Saturday, June 27, 2026
Finland’s Ministry of Finance has initiated a public consultation on sweeping amendments to income taxation and the Income Tax Act, designed to strengthen purchasing power and encourage employment. The package targets a EUR 230 million reduction in levies for lower and middle-income workers and introduces flexibility for employee share schemes. Adjustments across income brackets and...
Chile’s Internal Revenue Service (SII) announced, on 23 June 2026, that it has unveiled industry-specific benchmark indicators enabling distribution companies to evaluate their transfer pricing compliance and identify potential tax risks. The initiative, previously committed to in the 2026 Tax Compliance Management Plan (PGCT), represents a significant step toward preventive tax governance aligned with OECD...
The income tax treaty between Monaco and the UAE entered into force on 12 June 2026. Signed in Dubai on 13 November 2021, the agreement is intended to eliminate double taxation between the two jurisdictions while strengthening measures to prevent tax evasion and fraud. The treaty applies to taxes on income and, in certain cases,...
The Central Bank of Russia (CBR)’s Directors decided to cut the key rate by 25 basis points to 14.25% per annum on 19 June 2026. The CBR’s key interest rate is applied in calculating interest deductions and the interest on late payment of overdue taxes. The Bank of Russia will assess the need for further...
The UK’s HM Revenue & Customs has published a policy paper providing clarification of the increase in the Electricity Generator Levy (EGL) on 17 June 2026. As previously announced, the EGL rate will rise from 45% to 55% with effect from 1 July 2026. The policy paper sets out the main provisions and context for...
The new income and capital tax treaty between Argentina and Austria, signed on 6 December 2019, went into effect on 12 June 2026, replacing the 1979 agreement that terminated on 1 January 2009. The treaty governs taxation of corporate profits, dividends, interest, royalties, and capital gains across both jurisdictions. The treaty applies to Argentine income...
Italy has gazetted the Decree of 29 May 2026 on 11 June 2026, establishing the 2026 conventional remuneration levels used for both social security contributions and income tax calculations for Italian workers employed abroad. The decree, adopted by the Ministry of Labour and Social Policies in agreement with the Ministry of Economy and Finance, applies...
The US Internal Revenue Service (IRS) has confirmed that interest rates for the second quarter dropped beginning 1 April 2026. According to the Revenue Ruling 2026-5, the IRS has set out revised interest rates that will apply for the April–June 2026 quarter, reflecting a downward adjustment across several categories. For corporations, the updated rates are...
The Liechtenstein government announced that representatives of Liechtenstein and Vietnam concluded negotiations on an income tax treaty, initialling the agreement on 12 June 2026. The DTA is based on international standards and takes into account the requirements of the OECD/G20 BEPS (Base Erosion and Profit Shifting) project aimed at preventing tax reduction and tax avoidance...
Bahrain issued Law (32) of 2026 on 14 June 2026, approving the ratification of the income tax treaty with Saudi Arabia. Signed on 3 December 2025, the provisions of the agreement apply to Bahrain corporate income tax as well as Saudi Zakat and income tax. Under the applicable regulations, a 5% rate applies to dividends,...