Saturday, August 08, 2026
Austria’s Federal Ministry of Finance has updated the list of jurisdictions participating in the automatic exchange of information (AEOI) for Global Anti-Base Erosion (GloBE) Information Returns (GIRs), providing further guidance on reporting obligations under the Pillar Two global minimum tax regime. In BMF Letter No. 2026-0.475.107, published on 9 June, the ministry outlined exchange relationships...
The European Union’s Faster and Safer Tax Relief of Excess Withholding Taxes (FASTER) directive establishes streamlined withholding tax relief procedures that expose significant gaps in Switzerland’s current system. While EU member states prepare to implement rapid electronic refunds by 1 January 2030, Swiss authorities continue to rely on largely paper-based mechanisms, creating a competitive disadvantage...
The Hong Kong government has published the Inland Revenue (Amendment) (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026 in the Gazette on 12 June 2026. The bill aims to enhance the preferential tax regimes for privately offered funds, family-owned investment holding vehicles (FIHVs) managed by eligible single family offices...
The US House Ways and Means Committee held a hearing on 9 June 2026 to explore new tax rules for digital assets, advancing eight bills and discussion drafts that aim to simplify compliance and establish clearer rules for activities like cryptocurrency mining and staking. The proposals address longstanding gaps in how the tax code treats...
Canada is preparing to pursue bilateral trade agreements with the US alongside the review of the Canada-United States-Mexico Agreement (CUSMA), Trade Minister Dominic LeBlanc said on Thursday, 11 June 2026. Speaking at a conference in Toronto, LeBlanc said Canada, the US and Mexico could negotiate arrangements outside the trilateral framework if such agreements help address...
The UK’s His Majesty’s Revenue and Customs (HMRC) has published guidance outlining how agents can access and amend a client’s domestic top-up taxes and multinational top-up taxes (Pillar Two top-up taxes) information through its online service. The guidance, issued on 10 June 2026, explains the steps agents must complete before they can manage Pillar Two...
Kazakhstan has introduced a pre-filled Value Added Tax (VAT) declaration service for Form 300.00, enabling VAT returns to be automatically populated using data held in government information systems. According to the state revenue authorities, the pre-filling of the VAT declaration (Form 300.00) is based on information available in the authorities’ systems, including electronic invoices, taxpayers’...
The Kenya Revenue Authority (KRA) has notified all taxpayers, on 8 June 2026, that filing of income tax returns for the year of income 2025 is ongoing and must be completed by 30 June 2026. To facilitate smooth filing for the 2025 Year of Income, KRA has allowed taxpayers to declare valid business expenses that...
In the landmark decision of Commissioner of Taxation v Bendel HCA 18, the High Court of Australia dismissed the Commissioner’s appeal by a 5–2 majority, providing critical judicial clarification on the intersection of trust law and anti-avoidance tax rules. The Court held that unpaid present entitlements (UPEs) belonging to a corporate beneficiary are not treated...
The European Commission released a country-by-country compliance guide for multinationals navigating the EU’s new global minimum tax framework on 10 June 2026. The “Manual for MNE Groups on Global Minimum Tax (Pillar Two) Compliance Obligations” covers Austria, Belgium, Croatia, Cyprus, Czech Republic, Finland, France, Germany, Greece, Ireland, Poland, Romania, Slovenia and Sweden, and stems from...