Philippines: Senate to reduce VAT rate
The Philippine Senate is reviewing draft Bill No. SBN-1916, known as the VAT Reduction Act, was introduced on 26 February 2026. The VAT Reduction Act proposes lowering the Value-Added Tax (VAT) in the Philippines from 12% to 10% to align with the
See More
Saudi Arabia: ZATCA reminds establishments to file February withholding tax
The Saudi Zakat, Tax and Customs Authority (ZATCA) has called upon establishments subject to withholding tax in the Kingdom to submit their tax returns for February 2026, no later than 10 March 2026. This announcement was made on 5 March
See More
Romania: MoF announces fiscal reforms to combat tax evasion, reduce bureaucracy
Romania’s government announced on 5 March 2026 that it has approved a new Emergency Ordinance, proposed by the Ministry of Finance, designed to strengthen tax collection mechanisms while simplifying administrative procedures for businesses. The
See More
Iceland: Court of Appeals rule taxpayers must prove arm’s length pricing in related-party deals
The Icelandic Court of Appeals (Landsréttur) upheld the ruling of the District Court of ReykjavÃk in Iceland’s first transfer pricing case (No. 213/2025) on 19 February 2026. The court confirmed that taxpayers must prove that related-party
See More
Romania: ANAF postpones RO e-invoice mandate for individual entrepreneurs
Romania’s tax authority, the National Tax Administration Agency (ANAF) has revised electronic invoicing regulations, granting individual service providers additional time to comply with mandatory registration requirements on 3 March
See More
US: IRS publishes updated depreciation tables for passenger vehicles
The US Internal Revenue Service (IRS) has published Revenue Procedure 2026-15, providing the updated 2026 depreciation tables for passenger automobiles. This revenue procedure provides: (1) two tables of limitations on depreciation deductions for
See More
Poland: MoF highlights option to allocate 1.5% of agricultural tax to authorised entities in 2026
Poland’s Ministry of Finance announced on 4 March 2026 that under the Agricultural Tax Act, natural persons and agricultural production cooperatives paying this tax may allocate 1.5% of their agricultural tax to eligible organisations listed by
See More
Italy: Food supplements, medications subject to 10% reduced VAT rate
The Italian Revenue Agency has clarified on 4 March 2026 that certain medical products and food supplements qualify for a reduced VAT rate of 10%, but only after obtaining proper classification from the customs agency. Medical devices for wound
See More
Belgium: Tax authorities announce VAT provision account to launch in May 2026
Belgium’s tax authority, the Federal Public Service Finance, announced on 4 March 2026 that Belgium will replace the existing VAT current account with a VAT provision account from 1 May 2026, as part of its tax modernisation initiative launched
See More
Brazil launches tax calculator for betting, fantasy sports winnings
Brazil’s tax authority, the Federal Revenue Service (RFB) unveiled a digital tool on 2 March 2026 to help citizens calculate income tax on earnings from betting platforms (BETs) and fantasy sports competitions. Taxpayers must use data from
See More
Philippines: Tax court upholds dividend withholding tax exemption for foreign government investors
The Philippine Court of Tax Appeals ruled on 26 February 2026 concerning the withholding tax exemption on dividends under Section 32(B)(7)(a) of the National Internal Revenue Code (NIRC) of 1997. Section 32(B) excludes certain income items from
See More
Hong Kong to Gazette Inland Revenue Amendment Bill 2026
The Hong Kong Government will gazette the Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026 on 6 March, introducing concessionary tax measures announced in the 2025 Policy Address and the 2026-27
See More
Namibia: 2026-27 budget includes accelerated depreciation for businesses
Namibia's Parliament has released the Budget Statement for the Fiscal Year 2026-27 on 26 February 2026, introducing significant changes to the tax code to support both individuals and businesses. The key tax measures are: Corporate and
See More
Germany: Tax Authorities restrict treaty benefits on dividend payments to US parent companies
The German Federal Central Tax Office (Bundeszentralamt für Steuern, BZSt) has recently adopted a restrictive administrative practice concerning withholding tax on dividend distributions paid by German companies (GmbHs) to US parent companies. This
See More
Sweden to cut VAT on dance events
The Swedish Government has submitted a bill to the Riksdag proposing a reduced VAT rate on admission to dance events, including dance band performances. The measure, announced in the 2026 Budget Bill, aims to promote dance and cultural activities
See More
Serbia sets 2025 supplementary individual tax threshold
Serbia has announced the threshold and rates for the 2025 supplementary annual tax on individuals, affecting both residents and non-residents. Individuals whose net income exceeds RSD 5,439,096, equal to three times the average annual salary, are
See More
Hong Kong to raise stamp duty on high-value homes
Hong Kong’s Stamp Duty (Amendment) Bill 2026 will be gazetted on 6 March to increase the stamp duty rate for residential property transactions where the amount or value of consideration exceeds HKD 100 million, from 4.25% to 6.5%, as announced in
See More
Ethiopia: Council of Ministers unveils new investment tax, customs incentives
Ethiopia’s Council of Ministers has introduced Regulation No. 586/2026, published in the Official Gazette on 23 February 2026, establishing a new system of tax and customs incentives to encourage investment in strategic sectors. The regulation
See More