Saturday, August 08, 2026
Albania and Lithuania signed an income and capital tax treaty on 25 May 2026, according to a release from Lithuania’s Ministry of Foreign Affairs. The agreement seeks to prevent double taxation and fiscal evasion between the two nations. The treaty also focused on strengthening economic relations between Lithuania and Albania, new trade and investment opportunities...
Japan’s Ministry of Foreign Affairs has confirmed that a new income tax treaty was signed with the Philippines on 28 May 2026. The treaty applies to Japanese income tax, corporation tax, special income tax for reconstruction, special income tax for defence, local corporation tax, and special corporation tax for defence. It also applies to Philippine...
Bulgaria’s National Assembly is reviewing a draft bill submitted on 18 May 2026 that proposes introducing a 0% VAT rate on “socially beneficial and essential foods and drinks” under the Value Added Tax (VAT) Act. The proposed measure would apply to products included in the National Statistical Institute (NSI) “small consumer basket” used for CPI...
The German Federal Cabinet (Bundesregierung) approved the Multilateral Competent Authority Agreement on Automatic Exchange of Information on Income Derived Through Digital Platforms (DPI MCAA), advancing the implementation of global reporting standards for platform-based income on 27 May 2026. The agreement operationalises the OECD’s Model Reporting Rules for Digital Platforms, which require operators of digital platforms...
France’s Directorate General of Public Finances (DGFiP) has clarified its position on the centralised filing and exchange of the GloBE Information Return (GIR), confirming its intention to apply a transitional relief framework aligned with the OECD’s agreement published on 18 May 2026. The OECD’s publication set out a common understanding negotiated by certain jurisdictions implementing...
Bolivia’s National Assembly has enacted the Tax Transparency and Amnesty Law 1733 (Ley No. 1733), which was published in the Official Gazette on 28 May 2026. Law 1733 introduces broad tax administration and procedural measures aimed at waiving taxes, interest, and penalties for both corporations and individuals. The legislation grants a one-time debt amnesty for...
Taiwan’s Taxation Bureau of the Northern Area, Ministry of Finance (NTBNA, MOF), stated that, as stipulated in Article 39 of the Income Tax Act, when profit-seeking enterprises deduct the verified losses of each of the former ten years from the current year’s net profit, the investment income of each such year that is not included...
The Department of the Treasury and the Internal Revenue Service announced on 29 May 2026 that it has issued additional guidance addressing the applicability dates of recent proposed regulations under Section 892 of the Internal Revenue Code, which exempts foreign governments, including sovereign wealth funds, from tax on certain income derived from passive U.S. investments....
Poland’s government announced on 29 May 2026 that it has prolonged its fuel pricing relief programme through 15 June 2026, continuing temporary cuts to VAT and excise duties on petrol, diesel, and biofuel components. The extension builds on measures first introduced in March 2026 in response to regional supply instability triggered by Middle East tensions....
The South African Revenue Service (SARS) has issued an updated guide to the Voluntary Disclosure Programme (VDP), replacing the previous version published in August 2023 and incorporating recent legislative amendments and court rulings. The revised guide, dated 21 May 2026, reflects changes introduced by the Tax Administration Laws Amendment Act 4 of 2026, which established...