2026

An OECD report published Wednesday concluded that corporate income tax regimes can disproportionately disadvantage younger and smaller businesses by favoring larger multinational enterprises with greater tax planning capacity and access to specialized compliance resources. The report also raises questions about whether current international tax frameworks adequately balance revenue collection objectives with the need to support market entry and growth among smaller firms operating in increasingly globalized markets.

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An Irish digital infrastructure group warned that delays in expanding data center and energy capacity could threaten Ireland’s corporate tax base by prompting multinational technology companies to relocate intellectual property and future investment elsewhere.

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Private equity-backed companies are seeking exemptions from proposed UK tax reporting rules for “close companies,” arguing the measures were designed for small closely controlled businesses rather than large investment-backed corporate groups. The proposal highlights how technical ownership rules can inadvertently expand compliance obligations for multinational investment structures and private funds. The debate also reflects broader tensions between tax transparency initiatives and the administrative burdens imposed on complex cross-border corporate ownership arrangements.

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European countries are increasingly participating in United Nations negotiations aimed at expanding developing countries’ ability to tax remote and digital businesses, reflecting growing dissatisfaction with stalled OECD digital tax discussions and declining confidence in US cooperation. The negotiations center on replacing traditional physical presence standards with broader taxing rights over multinational enterprises operating digitally across borders.

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Swiss officials warned that the OECD’s revised global minimum tax framework may reduce Switzerland’s competitiveness for attracting US multinationals because companies could relocate to jurisdictions that have not implemented comparable minimum tax rules.

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A year into the Trump administration’s global tariff campaign, many companies are still struggling to coordinate their trade functions with their tax and transfer pricing teams, risking messy audits in the years to come.

The article reports on Turkey’s proposed tax package to attract foreign investment, regional operations hubs, exporters, and high-net-worth immigrants. The proposal would provide major corporate tax exemptions for qualified service centers, reduced tax rates for export income, a long-term foreign-source income exemption for qualifying new residents, and an amnesty for funds transferred into Turkish financial institutions.  

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The article examines European and business concerns over California A.B. 1790, which would phase out the water’s-edge election and require worldwide combined reporting for multinational corporations doing business in California. Mandatory worldwide combined reporting could lead to double taxation, increased compliance burdens, and foreign government objections by applying California’s formulary apportionment system to global corporate income.  

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The article reports that Portugal plans to propose a windfall tax on energy companies that have benefited from higher prices linked to the Iran war. The proposal builds on Portugal’s 2022 excess profits tax and follows unsuccessful efforts by Portugal and other EU countries to push the European Commission toward an EU-wide energy-sector windfall tax. The article shows how governments are reviving excess profits taxation as a national fiscal response to geopolitical shocks, energy price volatility, and public pressure over corporate gains during crises.

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The article reports that Switzerland is considering delaying the application of OECD Pillar 2 guidance on deferred tax assets from tax years beginning in 2024 to tax years beginning in 2025. The guidance affects how preexisting deferred tax assets tied to government arrangements or new corporate tax regimes are treated in effective tax rate calculations under the GloBE rules and Switzerland’s qualified domestic minimum top-up tax.

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