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ITAT Deletes Section 56(2)(viib) Addition as Shares Were Allotted to Existing Shareholders
The Income Tax Appellate Tribunal (ITAT) deleted a Section 56(2)(viib) addition — the Indian angel tax provision targeting share issuances…
SC Dismisses Revenue Appeal as ESOP Allotment Expense Is Allowable
The Supreme Court of India dismissed a revenue department appeal, upholding that expenses related to Employee Stock Option Plan (ESOP)…
Delhi HC Rejects ESOP Disallowance as Share Allotment Reflects Commercial Reality
The Delhi High Court rejected the tax authorities' disallowance of ESOP-related expenses, ruling that share allotments under employee stock option…
UK Aims To Modernize Tax Framework For Distributions
The UK government is consulting on modernizing its tax framework governing corporate distributions, aiming to simplify and update rules that…
Modernising the distributions framework
The UK government is consulting on modernising the distributions framework under company law, which governs how companies can lawfully make…
Crux on Participation in Transferable Tax Credit Market
Crux discusses participation in the transferable tax credit market, a mechanism under US clean energy legislation (Inflation Reduction Act) allowing…
Corporate Apportionment of Partnership IncomeVirginia ruling could have multistate implications
This article examines a Virginia ruling on the corporate apportionment of partnership income, with potentially broad multistate implications. It analyzes…
2026 Tax Reporting Trends Shaping Compliance Risk
This article examines emerging tax reporting trends in 2026 that are reshaping compliance risk for businesses. It covers increased IRS…
Guidance: Detailed tax guidance for charities
HMRC's detailed tax guidance for charities covers the range of tax reliefs, exemptions, and obligations applicable to charitable organisations in…
Chile SII Clarifies VAT and Income Tax Treatment of Fraudulent Invoices
Chile's tax authority, the SII, has issued guidance clarifying the VAT and income tax treatment of fraudulent invoices. The clarification…
False Invoices, VAT Credit Denial and Income Tax Consequence
This article explores the dual tax consequences of false invoicing: denial of input VAT credits and additional income tax implications.…
What exactly is direct tax?
This article provides an educational overview of direct taxes, explaining what they are, how they differ from indirect taxes, and…
The Energy Industry is Driving Innovation and the R&D Tax Credit Confirms It
The energy industry is increasingly leveraging R&D tax credits as it drives technological innovation across renewables, carbon capture, hydrogen, and…
Maximizing Innovation Incentives: How the Orphan Drug Credit Can Outperform the R&D Tax Credit
This article compares the Orphan Drug Credit (ODC) with the traditional R&D tax credit for pharmaceutical and biotech companies developing…
Last Call: Businesses Have Until July 6 to Address R&E Deductions for Prior Years
A deadline alert for U.S. businesses regarding Research and Experimentation (R&E) deductions under IRC Section 174. Following the 2017 Tax…
California Legislature Keeps ‘Hand Grenade’ Corporate Tax Proposal Alive for Next Governor
The California Legislature has kept alive a significant corporate tax proposal, positioning it as a major policy decision for the…
Quadrupling the Stock Buyback Tax: What Are the Implications?
