Saturday, August 08, 2026
Turkey enacted Law No. 7582 on 4 June 2026, introducing a broad package of tax reforms, including a differentiated corporate tax system and expanded incentives for exports, production, and qualified service activities. The legislation also introduces new exemptions for foreign-source income, extends incentives linked to the Istanbul Financial Centre, and includes measures on asset repatriation,...
New Zealand Inland Revenue has issued Tax Information Bulletin – June 2026 on 22 May 2026, which includes Commissioner’s statement (CS) 26/02: GST treatment of low value pre-registration acquired goods and services, among other things. Summary This Commissioner’s Statement reflects the Commissioner’s longstanding practice on this matter. This position applies notwithstanding any other published views...
Belgium’s General Administration of Customs and Excise announced on 5 June 2026 that it is introducing a digital system for exemption requests starting 1 July 2026. The initiative targets diplomatic missions, international organisations operating in Belgium, and their personnel who qualify for customs duties, excise duties, and VAT relief. The paper-based declaration form 136F will...
Sweden has submitted a proposal to the Council on Legislation from the Ministry of Finance introducing changes to the administration rules for reporting of withholding tax on dividends (coupon tax, Kupongskatt). The measures aim to reduce administrative burden for companies and strengthen the Swedish Tax Agency’s (Skatteverket) control procedures through increased digitalisation. This announcement was...
Panama has updated its CRS reportable jurisdictions list through Executive Decree No. 21 of 27 May 2026, as published in the Official Gazette. This executive decree establishes the updated list of foreign jurisdictions subject to financial data sharing for the 2025 fiscal period. Signed in May 2026, the decree reinforces Panama’s commitment to the Common...
Poland’s Council of Ministers has approved amendments to the Act on the Goods and Services Tax and taxpayer identification laws on 2 June 2026, reshaping how entrepreneurs handle tax compliance from 1 October 2026. The reforms eliminate unnecessary administrative hurdles, clarify ambiguous rules, and harmonise domestic law with recent European Court of Justice decisions. Several...
The Philippines Department of Finance (DOF), together with the Department of the Interior and Local Government (DILG) and the Department of Trade and Industry (DTI), has issued Joint Memorandum Circular (JMC) No. 01-2026, or the Guidelines on the Imposition of Local Taxes, Fees, and Charges on Registered Business Enterprises (RBEs) Availing of Tax Incentives Under...
Chile’s Internal Revenue Service (SII) announced that it released Resolution No. 69 on 3 June 2026, establishing the registration system and setting a mechanism for platforms without domicile or residence in Chile that provide betting, gambling, casinos, and similar or related services, online or through digital platforms, to pay the corresponding taxes for operations carried...
Italy’s tax administration issued two critical rulings on 4 June 2026 dismissing attempts to minimise gift tax during generational corporate transfers. Both decisions reinforce a core principle: transferring shares to the next generation only qualifies for tax relief if children gain genuine control and management of the business, not merely legal ownership on paper. Holding...
The European Commission has issued a letter of formal notice to Germany for non-compliance with EU rules on freedom of establishment, finding that the country’s SME investment deduction allowance may discriminate against cross-border investments within the EU and EEA, as outlined in its infringements package of 3 June 2026. Commission calls on Germany to end...