US set to impose 50% tariffs on Canadian goods
The US is set to impose 50% tariffs on nearly USD 20 billion of Canadian goods beginning 19 August 2026, according to an announcement made under Section 338 of the Tariff Act of 1930. The duties would affect approximately 5.2% of the USD 383
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US: Treasury, IRS issue final backup withholding regulations for third-party network transactions
The US Department of the Treasury and the IRS have issued final regulations (TD 10053) adopting, without changes, the proposed regulations (REG-112829-25) published on 9 January 2026. The regulations align the backup withholding rules for
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Brazil mandates national e-invoicing for Simples Nacional businesses from November 2026
Brazil’s tax authority, the Federal Revenue Service (RFB), announced on 14 August 2026 that it is introducing a new timeline for mandatory electronic invoicing for micro and small businesses under the Simples Nacional tax regime as part of the
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US: Trump administration wins court backing elimination of tariff exemption on low-value imports
The US Court of International Trade issued a ruling on 13 August 2025 that sided with the Trump administration's decision to eliminate the "de minimis" tariff exemption for small-value imports below USD 800. The three-judge panel found that the
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Uruguay sets new IRPF deadline for foreign capital income
Uruguay’s General Tax Directorate (DGI) has amended certain Personal Income Tax (IRPF) deadlines for withholding agents and taxpayers receiving income from real estate leases, capital gains and foreign movable capital income through DGI Resolution
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Brazil plans to end cash-basis tax calculations for Simples Nacional from 2027
Brazil’s National Simplified Tax System Management Committee (CGSN) approved new changes to the regulations of the National Simplified Tax System on 14 August 2026, with the aim of adapting the system to changes introduced by the Consumption Tax
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US: Trump signals federal challenge to New York luxury property tax
New York's so-called pied-Ã -terre tax faces mounting legal pressure after President Donald Trump announced on 11 August 2026 that the federal government might challenge the surcharge on luxury second homes in the city. The tax, designed to
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US: Treasury, IRS issue proposed regulations on employer contributions to Trump Accounts under the Working Families Tax Cuts
The US Department of the Treasury and the Internal Revenue Service (IRS) Â announced that it issued proposed regulations on 11 August 2026, guiding employers that choose to make contributions to Trump Accounts for employees or their dependents. The
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Chile: SII seeks repayment of CLP 553 billion in pandemic loan instalments granted in 2020, 2021
Chile’s tax authority (SII) announced on 13 August 2026 that around 1.07 million people who received pandemic relief loans through Chile's solidarity loan programme face repayment demands after failing to file tax returns during the 2022–2026
See MoreUS: Trump administration to impose steep tariffs on drone imports to boost domestic production
The Trump administration is imposing tariffs of up to 100% on imported drones and drone components, as part of efforts to reduce US reliance on foreign suppliers and potentially accelerate the decoupling of drone supply chains from China. Under
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US: FinCEN permanently removes beneficial ownership reporting requirement for small companies
The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on 11 August 2026 that it has issued a final rule permanently removing the requirement for US companies and US persons to report beneficial ownership
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US: IRS updates FAQs on qualified overtime compensation deduction
The US Internal Revenue Service (IRS) has updated its frequently asked questions on the deduction for qualified overtime compensation, providing further clarification on eligibility, calculation, reporting and withholding requirements. The
See MoreUS: IRS expands business tax account features for eligible businesses
The US Internal Revenue Service announced, on 6 August 2026, new and expanded features for Business Tax Account (BTA) users, giving eligible businesses and organisations more ways to view digital notices, make payments, and access and manage federal
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Bolivia enacts five-year tax exemptions to boost key sectors
Bolivia’s Executive Branch has published Law No. 1755 of 30 July 2026 in the Official Gazette, which entered into force on the same day. The Executive Branch has introduced tax incentives through amendments to the 2026 General State Budget,
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Dominican Republic revises waste management contribution brackets
The Dominican Republic has introduced new solid waste management contribution brackets and restrictions on certain single-use plastics under Law No. 36-26, which amends the General Law on the Integrated Management and Co-processing of Solid Waste
See MoreUS: Trump administration returns USD 100 billion in struck-down tariffs
The Trump Administration has disbursed roughly USD 100 billion in refunds from tariffs the Supreme Court invalidated in February, according to a court filing released 5 August 2025. The figure represents about 60% of the USD 166 billion the
See MoreUS Treasury, IRS issue guidance on Saver’s Match Ahead of 2027 launch
The US Department of the Treasury and the Internal Revenue Service (IRS) issued Notice 2026-48 on 7 August, announcing their intention to propose regulations on the federal Saver’s Match program. The notice outlines anticipated rules for the
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US: Trump administration to reject solar industry push for faster polysilicon tariff rollout
The Trump administration is expected to reject requests from some US solar manufacturers to accelerate the implementation of a proposed 15% tariff and price floor on imported polysilicon products. The measures could be announced as early as Thursday
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