Dominican Republic consults on draft software tax rules under tax reform
The Dominican Republic's General Directorate of Internal Taxes (DGII) has launched a public consultation on a draft general rule establishing the tax treatment of software transactions, introducing new rules for software acquisitions, licensing,
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Thailand issues guidance on foreign currency conversion for corporate income tax calculations
The Thailand Revenue Department has issued a guidance, on 7 July 2026, outlining the method that companies and juristic partnerships must use to convert foreign currency, foreign currency-denominated assets, and liabilities into Thai currency when
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Singapore: IRAS issues advance ruling on offshore dividend payments
The Inland Revenue Authority of Singapore (IRAS) published Advance Ruling Summary No. 10/2026 on 1 Jul 2026, clarifying when dividend income received from an offshore subsidiary and subsequently paid to shareholders is not regarded as being
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Malaysia doubles tax deduction for corporate scholarship sponsorships
Malaysia’s Ministry of Finance has gazetted the Income Tax (Deduction for the Sponsorship of Scholarship to Malaysian Student Pursuing Studies at Technical and Vocational Certificate, Diploma, Bachelor’s Degree or Professional Certificate
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Cyprus extends first provisional tax deadline
Cyprus residents and companies earning non-salary income must pay provisional tax for 2026. The first instalment is due 31 July 2026, with an extended deadline of 31 August 2026 for those using online banking. Companies and individuals reporting
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Australia: ATO strengthens compliance action on over-claimed expenses, GST credits
The Australian Taxation Office (ATO) announced on 8 July 2026 enhanced compliance measures targeting businesses that intentionally overstate deductible expenses and GST credit claims. ATO is strengthening compliance action on businesses that
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Singapore: IRAS updates guidance on withholding tax for technical, management services
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on the withholding tax treatment of payments for technical and management services under Section 12(7)(b) and Section 12(7)(c) of the Income Tax Act 1947, providing greater
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UK: Supreme Court rules deferred partner profits taxable as miscellaneous income under Section 687
The UK Supreme Court ruled on 17 June 2026 that payments received by partners under a deferred remuneration scheme are taxable as miscellaneous income under section 687 of ITTOIA 2005, upholding the Court of Appeal's decision in HMRC v HFFX LLP
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Taiwan reminds small businesses of tax withholding, reporting obligations
Taiwan has reminded small-scale businesses exempt from issuing uniform invoices that they must still comply with tax withholding and reporting obligations when paying salaries, rent or other types of income, even if their taxes are assessed by the
See MoreMalaysia gazettes deduction cap for companies leasing new EVs
Malaysia’s Ministry of Finance has gazetted Income Tax (Deduction For Rental Payments) (Electric Motor Vehicles) Rules 2026 on 26 June 2026. These rules provide specific tax incentives for Malaysian companies that lease electric motor
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Chile: SII clarifies carbon credits deductible only for own emissions
The Chilean tax authority (SII) has issued Letter Ruling No. 1529 of 22 June 2026, clarifying the deductibility of carbon credit purchases under amendments to Article 31 of the Chilean Income Tax Law that took effect in 2020. The ruling examines
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Nigeria rolls out presumptive tax regime for informal sector, bans cash and roadblock collection
Nigeria's Joint Revenue Board published the Presumptive Tax Regulations, 2026, which were originally issued in the Official Gazette on 13 May 2026 and took effect from 1 January 2026. The Nigeria Presumptive Tax Regulations, 2026, serve as a
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Hong Kong: IRD revises list of tax-exempt, concession eligible debt instruments
The Hong Kong Inland Revenue Department (IRD) announced on 30 June 2026 that it has released updated lists of Qualifying Debt Instruments (QDIs) and sovereign bonds eligible for profits tax concessions or exemptions as of 31 March
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Uzbekistan introduces tax exemptions for cultural, arts sectors
Uzbekistan has released Presidential Decree No. UP-103 of 2 June 2026, which introduces various measures aimed at the modernisation and expansion of cultural and arts sectors in Uzbekistan. To foster new talent, the government is establishing
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Saudi Arabia: ZATCA extends fines, financial penalties exemption initiative
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) has announced on 29 June 2026 the Minister of Finance’s decision to extend the "Cancellation of Fines and Exemption of Financial Penalties Initiative" for taxpayers subject to all tax
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Dominican Republic: DGII outlines implementation timeline for Law 30-26 tax reforms
The Dominican Republic's Directorate General of Internal Revenue (DGII) has issued Notice 10-26, setting out the implementation schedule for key provisions of Law 30-26 and confirming that several tax measures will take effect from 1 July
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Australia: Parliament introduces bill for loss carry back, permanent AUD 20,000 instant asset write-off
Australia’s Parliament has introduced a Bill to implement Budget 2026–27 measures, including the introduction of loss carry-back provisions and the permanent extension of the small business instant asset write-off. The Treasury Laws Amendment
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Argentina exempts crypto transactions, payment systems from bank credit and debit tax
Argentina’s Executive Branch has introduced a new exemption from the tax on debit and credit bank accounts for cryptocurrency transactions by amending Decree No. 380/2001 through Decree No. 475/2026, dated 17 June 2026 The decree updates tax
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