Canada: CRA to apply GST/HST on mutual fund trailing commissions from July 2026
The Canada Revenue Agency (CRA) will require mutual fund dealers to collect goods and services tax/harmonised sales tax (GST/HST) on trailing commissions, as they are now considered taxable supplies, starting 1 July 2026. The CRA’s position on
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Australia: ATO warns unclaimed GST, fuel tax credits will expire after four years
The Australian Taxation Office (ATO) announced on 14 January 2026 that GST credits and fuel tax credits will expire if not claimed within the four-year time limit. In 2024, the ATO published Miscellaneous Taxation Ruling MT 2024/1 Miscellaneous
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Colombia enacts several tax reforms amid economic emergency
Colombia’s government issued Legislative Decree No. 1474 on 29 December 2025, introducing several temporary tax measures to fund the national budget in response to the state of emergency declared earlier under Decree No. 1390 of 22 December
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Malaysia: MoF revises SST policies, announces lower rental tax, raw material exemptions, and extended construction relief
Malaysia’s Ministry of Finance released updated policy notices on sales and services tax (SST) on 5 January 2026. The key updates are as follows: Effective 1 January 2026, the service tax on rental and leasing services will be revised to
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Argentina: Congress approves 2026 budget, introduces no new taxes
Argentina’s Congress approved the 2026 budget bill on 26 December 2025, marking the first budget passed since President Javier Milei took office in late 2023. The measure, which passed with 46 votes in favour, 25 against, and one abstention,
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Ghana abolishes COVID-19 health recovery levy
Ghana’s President John Dramani Mahama signed the COVID-19 Health Recovery Levy Repeal Act 2025 into law on 10 December 2025, ending the 1% levy on goods, services, and imports from January 2026. The repeal fulfills a key campaign promise, as
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Brazil: RFB, GST committee issue guidelines for CBS and IBS implementation starting January 2026
Brazil’s tax authority, the Federal Revenue Service (RFB) and the Goods and Services Tax Management Committee (CGIBS) have released guidance on the upcoming Contribution on Goods and Services (CBS) and Goods and Services Tax (IBS) on 2 December
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Australia: Government consults on 2018 GST reform operations
The Australian government’s Productivity Commission released an issues paper for consultation on how the federal government’s 2018 goods and services tax (GST) reforms are functioning. Australia’s system of federal financial relations
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Chile: SII clarifies deductibility of expenses backed by foreign invoices
Chile’s tax authority (SII) has issued Ruling No. 2271-2025 on 5 November 2025 on its website, clarifying that expenses backed by invoices issued by foreign suppliers remain deductible for First Category Income Tax purposes, as long as they are
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Liberia: Government announces 2026 draft budget, introduces presumptive corporate income tax
Liberia’s Ministry of Finance and Development Planning delivered the draft national budget for 2026, on 11 November 2025, focusing on fostering an inclusive economy, safeguarding stability, and delivering real, tangible improvements for its
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Canada: Ontario unveils 2025 tax measures, maintains unchanged corporate tax rates
Ontario's Finance Minister released the 2025 Fall Economic Statement, also known as the “2025 Ontario Economic Outlook and Fiscal Review,” on 6 November 2025. It maintains corporate tax and personal income tax unchanged while introducing several
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Canada: DoF releases 2025 budget, includes corporate tax and transfer pricing measures
Canada’s Department of Finance released the details of the Budget 2025 on 4 November 2025. The main tax measures of the budget are as follows: Business Income Tax Measures Immediate Expensing for Manufacturing and Processing
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Malaysia: Customs department amends service tax rules, introduces new exemptions
Malaysia’s Customs Department will implement revised service tax policies with additional exemptions from 1 July 2025, following the Ministry of Finance’s announcement of expanded SST regulations. Malaysia’s Customs Department has revised
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Lithuania adopts excise tax on sweetened drinks from 2026
Lithuanian Parliament approved an excise tax on sweetened drinks from 1 January 2026 to promote healthier consumption and fund the State Defence Fund. The Lithuanian Parliament (Seimas) has adopted amendments to the Law on Excise Duty,
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Brazil issues updated rules for indirect tax reporting
The updated guideline requires taxpayers to include IBS, CBS, and IS amounts in the total value reported on fiscal documents. Brazil has published new guidelines on the reporting of indirect taxes for the 2026 fiscal year, titled, Practical Guide
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Malaysia: RMCD updates sales tax exemptions for motorcycles, soya beans, machinery
RMCD updates sales tax exemptions on motorcycles, soya beans, and machinery. The Royal Malaysian Customs Department (RMCD) has issued updated guidance on sales tax exemptions granted by the Minister of Finance. Under Sales Tax Policy 1/2025,
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Ireland: Revenue issues guidance on new E-liquid products tax
Revenue published guidance to help suppliers comply with the new E-liquid products tax starting 1 November 2025. Ireland Revenue published detailed guidance on 30 September 2025 to assist suppliers in understanding their obligations under the new
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Canada announces GST/HST filing deadlines for distributed investment plans
These rules also impose responsibilities on both investors and securities dealers. Canada’s government announced that distributed investment plans, such as mutual fund trusts and investment limited partnerships are required to reach out to
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