Saturday, August 08, 2026
The Kaohsiung National Taxation Bureau of the Ministry of Finance announced on 25 May 2026 that, for any reason, those who are unable to submit their CFC financial statements within the prescribed period may apply to their local tax authority for an extension before the deadline for filing their corporate income tax return. Alternatively, they...
OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has released the Tax Transparency in Latin America 2026: Latin America Initiative Progress Report on 25 May 2026, outlining regional progress in implementing international tax transparency standards and assessing their impact. Steady progress on tax transparency increasingly translates into domestic revenue rewards for...
The EU and Mexico have taken a major step forward in their partnership by signing the Modernised Global Agreement (MGA) and interim Trade Agreement (iTA) on 22 May 2026 At the 8th EU-Mexico Summit in Mexico City, both sides agreed to deepen their political and economic cooperation at a time of growing global uncertainty. The...
Italy’s Revenue Agency has announced that the government has introduced Legislative Decree no. 89/2026, published on 25 May 2026, implementing comprehensive tax relief measures to ease the burden of rising fuel costs on citizens and businesses. The decree runs from 23 May through 6 June 2026. Excise duty reductions on fuel The decree temporarily reduces...
Romania has raised annual mining tax rates through Decision No. 391, published on 14 May 2026 in the Official Gazette, with the changes taking effect from 15 May 2026. The new rates, established under Article 44 of Mining Law No. 85/2003, represent increases across all mining activity categories: Prospecting: RON 599 per km² (increased from...
Morocco’s tax authority (DGI) has introduced a new online system requiring foreign digital service providers to register and pay VAT on services delivered to Moroccan clients. Non-resident companies without a physical presence in Morocco must comply if they provide remote digital services to non-VAT registered customers based in the country. The new platform, called “Taxation...
The Industry and Security Bureau of the US Department of Commerce has published a notice in the Federal Register concerning the Procedures to Apply for Company-Specific Onshoring Agreements to Obtain Tariff Adjustments for Pharmaceuticals and Pharmaceutical Ingredients Under Proclamation 11020. This notice follows the previously issued Proclamation 11020 of 2 April 2026, which established a...
The Senate of Burundi, on 21 May 2026, gave its approval to the income tax treaty with the UAE. The treaty was signed on 16 February 2017. The primary goal of this treaty is to create a transparent tax environment and encourage cross-border investment. By removing the burden of being taxed in both countries, the...
The UK announced on 21 May 2026 a temporary reduction in value-added tax (VAT) for tourist attractions and related services from 25 June 2026 to 1 September 2026, aimed at supporting families and the hospitality sector amid rising energy costs following the Iran war. British finance minister Rachel Reeves said the VAT rate for attractions...
Turkey has enacted Law No. 7579, adopted on 7 May 2026 and published in the Official Gazette (Issue 33261), introducing amendments to the Land Registry Law No. 2644, Stamp Tax Law No. 488 and Condominium Law No. 634. A key procedural change requires real estate valuation reports prepared by institutions authorised by the Capital Markets...