Hong Kong: IRD reminds property owners of 2025/26 tax filing obligations
The Hong Kong Inland Revenue Department has issued a notice outlining the property tax obligations of property owners for the year of assessment 2025/26. Property tax is charged on owners of land and/ or buildings ("Landed Property") by reference
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Bangladesh announces Budget 2026-27, proposes sweeping incentives for foreign investment
Bangladesh’s Finance Minister Amir Khosru Mahmud Chowdhury presented the National Budget 2026-27 today, 11 June 2026, after his cabinet endorsed the proposed budget on the same day. The total outlay of the FY 2026-27 budget is set at BDT 9.38
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New Zealand: Inland Revenue issues guidance on GST for low-value pre-registration goods, services
New Zealand Inland Revenue has issued Tax Information Bulletin - June 2026 on 22 May 2026, which includes Commissioner's statement (CS) 26/02: GST treatment of low value pre-registration acquired goods and services, among other
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Belgium to digitise diplomatic exemption requests for customs and excise duties
Belgium's General Administration of Customs and Excise announced on 5 June 2026 that it is introducing a digital system for exemption requests starting 1 July 2026. The initiative targets diplomatic missions, international organisations operating
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Italy Tax Authority tightens gift tax relief rules for family business transfers
Italy's tax administration issued two critical rulings on 4 June 2026 dismissing attempts to minimise gift tax during generational corporate transfers. Both decisions reinforce a core principle: transferring shares to the next generation only
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Taiwan warns gift tax exemption on agricultural land can be revoked if farming use ends
The Fengyuan Branch of Taiwan’s National Taxation Bureau of the Central Area has reiterated today, 5 June 2026, that agricultural land gifted for farming purposes can be exempt from gift tax when transferred between certain close relatives,
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Belgium gazettes programme law, introduces increased withholding tax rate
Belgium has gazetted the Programme Law of 30 May 2026 on 1 June 2026, a comprehensive legislative act designed to implement diverse fiscal and administrative reforms. This legislation introduces significant taxation adjustments, specifically
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US: New York approves FY 2026-27 budget, introduces tip income tax exemption
New York Governor Kathy Hochul signed the New York State Fiscal Year 2027 Budget on 28 May 2026. This legislative package is designed to address the rising cost of living while funding critical public safety and infrastructure initiatives. While
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Poland further extends fuel tax relief until mid-June 2026
Poland's government announced on 29 May 2026 that it has prolonged its fuel pricing relief programme through 15 June 2026, continuing temporary cuts to VAT and excise duties on petrol, diesel, and biofuel components. The extension builds on
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Hong Kong gazettes Stamp Duty (Amendment) (No. 2) Bill 2026
The Hong Kong Inland Revenue Department has announced the Stamp Duty (Amendment) (No. 2) Bill 2026 on 29 May 2026, which was published in the Official Gazette the same day. The Stamp Duty (Amendment) (No. 2) Bill 2026 provides for the calculation
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US: JCT publishes detailed explanation of tax overhaul under One Big Beautiful Bill Act
The US Congress Joint Committee on Taxation (JCT) published, on 28 May 2026, its General Explanation of the Tax Provisions of Public Law 119-21, providing a detailed breakdown of the tax measures contained in the One Big Beautiful Bill Act. The
See MoreItaly: Fuel tax relief and support measures to continue through June 2026
Italy’s Revenue Agency has announced that the government has introduced Legislative Decree no. 89/2026, published on 25 May 2026, implementing comprehensive tax relief measures to ease the burden of rising fuel costs on citizens and businesses.
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Malawi enacts 2026–27 budget, introduces VAT on digital services by foreign companies
Malawi has enacted the legislation implementing the 2026–2027 Budget, which was published in the Official Gazette on 14 April 2026 and entered into force on 15 April 2026. This follows after Malawi’s Minister of Finance, Economic Planning and
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Jamaica: TAJ postpones implementation of revised environmental protection levy policy
Jamaica’s tax administration (TAJ) announced on 18 May 2026 that the implementation of the revised Environmental Protection Levy (EPL) from 0.5% to 0.85%, which was scheduled to take effect on 1 May 2026, has been delayed pending the completion of
See MoreHong Kong: Government approves Stamp Duty (Amendment) Bill 2026
The Hong Kong Inland Revenue Department announced that the government has welcomed the approval of the Stamp Duty (Amendment) Bill 2026 by the Legislative Council on 20 May 2026. The Stamp Duty (Amendment) Bill 2026 has provisions to increase the
See MoreJamaica: TAJ issues guidance on new special consumption tax on sweetened beverages
Jamaica’s tax administration (TAJ) has released Technical Advisory No. 052026/01/GCT-TA on 1 May 2026, which guides both internal and external stakeholders on the implementation and administration of the new special consumption tax (SCT) on
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Brazil introduces comprehensive indirect tax reform with new regulations for IBS, CBS
Brazil is implementing a major indirect tax reform, replacing five existing taxes — three federal (PIS, COFINS, IPI), one state (ICMS), and one municipal (ISS) — with two new taxes: CBS (federal contribution on goods and services), managed
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Italy finalises fuel relief package with extended tax cuts, transport subsidies
Italy’s government has finalised its fuel decree with the publication of Conversion Law Number 79/2026 in the Official Journal on 16 May 2026. The legislation makes Legislative Decree number 33/2026 into permanent law, maintaining reduced excise
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