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KPMG Week in Tax: March 23 – 27, 2026

Recent tax developments from around the globe for the week of March 23 – 27, 2026

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March 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 invited stakeholders to submit, by May 29, 2026, recommendations for the 2026–2027 Priority Guidance Plan. This plan will set the IRS and Treasury’s main regulatory and guidance priorities for July 1, 2026, through June 30, 2027. Read TaxNewsFlash
  • India: The lower house of Parliament has passed the Finance Bill, 2026, with direct tax changes including recharacterizing share buybacks as capital gains (from April 1, 2026), doubling the tax holiday period for offshore banking units to 20 years, and revising rules on tax interest, assessments, and refunds. The bill is still awaiting upper house approval and presidential assent. Read TaxNewsFlash
  • Australia: The Department of the Treasury has registered legislation making administrative changes to the domestic minimum tax regime, including how top‑up tax applies to stateless and hybrid entities, how amounts are allocated within tax consolidated groups, and how foreign‑currency top‑up tax is converted to AUD. Read TaxNewsFlash
  • Belgium: The tax authorities released updated domestic top‑up tax (DTT) return and related technical schema. The return is still in draft form and can only be considered final once it has been published in the official gazette. The first filing deadline for the DTT return is June 30, 2026. Read TaxNewsFlash

United States

  • Notice 2026-23: Request for recommendations for IRS 2026-2027 Priority Guidance Plan
  • KPMG article: Social security and Medicare challenges and opportunities for academic institutions and churches

Read TaxNewsFlash-United States

  • House Ways and Means approves five tax relief and tax administration bills; JCT descriptions

Read TaxNewsFlash-Legislative Updates

Transfer Pricing

  • Australia: Administrative amendments to domestic minimum tax provisions
  • Australia: Updated list of jurisdictions with qualifying taxes under Pillar Two rules
  • Belgium: New draft domestic top-up tax return published for information purposes only
  • Belgium: Summary of recent tax developments
  • Belgium: Taxpayer properly included arm’s length intercompany royalties in computing innovation income deduction (court decision)
  • Czech Republic: Subsidiary deemed to be contract manufacturer of foreign parent company (Supreme Administrative Court decision)
  • Hong Kong: Tax issues discussed in 2025 annual meeting between tax authority and accountants’ group
  • India: Transfer pricing changes in final Income-tax Rules, 2026
  • Slovakia: Overview of top-up tax obligations for large groups under Pillar Two

Read TaxNewsFlash-Transfer Pricing

FATCA / IGA / CRS

  • Channel Islands: Updated FATCA and CRS guidance (Guernsey)
  • Germany: Updated FATCA guidance
  • South Africa: Implementation of cryptoasset reporting framework (CARF)

Read TaxNewsFlash-FATCA / IGA / CRS

Trade & Customs

  • Vietnam: Guidance on import license requirements for chemicals requiring special control
  • Australia and EU finalize free trade agreement
  • United States: BIS announces April 2026 inclusions window for Section 232 automobile parts tariff inclusions process

Read TradeNewsFlash-Trade & Customs

Africa

  • Africa: Gabon Finance Law 2026 includes mandatory e-invoicing; other recent tax developments

Read TaxNewsFlash-Africa

Americas

  • Brazil: New alphanumeric format for taxpayer registry
  • Canada: Provincial sales tax (PST) on professional services starts October 1 (British Columbia)
  • Canada: Tax measures in 2026 provincial budgets (Manitoba, Ontario, and Quebec)
  • Costa Rica: Updated rules for informational return for transactions not supported by e-invoice
  • KPMG report: Shipping and offshore tax update (March 2026)
  • Mexico: List of 277 registered foreign providers of digital services (as of February 28, 2026)
  • Mexico: Taxpayer entitled to interest on tax found unlawful only if judgment includes express order to refund (Supreme Court decision)

Read TaxNewsFlash-Americas

Asia Pacific

  • Australia: Administrative amendments to domestic minimum tax provisions
  • Australia: Amendments to exclude tobacco, gambling from R&D tax incentive introduced to Parliament
  • Australia: Consultation guide for Board of Taxation’s review of thin capitalization amendments
  • Australia: Guidance on application of thin capitalization rules to Australian branches of foreign banks
  • Australia: Termination of taxpayer’s gaming licenses did not result in deductible loss under TOFA rules (Full Federal Court decision)
  • Australia: Updated list of jurisdictions with qualifying taxes under Pillar Two rules
  • Bahrain: Overview of draft law introducing 10% corporate income tax
  • Hong Kong: Tax issues discussed in 2025 annual meeting between tax authority and accountants’ group
  • India: FAQs on transition to Income-tax Act 2025
  • India: Finance Bill, 2026 passed by lower house of Parliament with direct tax amendments
  • India: No goodwill created in related-party amalgamation (tribunal decision)
  • India: Thin capitalization rules violated non-discrimination clause under Denmark treaty (tribunal decision)
  • India: Transfer pricing changes in final Income-tax Rules, 2026
  • KPMG report: Shipping and offshore tax update (March 2026)
  • Philippines: Guidance concerning tax audits, electronic letters of authority, and annual income tax returns
  • Türkiye: Pilot for electronic VAT returns expanded to additional provinces
  • Türkiye: Reintroduction of fuel price stabilization mechanism for special consumption tax on certain petroleum products

Read TaxNewsFlash-Asia Pacific

Europe

  • Belgium: New draft domestic top-up tax return published for information purposes only
  • Belgium: Summary of recent tax developments
  • Belgium: Taxpayer properly included arm’s length intercompany royalties in computing innovation income deduction (court decision)
  • Cyprus: VAT and excise duty relief measures for electricity, motor fuels, and food
  • Czech Republic: Subsidiary deemed to be contract manufacturer of foreign parent company (Supreme Administrative Court decision)
  • Denmark: Danish Business Authorities latest work and 2026 agenda for digital bookkeeping and e-invoicing
  • Germany: Failure to tax deemed capital gain on “hidden contribution” not a reduction in shareholder’s income; other tax developments
  • Germany: Requirements for performance of profit transfer agreement in a tax group (Federal Fiscal Court decision)
  • KPMG report: Shipping and offshore tax update (March 2026)
  • Montenegro: Amendments to VAT law enacted by parliament
  • Poland: Revised bills amending PIT and CIT Acts; other tax developments
  • Slovakia: New withholding tax rules for software payments
  • Slovakia: Overview of top-up tax obligations for large groups under Pillar Two
  • Spain: Council of Ministers approves e-invoicing mandate for B2B transactions

Read TaxNewsFlash-Europe

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