Saturday, August 08, 2026
The Philippines is stepping up efforts to attract foreign investment by expanding its network of double taxation agreements and advancing legislation to implement the OECD’s Pillar Two global minimum tax rules. According to a report published by the Philippine News Agency on 17 June 2026, Finance Secretary Frederick Go announced that the Philippines is actively...
The OECD has published a new report on 19 June 2026, outlining global advancements in tax transparency and the effective exchange of information for tax purposes. Jurisdictions are making continuous progress in strengthening transparency and effectively exchanging information for tax purposes, according to the new report by the Global Forum on Transparency and Exchange of...
Belgium’s tax authority, the Federal Public Service (SPF) Finance, announced on 23 June 2026 that, from 1 July 2026, new European regulations concerning online purchases of goods from non-EU countries valued up to EUR 150 come into effect. A flat fee of EUR 3 per item applies to these e-commerce shipments. This measure, effective until...
Italy’s Revenue Agency has finalised implementation of DAC8 (Directive (EU) 2023/2226) through a provision signed on 22 June 2026 by Director Vincenzo Carbone. The new rules establish mandatory registration and reporting obligations for cryptocurrency service providers, marking a significant step in the global fight against crypto-related tax evasion. The framework implements Legislative Decree no. 194/2025...
Chile has initiated a coordinated debt relief initiative, effective as of 18 June 2026, to encourage taxpayers to settle outstanding tax obligations. The programme, which operates under Article 207 of the Tax Code, represents a joint effort by the Internal Revenue Service (SII) and the General Treasury of the Republic (TGR) to create a pathway...
The Cyprus Tax Department announced on 18 June 2026 that it has activated the TAXISnet System for 2025 Individual Income Tax Return submissions at https://taxisnet.mof.gov.cy. Under Council of Ministers Decree K.D.P. 52/2025, employees, pensioners, and self-employed persons must file if their gross annual income exceeds EUR 19,500. Pursuant to Council of Ministers Decree K.D.P. 260/2026,...
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...