Saturday, August 08, 2026
The Colombian Ministry of Finance and Public Credit published a revised edition of Decree No. 1625 of 2016 on 8 May 2026. The decree consolidates rules covering income tax, occasional gains tax, transfer pricing, withholding tax, VAT, national consumption tax, stamp duty, financial transactions tax, carbon tax, and the SIMPLE regime, while also updating provisions...
Italy’s Supreme Court has clarified the circumstances in which domestic transfer pricing rules apply to intragroup transactions, confirming that transactions conducted without consideration may remain outside the scope of transfer pricing where supported by legitimate economic reasons. The clarifications have been provided under Order No. 13136 of 7 May 2026. The central conflict involves transfer...
Croatia’s President promulgated the law ratifying the Croatia–New Zealand Income Tax Treaty (2025), as published in the Official Gazette (Narodne Novine) No. 4 of 15 May 2026. On 30 April 2026, the Croatian Parliament passed a law for the ratification of the income tax treaty between Croatia and New Zealand regarding the removal of double...
Croatia has gazetted the law ratifying the income tax treaty with Australia on 15 May 2026. Signed on 24 November 2025, the agreement between the two countries is intended to eliminate double taxation on income and to prevent tax evasion and avoidance. The treaty establishes maximum withholding tax rates on cross-border payments: dividends are generally...
Belgium’s Council of Ministers has approved a draft law for the ratification of the protocol to the 1978 income and capital tax treaty with Switzerland on 13 May 2026. Signed 16 July 2025, the protocol aims to align the 28 August 1978 tax treaty with the minimum standards of the OECD and G20 BEPS project...
Hungary has gazetted the Act XIV of 2026 on 9 May 2026, introducing various amendments and measures that entered into force on 14 May 2026. The Act also elevates certain provisions of government decrees to a statutory level, including those of Government Decree No. 87/2026, published in the Official Gazette on 23 April 2026. Government...
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has published guidance on 12 May 2026 regarding the Advance Tax Certainty Service, which is scheduled to be launched on 1 July 2026. The Advance Tax Certainty Service is designed to support the government’s objective of creating a stable and transparent tax environment by reducing...
US retail sales posted a solid gain for the third consecutive month in April 2026, though economists warn that rising inflation and depleted savings could dampen consumer spending in the coming months. According to the Commerce Department’s Census Bureau, retail sales climbed 0.5% in April following a revised 1.6% increase in March. Year-over-year growth reached...
Russia has published the Federal Law No. 104-FZ of 25 April 2026 in the Official Gazette, which introduces several significant amendments to the Russian Federation Tax Code, particularly regarding Value Added Tax (VAT) and the Simplified Tax Regime (STS). These changes are as follows: VAT exemption for catering businesses Organisations and individual entrepreneurs (IPs) transitioning...
The Hong Kong Inland Revenue Department 9IRD) has updated its guidance on the Global minimum tax and Hong Kong minimum top-up tax for multinational enterprise (MNE) groups by adding a new section on the exchange of GloBE Information Returns. The update highlights Hong Kong’s signing of the Multilateral Competent Authority Agreement on the Exchange of...