Singapore: IRAS updates major exporter scheme GST guide with revised compliance requirements
The Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide GST: Major Exporter Scheme (Eighteenth Edition) on 3 August 2026, setting out the latest guidance on the operation of the Major Exporter Scheme (MES). The guide explains
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France introduces new e-invoicing compliance rules
France has issued new legislation completing the regulatory framework for mandatory electronic invoicing ahead of the September 2026 implementation, introducing detailed operational, governance and compliance requirements for plateformes agréées
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Singapore updates employee earnings reporting forms for YA 2027
The Inland Revenue Authority of Singapore (IRAS) has updated the Reporting Employee Earnings (IR8A, Appendix 8A, Appendix 8B) forms for Year of Assessment (YA) 2027 (income year 2026), setting out the reporting requirements employers must meet by 1
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Taiwan reminds firms of foreign exchange tax requirements
Taiwan's National Taxation Bureau of Taipei, Ministry of Finance has clarified that profit-seeking enterprises may recognise only realised foreign exchange gains and losses for profit-seeking enterprise income tax purposes, while book differences
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Luxembourg proposes mandatory B2B e-invoicing under ViDA reforms
Luxembourg has published a draft bill to expand mandatory electronic invoicing from business-to-government (B2G) contracts to domestic business-to-business (B2B) transactions, introducing a phased implementation from 2028. The proposal would amend
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Australia, Canada sign memorandum of understanding on arbitration under BEPS MLI
The Australian Taxation Office (ATO) has published a Memorandum of Understanding (MoU) with Canada outlining the application of Part VI (Arbitration) of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and
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Taiwan: Ministry of Finance issues P2P lending withholding tax guidance
Taiwan’s Ministry of Finance on 6 August 2026 issued an interpretative order clarifying the withholding tax requirements for interest income paid through peer-to-peer (P2P) lending platform operators. Under the order, when a business operating
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Qatar: GTA announces significant increase in tax compliance as tax return filing rate reaches 90% for the 2025 tax year
Qatar’s tax authority, the General Tax Authority (GTA), announced on 6 August 2026 that the taxpayer compliance rate for filing tax returns for the 2025 tax year reached 90%, representing an increase of 13.9% compared with the 2024 tax year. This
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Brazil: RFB issues procedures for withholding income tax on profits, dividends
Brazil’s tax authority, the Federal Revenue Service (RFB), announced that it enacted Law No. 15,270 of 26 November 2025 on 6 August 2026, which introduced significant changes to income taxation, including the withholding of Income Tax at Source
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Colombia issues tax decree on presumed interest, inflation components
Colombia has published Decree No. 0898 of 29 July 2026, establishing the deemed minimum annual interest rate for loans between companies and their partners or shareholders for the 2026 tax year, while also updating the inflationary components used
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France updates reference rate for deductible shareholder loan interest
France's tax administration has published updated administrative guidance confirming the reference interest rates used to determine the tax deductibility of interest paid on advances granted by partners or shareholders beyond their capital
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Italy temporarily cuts excise duty on diesel to combat fuel price surge
Italy has lowered the excise tax on diesel fuel to EUR 532.90 per thousand litres for 17 days, effective 7 August 2026, under Law decree No. 139/2026, which was published in the Official Journal No. 180 of 5 August 2026. The cut applies to gas
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Nigeria: NRS issues virtual asset tax framework, establishes income tax, VAT, and stamp duty obligations
The Nigeria Revenue Service (NRS) established a comprehensive framework in 2026 to regulate the taxation of virtual assets (VAs), including cryptocurrencies, stablecoins, and NFTs, through Guidelines on the Taxation of Virtual Assets ( Information
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India: Lok Sabha approves taxation, other laws (Amendment) Bill 2026
India's Lok Sabha passed the Taxation and Other Laws (Amendment) Bill (Bill No. 150 of 2026) 2026 on 6 August 2026, after it was introduced in Parliament on 4 August. The Bill proposes a series of amendments to the Income-tax Act, 2025, the
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Panama: MEF to overhaul revenue agency after years-long tax fraud scheme
Panama's Ministry of Economy and Finance (MEF) disclosed on 5 August 2026 that criminal fraud schemes operated within its General Directorate of Revenue (DGI) for years, systematically circumventing institutional controls. Minister Felipe Chapman
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Italy: Revenue Agency issues first comprehensive guidance on collaborative compliance regime
The Italian Revenue Agency has announced the release of Circular No. 6/E of 6 August 2026, providing the first comprehensive guidance on collaborative compliance after sweeping reforms introduced by Legislative Decree No. 221 of 30 December 2023.
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Kenya activates iTax tax amnesty functionality under Finance Act 2026
The Kenya Revenue Authority (KRA) has issued a notice announcing the activation of the Tax Amnesty Functionality in iTax, offering relief from penalties, interest and fines on eligible tax liabilities for periods up to 31 December 2025, provided the
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Finland proposes corporate tax cuts in draft 2027 budget
Finland’s Ministry of Finance announced the draft budget for 2027 on 6 August 2026, which includes several significant corporate tax measures. The government will review the draft budget during its budget session on 1–2 September, after which
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