2026

To understand the contradictions at the heart of President Donald Trump’s trade policy, look no further than the humble cup of coffee.

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The US Treasury is keeping a close eye on forthcoming guidance from the OECD that’s meant to ensure the global minimum tax framework maintains its integrity, a top department official said Friday.

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Democratic lawmakers seized on Elon Musk’s new status as the world’s first trillionaire to renew calls for a wealth tax on the richest Americans as affordability concerns dominate national politics.

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This OECD item discusses implementation of the amended Common Reporting Standard and the Crypto-Asset Reporting Framework in Caribbean jurisdictions. It focuses on the legal, IT, and reporting steps needed for future automatic exchanges, with implications for tax transparency, cross-border reporting, and international tax administration.

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Finley argues that the IRS lacked the statutory authority to blend the commensurate with income rule with standard arm’s length principles in the transfer pricing context. A closer look at the legislative history reveals Congress actually intended a strict, hindsight-based mechanism that adjusts a company's tax liability based on real-world profits rather than upfront projections.

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Anthropic CEO Dario Amodei called on governments to tax AI companies to fund a universal basic income and introduce employee retention incentives to account for the potential impact the technology could have on the labor market.

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A late effort to include new EU-wide taxes in the bloc’s next budget plan fell through as none of the additional levies—on digital services, crypto assets, and online gambling—were included in the amended proposal.

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EU finance ministers are meeting to negotiate an expansion of the Carbon Border Adjustment Mechanism (CBAM) to downstream steel and aluminum products, while strengthening anti-abuse measures against practices like "harmful resource shuffling." However, member states remain deeply divided over potential temporary exemptions, the inclusion of indirect emissions, and how to balance the expansion with existing EU state aid systems.

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Italy expects to lose approximately €3.02 million in annual revenue starting in 2026 after implementing the OECD's Pillar 2 side-by-side simplification package, driven primarily by a new safe harbor for substance-based tax incentives. However, data from early Pillar 2 collections indicates that other measures in the package—including safe harbors for U.S.-parented multinational groups—will have no measurable fiscal impact on the Italian treasury.

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Carvalho argues that the repeated use of OECD terms concerning pillar 2 have normalized the acceptance of the global anti-base-erosion model rules through a form of “illusory truth” while constraining domestic tax policymaking.

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