Scope: Canada
Status requires verification
Guidance on the Common Reporting Standard
Amendments to Part XIX of the Income Tax Act as published in the May 2026 Notice of Ways and Means Motion; new due-diligence and reporting obligations for financial institutions, including requirements to obtain valid self-certifications, report joint accounts, collect TINs/date of birth, effective January 1, 2027.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: Brazil
Status requires verification
Decreto nº 13.075 de 21 de julho de 2026 – emissão do CNPJ e documentos fiscais para pessoas físicas contribuintes da CBS
Decreto que altera o Decreto nº 12.955/2026 para adiar para **1º de janeiro de 2027** a obrigatoriedade de inscrição no **CNPJ** e emissão de documentos fiscais para pessoas físicas contribuintes da CBS (inclusive produtores rurais físicos). Até 31 de dezembro de 2026 permanecem válidos os mecanismos anteriores.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: China
Status requires verification
关于调整节能汽车、新能源汽车车船税优惠政策的公告
该公告自2027-1-1日起取消对节能汽车及新能源汽车（纯电动商用车、插电式混合动力商用车、燃料电池商用车）享受的车船税减半或免征优惠；自2012年起实施的这些优惠政策将被废止，以促进税收公平及收入分配调节。
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: Global
Proposed
Foreign Permanent Establishment Exemption — policy paper
UK will make it mandatory for UK-resident companies to **exempt profits and losses** attributable to foreign permanent establishments (PEs) from UK tax from accounting periods beginning 1 January 2027; with earlier commencement (1 September 2026) for oil & gas extraction and exploration PEs. Helps reduce exposure to double taxation and simplifies reporting of foreign operations for many businesses.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: China
Status requires verification
关于调整节能汽车、新能源汽车车船税优惠政策的公告 财政部 税务总局 工业和信息化部公告2026年第19号
From 1 January 2027, China is abolishing preferential vehicle-vessel tax incentives: energy-saving vehicles will no longer receive halved rates; pure electric commercial vehicles, plug-in hybrids, fuel-cell-powered commercial vehicles lose tax exemption. The change aims for tax fairness given rapid growth in NEV ownership and rising vehicle values.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
거주자의 가상자산소득 과세 개요
Introduces taxation of virtual asset income for residents: sets methods for calculating taxable gains, rules for when acquisition cost is unverifiable (allowing up to 50% of sales price as presumptive cost without separate expenses), establishes cost-basis rules for pre-existing holdings (cost basis set at higher of original acquisition or fair market value as of December 31, 2026), and fixed 20% tax rate with KRW 250 million basic exemption threshold. Applicable to virtual asset transactions from enactment onward.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
거주자의 가상자산소득 과세 시행 예정 (’27.1.1 이후)
소득세법 개정안 통과에 따라 거주자가 가상자산의 양도 또는 대여로 얻은 소득은 2027년 1월 1일부터 기타소득으로 분리 과세됨. 2026년 12월 31일 이전 취득한 가상자산은 취득가액 또는 그 시점 시가 중 큰 금액을 취득가액으로 함.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: Japan
Status requires verification
Extreme High Income Tax Burden Revisions (令和5年度見直し)
Japan lowered the ‘special deduction amount’ from **JPY 330 million to JPY 165 million** for defining base income for additional high income tax burden, and raised the surcharge rate from **22.5% to 30%**, applying to the sum of employment, business, investment, capital gains and other income. This change kicks in for **income year 2027 (令和9年分所得税より)**.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Proposed
Reform of the Foreign Permanent Establishment Exemption
From accounting periods beginning on 1 January 2027 (or 1 September 2026 for UK companies in oil and gas), UK resident companies with foreign permanent establishments will no longer have an option but will be **mandatorily** required to exempt the profits and losses of those foreign PEs for Corporation Tax. Losses from foreign PEs can’t be used to offset UK profits. Includes anti-avoidance rules. Draft legislation published for consultation 13 July 2026.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Guidance on the Common Reporting Standard (Part XIX of the Income Tax Act)
Canada Revenue Agency released updated guidance on Common Reporting Standard (CRS) from NWMM May 2026, clarifying definitions, due diligence and reporting requirements for financial institutions, to come into force January 1, 2027, under Part XIX of the Income Tax Act.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: Brazil
Status requires verification
Emissão do CNPJ e de documentos fiscais por pessoas físicas contribuintes da CBS começará em 1º de janeiro de 2027
Decreto nº 13.075/21-jul-2026 prorroga para 1º de janeiro de 2027 a obrigatoriedade de inscrição no CNPJ e emissão de documentos fiscais por pessoas físicas contribuintes ou responsáveis tributários no âmbito da CBS (Contribuição sobre Bens e Serviços), bem como para produtores rurais pessoas físicas. Até 31-12-2026 permanecem válidos os mecanismos atuais de identificação fiscal.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
2026년 우리나라 거주자·내국법인, 해외에 보유한 자산으로 총 111조 원 신고
Enforcement of overseas financial accounts and overseas trusts reporting by residents and domestic corporations: in 2026, reports totaled KRW 111 trillion; high penalties for non-reporting, penalty relief for late or corrected filings; implementation of Crypto Asset Reporting Framework starting in 2027.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: ASEAN
