Saturday, September 19, 2026
The Italian Ministry of Economy and Finance and the Revenue Agency have published coordinated guidance on Global Minimum Tax reporting, including centralised filing procedures for the GloBE Information Return and comprehensive FAQs addressing Pillar Two compliance obligations. Centralised GIR filing framework The Ministry of Economy and Finance has issued guidance on 22 June 2026 pertaining...
The Trump administration has declined to renew the US-Mexico-Canada Agreement (USMCA), putting the trade deal on a 10-year countdown toward possible termination. The announcement came following the agreement’s mandatory six-year review and signals Washington’s intent to renegotiate key terms before the pact expires. The decision means the trilateral trade pact will not receive an automatic...
The OECD has issued a working paper, Revisiting local tax attribution under central control on 29 June 2026. This paper asks how local tax revenues should be attributed when tax rates, tax bases or tax-sharing arrangements are shaped by higher-level governments. To address this question, it combines tax attribution criteria from the System of National...
The OECD has released the Tax Transparency in Africa 2026: Africa Initiative Progress Report on 30 June 2026. Continued progress on transparency and exchange of information for tax purposes boost African countries’ domestic resource mobilisation African countries identified EUR 417 million in additional tax revenue in 2025 through exchange of information (EOI) and related voluntary...
The EU has adopted Regulation (EU) 2026/1455 on 25 June 2026, introducing reduced customs duties on a wide range of goods originating from the US to support stronger bilateral trade relations. The regulation reduces the Common Customs Tariff to 0% for a broad range of industrial products and selected agricultural goods listed in Annex I....
Greece has extended the deadline for submitting GloBE Information Returns (GIR) for fiscal years ending on or before 31 March 2025, with in-scope entities now required to file by 30 October 2026 under Decision A.1131/2026 issued on 29 June 2026. The Independent Authority for Public Revenue (AADE) said the extension applies to the top-up tax...
Hungary’s government has authorised the signing of a protocol to amend and update the 1994 Hungary–Kuwait Income and Capital Tax Treaty, as amended by the 2001 protocol. The authorisation was issued under Government Resolution No. 1213/2026 (VI. 29.) as published in the Official Gazette No. 81 on 29 June 2026. According to the resolution, the...
Bahrain’s National Bureau for Revenue (NBR) has published Excise Guide Version 1.1 on 29 June 2026, updating its guidance on the operation of the Kingdom’s Excise system. The revised guide is intended to help businesses understand Excise rules, compliance obligations and the tax treatment of activities involving excisable goods. The principal update from Version 1.0...
Hungary has granted authorisation for the signing of an income tax treaty with Angola. The authorisation was issued under Government Resolution No. 1212/2026. (VI. 29.) as published in the Official Gazette No. 81 on 29 June 2026. The tax treaty is aimed at eliminating double taxation on income and strengthening measures against tax evasion and...
The Hong Kong Inland Revenue Department (IRD) announced on 30 June 2026 that it has released updated lists of Qualifying Debt Instruments (QDIs) and sovereign bonds eligible for profits tax concessions or exemptions as of 31 March 2026. Qualifying Debt Instruments issued before 1 April 2018 Short Term/ Medium Term Debt Instruments Eligible for Profits...