Saturday, August 08, 2026
The G7 finance ministers and central bank governors convened on 18 May 2026, issuing a communiqué that reinforces their commitment to international tax cooperation and digital economy challenges. The ministers endorsed the OECD/G20 Inclusive Framework’s Global Minimum Tax Side-by-Side Package, viewing it as essential for maintaining tax certainty and creating fair competition among nations. The...
Brazil is implementing a major indirect tax reform, replacing five existing taxes — three federal (PIS, COFINS, IPI), one state (ICMS), and one municipal (ISS) — with two new taxes: CBS (federal contribution on goods and services), managed by the federal government. IBS (tax on goods and services), managed by states and municipalities. The reform...
Taiwan’s Central District National Taxation Bureau of the Ministry of Finance clarified that profit-seeking enterprises required to report income from Controlled Foreign Corporations (CFCs) must disclose relevant information and attach supporting documents in the prescribed format when filing their income tax returns. If a profit-seeking enterprise cannot submit the CFC financial statements audited and certified...
The Financial Administration of Slovenia (FURS) announced that the eDavki portal began accepting submissions of the GloBE-ODPD return and the GloBE-OPD return on 15 May 2026. The GloBE-ODPD return is intended for reporting top-up tax under the Qualified Domestic Minimum Top-up Tax (QDMTT), while the GloBE-OPD return is used for reporting top-up tax under the...
Hungary’s tax authorities released comprehensive guidance on 13 May 2026 addressing the reporting requirements for global minimum tax obligations. This guidance provides taxpayers with clarity on the detailed data submissions required under recently established regulations. This guidance provides an official technical guide for multinational enterprises to complete the OECD’s GloBE Information Return (GIR), specifically focusing...
The OECD announced that Montenegro deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 6 May 2026. The BEPS Convention will enter into force for Montenegro on 1 September 2026. By depositing its instrument of ratification, Montenegro reaffirmed its commitment...
Argentina’s Customs Revenue and Control Agency (ARCA), together with the Secretariat of Agriculture, Livestock and Fisheries and the Secretariat of Energy, has issued General Resolution 5849/2026 regulating the procedure for small and medium-sized enterprises to join the Regime for the Promotion of Medium-Sized Investments (RIMI), introduced under Law No. 27,802 on Labour Modernisation. The measure...
The Ukrainian parliament, the Verkhovna Rada of Ukraine, has adopted in the first reading draft law No. 15111-d on the taxation of income earned by individuals through digital platforms, as the legislation moves towards a second reading. The draft law establishes a framework for the automatic exchange of information on income generated via digital platforms,...
Greece has enacted Law No. 5301/2026, introducing new crypto-asset reporting rules, Pillar Two tax measures, VAT amendments, and changes to shipping taxation after the legislation was published in the Official Gazette on 15 May 2026. The law implements Council Directive (EU) 2023/2226 (DAC8) and Council Directive (EU) 2025/872 (DAC9), creating new reporting and due diligence...
China’s instant tax refunding service for overseas visitors, launched in April 2025, has significantly boosted inbound consumption with the rapid growth of business volume. Over the past year, the number of travelers applying for instant tax refunding service jumped 12.96-fold, while both tax-refundable sales and total tax refunds increased 9.35-fold. Under the instant refund scheme,...