Ireland updates Section 110 guidance on foreign withholding tax
Irish Revenue has updated its guidance on the tax treatment of foreign withholding tax for Section 110 qualifying companies, setting out how relief may be available under Schedule 24 where income has been taxed at source in another
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Saudi Arabia: ZATCA urges VAT businesses to file tax returns for July
The Saudi Zakat, Tax and Customs Authority (ZATCA) has urged business sector establishments subject to VAT, with goods and service revenues exceeding SAR 40 million, to file their tax returns for July 2026 by no later than 31 August 2026. ZATCA
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US: IRS launches digitally authenticated tax compliance report for individual taxpayers
The US Internal Revenue Service (IRS) announced on 20 August 2026 that a digitally authenticated Tax Compliance Report is available through the IRS Individual Online Account. Taxpayers can securely obtain and download the report when applying for
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US: IRS states interest rates to remain unchanged for Q4 2026
The US Internal Revenue Service (IRS) announced on 21 August 2026 that the interest rates will remain the same for the calendar quarter beginning 1 October 2026. For individuals, the rate for overpayments and underpayments will be 7% per year,
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US: IRS clarifies limitation on deduction for business interest expense
The US IRS has published updated Questions and Answers about the limitation on the deduction for business interest expense, dated 19 August 2026. The updated FAQs are as follows: Topic A: General information Q1. What is the section 163(j)
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Portugal updates VAT correction, return rules
Portugalโs tax authorities issued Circular Letter No. 25120/2026 on 28 July 2026, updating procedures for invoice rectification and VAT adjustments. The guidance confirms that credit notes should be used when the taxable value or VAT amount
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Australia tech levy takes effect against platforms avoiding news deals
Australia passed legislation on 20 August 2026 that imposes financial penalties on tech companies that refuse to pay local publishers for news. The News Bargaining Incentive taxes digital platforms 2.5% of their Australian advertising revenue unless
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Switzerland to introduce individual taxation in 2032
Switzerland will introduce individual taxation from 2032 after the Federal Council decided on 19 August 2026 to use the latest date permitted under the Federal Act on Individual Taxation. The decision gives the cantons additional time to make the
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Korea (Rep.) plans response fund to use tax windfalls for youth, AI
Korea (Rep.) plans to establish a future response fund to use additional tax revenue from strong economic periods to support younger people and invest in future growth industries, the budget ministry said on Friday, 21 August 2026. The fund would
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South Africa: SARS consults on digital VAT modernisation
The South African Revenue Service (SARS) opened public consultation on the SARS Consultation Paper on Value Added Tax (VAT) Modernisation: E-invoicing, Interoperability Framework and E-reporting in August 2026, seeking stakeholder views on plans to
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India enacts tax amendments with corporate rate changes, extended electronics incentives and new exemptions
India published the Taxation and Other Laws (Amendment) Act, 2026 (Act No. 21 of 2026) in the Official Gazette on 17 August 2026 after receiving the Presidentโs assent. The legislation amends the Income-tax Act, 2025 and other laws, with most
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Lithuania updates corporate tax guidance on CFC control, PE, group definitions
The Lithuanian State Tax Inspectorate (VMI) updated the commentary to the Law on Corporate Income Tax on 19 August 2026, with changes concerning several definitions under Article 2 of the Lithuanian Corporate Income Tax Law (PMฤฎ). The guidance
See MoreUS: Treasury, IRS propose eligibility rules for refundable individual tax credits
The US Treasury and IRS issued the proposed regulations on 18 August 2026. The rules would apply the eligibility requirements under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA) to the refundable portions of
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Australia: Senate passes tax reform bill introducing permanent loss carry-back, AUD 20,000 asset write-off
The Australian Senate approved the Treasury Laws Amendment (Tax Reform No. 2) Bill 2026 on 19 August 2026, following its passage by the House of Representatives on 18 August 2026. The Bill is a legislative package designed to implement key
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Slovak Republic clarifies corporate minimum tax rules, offers 50% reduction for 20% disabled workforce
The Financial Administration of the Slovak Republic has published new guidelines on the minimum tax applicable to legal entities, taking into account amendments introduced by Law 261/2025 of 24 September 2025. The guide explains the Slovak
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China: New offshore trust tax forces wealthy to reassess holdings
Chinaโs tax authorities have implemented a 20% levy on offshore trust structures, creating immediate pressure on wealthy mainland investors to recalculate their liabilities and restructure holdings. The new rules, introduced in late July 2026,
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Spain clarifies Pillar Two exclusion for publicly owned commercial entities
Spain's General Directorate of Taxes (DGT) has ruled that publicly owned commercial entities are not automatically excluded from the scope of Pillar Two, and that qualification as an excluded governmental entity must be assessed on a case-by-case
See MorePortugal clarifies VAT rules for urban rehabilitation works
Portugal has clarified the conditions for applying the reduced VAT rate to urban rehabilitation works, confirming that the 6% rate applies where properties or public spaces are located within legally designated Urban Rehabilitation Areas (ARUs),
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