Saturday, August 08, 2026
Sweden’s parliament (Riksdag) has approved legislation on 11 June 2026, introducing a series of changes to the country’s tonnage tax regime, expanding its scope and providing greater operational flexibility for shipping companies. The amendments, contained in Bill Prop. 2025/26:243, were backed by the Swedish Tax Committee and are intended to improve the competitiveness of the...
Germany’s Federal Ministry of Finance has issued updated guidance on the determination of a Permanent Establishment (PE), setting out the administrative principles for assessing when a business presence constitutes a PE under domestic tax law and international tax treaties. The guidance, published on 18 June 2026, explains the conditions for establishing a PE under section...
Ukraine’s Parliament has approved a law to introduce the international automatic exchange of information on income earned through digital platforms and to establish rules for the taxation of such income, bringing the country closer to OECD reporting standards. Draft Law No. 15111-d was adopted by the Verkhovna Rada on 9 June 2026 and was sent...
Cyprus has pushed back the filing deadline for 2025 individual income tax returns to 31 October 2026, giving taxpayers extended time to prepare and submit their annual declarations without triggering penalties. The Council of Ministers issued the extension via Decree K.D.P. 260/2026 on 12 June 2026, formally published in the Official Gazette. The extended deadline...
Finland will formally suspend its income tax treaty with Russia effective 1 July 2026, aligning with Russia’s August 2023 decision to suspend reciprocal application. Up until now, Finland maintained the treaty unilaterally despite the lack of mutual obligation, but has now decided to discontinue this one-sided approach. The suspension means both nations will revert to...
Hong Kong’s government welcomed the passage of the Inland Revenue (Amendment) (Automatic Exchange of Information) Bill 2026 by the Legislative Council on 17 June 2026, to enhance the administrative framework for the automatic exchange of information in tax matters (AEOI) in Hong Kong. This follows Hong Kong’s Legislative Council announcing on 15 June 2026 that...
The South African Revenue Service (SARS) has published guidance outlining how in-scope multinational enterprises (MNEs) must submit the global minimum tax return (GMT01), the global minimum tax declaration form (GMT02), and the related tax calculation for the applicable fiscal year through eFiling. The guidance explains the use of the Global Information Return (GIR), a standardised...
Vietnam’s Department of Taxation has released Official Letter No. 3870/CT-CS on 10 June 2026, providing guidance on the implementation of obligations relating to Country-by-Country (CbC) Reports . The guidance follows Vietnam’s accession to the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) on 3 January 2025 and outlines the application of...
The Inland Revenue Department (IRD) of Sri Lanka has issued reminders to taxpayers regarding Value Added Tax (VAT) and VAT on Financial Services (VAT on FS) for the month of May 2026. Both payments and returns must be completed within the stipulated dates to avoid penalties. VAT on goods and services Taxpayers are reminded that...
Belgium has launched a public consultation on a draft undertaxed payments rule (UTPR) top-up tax form and related explanatory guidance for the 2025 tax year. UTPR explanatory guidance Issued by the Federal Public Service Finance, the official guidance and instructions for filing the 2025 assessment year tax return related to the UTPR top-up tax in...