Tuesday, March 17, 2026
Canada and China have reached a preliminary trade agreement aimed at resetting their relationship and removing key barriers. During Prime Minister Mark Carney’s visit to Beijing, the first Canadian prime minister to go there since 2017, both countries agreed to reduce tariffs on electric vehicles and canola products, while also signalling broader cooperation. Under the...
The US House of Representatives passed H.R. 7006 by a 341–79 vote on 14 January 2026, moving closer to finalising the FY 2026 federal budget. The bill would cut US Internal Revenue Service (IRS) funding by about USD 1.1 billion, roughly 9% below FY 2025 levels, reducing the agency’s budget to about USD 11.2 billion...
The Dominican Republic’s General Directorate of Internal Taxes (DGII), under the Ministry of Finance has issued Resolution No. DDG-AR1-2026-00001, setting out inflation adjustment multipliers, updated monetary thresholds and revised tax parameters for the 2025 fiscal year-end and the 2026 tax year. The resolution was issued on 15 January 2026 and is applicable from 1 January...
The European Commission has announced the introduction of anti-dumping duties on fused alumina imported from China, citing concerns over unfair pricing and the EU’s growing reliance on a strategically important material. The new duties range from 88.7% to 110.6%, reflecting the extent of the dumping identified. To avoid disrupting supply chains, the Commission has also...
The weekend delivered a major jolt when President Donald Trump announced a new round of tariffs targeting eight allied nations. On 17 January 2026, Trump posted on Truth Social, demanding the “complete and total purchase of Greenland” from Denmark. To force a deal, he is imposing a 10% tariff on imports from Germany, France, the...
Peru enacted Law No. 32542, published on 31 December 2025, extending the value-added tax (VAT) exemptions for specified goods and services under Appendixes I and II of the VAT law until 31 December 2028. The extension is intended to support key economic sectors and maintain access to essential goods and services.
Panama’s National Assembly approved draft Law No. 439, ratifying the tax information exchange agreement (TIEA) with Ecuador on 14 January 2026. Signed on 14 August 2025, the agreement seeks to enhance tax cooperation and transparency through automatic and on-demand information exchange, helping detect tax evasion, improve revenue collection, and ensure data confidentiality. Its ratification supports...
Uruguay issued Decree No. 310/025 on 26 December 2025, which was published in the Official Gazette on 7 January 2026, revising the minimum monthly advance payment requirements for Corporate Income Tax (CIT) and Value-Added Tax (VAT) for 2026. Under the general CIT regime, taxpayers are required to make monthly advance payments based on specified income...
The OECD has released a replay of its recent webinar on the Side-by-Side arrangement for the Pillar 2 global minimum tax, which was agreed by the BEPS Inclusive Framework. Held on 13 January 2025, the webinar presented key elements of the “Side-by-Side” package, which charts the course forward for the coordinated operation of global minimum...
The Australian Taxation Office (ATO) issued a taxpayer alert on 14 January 2026 cautioning property developers against contrived arrangements involving related parties that may raise compliance concerns. The alert, TA 2026/1, addresses contrived property development arrangements between related parties that defer recognition of income and exploit tax losses. It informs taxpayers and their advisers of...