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KPMG Week in Tax: October 12 – 16, 2026

Recent tax developments from around the globe for the week of October 12 – 16, 2026

October 19, 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. Department of Energy (DOE) opened the emissions value request process for section 45Z, allowing transportation fuel producers with pathways not included in the lifecycle greenhouse gas emissions rate table to request an emissions value that may support a petition to Treasury for a provisional emissions rate. The credit applies to qualifying fuels produced after December 31, 2024, and sold before December 31, 2029. Read TaxNewsflash
  • France: The Finance Committee adopted several proposed 2027 Finance Bill measures, including a one-year extension of the exceptional corporate income tax surtax for the largest companies, changes affecting the global minimum tax, research tax credit, share buybacks, and certain investments. The proposals remain subject to further consideration by the National Assembly. Read TaxNewsflash
  • Kenya: Final regulations provide the detailed framework for Kenya’s minimum top-up tax, including computation rules, safe harbors, filing obligations, and transitional rules. The regulations generally follow the 2025 draft but include changes and clarifications, with OECD GloBE rules and administrative guidance available for interpretive purposes. Read TaxNewsflash
  • Malaysia: The 2027 budget proposes tax measures including a 1% corporate income tax rate reduction for micro, small, and medium enterprises (MSMEs) on the first RM600,000 of chargeable income and a reduction in the service tax rate on elderly care services from 8% to 6%. Other proposals would expand individual tax reliefs, modify incentives for Shariah-compliant fund management, and increase certain duty-free purchase limits. Read TaxNewsflash 

United States

  • DOE announces opening of emissions value request (EVR) process for section 45Z clean fuel production credit
  • Final regulations: Non-applicability of section 357(c)(3)(A) to consolidated groups
  • Final regulations: Payment of tax by commercially acceptable means
  • Proposed regulations: Implementation of changes to premium tax credit rules under section 36B made by OBBBA
  • IRS provides dyed diesel fuel excise tax relief following President Trump’s executive order
  • IRS provides tax relief for taxpayers affected by severe storms and flooding in four states
  • IRS provides tax relief for taxpayers in Alabama and Florida affected by Hurricane Isaias
  • IRS provides tax relief for taxpayers in New Mexico and Guam affected by natural disasters

Read TaxNewsFlash-United States

Transfer Pricing

  • Australia: Public CbC reporting deadline deferred to January 29, 2027
  • France: Certain proposed tax measures in 2027 Finance Bill adopted by Finance Committee, including change to Pillar Two threshold
  • Kenya: Final regulations under Pillar Two law
  • San Marino: Advance tax rulings and APAs for cross-border transactions

Read TaxNewsFlash-Transfer Pricing

FATCA / CRS / CARF

  • Australia: Consultation on draft cryptoasset tax transparency legislation
  • Bahamas: AEOI portal opening for FATCA and CRS reporting; updated CRS guidance

Read TaxNewsFlash-FATCA / CRS / CARF

Africa

  • Algeria: Draft 2027 Finance Bill proposes VAT collection by nonresident platforms and platform reporting requirements
  • Eswatini: Proposed VAT registration and compliance regime for nonresident electronic services providers
  • Kenya: Final regulations under Pillar Two law

Read TaxNewsFlash-Africa

Americas

  • Argentina: Provincial indirect tax developments
  • Dominican Republic: Exclusion from certain VAT withholding requirements for electronic issuers; other tax developments
  • Honduras: Reform of electricity sector, including tax incentive changes
  • Trinidad and Tobago: Tax measures in 2027 budget

Read TaxNewsFlash-Americas

Asia Pacific

  • Australia: Amendments to land and property tax measures (Queensland)
  • Australia: Consultation on draft cryptoasset tax transparency legislation
  • Australia: Public CbC reporting deadline deferred to January 29, 2027
  • Bahrain: Updated excise tax guide
  • China: Five-year tax deferral for gains from asset exchanges by integrated circuit and industrial machine tools businesses
  • China: Introduction of excise taxes on batteries
  • China: Protocol to income tax treaty with Norway enters into force
  • Hong Kong: Draft legislation to expand IP tax deduction
  • India: Protocol to income tax treaty with Mauritius enters into force, incorporates principal purpose test
  • India: Retroactive amendment authorizing jurisdictional assessing officers to issue reassessment notices is unconstitutional (High Court decision)
  • India: Transfer by Irish entity of shares in U.S. entity holding shares in Indian subsidiary not taxable in India under Irish treaty (tribunal decision)
  • Malaysia: Proposed tax measures in 2027 budget
  • Philippines: Accreditation framework for e-invoicing service providers
  • Saudi Arabia: New online annual disclosure form for regional headquarters
  • Singapore: Proposed tax exemption for asset management industry
  • Singapore: Updated GST guide for property owners and property holding companies

Read TaxNewsFlash-Asia Pacific

Europe

  • Cyprus: Confirmation of beneficial owners’ details by December 31
  • Czech Republic: Launch of new electronic sales registration system (EET 2.0)
  • Czech Republic: Proposed extraordinary tax on refineries; draft amendments to rules on tax depreciation and leasing
  • EU: Application of anti-abuse rule under parent-subsidiary directive (CJEU judgment)
  • France: Certain proposed tax measures in 2027 Finance Bill adopted by Finance Committee, including change to Pillar Two threshold
  • France: Updated guidance on exceptional CIT surcharge for large companies; extension of overseas tax incentives to solar energy and rehabilitation projects
  • Greece: Foreign tax credit offsets corporate income tax only after domestic withholding and prepaid taxes (Supreme Administrative Court decision)
  • Netherlands: Deduction limitation in Section 10(1)(j) did not apply to grant of conditional rights to shares (Supreme Court decision)
  • Poland: Proposed changes to tax verification activities; other tax developments
  • San Marino: Advance tax rulings and APAs for cross-border transactions
  • San Marino: Protocol to income tax treaty with Georgia enters into force
  • Switzerland: Proposal for temporary increase in VAT rates

Read TaxNewsFlash-Europe

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