Sunday, May 17, 2026
The Australian Taxation Office (ATO) has updated its foreign exchange rate guidance, which includes Monthly exchange rates for 1 July 2025 to 30 June 2026, and monthly rates for February 2026. All foreign income, deductions, and foreign tax paid must be converted to AUD before being included in the return. There are rules about which...
Italy has gazetted Decree-Law No. 38 of 27 March 2026, effective from 28 March 2026, introducing several urgent tax measures that amend the 2026 Budget Law (Law No. 199 of 30 December 2025). It addresses multiple areas, including clarifications on VAT and import fees, enhanced investment incentives, and reforms to dividend and capital gains taxation....
Sweden’s Ministry of Finance (MoF) has proposed amendments to the Additional Tax Act (2023:875) to implement the side-by-side arrangement agreed by the OECD Inclusive Framework on 5 January 2026. The changes aim to align Swedish law with OECD/G20 global minimum tax (Pillar Two) guidance and reduce administrative burdens for multinational groups. Key amendments include: New...
Taiwan’s Ministry of Finance has issued a notice on 26 March 2026 that when a profit-seeking enterprise with its head office located within the territory of China invests in shares issued by a foreign company that has been approved to list and trade its shares in the Chinaany dividends distributed from such investment must be...
The Governor of Utah signed multiple bills on 23 March 2026, including Senate Bill (S.B.) 60, which revises the state’s corporate income tax rates. According to the Senate Bill (S.B.) 60, the corporate income tax rate will decrease from 4.54% to 4.45% for corporations doing business in the state. This applies to both domestic and...
Poland’s Ministry of Finance has announced the second phase of its National e-Invoicing System (KSeF) on 26 March 2026. From 1 April 2026 onwards, companies with 2024 sales below PLN 200 million must use KSeF for issuing invoices. However, smaller businesses with monthly invoice sales under PLN 10,000 gross receive an extended deadline until 1...
The Philippine Information Agency announced that on 25 March 2026, President Ferdinand Marcos Jr. signed Republic Act No. 12316, authorising the temporary suspension or reduction of excise taxes on petroleum products under specified conditions. The Act takes effect on 9 April 2026. Republic Act 12316 allows the President, upon recommendation of the Development Budget Coordination...
Italy’s tax authority has published the Annual Law on Small and Medium-Sized Enterprises (Law No. 34/2026) in the Official Gazette on 23 March 2026, which introduces targeted tax measures to boost business collaboration and attract foreign investment. Business network tax incentives return Legislative Decree no. 5/2009 introduced the so-called network contract. This institution aims to...
Australia’s House of Representatives introduced and gave the first reading to the Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Bill 2026 on 25 March 2026. The Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Bill 2026 outlines several legislative changes aimed at refining the Australian taxation and superannuation systems. A...
Estonia’s government approved the signing of the income and capital tax treaty with the UK on 19 March 2026. The updated treaty is structured to comply with current international norms, in accordance with the OECD/G20 Base Erosion and Profit Shifting (BEPS) guidelines. The treaty must be signed and ratified before it can enter into force....