2026

_{The EP’s proposal for three new EU levies on cryptoassets, online gambling, and digital services face pushback among EU ambassadors. This comes amid struggles to secure support for new own resources to finance the EU’s long-term budget. While there was pushback to cryptoassets and online gambling levy, a digital service levy seems stronger.}

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EU member states will discuss whether to take a common position during U.N. discussions on how the U.N. convention will interact with the convention’s protocols and other existing international agreements. This comes after a May 18 partial draft of the U.N. tax convention said that countries may need to interpret, apply, and renegotiate existing bilateral treaties to fulfill their obligations under the convention.

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The OECD published guidance on the GLOBE rules providing solutions for technical issues with the GIR XML schema and validation rules that taxpayers encounter as they file their initial returns. The guidance provides instructions on how to deal with mismatches between XML schema and the GIR template and how to handle missing, incorrectly placed, or redundant data fields.

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Singapore's Ministry of Finance started a public consultation on proposed legislation that would incorporate the age harbor and establish the exchange network information for information returns under the GLOBE rules.

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This official EU customs-and-tax development introduces a temporary €3 customs duty on low-value consignments from outside the EU and ends the prior duty exemption for such imports. The measure is part of the EU’s customs reform for e-commerce imports and is aimed at improving compliance, traceability, and equal treatment between import business models.

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Five jurisdictions press on with GMT implementation. Norway and Singapore signaled the adoption of the pillar 2 side-by-side package while Hungary, Luxembourg, and Portugal addressed administrative provision like information return filing.

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A bipartisan pair of lawmakers introduced a resolution warning that other countries’ implementation of a digital services tax could be met with investigations and retaliatory measures by the U.S. This comes as several countries—such as the U.K. and Poland— have proposed or enacted DSTs in recent months despite U.S. opposition.

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A senior Treasury Department official’s statement that any future digital-tax framework must be “evidence-based” sounds like a call for careful tax policymaking, given the apparent stalling of Pillar One. But the conflict there was never about a lack of evidence that US tech giants have economic presence in foreign markets. 

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To the casual visitor, little suggests that Jersey — the small island just off the northern coast of France — is one of the world’s leading offshore financial centers. You might clock billboards in the airport arrivals hall advertising trust structuring and international legal services, or notice the strikingly high concentration of top-end jewelers on King Street, the island’s main shopping parade. But there are no glass-and-steel towers in St. Helier, Jersey’s capital, no Ferraris burning up the country lanes, no six-star hotels, and just the one Michelin-starred restaurant. The look and feel is that of provincial England circa 1950 — and most of the 100,000 residents, many of whom have family links to the island going back generations, would prefer to keep it that way.

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The Canadian government has called on the country’s communications director to reconsider its decision to require foreign streaming services to pay a tax to facilitate the implementation of the Online Streaming Act. Large streaming companies would have had to contribute 15% of their annual revenue to support Canadian programming The government is now considering new policies to facilitate OSA’s implementation.

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