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KPMG Week in Tax: June 22 – 26, 2026

Recent tax developments from around the globe for the week of June 22 – 26, 2026

June 29, 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).

  • Belgium: The tax authorities announced the opening of the GloBE information return (GIR) submission portal on MyMinfin on June 29, 2026. This launch comes only two days before the unchanged June 30, 2026, deadline, leaving approximately two days for timely filing. Read TaxNewsFlash
  • East Africa: Rwanda, Uganda, and Tanzania have introduced their FY 2026/2027 budgets with a shared focus on broadening tax bases, modernizing tax administration, and enhancing revenue collection. Key measures across the region include increased digital services and withholding taxes, expanded use of electronic billing and AI enforcement, alongside various VAT and customs adjustments. Read TaxNewsFlash
  • Malaysia: The Ministry of Finance extended the stamp duty voluntary disclosure program to December 31, 2026, offering businesses an extra six months to perform comprehensive reviews. Eligible unstamped instruments executed between January 1, 2023, and December 31, 2026, will qualify for a 100% waiver of late stamping penalties. Read TaxNewsFlash

United States

  • National Taxpayer Advocate mid-year report to Congress
  • Notice of two substances added to Superfund list
  • Trump nominates James Gadwood as IRS Chief Counsel
  • U.S. Supreme Court: "Just compensation" from tax sale is auction sale price, not fair market value
  • KPMG article: IRS acceptance standards for advance pricing agreements (APAs)
  • KPMG article: Recent developments concerning section 41 research credit

Read TaxNewsFlash-United States

Transfer Pricing

  • Belgium: GIR portal opens June 29, 2026
  • Belgium: Guidance on DTT and IIR return templates; FAQ on filing of DTT return and general representative
  • Czech Republic: Formal filing framework for Pillar Two returns and submissions
  • EU: Tax simplification package adopted by European Commission
  • Germany: Draft circular on concept of permanent establishment (PE)
  • Netherlands: Updated Pillar Two Q&A
  • Poland: Reduced VAT on fuels extended to June 30; opinion of top-up taxation council; other tax developments
  • Portugal: Extension of GIR filing deadline
  • UK: Consultation on international controlled transactions schedule (ICTS)
  • UK: Updated guidance on profit diversion compliance facility
  • United States: IRS acceptance standards for advance pricing agreements (APAs) 

Read TaxNewsFlash-Transfer Pricing

FATCA / CRS / CARF

  • Belgium: MyMinfin portal open for FATCA reporting
  • Cayman Islands: Industry advisory on CRS filing deadline, portal closure, and transition to XML schema v3.0
  • Saint Lucia: Updated CRS 2.0 guidance
  • UAE: Updated FATCA and CRS system FAQs

Read TaxNewsFlash-FATCA / CRS / CARF

Trade & Customs

  • United States and Uzbekistan agree to early trade commitments
  • U.S. CBP indefinitely suspends de minimis exemption for all modes of importation; new postal entry procedures
  • U.S. CBP issues withhold release orders on garment imports from Jordan
  • USTR initiates investigation into Germany's underpayment for innovative pharmaceutical products

Read TradeNewsFlash-Trade & Customs

Africa

  • Rwanda: Tax and customs measures in 2026/2027 budget
  • Rwanda: VAT on nonresident online sellers of goods and services introduced
  • South Africa: Fuel levy relief extended to June 2026
  • Tanzania: Tax measures in 2026/2027 budget
  • Uganda: Tax amendments based on 2026/2027 budget passed by Parliament

Read TaxNewsFlash-Africa

Americas

  • Central America and the Caribbean: Tax developments in Costa Rica, Panama, Dominican Republic, and Honduras

Read TaxNewsFlash-Americas

Asia Pacific

  • Australia: Foreign surcharge duty relief for build-to-rent and retirement villages (New South Wales)
  • Australia: Guide on taxation of permanent establishments (PEs)
  • Australia: Legislation amending capital gains tax and introduce new tax reform measures passes Parliament, with amendments
  • Australia: Proposed legislation to implement loss carry back and make permanent small business instant asset write-off
  • Australia: Senate committee report on legislation amending capital gains tax; proposed one-month extension of reduced fuel excise
  • Australia: Tax measures in budget 2026-2027 (Queensland)
  • India: Taxability determined separately for each partner, based on applicable treaty (tribunal decision)
  • Kuwait: Approval of accession to MLI
  • Malaysia: Extension of special voluntary disclosure programme for stamp duty
  • Malaysia: Service tax policy on constructions works
  • Sri Lanka: Guidelines for withholding agents on withholding tax and advance income tax
  • Taiwan: Guidance on reporting CFC losses
  • Vietnam: Law on e-commerce 2025 effective July 1, 2026

Read TaxNewsFlash-Asia Pacific

Europe

  • Belgium: GIR portal opens June 29, 2026
  • Belgium: Guidance on DTT and IIR return templates; FAQ on filing of DTT return and general representative
  • Czech Republic: Draft legislation implementing first stage of ViDA package
  • Czech Republic: Formal filing framework for Pillar Two returns and submissions
  • EU: EC opens infringement procedure against Poland over incorrect transposition of DAC7
  • EU: ECOFIN Council approves biannual report on tax issues
  • EU: Tax simplification package adopted by European Commission
  • Germany: Draft circular on concept of permanent establishment (PE)
  • Greece: Foreign tax credit prioritized over domestic prepaid tax deductions (Council of State decision)
  • Italy: Disposal of Luxembourg holding company not subject to Italian capital gains tax (Milan tax court decision)
  • Netherlands: Taxpayers who did not object to Box 3 (“wealth tax”) assessments within statutory period not entitled to relief (Supreme Court decision)
  • Netherlands: Updated Pillar Two Q&A
  • Norway: Mandatory digital bookkeeping and e-invoicing requirements enacted
  • Poland: Reduced VAT on fuels extended to June 30; opinion of top-up taxation council; other tax developments
  • Portugal: Extension of GIR filing deadline
  • Slovakia: Draft legislation to adopt measures from ViDA package, introduce changes to mandatory e-invoicing and digital data reporting, prevent abuse of VAT system
  • UK: Consultation on expansion of marketplace rules to sales of goods by domestic sellers
  • UK: Consultation on international controlled transactions schedule (ICTS)
  • UK: HMRC package of tax and customs measures aimed at simplification, modernization, and fairness
  • UK: Updated guidance on profit diversion compliance facility
  • Ukraine: Digital platform reporting and withholding rules adopted
  • Ukraine: New income tax treaty with Germany signed

Read TaxNewsFlash-Europe

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