Sunday, June 07, 2026
The Hong Kong Inland Revenue Department has announced the Stamp Duty (Amendment) (No. 2) Bill 2026 on 29 May 2026, which was published in the Official Gazette the same day. The Stamp Duty (Amendment) (No. 2) Bill 2026 provides for the calculation and payment of stamp duty arising from transactions of dual-counter stocks conducted at...
The Swedish government has proposed introducing a statutory definition of “permanent residence” in the Income Tax Act, a key concept used to determine whether an individual is subject to unlimited tax liability in Sweden. An individual who is considered to be permanently staying in Sweden is generally regarded as having unlimited tax liability there. This...
The US Court of International Trade (CIT) has refused to suspend enforcement of a judgment striking down President Trump’s 10% temporary import surcharge. In a decisive ruling issued 20 May 2026, the court found the surcharge overstepped presidential authority under Section 122 of the Trade Act of 1974, and rejected the administration’s request to stay...
The South African Revenue Service (SARS) has issued revised guidance and additional instructions for the submission of Global Minimum Tax (GMT) Returns and the payment of related liabilities. The Global Anti-Base Erosion (GloBE) Model Rule—Pillar Two establishes a structured framework for calculating effective tax rates (ETRs) and administering top-up taxes in jurisdictions where the ETR...
El Salvador has released a more taxpayer-friendly interpretation of how businesses can deduct operating costs. On 11 May 2026, the Legislative Assembly issued Decree No. 568, replacing a seven-year-old rule that had restricted deductions in several key ways. The new interpretation took effect on 19 May 2026, eight days after its official publication in the...
The Trump administration announced substantial new tariffs on Tuesday, 3 June 2026, targeting 60 trading partners deemed inadequate in combating forced labour in their supply chains. The move escalates trade tensions as the administration rebuilds its tariff framework following February’s Supreme Court ruling that invalidated earlier levies under emergency powers. Tiered tariff structure The tariffs...
Bolivia’s National Tax Service (SIN) has issued Resolution No. 102600000017 of 27 May 2026 to further extend the deadline for the digital submission of financial statements, the annual report, the transfer pricing study, and the related-party transaction information statement (Form 601). The new deadline for the year ending 31 December 2025 is 30 June 2026....
The Organisation for Economic Co-operation and Development (OECD), on 29 May 2026, released an updated list of signatories to the Multilateral Competent Authority Agreement on the Exchange of Global Anti-Base Erosion (GloBE) Information Returns (GIR MCAA), including the respective dates of signature. The agreement facilitates the automatic exchange of GloBE Information Returns between tax authorities...
The Czech Financial Administration released a statement on the Pillar Two global minimum tax forms recently approved under Decree No. 68/2026, published in the Official Gazette on 20 May 2026. A key point of the statement is the confirmation that the Czech Republic has adopted the OECD’s common understanding issued on 18 May 2026, under...
Belgium has gazetted the Royal Decree of 25 May 2026, which officially approves the model form for the supplementary national tax return for the 2024 tax year. The supplementary national tax represents Belgium’s qualified domestic minimum top-up tax (QDMTT), implemented in line with the Pillar Two global minimum tax rules under Council Directive (EU) 2022/2523...