Skip to main content

KPMG Week in Tax: March 30 – April 3, 2026

Recent tax developments from around the globe for the week of March 30 – April 3, 2026

Share
April 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: Section 232 tariffs on imported steel, aluminum, and copper products will now apply to the full customs value of the article, regardless of the metal content in the imported article. In addition, President Trump signed an executive order imposing a 100% tariff under Section 232 on patented pharmaceuticals and their ingredients, subject to various exceptions. Read TradeNewsFlash
  • Japan: The 2026 tax reform introduces corporate incentives for strategic domestic production, research and development (R&D), and wage growth, while also formally implementing the global minimum tax rules for multinational corporations. The reform also includes consumption tax and individual tax measures. Read TaxNewsFlash
  • Canada: Bill C-15 received Royal Assent, enacting new tax measures into law. The legislation introduces new transfer pricing rules and documentation requirements and repeals the Digital Services Tax Act. It also includes enhancements to the scientific research and experimental development (SR&ED) program, changes to clean economy investment tax credits, and provisions for accelerated capital cost allowances for certain assets. Read TaxNewsFlash

United States

  • Announcement 2026-8: U.S. APMA program, APA statistics for 2025
  • Treasury and IRS announce automatic tax filing extension for DHS personnel
  • Texas: Proposed amendments to franchise tax rule on cost of goods sold (COGS)
  • U.S. Treasury release: No change to list of countries cooperating with international boycott
  • KPMG article: Taxation of artificial intelligence (AI) under existing rules, challenges of alternative proposals
  • KPMG report: Relief for prior interest limitation and depreciation elections

Read TaxNewsFlash-United States

Legislative Updates

  • Trump Administration proposed budget for FY 2027 

Read TaxNewsFlash-Legislative Updates

Exempt Organizations

  • Federal court rejects deal that would allow churches to engage in political speech without losing tax-exempt status

Read TaxNewsFlash-Exempt Organizations

Cooperatives

  • Notice 2026-24: Relief from addition to tax for underpayment of estimated income tax for farmers and fishermen

Read TaxNewsFlash-Cooperatives

Transfer Pricing

  • Canada: 2025 budget tax measures, including new transfer pricing rules and repeal of DST, enacted
  • EU: EC issues formal notice letter to France regarding implementation of parent-subsidiary directive; state of play on implementation of DAC8 and DAC9
  • Finland: Amendments to Pillar Two rules enacted
  • Greece: Confirmation of application of Pillar Two safe harbors
  • Greece: Public consultation on draft legislation for DAC9 implementation
  • Ireland: Updated Pillar Two guidance
  • Japan: 2026 tax reform bills passed by National Diet
  • Japan: Administrative guidance on UTPR and QDMTT
  • Kuwait: Pillar Two rules include transfer pricing principles aligned with OECD Transfer Pricing Guidelines
  • United States: APMA program, APA statistics for 2025

Read TaxNewsFlash-Transfer Pricing

FATCA / IGA / CRS

  • Bahamas: FATCA and CRS reporting deadlines
  • Bermuda: Updated CRS independent compliance review guidelines
  • South Africa: FATCA and CRS third-party data submission period

Read TaxNewsFlash-FATCA / IGA / CRS

Trade & Customs

  • United States announces 100% Section 232 tariff on patented pharmaceuticals and their ingredients
  • United States announces new rules for calculating Section 232 tariffs on steel, aluminum, and copper imports
  • U.S. BIS renews temporary denial of export privileges for Russian airline
  • Agreement to reform EU Customs Code

Read TradeNewsFlash-Trade & Customs

Africa

  • Kenya: Asset management services not VAT exempt; expenses not allocable to exempt income (Tax Appeals Tribunal decisions)

Read TaxNewsFlash-Africa

Americas

  • Canada: 2025 budget tax measures, including new transfer pricing rules and repeal of DST, enacted
  • Costa Rica: Extension of validity of digital certifications for National Registry

Read TaxNewsFlash-Americas

Asia Pacific

  • Australia: Excise duty relief for fuels and draught beer
  • Australia: Taxation of property development arrangement (Full Federal Court decision)
  • India: Amendment clarifying GAAR grandfathering rules
  • India: Intra-group share buyback qualifies as reorganization under treaty (tribunal decision); other recent tax-related court decisions
  • India: New international tax reporting requirements
  • Japan: 2026 tax reform bills passed by National Diet
  • Japan: Administrative guidance on UTPR and QDMTT
  • Kuwait: Pillar Two rules include transfer pricing principles aligned with OECD Transfer Pricing Guidelines
  • Sri Lanka: Implementation of VAT on digital services by nonresidents postponed again
  • UAE: Introduction of R&D tax incentives

Read TaxNewsFlash-Asia Pacific

Europe

  • Belgium: New capital gains tax approved by Parliament
  • Belgium: VAT chain reform measures effective May 1, 2026
  • Cyprus: Amendments to VAT laws addressing real property
  • Cyprus: New anti-abuse decrees applicable to interest, dividends, and royalties
  • Czech Republic: Updated domestic list of non-cooperative jurisdictions regarding CFC rules
  • EU: EC issues formal notice letter to France regarding implementation of parent-subsidiary directive; state of play on implementation of DAC8 and DAC9
  • EU: Emissions Trading System (ETS) includes maritime emissions, phased in through 2027
  • EU: Stakeholder feedback on request for input on simplifying direct taxation rules
  • Finland: Amendments to Pillar Two rules enacted
  • Greece: Confirmation of application of Pillar Two safe harbors
  • Greece: Public consultation on draft legislation for DAC9 implementation
  • Ireland: Updated Pillar Two guidance
  • Poland: Legislation decreasing excise duty on fuel passed by lower house of Parliament; other tax developments
  • Poland: Updated national list of non-cooperative jurisdictions
  • Sweden: Final report on VAT in property leasing and transfers
  • UK: Consultation on reporting of “close” company transactions
  • UK: Consultation on stablecoin taxation
  • UK: Time limit for issuing “discovery” assessments must be based on individual errors (Upper Tribunal decision)

Read TaxNewsFlash-Europe

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.

KPMG. Make the Difference.


Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

© 2026 KPMG LLP, a Delaware limited liability partnership, and its subsidiaries are part of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.
All fields with an asterisk (*) are required.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's . Privacy Statement

An error occurred.

Job seekers

Visit our careers section or search our jobs database.

Search now!

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Submit

Office locations

View locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Learn more

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Contact

Headline