Belgium introduces tiered capital gains tax on financial assets with progressive rates, exemptions
The Belgian Ministry of Finance has published Circular 2026/C/74 on 22 July 2026. Circular 2026/C/74 outlines the Belgian tax framework for financial capital gains following legislation enacted on 6 April 2026. Circular 2026/C/74 provides
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Argentina: ARCA simplifies VAT credit recovery for mining companies
Argentina's tax authority (ARCA) has announced that it has streamlined VAT credit recovery for mining exploration companies through General Resolution No. 5879/2026, published in the Official Gazette on 23 July 2026. The new procedure
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Ghana, Morocco Sign Customs Mutual Assistance Agreement
Ghana and Morocco signed an Agreement on Mutual Administrative Assistance in Customs Matters on 21 July 2026 during the Second Permanent Joint Commission for Cooperation (PJCC), according to a statement issued by Ghana's Ministry of Foreign Affairs
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Kenya: KRA extends 8% VAT rate on fuel products through 14 October 2026
The Kenya Revenue Authority (KRA) has published the Value Added Tax (Amendment of Rate of Tax) Order 2026 on 14 July 2026, in which it extended the temporary VAT reduction from 16% to 8% on premium gasoline (motor spirit), illuminating kerosene, and
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Italy introduces new tax codes for VAT recovery, entertainment tax, and air taxi levies
The Italian tax authority has issued three new tax codes through Resolution No. 28 on 23 July 2026 to streamline payment of taxes, interest, and penalties following recovery actions. The codes enable taxpayers to remit these amounts via the F24 and
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Netherlands sets escalating fines for trust UBO registration failures
The Netherlands Ministry of Finance has published a policy rule on 13 July 2026 outlining new administrative fine policies regarding the registration of ultimate beneficial owners (UBOs) for trusts and similar legal arrangements. Effective from 1
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Romania: ANAF consults new e-invoicing registration forms
Romania's National Agency for Fiscal Administration (ANAF) has published two draft orders for public consultation, which update the registration and deregistration forms, along with the related instructions, for the national electronic invoicing
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Poland: Sejm introduces new VAT warehousing regime, tightens abuse rules
Poland’s Sejm (lower house of the parliament) has enacted the draft law of 17 July 2026, which introduces a comprehensive set of amendments to the Polish VAT Act (the Act of 11 March 2004), encompassing the new VAT warehousing regime, compliance
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OECD publishes new BEPS Action 5 peer review findings
The OECD has released the latest peer review results on preferential tax regimes under BEPS Action 5, incorporating new conclusions on 13 tax regimes reviewed during the Forum on Harmful Tax Practices (FHTP) meeting held in May 2026. The latest
See MoreBelgium moves to dual e-reporting of invoices starting 2028
Belgium's Council of Ministers approved a preliminary draft law amending the Value Added Tax Code on 18 July 2026, requiring companies to report invoice data electronically in near real time to tax authorities starting in 2028. The measure
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Hungary: NAV cuts corporate allowances and tax types to meet RRF commitments, scraps trust and foundation tax exemptions
Hungary’s government has submitted Draft Law T/387 to the parliament on 17 July 2026 to implement commitments under the Recovery and Resilience Facility (RRF) plan by August 31, 2026, alongside other government programs. This legislative
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Chile: SII clarifies arm’s length pricing for intangibles
The Chilean tax authority (SII) has released Letter Ruling No. 1801, dated 20 July 2026, in response to a taxpayer inquiry on whether the DEMPE analysis set out in Chapter VI of the OECD Transfer Pricing Guidelines is an appropriate method for
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UK to reduce business tax for pubs, clubs, music venues
The UK government has announced a 20% reduction in business rates bills for pubs, social clubs and live music venues across England from April 2027, a move expected to benefit nearly 32,000 venues and save the typical pub an estimated GBP 1,100 in
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Luxembourg approves draft law for mandatory domestic B2B e-invoicing
Luxembourg's Government Council has approved a draft law to extend mandatory electronic invoicing to domestic business-to-business (B2B) transactions between businesses established in the country. The proposal, approved on 17 July 2026, remains
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Taiwan clarifies tax treatment of fines under Income Tax Act
Taiwan’s National Taxation Bureau of the Central Area, Ministry of Finance, stated that Article 38 of the Income Tax Act stipulates that losses incurred not in the course of operation of business or subsidiary business, as well as surcharges for
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Belgium introduces Pillar Two mandate for professional tax representatives
Belgium's Federal Public Service (SPF) Finance has updated its Pillar Two guidance on 23 July 2026 to introduce a new Pillar Two mandate, allowing companies to formally appoint a professional representative, such as an accounting firm or an
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Australia: ATO raises Division 7A benchmark interest rate for 2026–27
The Australian Taxation Office (ATO) has updated the Division 7A benchmark interest rate used to calculate the minimum repayments required for amalgamated private company loans to shareholders on 1 July 2026. If the required repayment is not met,
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UAE: FTA approves higher number of VAT refund claims for new residences in 2026
UAE’s Federal Tax Authority (FTA) has reported on 21 July 2026, an increase in the number of beneficiaries of the VAT Refund Scheme for UAE Nationals Building New Residences during the first half of 2026. The Authority approved approximately
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