Status requires verification
Income Tax (International Tax Compliance Agreements) (Common Reporting Standard) (Amendment) Regulations 2026
IRAS published amended regulations and updated the CRS e-Tax Guide (5th Edition) on **11 August 2026**, incorporating the requirements under the Amended Common Reporting Standard. These changes enhance reporting obligations for Financial Institutions in Singapore, with effect from **1 January 2027**. Obligations include obtaining accurate TINs, reporting, and due diligence requirements. Key compliance update for cross-border tax transparency.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: Other Europe
Status requires verification
Ukraine joins updated CRS Addendum for automatic exchange of financial account information
Ukraine signed the Declaration on accession to the Addendum to the Multilateral Competent Authority Agreement on the Common Reporting Standard (CRS), bringing the country into the updated CRS standard from 2027. Changes include legal alignment via Ministry of Finance Order No. 316 implementing new due diligence and reporting requirements.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
국세청, 해외금융계좌·해외신탁 신고 및 포상금 제도 강화 발표
In a report published 2 September 2026, the National Tax Service (NTS) stated residents and domestic entities have reported overseas financial accounts and foreign trusts totaling ₩111 trillion, and announced: (1) implementation of penalties and rewards (포상금 제도) for overseas account misreporting; (2) introduction of CARF (Crypto Asset Reporting Framework) in 2027 to enable cross-border exchange of crypto transaction data; (3) increased enforcement activities via modified thresholds and larger fines on non-reporting. Implications: HNWIs and entities with offshore assets face higher disclosure risk, stronger data‐driven auditing, and potentially large penalties for non-compliance.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
NTS: Summary of Virtual Asset Income Taxation for Residents & Non-Residents
The NTS has updated its guidelines to implement the amended Income Tax Act (개정 소득세법) which separates crypto/virtual asset gains as 기타소득 from Jan 1, 2027 for residents; for non-residents, domestic sourced income from crypto transactions via virtual asset service providers will be subject to withholding. Key rules include the higher of acquisition cost or market value as of Dec 31, 2026 for pre-existing holdings; a flat 20% tax rate; basic exemption of KRW 2,500,000; and expense deduction rules with presumed cost when actual cost is unverifiable. Implications: clear pathway for crypto holders to compute liability and for exchanges to prepare withholding/reporting systems.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: United States
Proposed
IRS Simplifies Penalty Relief, Introduces Automatic Process for Eligible Taxpayers (Automatic Exemption from Penalty – AEP)
As of July-2026, IRS is replacing First Time Abate with a new Automatic Exemption from Penalty (AEP) program. Under AEP, eligible taxpayers with a history of timely filing and paying (three prior years for annual filers; 12 consecutive quarters for quarterly filers) will automatically receive relief from failure-to-file, failure-to-pay, and failure-to-deposit penalties, without needing to request it. Applies to original returns due on or after January 1, 2027; also begins phasing in earlier for certain 2025 returns and 2026 quarterly returns.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Common Reporting Standard (CRS) Schema Version 3.0
ATO will from 1 January 2027 adopt CRS Schema Version 3.0 for exchange of financial account information under OECD reporting standards. Schemas and validation rules updated; Version 2.0 will no longer be supported for production submissions after hard-cutover date, and files using old schema will be rejected. This affects reporting entities and software developers.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Foreign Permanent Establishment Exemption – Mandatory Exemption of Profits and Losses
UK-resident companies will be required to exempt profits and losses attributable to foreign permanent establishments from their UK corporation tax base starting from accounting periods beginning on or after 1 January 2027. For oil and gas companies, this obligation begins earlier, from 1 September 2026. Draft legislation has been published. The change prevents use of foreign losses to offset UK profits, aligning with international practice, and aims to protect the UK corporate tax base.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
거주자의 가상자산소득 과세 시행 및 양도·대여분 분리과세 도입
Under the Income Tax Act amendment passed December 2024, from **January 1, 2027**, residents’ income from the **sale, lending or exchange of virtual assets** will be taxed under **other income (기타소득)**, separately from standard progressive rate income. Acquisition cost for holdings before that date will be the higher of original cost or market value as of December 31, 2026. Non-resident crypto income via domestic VASPs will face withholding tax. The rate is fixed at 20%, with basic exemption (연 2,500,000 KRW).
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jan 1, 2027
- Verification
- Not recorded
Open cited source