Bolivia updates list of low-tax jurisdictions for transfer pricing, tax control purposes
Bolivia’s National Tax Service has published Resolución Normativa de Directorio (RND) Nº 102600000016 on 27 May 2026, updating its list of jurisdictions considered to have low or zero taxation for tax control and transfer pricing
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Canada to extend steel, aluminium tariff measures to support businesses
Canada’s Minister of Finance and National Revenue has announced, on 3 June 2026, that the government will be extending key steel and aluminium tariff measures for one year. Subject to approval by the Governor in Council, Canada will extend its
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US: New York approves FY 2026-27 budget, introduces tip income tax exemption
New York Governor Kathy Hochul signed the New York State Fiscal Year 2027 Budget on 28 May 2026. This legislative package is designed to address the rising cost of living while funding critical public safety and infrastructure initiatives. While
See MoreUS: Trump Administration unveils 25% Brazil tariff over trade grievances
The Trump administration announced a new punitive tariff of 25% on numerous Brazilian imports on Monday, 1 June 2026, citing unfair trade practices spanning digital commerce, intellectual property rights, and environmental protection. US Trade
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US: Tariffs to remain as Trump Administration reframes USMCA trade deal
The Trump administration is pressing ahead with its tariff-first approach to trade with North American neighbours, according to US Trade Representative (USTR) Jamieson Greer. Speaking at the Council on Foreign Relations on Tuesday, 26 May 2026,
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US, Mexico square off over automotive content in USMCA overhaul
The US and Mexico have launched formal bilateral negotiations to restructure the six-year-old US-Mexico-Canada Agreement (USMCA), with Washington pushing for stricter regional content rules—most notably, a new US-specific minimum threshold for
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Brazil: RFB issues guidance on PIS/Cofins credits during CBS transition
Brazil’s tax administration, the Federal Revenue Service (RFB) has clarified on 3 June 2026 that existing PIS/Pasep and Cofins tax credits will remain valid and usable even after these contributions phase out with the introduction of the
See MoreBolivia: National Assembly implements tax transparency, amnesty law
Bolivia’s National Assembly has enacted the Tax Transparency and Amnesty Law 1733 (Ley No. 1733), which was published in the Official Gazette on 28 May 2026. Law 1733 introduces broad tax administration and procedural measures aimed at waiving
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US: Treasury, IRS issue Section 892 proposed regulations to provide grandfathering protection and transitional relief to sovereign investors
The Department of the Treasury and the Internal Revenue Service announced on 29 May 2026 that it has issued additional guidance addressing the applicability dates of recent proposed regulations under Section 892 of the Internal Revenue Code, which
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US: Trade Court blocks 10% import surcharge, rejects government stay
The US Court of International Trade (CIT) has refused to suspend enforcement of a judgment striking down President Trump's 10% temporary import surcharge. In a decisive ruling issued 20 May 2026, the court found the surcharge overstepped
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El Salvador broadens deductibility of business costs, expenses under new tax decree
El Salvador has released a more taxpayer-friendly interpretation of how businesses can deduct operating costs. On 11 May 2026, the Legislative Assembly issued Decree No. 568, replacing a seven-year-old rule that had restricted deductions in several
See MoreUS: Trump Administration adjusts steel, aluminium tariffs in new proclamation
US President Donald Trump signed a proclamation revising his Section 232 national security tariffs on steel, aluminium, and copper imports on 1 June 2026. The changes lower rates on certain derivative products while introducing new restrictions
See MoreUS: Trump Administration imposes tariffs on 60 economies over forced labour violations
The Trump administration announced substantial new tariffs on Tuesday, 3 June 2026, targeting 60 trading partners deemed inadequate in combating forced labour in their supply chains. The move escalates trade tensions as the administration rebuilds
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Bolivia: SIN further extends 2025 filing deadline for financial statements, transfer pricing documentation
Bolivia’s National Tax Service (SIN) has issued Resolution No. 102600000017 of 27 May 2026 to further extend the deadline for the digital submission of financial statements, the annual report, the transfer pricing study, and the related-party
See MoreUS: IRS releases calculator for long-term contract interest computations
The US Internal Revenue Service announced, on 29 May 2026, the release of a new calculator to help businesses working on large, multi-year construction or manufacturing projects more easily figure interest related to those contracts. The
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Panama enacts law introducing economic substance rules for MNE groups
Panama has enacted Law No. 526 of 28 May 2026, significantly reforming its National Fiscal Code by introducing economic substance requirements for multinational enterprise (MNE) groups earning foreign-source passive income. The reform is designed
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Argentina to phase out export taxes on key industrial sectors
Argentina will gradually eliminate export taxes on several industrial sectors over the next 12 months starting in July 2026, according to the economy ministry. Export duties on automotive, petrochemical, chemical, rubber and machinery
See MoreUS: JCT publishes detailed explanation of tax overhaul under One Big Beautiful Bill Act
The US Congress Joint Committee on Taxation (JCT) published, on 28 May 2026, its General Explanation of the Tax Provisions of Public Law 119-21, providing a detailed breakdown of the tax measures contained in the One Big Beautiful Bill Act. The
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