Saturday, September 19, 2026
Peru has enacted Law No. 32706, introducing tax incentives and industry measures aimed at modernising the country’s commercial fleet used for national coastal shipping while strengthening the domestic naval industry, including shipbuilding, repair and maintenance. The law was promulgated on 3 July 2026 and published in the Official Gazette on 4 July 2026. It establishes...
Chile’s tax administration (SII) has issued Ruling No. 1723-2026 of 14 July 2026, in which it addresses and formalises the tax treatment for short-term performing arts workers. The SII issued this directive in response to a specific consultation regarding how to calculate the second-category single tax (IUSC) for arts and entertainment workers hired for very...
The Inland Revenue Authority of Singapore (IRAS) has expanded its network for the automatic exchange of Country-by-Country (CbC) reports by adding Greenland to the list of participating jurisdictions. The update, published on 21 July 2026, applies to financial years beginning from 1 May 2024. The revised guidance updates Singapore’s existing exchange relationships for CbC reporting,...
President Donald Trump announced on 21 July 2026 that generic drugs imported into the United States will enjoy a zero-tariff window through 31 July 2028, after which tariffs will accelerate sharply. Once the grace period ends, imported generics will face 100% tariffs for twelve months, jumping to 200% permanently thereafter. “Effective August 1st, 2026, all...
Nigeria’s Federal Ministry of Information and National Orientation announced on 17 July 2026 that officials from Nigeria and Portugal discussed bilateral relations, including progress toward concluding an income tax treaty, during the EurAfrican Forum held in Cascais, Portugal, from 15 to 16 July 2026. Both parties identified several areas for immediate action: trade and investment...
A draft law has been submitted to the Russian State Duma proposing the introduction of a new individual income tax deduction for young professionals working in certain fields. The proposal is set out in Draft Law No. 1292383-8, submitted on 17 July 2026. The bill would apply to professionals under the age of 35 who...
The OECD has released the eighth edition of its Corporate Tax Statistics for 2026, featuring expanded data on corporate taxation, multinational enterprises, and BEPS practices on 21 July 2026. Corporate Tax Statistics is an OECD flagship publication on corporate income tax, providing comprehensive data on corporate taxation, multinational enterprise group (MNE) activity, and base erosion...
Hungary’s National Tax and Customs Administration has announced that the Hungarian National Bank reduced its base interest rate from 6.00% to 5.75%, effective 22 July 2026. The rate had previously been lowered from 6.25% to 6.00% on 24 June 2026. The base rate is used to calculate interest on late tax payments, which is set...
The Office of the United States Trade Representative (USTR) announced the signing of a reciprocal trade agreement with Jordan on 21 July 2026 and released a fact sheet outlining its key provisions. “President Trump is deepening our economic and strategic partnerships in the Middle East, reaching deals to unlock new opportunities for American exporters,” said...
The Dutch Tax Administration issued a clarification on 21 July 2026, explaining that the controlled foreign company (CFC) levy does not take low-tax-free investments into account. The recent clarification by the Dutch Tax Administration provides important insights into how the CFC rules interact with the participation exemption under the Dutch Corporate Income Tax Act 1969...