Bangladesh to shift to April-March fiscal year from FY 2028-29
The Bangladesh government has approved a change in the national fiscal year, moving the cycle from the existing July-June period to April-March from FY 2028-29. The decision was approved at the 17th cabinet meeting on 17 August 2026, chaired by
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France expands tax credit for international film, TV productions
The European Commission has approved changes to France’s tax credit for foreign film and audiovisual productions, with the State aid authorisation published in the Official Journal of the European Union on 29 July 2026. The reform expands the
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US consults guidance on rollovers between retirement plans, individual retirement accounts
The Department of the Treasury and the Internal Revenue Service (IRS) announced on 12 August 2026 that it has provided guidance to simplify and standardise the rollover process by issuing sample forms for direct rollovers to or from a retirement
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Poland expands tonnage tax regime to boost shipping under national flag
Poland has published the Act of 17 July 2026 amending certain laws to support shipping enterprises and create favourable conditions for their operation under the Polish flag. Signed into law on 7 August 2026, it outlines a 2026 Polish legislative
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Hong Kong, Pakistan sign customs cooperation arrangement
The Hong Kong Government announced on 12 August 2026 that it had signed a Customs Cooperative Arrangement with Pakistan. The Commissioner of Customs and Excise, Chan Tsz-tat, signed the Customs Co-operative Arrangement between Hong Kong Customs
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Australia: ATO publishes foreign exchange rates for July 2026 to June 2027 income year
The Australian Taxation Office (ATO) has published monthly foreign exchange rates for the period from 1 July 2026 to 30 June 2027. The ATO has clarified that all foreign income, deductions, and foreign tax paid must be translated into Australian
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New Zealand clarifies corporate income tax treatment of amalgamations
New Zealand Inland Revenue issued Technical Decision Summary No. 26/11 on 14 August 2026, setting out the corporate income tax consequences of a proposed amalgamation involving several New Zealand resident companies under common ownership. The
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Sweden proposes Pillar Two Safe Harbours for MNE Groups
Sweden’s Ministry of Finance has proposed amendments and additions to the Swedish Additional Tax Act (lagen om tilläggsskatt) to align the legislation with the latest Administrative Guidance issued by the OECD/G20 Inclusive Framework on
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US announces tax relief for individuals, businesses in Northern Mariana Islands affected by typhoonÂ
The US Internal Revenue Service (IRS) has announced, on 7 August 2026, tax relief for individuals and businesses in the Commonwealth of the Northern Mariana Islands affected by Super Typhoon Bavi that began on 4 July 2026. These taxpayers now have
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European Commission publishes guidance documents to support CBAM implementation
The European Commission has published a series of ten guidance documents to help non-EU operators with the implementation of the Carbon Border Adjustment Mechanism (CBAM) during its definitive period on 14 August 2026. The CBAM's definitive
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Switzerland adopts dispatch for temporary VAT increase to fund security spending
Switzerland’s Federal Council has adopted a dispatch proposing a temporary increase in Value Added Tax (VAT) to strengthen the country’s security and defence capabilities. At its meeting on 12 August 2026, the Federal Council proposed
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US: Treasury, IRS issue final backup withholding regulations for third-party network transactions
The US Department of the Treasury and the IRS have issued final regulations (TD 10053) adopting, without changes, the proposed regulations (REG-112829-25) published on 9 January 2026. The regulations align the backup withholding rules for
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Brazil mandates national e-invoicing for Simples Nacional businesses from November 2026
Brazil’s tax authority, the Federal Revenue Service (RFB), announced on 14 August 2026 that it is introducing a new timeline for mandatory electronic invoicing for micro and small businesses under the Simples Nacional tax regime as part of the
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Taiwan: Tax Bureau clarifies social housing rental tax exemption rules
Taiwan’s Central District National Taxation Bureau of the Ministry of Finance said rental income earned by business operators from leasing housing for social housing purposes may be exempt from business tax if the property meets the requirements
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Montenegro issues rulebook on cross-border tax reporting, transfer pricing
Montenegro’s government has published Rulebook No. 10/1-1-01-040/26-2637/4 in the Official Gazette on 7 August 2026, clarifying the automatic exchange of information (AEOI) with EU member states and the European Commission (EC) on previous
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Ukraine clarifies tax breaks for defence city residents under DIC support regime
Ukraine’s State Tax Service published Information Letter No. 3/2026 on 11 August 2026, setting out the tax incentives available to residents of the Defence City regime for enterprises in the defence-industrial complex (DIC). The regime was
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Uruguay sets new IRPF deadline for foreign capital income
Uruguay’s General Tax Directorate (DGI) has amended certain Personal Income Tax (IRPF) deadlines for withholding agents and taxpayers receiving income from real estate leases, capital gains and foreign movable capital income through DGI Resolution
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Sri Lanka: IRD sets deadline for VAT payment, returns for July 2026
Sri Lanka’s Inland Revenue Department (IRD) has reminded taxpayers that Value Added Tax (VAT) for July 2026 must be paid by 20 August, with the corresponding VAT return due online by 31 August. The monthly filing applies under tax type code 70,
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