US imposes 100% tariff on imported branded pharmaceuticals, lower rates for EU, UK, Japan and Korea (Rep.)
US President Donald Trump has signed an executive order imposing sweeping tariffs on imported patented pharmaceuticals, with rates reaching 100% for most products not manufactured domestically. The measure, formalised through a proclamation issued
See More
US: IRS publishes 2026 housing cost limits for tax exclusion and deductions
The US IRS has released Notice 2026-25, setting out updated limits on housing expenses for 2026 under Section 911 of the Internal Revenue Code. This notice provides adjustments to the limitation on housing expenses for purposes of section 911 of
See More
US: IRS provides last-minute filing tips, resources to help taxpayers who still need to file
The US Internal Revenue Service (IRS) issued a release on 9 April 2026, in which it reminded last-minute tax filers of the 15 April deadline. The IRS encourages those who still need to file to use free tools and resources on IRS.gov to file on
See More
Ecuador to impose 100% tariffs on Colombian imports amid border security dispute
Ecuador has announced that it will increase customs duties on imports from Colombia to 100% from 50%, effective 1 May, escalating a series of tariff measures linked to border security and drug trafficking concerns. The Ministry of Production said
See More
Brazil plans tighter spending rules, tax break curbs from 2027
Guilherme Mello, Brazil’s Planning Ministry's newly appointed executive secretary, said on Wednesday, 8 April 2026, that Brazil is pressing ahead with fiscal discipline despite an upcoming presidential election, with new spending caps and
See More
Brazil raises presumed profit margins for corporate income, social contribution taxes
Brazil’s tax authority, the Federal Revenue Service (RFB) issued Normative Instruction No. 2,306 on 23 January 2026, modifying the taxation framework for companies operating under the presumed profit regime. The changes establish a tiered system
See More
Brazil: New transfer pricing framework brings strategic shift for multinationals
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
See MoreBrazil introduces tax debits, credits reporting for CSLL minimum top-up tax
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
See MoreUS: Trump threatens 50% tariffs on countries supplying weapons to Iran
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
See MoreUS: IRS expands business tax account access to partnerships, government, tax-exempt entities
The US Internal Revenue Service announced a major expansion of its Business Tax Account on 6 April 2026, making the online self-service platform available to partnerships, federal, state, and local governments, Indian tribal governments, and
See More
Colombia: DIAN issues 2025 exogenous information reporting deadlines
Colombia’s National Tax and Customs Directorate (DIAN) has announced that deadlines for submitting Tax Exogenous Information for the 2025 tax year begin in April 2026. Taxpayers are advised to verify their specific submission dates based on the
See MoreBrazil: RFB launches Federal Tax Debits and Credits Declaration Generator program with updated filing rules
Brazil’s tax authority, the Federal Revenue Service (RFB) announced, on 6 April 2026 that it has launched Version 3.9 of the Federal Tax Debits and Credits Declaration Generator (PGD DCTF), which is now available for download. This update
See More
Bolivia cuts corporate tax burden for zero-rated VAT businesses
Bolivia’s National Tax Service (SIN) has introduced a regulatory update yesterday, 7 April 2026, aimed at easing the tax burden on businesses operating under the “zero rate” VAT regime. Through Regulatory Board Resolution (RND) 102600000010,
See MoreUS releases guidance to States for nominating census tracts as qualified opportunity zones
The Department of the Treasury and the Internal Revenue Service issued guidance on 6 April 2026 to the Chief Executive Officers of any State, the District of Columbia, and US territories regarding the procedure for nominating population census
See MoreUS: IRS urges individual taxpayers timely filing, payment, extension requests before April deadline
With the 15 April tax deadline fast approaching, the Internal Revenue Service (IRS) reminded taxpayers on 3 April 2026 that there is still time to file their federal income tax return electronically and request direct deposit for any refund due.
See More
Ecuador confirms VAT rules for processed foods
Ecuador’s Internal Revenue Service (SRI) has clarified that only foods in their natural state are eligible for the 0% VAT rate. Any food that has been processed, prepared, or transformed is subject to the standard 15% VAT. This includes fruit
See MoreUS: Trump Administration reportedly considering simplification of steel, aluminium tariff system
The Trump Administration is reportedly preparing to overhaul its tariff structure for steel and aluminium products, aiming to ease the compliance burden on importers while maintaining protections for domestic manufacturers. Under the planned
See MoreUS: Trump Administration unveils FY2027 budget, proposes reduction in non-defence funding
The Trump administration unveiled its fiscal year 2027 budget proposal on 3 April 2026, featuring significant reductions to the Internal Revenue Service (IRS) alongside increased defence spending and border security priorities. The budget, set to
See More