KPMG Week in Tax: January 26– 30, 2026

Recent tax developments from around the globe for the week of January 26– 30, 2026

KPMG Week in Tax—published weekly to provide an overview of tax developments as reported in TaxNewsFlash—includes summaries of select tax-related news followed by a full list of reports (more information can be found at the links provided).

United States: The IRS has extended the deadline to December 31, 2027, for amending individual retirement arrangements (IRAs), simplified employee pension (SEP) arrangements, and savings incentive match plan for employees (SIMPLE) IRA plans to comply with the SECURE 2.0 Act, giving plan sponsors and financial institutions an extra year to implement required changes. This extension provides time for the IRS to issue model language and applies to written instruments and contracts governing these retirement plans. Read TaxNewsFlash
Poland: A proposed digital services tax would target large global companies with over €1 billion in global revenue and at least PLN 25 million in Polish revenue. The tax, capped at 3% of relevant revenues and reduced by corporate income tax, excludes activities like regulated financial services, direct online sales by suppliers, and editorial publishing. Read TaxNewsFlash
China: The policy allowing cosmetics, pharmaceutical, and non-alcoholic beverage manufacturers to deduct up to 30% of turnover for advertising and promotional expenses through has been extended through December 31, 2027. The extension, effective January 1, 2026, also permits cost contribution arrangements to allocate deductions within the 30% limit. Read TaxNewsFlash

United States

Notice 2026-9: Amendment deadline for IRAs extended to December 31, 2027
National Taxpayer Advocate report to Congress identifying taxpayer problems
KPMG article: AI reshapes software R&D tax credits, eligibility landscape
Delaware: Mailing dates announced for unclaimed property voluntary disclosure agreement (VDA) program

Read TaxNewsFlash-United States

Transfer Pricing

Bahamas: Registration for domestic minimum top-up tax (DMTT) begins early 2026
Bahrain: Domestic minimum top-up tax (DMTT) annual return now available
Croatia: Implementation of DAC8 and DAC9 requirements
Cyprus: Increased Local file thresholds for 2026
France: Multiple reporting exemption regarding public CbC transposed into law
France: User guide for GloBE information return (GIR)
Germany: Amendments to Pillar Two rules, DAC9, and DAC8 legislation enacted; other tax developments
Latvia: New requirements for controlled transactions report
Sweden: Further amendments to Pillar Two legislation

Read TaxNewsFlash-Transfer Pricing

FATCA / IGA / CRS

Canada: Updated CRS guidance
Cayman Islands: Quick guide on CRS 2.0
Channel Islands: Updated guidance on implementation of CRS 2.0 (Guernsey)
Hong Kong: Public consultation on proposed implementation of CARF and CRS 2.0
Isle of Man: Industry Advisory Notice on CARF
Oman: Amendments to AEOI rules
United States: FATCA responsible officer certifications due July 1, 2026

Read TaxNewsFlash-FATCA / IGA / CRS

Trade & Customs

EU and India conclude negotiations for free trade agreement
United States signs reciprocal trade agreements with Guatemala and El Salvador
U.S. CBP issues withhold release order (WRO) against Mexican coffee farm
U.S. tariff system targeting oil trade with Cuba
WTO finds U.S. energy tax credits under Inflation Reduction Act violate trade agreements

Read TradeNewsFlash-Trade & Customs

Africa

Nigeria: Share-purchase agreements are subject to stamp duties

Read TaxNewsFlash-Africa

Americas

Antigua and Barbuda: 2026 budget includes no new taxes
Argentina: Advance ruling procedures for imports and exports
Bahamas: Registration for domestic minimum top-up tax (DMTT) begins early 2026
Canada: Mutual fund trailing commissions subject to GST/HST beginning July 1, 2026
Canada: Updated guidance on excessive interest and financing expenses limitation (EIFEL) rules
Chile: Nonresident shareholders may not request refunds of excess withholding taxes through foreign securities depository or custodian; other tax developments
Colombia: Support document for acquisitions from non-invoice issuers (DSNO) may be issued in subsequent tax period
Dominican Republic: Large taxpayers required to adopt electronic invoicing
Grenada: 2026 budget maintains VAT relief
Guyana: Tax measures in 2026 budget
Saint Kitts and Nevis: No new taxes in 2026 budget

Read TaxNewsFlash-Americas

Asia Pacific

Bahrain: Domestic minimum top-up tax (DMTT) annual return now available
China: Deductions for advertising and promotional expenses extended until December 31, 2027
Hong Kong: Public consultation on proposed implementation of CARF and CRS 2.0
India: Tax-related tribunal and court decisions
Indonesia: Tax treaty application procedures
Malaysia: Guidance on implementation of special voluntary disclosure programme for stamp duty
Malaysia: New incentive framework
Malaysia: Revised e-invoicing guidelines
Malaysia: Updated and expanded service tax exemptions for rental and leasing services
Philippines: Resumption of tax audit and field operations
Sri Lanka: Amended tax incentives and exemptions (Colombo Port City)
Taiwan: Accumulated losses recorded prior to 2023 may not be deducted when calculating CFC investment income
Taiwan: Commodity tax exemption for electric vehicles extended until 2030

Read TaxNewsFlash-Asia Pacific

Europe

Bosnia and Herzegovina: New excise duty rates on manufactured tobacco
Croatia: Implementation of DAC8 and DAC9 requirements
Croatia: Parliament approves amendments to Corporate Income Tax Act, General Tax Act
Croatia: Tax treaty with Australia signed, protocol to treaty with Switzerland ratified
Cyprus: Increased Local file thresholds for 2026
France: Multiple reporting exemption regarding public CbC transposed into law
France: User guide for GloBE information return (GIR)
France: VAT provisions recodified into Goods and Services Tax Code (CIBS)
Germany: Amendments to Pillar Two rules, DAC9, and DAC8 legislation enacted; other tax developments
Germany: Protocols to tax treaties with Netherlands, Switzerland enter into force
Greece: Guidance on VAT rate reduction for eligible islands
Italy: Tax measures in 2026 Budget Law
Latvia: New requirements for controlled transactions report
Poland: Proposed digital services tax
Serbia: VAT refund for 2025 to foreign taxpayers
Slovakia: Draft amendment to VAT law
Sweden: Further amendments to Pillar Two legislation
Sweden: New VAT deduction rules proposed for mixed activities
Sweden: Proposed dividend withholding tax exemption for foreign states
Sweden: Proposed tax increase on certain tobacco products

Read TaxNewsFlash-Europe

Other publications

The items described above are also reported as editions of TaxNewsFlash:

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