Saturday, August 29, 2026
Lithuania has opened a consultation on draft amendments to the Law on Corporate Income Tax that would extend the tonnage tax scheme for shipping companies until 31 December 2036 and ease bareboat charter-out rules for transactions between entities within the same group. The draft amendments, prepared by the Ministry of Transport and Communications, were registered...
Lithuania’s State Tax Inspectorate (VMI) has updated its official commentary on the Law on Corporate Income Tax, clarifying how corporate income tax or an equivalent tax paid abroad can be deducted from Lithuanian corporate income tax. The guidance, published on 21 August 2026, sets out eligibility conditions and limits for the foreign tax credit. The...
Colombia has introduced a legal framework to recognise, promote and strengthen its music sector, including tax measures covering musical products, equipment, manufacturing inputs and contributions to the sector. The measures are set out in Law No. 2615 of 29 July 2026, and entered into force on the same day. VAT measures for music products The...
The UAE Federal Tax Authority (FTA) has issued Decision No. 4 of 2026 on 2 June 2026, setting out rules and requirements for maintaining information contained in accounting records and commercial books. The decision establishes the applicable rules and requirements governing the maintenance of information contained in accounting records and commercial books. Its main provisions...
France’s tax system provides a broad range of incentives aimed at supporting investment, innovation, business development and the environmental transition. The framework includes reductions in corporate income tax and local taxation, alongside targeted incentives for research and development, green investment, innovative companies and businesses established in designated areas. The French tax administration’s guidance on tax...
Russia’s Federal Tax Service (FTS) will introduce an updated 3-NDFL tax return form (KND 1151020) from 1 September 2026, following the enactment of Federal Tax Service of Russia Order No. ED-1-11/333@ dated 25 May 2026. The order amends the 3-NDFL tax return form and the procedure for completing it. The changes allow individuals to claim,...
The Australian Taxation Office (ATO) has released Draft Taxation Ruling TR 2026/D1 (Income tax: receipt and disposal of crypto assets by an airdrop) for public consultation, outlining the capital gains tax (CGT) treatment of crypto-assets received through airdrops. Issued on 19 August 2026, this draft Ruling addresses the income tax consequences for an Australian resident...
President Donald Trump announced plans to impose 50% tariffs on all vehicles, trucks, and automotive parts originating from Canada, effective 1 January 2027, following the collapse of trade negotiations on 21 August 2026. Treasury Secretary Scott Bessent indicated the administration seeks Canada to return to negotiations in good faith. The proposed tariffs represent an escalation...
Portugal has enacted a major reform of its tax incentives for business research and development (R&D), extending direct relief under the SIFIDE II regime through 2026 while abolishing the mechanism that allowed companies to obtain deductions through R&D investment funds. The changes were introduced by Decree-Law No. 170/2026, published in the Official Gazette on 21...
Qatar and Egypt have signed four agreements covering customs cooperation, regulatory work, development and health cooperation, including a grant to establish the HH the Amir Sheikh Tamim bin Hamad Al-Thani Hospital in Sohag, Egypt. The agreements were signed on 20 August 2026 following the seventh session of the Qatar-Egypt Joint Higher Committee, according to HE...