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KPMG Week in Tax: August 3 – 7, 2026

Recent tax developments from around the globe for the week of August 3 – 7, 2026

August 10, 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. Tax ourt held that that a partnership was ineligible for qualified dividend income treatment under sections 1(h)(11)(B)(iii)(l) and 246(c) and corresponding foreign tax credits because its holding period in Swiss equities was reduced under the anti-abuse rule of Treas. Reg. § 1.246-5(c)(1)(vi). Read TaxNewsFlash
  • United States: President Trump signed a proclamation establishing minimum import prices, additional duties, and onshoring incentives following a U.S. Department of Commerce investigation under Section 232 of the Trade Expansion Act of 1962 which concluded that imports of polysilicon and its derivative products threaten to impair U.S. national security. Read TradeNewsFlash
  • UAE: The UAE Federal Tax Authority issued Decision No. 12 of 2026 setting out registration, deregistration, and notification timelines for UAE entities within the scope of the domestic minimum top-up tax (DMTT) introduced under Cabinet Decision No. 142 of 2024. Read TaxNewsFlash

United States

  • Final regulations: Backup withholding on third party network transactions
  • Notice 2026-48: Intent to issue proposed regulations under section 6433 providing guidance on Saver’s Match contributions
  • U.S. Treasury release: No change to list of countries cooperating with international boycott
  • U.S. Tax Court: Qualified dividend income treatment and FTCs denied under section 246(c) anti-abuse rule
  • IRS updates FAQs on qualified overtime compensation deduction under OBBBA
  • U.S. Tax Court: Filing deadline under section 6234(a) held nonjurisdictional in BBA partnership case
  • Announcement 2026-15: Fourth remedial amendment cycle for defined contribution pre-approved plans
  • Notice 2026-28: Guidance on employer credit for paid family and medical leave under section 45S

Read TaxNewsFlash-United States

Transfer Pricing

  • Barbados: Guidance on top-up tax regime and GIR return filings
  • Burkina Faso: Suspension of CbC reporting obligations for certain entities
  • France: Public country-by-country (CbC) reporting requirements
  • Türkiye: Pillar Two jurisdiction lists
  • UAE: Guidance on registration requirements and notification timelines for domestic minimum top-up tax

Read TaxNewsFlash-Transfer Pricing

FATCA / CRS / CARF

  • Anguilla: Press release on CRS amendment regulations and “wider approach”
  • France: Technical guidance for cryptoasset reporting and DAC8 frameworks
  • India: Guidance on implementation of cryptoasset reporting framework (CARF)
  • Germany: Updated FATCA guidance on filing functionality and technical issues
  • Panama: Ownership threshold for controlling persons reduced under FATCA and CRS

Read TaxNewsFlash-FATCA / CRS / CARF

Trade & Customs

  • Hungary: Proposed legislation to implement EU Recovery and Resilience Facility submitted to Parliament
  • UK: Government confirms repeal of low-value import relief
  • United States: BIS restricts exports of black mass and tungsten waste and scrap under Defense Production Act authorities
  • United States: BIS seeks comments on proposed implementation of Section 232 tariffs on additional aluminum, steel, and copper derivative articles
  • United States: Minimum import prices, duties, and investment incentives adopted for polysilicon (solar) sector
  • United States: Safeguard tariff-rate quota imposed on imports of quartz surface products
  • Vietnam: Guidance on implementation of the foreign trade management law

Read TradeNewsFlash-Trade & Customs

Africa

  • Angola: Draft legislation providing additional tax incentives and granting mining rights for certain concession areas
  • Benin: New VAT rules and withholding obligation for digital platforms
  • Burkina Faso: Suspension of CbC reporting obligations for certain entities

Read TaxNewsFlash-Africa

Americas

  • Barbados: Guidance on top-up tax regime and GIR return filings
  • Brazil: Nonresident businesses likely subject to mandatory NF-e issuance from December 1, 2026, under IBS/CBS e-invoicing implementation calendar
  • Brazil: Publication of IBS/CBS e-invoicing implementation calendar under consumption tax reform
  • Central America and the Caribbean: Legislative, administrative, and judicial tax developments (June 2026)
  • Saint Vincent and the Grenadines: Credit protection insurance premium payments to related reinsurer subject to withholding tax (Privy Council decision)

Read TaxNewsFlash-Americas

Asia Pacific

  • Australia: Consultation on second tranche of capital gains tax, negative gearing reforms legislation
  • Australia: Guidance on income tax, GST treatment of compensation paid to landholders in connection with renewable energy projects
  • Bahrain: Income tax treaty with Jersey enters into force
  • Bahrain: Updated VAT registration, excise registration, and general VAT guides
  • India: Proposed tax amendments in response to global economic conditions and supply-chain disruptions
  • Pakistan: Special income tax procedure for small retailers; other direct and indirect tax developments
  • Philippines: Guidance on enhanced deductions regime
  • Türkiye: Pillar Two jurisdiction lists
  • UAE: Binding VAT directives on tax transactions
  • UAE: Guidance on registration requirements and notification timelines for domestic minimum top-up tax

Read TaxNewsFlash-Asia Pacific

Europe

  • Finland: Amendments to residency rules for certain foreign funds
  • Finland: Law aligning real estate and income taxation of offshore windmills with onshore windmills, introducing exclusive economic zone
  • Finland: Public consultation on proposed amendments to VAT adjustment rules for real estate transfers
  • France: Public country-by-country (CbC) reporting requirements
  • Georgia: Guidance on tax treatment of capital contributions and capital reductions\
  • Germany: Requiring 100% ownership for VAT grouping incompatible with EU law (General Court decision); other VAT developments
  • Hungary: Proposed legislation to implement EU Recovery and Resilience Facility submitted to Parliament
  • Luxembourg: Draft law expanding scope of mandatory e-invoicing
  • Monaco: Income tax treaty with UAE enters into force
  • Netherlands: Classification of certain foreign legal entities
  • Netherlands: Foreign digital services tax modeled on EU proposal is deductible
  • Netherlands: License fees for images, trade names, and logos treated as royalties under Australia income tax treaty
  • Poland: Proposed windfall profits tax on liquid fuels referred to Constitutional Tribunal; other tax developments
  • Türkiye: Pillar Two jurisdiction lists
  • UK: Business rates relief for pubs, clubs, and live music venues; empty property mitigation arrangement ineffective in obtaining property tax relief (Court of Appeal decision)

Read TaxNewsFlash-Europe

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