Act but lapsed when the election was called. The proposals, which fall under the Ministry of Taxation and Growth, are intended to increase disposable income, encourage labour market participation and simplify parts of the tax system. If...
The OECD has published a revised version of the common understanding on Pillar Two GloBE Information Return (GIR) filing on 25 June 2026. The first version of the common understanding on Pillar Two GIR filing was released on 18 May 2026, titled, Global Minimum Tax: Support for Central GloBE Information Return Filing and Exchange (2024...