US: IRS urges extension filers to submit 2025 tax returns using IRS Free File
The US Internal Revenue Service (IRS) has issued a release urging taxpayers who received filing extensions to use IRS Free File to submit their 2025 federal tax returns as soon as possible, ahead of the 15 October 2026 deadline. IRS Free File
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US: Treasury, IRS consults proposed immigration-status restrictions on refundable tax credits
The US Department of the Treasury and the Internal Revenue Service (IRS) proposed regulations (REG-119882-25) on 20 August 2026 that would extend federal immigration-status restrictions to the refundable portions of four tax credits. The proposed
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Hong Kong, Peru free trade agreement takes effect in September 2026
The free trade agreement (FTA) between Hong Kong and Peru, signed on 15 November 2024, will enter into force on 1 September 2026, following completion of internal procedures by both jurisdictions, according to a release by the Hong Kong government
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Brazil: RFB launches new digital tax audit targeting PIS/Cofins discrepancies
Brazil's tax authority (RFB) announced it rolled out a new round of the Digital Tax Audit (MFD) on 27 August 2026, focused on insufficient PIS/Cofins declarations. The initiative gives taxpayers a window to self-correct discrepancies in their social
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Argentina: ARCA launches digital system for investment incentives
Argentina’s tax administration (ARCA) announced on 27 August 2026 that it activated the Investment Management System (SGI), a web platform for registering investment projects, selecting tax benefits, and administering the Incentive Regime for
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Canada adjusts retaliatory US tariffs, excludes seafood sector
Canada's Department of Finance removed seafood and fish products from its counter-tariff list on 26 August 2026, following industry feedback about potential economic damage. The exclusion targets selected items while maintaining broader retaliation
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Dominican Republic: DGII expands mandatory electronic invoicing
The Dominican Republic’s General Directorate of Internal Taxes (DGII) has announced, on 26 August 2026, that taxpayers classified as Large Local and Medium must exclusively issue electronic invoices using sequences of electronic tax receipts
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US: IRS retires FIRE system, requires transition to IRIS before 2027 tax season
The US Internal Revenue Service (IRS), in a release on 24 August 2026, has reminded information return filers who currently use the Filing Information Returns Electronically (FIRE) system to prepare now for the system’s retirement and transition
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US: Treasury, IRS propose regulations to reshape CFC income inclusion rules among US shareholders
The US Treasury and the IRS have proposed regulations (REG-115646-25) establishing rules for allocating a controlled foreign corporation’s (CFC) subpart F income, tested income, and tested loss among US shareholders based on their respective
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Argentina extends individual and undivided estates income tax filing, advance payment deadlines
Argentina’s tax authority (ARCA) announced, on 25 August 2026, that it has extended the deadline for filing income tax returns for individuals and undivided estates until 22 September 2026. This extension was implemented through General
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US: IRS urges foreign filers to register for TCC ahead of 2027 filing season
The US Internal Revenue Service (IRS) has released Issue No. 2026-08, urging eligible foreign filers to register for a Foreign Filer Transmitter Control Code (TCC) ahead of the 2027 filing season on 19 August 2026. The registration provides
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Canada announces retaliatory tariffs, CAD 7.5 billion support package to mitigate impact from US
Following the US imposition of a 50% tariff on USD 27.6 billion of Canadian goods effective 22 August, Canada has announced retaliatory tariffs on around USD 20 billion worth of annual US imports on 25 August 2025 alongside support measures for
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Argentina, Vietnam conclude income tax treaty negotiations
Argentina and Vietnam have concluded negotiations on their income tax treaty, according to an update from Argentina’s Undersecretariat of Public Revenue. This agreement seeks to establish a framework for eliminating double taxation on income
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Colombia introduces tax measures to support music sector
Colombia has introduced a legal framework to recognise, promote and strengthen its music sector, including tax measures covering musical products, equipment, manufacturing inputs and contributions to the sector. The measures are set out in Law No.
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US: Trump administration escalates tariff threat on Canadian automotive sector
President Donald Trump announced plans to impose 50% tariffs on all vehicles, trucks, and automotive parts originating from Canada, effective 1 January 2027, following the collapse of trade negotiations on 21 August 2026. Treasury Secretary Scott
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Chile: SII extends deadline for taxpayers with outstanding solidarity loan debts
Chile's Internal Revenue Service (SII) announced, on 20 August 2026, that it has given 900,000 individual low-income taxpayers an additional three months to settle their tax obligations related to unpaid Solidarity Loan instalments from 2020 and
See MoreArgentina, Kuwait end income tax treaty negotiations
Argentina’s Undersecretariat of Public Revenue, in an update, stated that Argentina and Kuwait have concluded negotiations and initialled an income and capital tax treaty. This agreement seeks to establish a framework for eliminating double
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Canada suspends US trade negotiations, retaliates with matching tariffs
Prime Minister Mark Carney announced on 21 August 2026 that Canada's government has halted negotiations with the US following what it characterises as unfair last-minute changes to proposed trade terms. The decision came after the US announced plans
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