2026

This official USTR announcement imposes a 25 percent tariff on certain Brazilian imports following a Section 301 investigation into Brazilian trade practices. The investigation addressed measures involving digital trade and electronic payment services, preferential tariffs, intellectual property, ethanol market access, and other cross-border trade issues. The action reflects the use of tariffs and trade enforcement measures in response to disputed foreign economic policies.

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As global competition for mobile capital intensifies, tax administration is increasingly viewed as a core component of a jurisdiction’s investment offering. The UK’s Advance Tax Certainty Service, or ATCS, reflects this shift, positioning tax certainty as a strategic lever to enhance the attractiveness of the UK for major long-term investments.

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The OECD’s agreement to exempt US multinationals from key parts of the global minimum tax framework is expected to reduce revenues generated from the levy.

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The European Commission justified provisions in its tax simplification bill that leave out the largest multinationals from some anti-tax avoidance rules and reporting obligations, arguing that the global minimum tax insures against most forms of tax evasion.

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The UK is proposing to make its windfall profits tax on oil and gas permanent, with a new levy that would extend the windfall beyond its current expiration in 2030.

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The UK released its latest consultation document on the International Controlled Transactions Schedule, or ICTS, on June 16. This new annual filing requirement will transform transfer pricing risk assessments for both the UK tax authority, HM Revenue & Customs, and taxpayers, shifting from a documentation-focused process to a data-driven one.

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Overcoming data access and personnel limitations is among top challenges for a United Nations effort to help developing countries expand their enforcement of transfer pricing in the tech sector.

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Companies should give the OECD’s latest simplification measures time to work after a difficult first year of compliance with the global minimum tax rules, a senior OECD official said.

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