Netherlands: Tax Authorities clarify Pillar Two Minimum Tax Act 2024

IRS has updated its FAQs on the deduction for qualified overtime compensation, clarifying eligibility, deduction limits, reporting requirements and rules for federal employees. The updated guidance also provides further details on withholding and the treatment of qualified overtime compensation for tax years 2025 and 2026 onwards.

The US Internal Revenue Service has expanded Business Tax Account features, allowing eligible businesses and organisations to access more digital notices, manage payments and view federal tax account information online.

India’s Ministry of Finance has revised Central Excise duty rates on select petroleum products through three notifications issued on 3 August 2026. The amended rates took effect immediately upon publication in the Official Gazette.

The UAE will introduce a minimum Excise Price of AED 1 per millilitre for Liquids used in Electronic Smoking Devices and Tools from 1 September 2026, under a new Ministry of Finance Decision aimed at strengthening excise tax compliance.

Bulgaria’s 2026 State Social Security Budget Act, published in the State Gazette, sets revised social security contribution bases, with the maximum monthly basis rising to EUR 2,300 from August and higher minimum thresholds applying to self-employed and employed persons.

IRD has issued revised guidance on calculating quarterly income tax instalments from the Year of Assessment 2026/2027, following amendments to the Inland Revenue Act. The circular sets out the standard and alternative methods taxpayers must use to determine their instalment liabilities.