KPMG Week in Tax: March 2 – 6, 2026

Recent tax developments from around the globe for the week of March 2 – 6, 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 U.S. Court of International Trade has ordered CBP to liquidate or reliquidate entries that are not final without regard to duties imposed under IEEPA, confirming that all importers whose entries were subject to those duties are entitled to the benefit of the U.S. Supreme Court’s Learning Resources decision. The court also affirmed its exclusive jurisdiction over IEEPA duty refund claims and indicated that a single judge will hear all such cases, ensuring consistent outcomes. Read TaxNewsFlash
Australia: The Australian Taxation Office has finalized the approved form and instructions for the public country-by-country (CbC) tax reporting regime, applicable to in-scope parent entities for periods starting on or after 1 July 2024. The disclosures, based on GRI 207: Tax 2019 and required to reconcile to audited consolidated financial statements, are distinct from existing (non-public) CbC filings, meaning some groups will need to comply with both regimes. Read TaxNewsFlash
EU: The CJEU has confirmed that in-game “gold” used only within a video game is neither VAT‑exempt virtual currency nor a voucher, but a taxable digital service. As a result, VAT is due on the full amount paid for in‑game gold (not just the margin), with implications for platforms and intermediaries monetizing in‑game currencies in the EU. Read TaxNewsFlash

United States

Proposed regulations: Electronic furnishing of payee statements regarding digital asset sales by brokers
Proposed regulations: Removal of final regulations identifying certain partnership basis shifting transactions as transactions of interest
Proposed regulations: Guidance regarding “Trump accounts” and contribution pilot program
Rev. Proc. 2026-15: Automobile depreciation deduction limits for 2026
U.S. Tax Court: Basis in promissory note issued to disregarded entity and contributed to partnership was zero
U.S. Trade Court orders refund and removal of IEEPA duties for importers following U.S. Supreme Court decision
Waiver of time requirements for individuals electing to exclude foreign earned income because of adverse conditions
Electronic filing requirement for Form 1042 for tax year 2025
KPMG report: Accounting method implications of Learning Resources
KPMG report: Biomass under sections 45Y and 48E

Read TaxNewsFlash-United States

IRS revises Form 8976 submission process; electronic filing required through Pay.gov

Read TaxNewsFlash-Exempt Organizations

Transfer Pricing

Australia: Amendments to global minimum tax rules in line with GloBE rules
Australia: Consultation on additional draft amendments to Pillar Two rules; recent administrative guidance on Pillar Two
Australia: Finalized public country-by-country (CbC) reporting filing instructions, updated guidance
Germany: Updated guidance on mutual agreement and arbitration procedures
Korea: Domestic minimum top-up tax enacted
Malta: Exemption for local group members from filing GIR and related notifications
Netherlands: Expanded mandate of transfer pricing coordination group
OECD: Amount B pricing FAQs, updated Amount B pricing automation tool
Qatar: Pillar Two resolution provides rules for applying DMTT and IIR
Slovenia: Pillar Two tax returns published

Read TaxNewsFlash-Transfer Pricing

FATCA / IGA / CRS

France: Updated CRS guidance
Germany: Updated CRS guidance
Malta: New self-compliance questionnaire for FATCA and CRS compliance monitoring
South Africa: Business requirement specifications for FATCA, CRS, and CARF
United States: Electronic filing requirement for Form 1042 for tax year 2025

Read TaxNewsFlash-FATCA / IGA / CRS

Trade & Customs

KPMG report: Accounting method implications of Learning Resources
U.S. Trade Court orders refund and removal of IEEPA duties for importers following U.S. Supreme Court decision
USTR presents President Trump’s 2026 trade policy agenda to Congress

Read TradeNewsFlash-Trade & Customs

Africa

South Africa: Tax provisions in 2026/2027 budget
South Africa: Interest deductibility on loans used to redeem preference shares

Read TaxNewsFlash-Africa

Americas

Canada: Tax measures in 2026 budget (Alberta)
El Salvador: Tax incentives for investment expansion

Read TaxNewsFlash-Americas

Asia Pacific

Australia: Amendments to global minimum tax rules in line with GloBE rules
Australia: Consultation on additional draft amendments to Pillar Two rules; recent administrative guidance on Pillar Two
Australia: Finalized public country-by-country (CbC) reporting filing instructions, updated guidance
Australia: Related-party payments not deductible because no legally enforceable contract (Full Federal Court decision)
Azerbaijan: Mandatory VAT obligations for nonresident electronic service providers
Korea: Domestic minimum top-up tax enacted
Kuwait: Tax guide 2026
Qatar: Pillar Two resolution provides rules for applying DMTT and IIR

Read TaxNewsFlash-Asia Pacific

Europe

Cyprus: Amendments to VAT law relating to real property
EU: CJEU confirms sale of in-game “gold” subject to VAT
EU: Prior Belgian CFC rules incompatible with ATAD (CJEU judgment)
Germany: Reduction in VAT base for pharmaceutical manufacturer discounts; other VAT developments
Germany: Updated guidance on mutual agreement and arbitration procedures
Iceland: Income tax treaty with Saudi Arabia enters into force
Luxembourg: New carried interest tax regime enacted
Malta: Exemption for local group members from filing GIR and related notifications
Netherlands: Bill adopting DAC8 approved by lower house of Parliament
Netherlands: Consultation on changes to participation exemption and currency gains and losses on hedging instruments
Netherlands: Expanded mandate of transfer pricing coordination group
Netherlands: Royalty withholding exemption denied due to lack of beneficial ownership (Supreme Court decision)
Poland: Application of Estonian CIT regime; taxation of gain from real estate as income from non-agricultural business activity (Supreme Administrative Court decisions)
Romania: New R&D tax credit
Slovenia: Pillar Two tax returns published
Spain: Dutch holding company did not meet beneficial ownership test under EU interest and royalties directive (Supreme Court decision)
UK: Deductibility of unamortized issue and discount costs; qualification as partnership for purposes of land transaction tax partnership relief rules (court decisions)

Read TaxNewsFlash-Europe

Other publications

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

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