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KPMG Week in Tax: June 8 – 12, 2026

Recent tax developments from around the globe for the week of June 8 – 12, 2026

June 15, 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).

  • Dominican Republic: The General Agency for Internal Taxes (DGII) has automatically extended the e-invoicing deadline for small, micro, and unclassified taxpayers by six months (from May 15, 2026). Read TaxNewsFlash
  • Philippines: The Bureau of Internal Revenue issued guidance clarifying the administrative, registration, and compliance requirements for the newly implemented VAT on digital services. The circular outlines specific rules for nonresident providers, cross-border cost-sharing arrangements, B2B reverse-charge mechanisms, and e-marketplaces for proper VAT reporting and remittance. Read TaxNewsFlash
  • Spain: The Ministry of Finance approved the 2025 corporate and nonresident income tax return forms, updating them to reflect recent legislative changes such as adjusted capitalization reserves and reduced tax rates for qualifying companies. Calendar-year entities must file the mandatory electronic returns between July 1 and July 27, 2026. Read TaxNewsFlash
  • United States: A federal district court vacated IRS Notice 2025-42, which had eliminated the "five percent safe harbor" for wind and large-scale solar projects, deciding the notice was arbitrary and capricious. However, Treasury may pursue a stay pending further litigation, potentially limiting taxpayers' ability to rely on this decision before the July 4, 2026, construction deadline. Read TaxNewsFlash

United States

  • Notice 2026-39: Guidance for energy community bonus credit under sections 45, 45Y, 48, and 48E
  • Treasury previews proposed regulations implementing individual tax credit for qualifying contributions to scholarship granting organizations under section 25F
  • Federal district court vacates Notice 2025-42, which eliminated five percent safe harbor for establishing beginning of construction for wind and solar projects
  • Illinois: FY 2027 budget includes variety of tax measures
  • KPMG article: OBBBA restores R&E expensing, alters multinational tax strategy

Read TaxNewsFlash-United States

  • President Trump signs into law reconciliation package funding immigration enforcement, includes no tax

Read TaxNewsFlash-Legislative Updates

Transfer Pricing

  • Belgium: Pillar Two compliance guidance
  • OECD: Guidance on use of GIR XML Schema and validation rules for first GIR filings and exchanges
  • UK: Document production required as part of transfer pricing inquiry; scope of “personal goodwill”; field was not “mixed use” property for stamp duty purposes (First-tier Tribunal decisions)
  • Vietnam: Summary of recent direct and indirect tax developments, including clarification on eligible payroll costs for substance-based income exclusion calculation under QDMTT

Read TaxNewsFlash-Transfer Pricing

FATCA / CRS / CARF

  • Germany: FATCA newsletter outlines XML reporting, technical interface migration, and form storage issues
  • Hong Kong: Draft legislation to implement CARF and amend CRS

Read TaxNewsFlash-FATCA / CRS / CARF

Africa

  • Mauritius: Actual and presumed foreign tax may be aggregated under pooling method (Supreme Court decision)

Read TaxNewsFlash-Africa

Americas

  • Dominican Republic: Extension of e-invoicing deadline and updated license lists for alcohol and tobacco
  • Panama: New economic substance law for foreign-source passive income

Read TaxNewsFlash-Americas

Asia Pacific

  • Australia: 2026 budget includes elimination of stamp duty for first home buyers, eligible pensioners (Australian Capital Territory)
  • Australia: Guidance on evidencing income tax treaty residency in arrangements involving fiscally transparent entities
  • Australia: High Court dismisses ATO’s appeal of recent Full Federal Court Division 7A decision
  • Australia: Transfer of shares within corporate group not entitled to corporate reconstruction stamp duty relief (Queensland Court of Appeal decision)
  • Hong Kong: Draft legislation to enhance family office tax regime
  • India: Global procurement services from foreign group entity were not intermediary services for GST purposes (tribunal decision)
  • India: Reimbursements to U.S. company for online advertising expenses not subject to equalization levy (High Court decision)
  • Kazakhstan: List of goods eligible for VAT exemption when imported by Astana Hub participants
  • Malaysia: Income tax treaty with Russia enters into force; other tax developments (June 2026)
  • Pakistan: Tax developments include PIACL default surcharge exemption, revised property valuation tables, and reduced ride-hailing sales tax
  • Philippines: Guidance clarifying VAT on digital services
  • Sri Lanka: Tax amendments, including capital gains tax changes, enacted
  • Vietnam: Summary of recent direct and indirect tax developments, including clarification on eligible payroll costs for substance-based income exclusion calculation under QDMTT

Read TaxNewsFlash-Asia Pacific

Europe

  • Belgium: Pillar Two compliance guidance
  • EU: Legislation and guidance on fixed €3 customs duty for e-commerce
  • Italy: Taxing dividends paid to nonresident non-commercial entities (NCEs) less favorably than dividends paid to resident NCEs violates EU law (Supreme Court decision)
  • Poland: Bill introducing VAT warehouse regime, altering purchase joint/several liability rules adopted by Council of Ministers; other tax developments
  • Portugal: Temporary reduction in excise duties on fuels
  • Slovenia: Clarification of tax treatment of disposal of impaired financial instruments
  • Spain: Corporate income tax and nonresident income tax return forms for 2025
  • UK: Document production required as part of transfer pricing inquiry; scope of “personal goodwill”; field was not “mixed use” property for stamp duty purposes (First-tier Tribunal decisions)
  • UK: Guidance on amended anti-avoidance rule for share exchanges and company reconstruction
  • UK: Manuals for advance tax certainty service (ATCS), mandatory tax adviser registration

Read TaxNewsFlash-Europe

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