Saturday, August 08, 2026
Canada’s Minister of Finance and National Revenue has announced, on 3 June 2026, that the government will be extending key steel and aluminium tariff measures for one year. Subject to approval by the Governor in Council, Canada will extend its steel tariff-rate quotas (TRQ) regime for imports from non-CUSMA partners, and the existing horizontal tariff...
Japan’s National Tax Agency has published an updated list of jurisdictions for the exchange of Country-by-Country (CbC) reports. Country-by-Country (CbC) reports are a standardised tax reporting framework requiring large multinational enterprises (MNEs) to disclose aggregate data on their global allocation of income, profit, taxes paid, and economic activity for every tax jurisdiction in which they...
New York Governor Kathy Hochul signed the New York State Fiscal Year 2027 Budget on 28 May 2026. This legislative package is designed to address the rising cost of living while funding critical public safety and infrastructure initiatives. While the budget touches on many sectors, its tax provisions are particularly focused on providing relief to...
The French Council of Ministers approved the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA) under Pillar Two of the OECD/G20 Inclusive Framework on BEPS on 27 May 2026. The GIR MCAA is designed to facilitate the automatic exchange of GloBE Information Return (GIR) data between tax administrations. It is classified...
The Trump administration announced a new punitive tariff of 25% on numerous Brazilian imports on Monday, 1 June 2026, citing unfair trade practices spanning digital commerce, intellectual property rights, and environmental protection. US Trade Representative (USTR) Jamieson Greer confirmed the measures under Section 301 of the Trade Act, targeting sectors including electronic payments, preferential tariff...
Switzerland and Finland have moved forward with updating their longstanding tax agreement, with the Swiss State Secretariat for International Finance announcing the signing of an amending protocol to their 1991 income and capital tax treaty on 28 May 2026. This protocol implements the minimum standards for double taxation agreements. This protocol implements the minimum standards...
Luxembourg has published the Grand-Ducal Regulation of 26 May 2026 in the Official Gazette, setting out the list of jurisdictions with which it will automatically exchange information from GloBE Information Returns (GIRs) in relation to the global minimum tax framework (referred to in the text as the “impôt complémentaire”). The regulation, issued by Grand Duke...
The Organisation for Economic Cooperation and Development (OECD) released an updated list of signatories, along with their signing dates, for the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports on 29 May 2026. As of 29 May 2026, 115 jurisdictions have signed the MCAA-CbC. Under BEPS Action 13, all large multinational...
The Belarusian President signed a law for the ratification of the income tax treaty with Jordan on 25 May 2026. Signed on 16 December 2025, this treaty is aimed at preventing double taxation and facilitating economic cooperation between the nations. The agreement is also aimed at eliminating double taxation for residents of both countries on...
Italy’s Revenue Agency has issued a clarification on 26 May 2026 confirming that pleasure boats transferred from outside the EU qualify for VAT exemption when imported by relocating residents, even when held through foreign corporate structures. The clarification, issued as Response no. 105 on 25 May 2026, resolves a grey area for expatriates moving under...