Sunday, May 17, 2026
Bangladesh’s National Board of Revenue (NBR) will allow taxpayers to submit Personal Income Tax (PIT) returns throughout the year, NBR Chairman Md Abdur Rahman Khan announced. The move is aimed at making the filing process more flexible and convenient. Chairman Khan said returns filed in the first quarter (July–September) may receive incentives. Normal tax rates...
The Italian Revenue Agency has issued guidance on 3 April 2026, clarifying how small and medium-sized enterprises must handle R&D tax credit repayments when switching to the new patent box incentive scheme. In Response Number 102/2026, the Agency addressed questions from a digital sector company that previously claimed research and development tax credits under Article...
Belgium’s Federal Public Service (SPF) Finance has announced, on 3 April 2026, the extension of the filing deadlines for Pillar Two minimum tax declarations. The extensions apply to both the Qualified Domestic Minimum Top-up Tax (QDMTT) and supplementary tax under the Qualified Income Inclusion Rule (IIR). QDMTT declaration extension Under the original law from 19...
The Cyprus Ministry of Finance has announced on 31 March 2026 a temporary tax relief measure that will eliminate VAT on fresh meat and fish products for six months, effective 6 April 2026 through 30 September 2026. The tax exemption applies to unprocessed meat and fish products. For meat, this includes fresh, chilled, or frozen...
Poland’s Ministry of Finance announced on 3 April 2026 that it is implementing comprehensive reforms across budget classification, state budget management, and public investment oversight, with new legislation taking effect on 14 April 2026. The amendments to the Public Finances Act, passed on 27 February 2026, are designed to enhance public spending effectiveness while maintaining...
The Trump administration unveiled its fiscal year 2027 budget proposal on 3 April 2026, featuring significant reductions to the Internal Revenue Service (IRS) alongside increased defence spending and border security priorities. The budget, set to begin on 1 October 2026, targets a USD 73 billion cut in nondefense spending—approximately 10% below FY2026 levels. The budget...
The UK’s Financial Reporting Council (FRC) announced it has published guidance for audit firms on using generative and agentic AI tools in audit engagements on 30 March 2026. The guidance sets out how firms can mitigate risks to audit quality posed by these tools, while supporting firms to realise the significant benefits these technologies offer...
Lithuania’s State Tax Inspectorate (VMI) has provided updated guidance for Article 56-1(1) and (9) of the Corporate Income Tax Law, applicable for calculating taxable profit for periods beginning in 2026. These provisions regulate the transfer of tax losses between companies within the same group. Transfer conditions – Article 56-1(1) A company may transfer its tax...
The OECD published an updated list of signatories, including their signing dates, to the Multilateral Competent Authority Agreement on the Exchange of Global Anti-Base Erosion (GloBE) Information Returns (GIR MCAA) on 31 March 2026. The agreement facilitates the automatic exchange of GloBE Information Returns between tax authorities and reduces compliance costs for multinational enterprise groups...
Turkey’s Revenue Administration has released guidance for the 2026 corporate income tax (CIT), setting out standard and sector-specific rates, available incentives, and rules for the domestic minimum corporate tax. The guidance, published on 31 March 2026, is designed to help companies understand their tax obligations, claim eligible reductions, and calculate minimum tax liabilities. Corporate income...