This article examines the implications of quadrupling the stock buyback tax in the United States from 1% to 4%. It…
Policy paper: Increase in the rate of the Electricity Generator Levy
UK policy paper detailing an increase in the rate of the Electricity Generator Levy (EGL), a temporary tax on exceptional…
AICPA Submits Comments to Treasury, IRS on Accounting Method Change Procedures
The AICPA has submitted formal comments to the U.S. Treasury Department and IRS regarding procedures for changing accounting methods. The…
Double Taxation Relief Manual
HMRC's Double Taxation Relief Manual provides comprehensive guidance for tax professionals on the UK's framework for relieving double taxation. It…
Banks must upload account data to FBR Hub under FY27 Bill
Pakistan's FY27 Finance Bill introduces a mandatory requirement for banks to upload customer account data directly to the Federal Board…
Corporate Intangibles Research and Development Manual
HMRC's Corporate Intangibles Research and Development Manual provides comprehensive guidance on the UK tax treatment of corporate intangible assets and…
Guidance: Filing your Company Tax Return online
HMRC has published guidance on filing Company Tax Returns online, including a list of approved commercial software suppliers for Corporation…
Malaysia: Income tax treaty with Russia enters into force; other tax developments (June 2026)
Malaysia's income tax treaty with Russia has entered into force, marking a significant bilateral tax development. The June 2026 update…
FBR bans PDF financial statements for companies
Pakistan's Federal Board of Revenue (FBR) has banned the submission of PDF financial statements for companies, mandating a shift to…
The real cost of disconnected corporate tax systems
Disconnected corporate tax systems create significant hidden costs for tax departments, including data reconciliation errors, compliance delays, and audit risks.…
Taxation With Representation: Gibson Dunn, Davis Polk, S&C
This Law360 'Taxation With Representation' column highlights recent significant M&A and corporate transactions where major law firms Gibson Dunn, Davis…
Guidance: Set up a limited company and register for Corporation Tax: service availability and issues
HMRC's official guidance page details the current service availability and known issues affecting the online service used to set up…
International Manual
HMRC's International Manual is a comprehensive guidance resource covering the UK's international tax rules for tax professionals and HMRC officers.…
Ex-Bank Chief Admits Role In Odebrecht Tax Evasion Plot
A former bank chief has admitted involvement in a tax evasion scheme connected to Odebrecht, the Brazilian construction conglomerate at…
Revised Microcaptive Rules Still Violate APA, 6th Circ. Told
The Sixth Circuit is being urged to find that revised IRS microcaptive insurance transaction rules still violate the Administrative Procedure…
Treasury, IRS Provide Section 892 Tax Relief for Sovereign Investors
The U.S. Treasury and IRS have issued guidance providing tax relief under Section 892 of the Internal Revenue Code for…
Why Global Structuring and Transfer Pricing Matter for Life Sciences Companies
This article examines the critical importance of global structuring and transfer pricing for life sciences companies, which face unique challenges…
Payroll pulse: Navigating permanent establishment risk with remote workers in 2026
This article examines the growing permanent establishment (PE) risks that arise when employees work remotely across borders, a challenge intensifying…
Orbitax Launches Australia Public CbC Reporting Solution
Orbitax has launched a dedicated solution to assist multinational enterprises in complying with Australia's public Country-by-Country (CbC) reporting requirements. Australia's…
Portugal: DAC8 and DAC9 transposition enacted
Portugal has enacted legislation transposing both DAC8 and DAC9 into national law. DAC8 extends automatic exchange of information requirements to…
Colorado Enacts Broad Tax Code Changes
Colorado has enacted comprehensive tax code changes affecting multiple areas of state taxation. The legislation introduces broad reforms to Colorado's…
New York State Enacts 2026–2027 Budget with Individual and Business Tax Law Changes
New York State has enacted its 2026–2027 budget incorporating significant individual and business tax law changes. The legislation introduces modifications…
Will the AI Apocalypse Come for the Tax Code?
This article explores how artificial intelligence-driven economic transformation may fundamentally challenge existing tax structures. As AI reshapes labor markets, business…
Has Britain run out of “other people” to tax?
This article examines the UK government's fiscal challenge of finding new revenue sources, questioning whether the traditional political strategy of…
In Conversation with Chilean Finance Minister Jorge Quiroz: Reforming the Tax Code for Growth and Competitiveness
Chilean Finance Minister Jorge Quiroz discusses proposed reforms to Chile's tax code aimed at enhancing economic growth and competitiveness. The…
Financial Transaction Taxes in Europe, 2026
This Tax Foundation analysis examines financial transaction taxes (FTTs) across European countries as of 2026. FTTs are levies applied to…
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