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KPMG Week in Tax: October 5 – 9, 2026

Recent tax developments from around the globe for the week of October 5 – 9, 2026

October 12, 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).

  • European Union: The ECOFIN Council updated the EU list of non-cooperative jurisdictions for tax purposes, moving Panama and Vietnam from the blacklist to the grey list and removing Belize from the grey list. The revised blacklist now comprises eight jurisdictions. Read TaxNewsFlash
  • Luxembourg: The 2027 Budget Bill proposes corporate tax rate reductions, repeal of the 17-year loss carry-forward limitation, and an increased investment tax credit for digital transformation and ecological and energy transition investments. The measures generally would apply beginning in tax year 2027. Read TaxNewsFlash
  • Hong Kong: Proposed tax measures would expand stamp duty relief for intra-group asset transfers (read TaxNewsFlash) and introduce a concessionary tax regime for qualifying enterprises in five strategic sectors, which would provide a 5% or half-rate tax for up to five years and is expected to take effect from the 2027/2028 year of assessment (read TaxNewsFlash).

United States

  • Rev. Proc. 2026-20: Safe harbor for investment and grantor trusts staking digital assets
  • President Trump signs order directing Treasury to defer diesel fuel excise taxes, provide penalty relief
  • California: IRC section 751(a) gain sourced to taxpayers’ states of residence (Office of Tax Appeals decision)
  • KPMG article: Encouraging domestic investment in U.S. infrastructure
  • KPMG report: Mexico’s proposed 2027 tax changes could affect U.S. multinationals
  • KPMG report: Recent IRS guidance regarding “tax-aware” strategies

Read TaxNewsFlash-United States

Transfer Pricing

  • Belgium: Proposed extension of statutory DTT return filing deadline, implementation of DAC9
  • Slovakia: Guidance on minimum corporate tax and draft Pillar Two amendments
  • Sweden: Draft amendments to Pillar Two rules
  • Türkiye: Benchmark system for transfer pricing risk analysis launched
  • UK: Losses not deductible because related entities not interacting on a commercial basis (First-tier Tribunal decision)

Read TaxNewsFlash-Transfer Pricing

FATCA / CRS / CARF

  • Bahamas: Reminder to include TINs and dates of birth in FATCA reports
  • Japan: Updated FAQs on CRS reporting system
  • South Africa: Enhancements to AEOI reporting

Read TaxNewsFlash-FATCA / CRS / CARF

Trade & Customs

  • U.S. BIS guidance on assessment of U.S. content for certain Canadian and Mexican products
  • U.S. CBP proposed regulations regarding electronic filing and bonding requirements for low-value shipments
  • U.S. logistics company settles with OFAC for $175,015 for apparent counter narcotics sanctions and reporting violations
  • USTR continues China Section 301 actions, makes conforming amendment to product exclusion
  • Thailand: New voluntary additional customs duty payment program

Read TradeNewsFlash-Trade & Customs

Africa

  • Nigeria: Guidance on direct and indirect taxation of virtual assets
  • Nigeria: Guidance on VAT administration

Read TaxNewsFlash-Africa

Americas

  • Antigua and Barbuda: Proposed 25% corporate tax rate for offshore banks
  • Honduras: Reform of electricity sector, including tax incentive changes
  • KPMG report: Mexico’s proposed 2027 tax changes could affect U.S. multinationals

Read TaxNewsFlash-Americas

Asia Pacific

  • Bahrain: Updated VAT deregistration manual and VAT registration guide
  • Hong Kong: Draft legislation implementing enhanced stamp duty relief for intra-group asset transfers
  • Hong Kong: Proposed concessionary tax regime to attract strategic industries and investments
  • India: Recommendations of GST Council meeting
  • India: Tax residency certificate not conclusive of eligibility for benefits under the Mauritius treaty (tribunal decision)
  • Indonesia: New VAT collection procedures for cross-border digital transactions
  • New Zealand: Consultation on updated guidance on taxation of royalties paid to nonresident software suppliers
  • Thailand: New voluntary additional customs duty payment program
  • Türkiye: Benchmark system for transfer pricing risk analysis launched
  • Türkiye: Updated special consumption tax rates on fuels under price stabilization mechanism

Read TaxNewsFlash-Asia Pacific

Europe

  • Belgium: Proposed extension of statutory DTT return filing deadline, implementation of DAC9
  • EU: List of non-cooperative jurisdictions updated
  • Finland: Income tax treaty with France enters into force
  • France: Proposed tax measures in 2027 Finance Bill
  • Hungary: Special windfall tax on petroleum product producers revised and extended
  • Ireland: Tax measures in 2027 budget
  • Lithuania: Proposed amendments to VAT registration threshold; guidance on VAT amendments implementing ViDA
  • Lithuania: Updated guidance on foreign tax credit and CFC rules
  • Luxembourg: Tax measures in 2027 budget bill
  • Moldova: Draft legislation aimed at simplifying tax and customs rules approved by Parliament
  • Moldova: Proposal to apply VAT to remote sales of low-value goods
  • Netherlands: Updated guidance on tax-exempt mergers and split-ups
  • Poland: Joint and several VAT liability extended to purchases of selected services from January 1, 2027
  • Poland: Legislation removing MDR obligations for domestic tax arrangements effective October 1, 2026; other tax developments
  • Slovakia: Guidance on minimum corporate tax and draft Pillar Two amendments
  • Spain: Implementing regulation for mandatory e-invoicing
  • Sweden: Draft amendments to Pillar Two rules
  • Sweden: Protocol to income tax treaty with France enters into force
  • Türkiye: Benchmark system for transfer pricing risk analysis launched
  • Türkiye: Updated special consumption tax rates on fuels under price stabilization mechanism
  • UK: Losses not deductible because related entities not interacting on a commercial basis (First-tier Tribunal decision)

Read TaxNewsFlash-Europe

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