Saturday, June 27, 2026
Australia has implemented amendments to its multinational taxation framework through the Taxation (Multinational—Global and Domestic Minimum Tax) Amendment (2026 Measures No.1) Rules 2026 on 26 March 2026. The changes took effect immediately upon registration and apply retrospectively to fiscal years starting on or after 1 January 2024. New currency conversion flexibility Multinational entities now have...
Brazil has fundamentally restructured its transfer pricing system through Law No. 14,596/2023 and RFB Normative Instruction No. 2,161/2023, marking a decisive shift toward OECD standards. The arm’s length principle takes centre stage The cornerstone of this transformation is Brazil’s adoption of the arm’s length principle, replacing the rigid prescriptive system of Law No. 9,430/1996. Transactions...
Brazil’s tax authority, the Federal Revenue Service (RFB), has introduced new reporting requirements for the additional social contribution on net profits (CSLL) implemented as a qualified domestic minimum top-up tax under global anti-base erosion rules through Normative Instruction No. 2,319/2026, which was published on 6 April 2026 in the Official Gazette. Companies subject to the...
US President Donald Trump announced on 8 April 2026, that the US will impose a 50% tariff on all goods imported from any country that supplies military weapons to Iran, despite losing his broadest tariff power earlier this year when the Supreme Court struck down his use of the International Emergency Economic Powers Act in...
The South African Revenue Service (SARS) has confirmed that three major Acts were promulgated on 1 April 2026, marking updates to the country’s tax and fiscal framework. The legislation includes the Rates and Monetary Amounts and Amendment of Revenue Laws Act 3 of 2026, the Tax Administration Laws Amendment Act 4 of 2026, and the...
Egypt’s State Information Service announced that Egypt and Morocco signed a new income tax treaty on 6 April 2026, alongside multiple agreements to strengthen bilateral treaties, covering industry, youth, culture, investment, agriculture, and finance. The agreement will enter into force after its ratification, and an exchange of ratification instruments. The treaty will replace the 1989...
Malta has issued the Gaming Tax (Amendment) Regulations, 2026 (Legal Notice 84 of 2026), published in the Government Gazette No. 21,615 on 1 April 2026. The rules simplify the previous system by merging the gaming tax and gaming device levy into a single framework, effective 1 October 2026. Redefinition of qualifying activities The amendment clarifies...
Bulgaria’s Ministry of Finance (MoF) has launched a public consultation, on 2 April 2026, on a draft law amending the Corporate Income Tax Act (CITA) to enhance tax incentives for corporate donations supporting the sports sector. The proposed amendments focus on expanding the tax deductibility of donations made to sports-related activities and institutions, while setting...
India’s Ministry of Finance has confirmed that the Memorandum of Understanding (MoU) with Japan on assistance in the collection of taxes will apply to any request submitted on or after 8 July 2025. The MoU, signed in Tokyo on 30 June 2025 and in New Delhi on 8 July 2025, operates under Article 26A of...
Taiwan’s Kaohsiung National Taxation Bureau, Ministry of Finance, has reminded profit-seeking enterprises that temporarily suspended operations during the 2025 tax year (Year 114 of the Republic of China calendar) that they must still file income tax returns within the statutory deadline. Failure to file may result in late-filing or non-filing penalties if tax is assessed....