Lithuania clarifies thin capitalisation rules on related-party debt
Lithuania’s State Tax Inspectorate under the Ministry of Finance (VMI) has updated its commentary on the Law on Corporate Income Tax, providing further clarification on Thin Capitalisation rules, controlled debt and the treatment of financing
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Lithuania issues guidance on new VAT rules
Lithuania's State Tax Inspectorate has issued guidance on 11 August 2026 confirming amendments to the Law on Value Added Tax (No. IX-751), adopted as Law No. XV-1036 on 18 June 2026, to transpose Council Directive (EU) 2025/516, known as VAT in the
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Italy gazettes decree reshaping local tax administration, fiscal federalism
The Italian Revenue Agency announced on 12 August 2026 that it published Legislative Decree No. 147/2026 in the Official Gazette No. 185 on 11 August 2026, which entered into force the same day. Legislative Decree No. 147/2026 introduces specific
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Taiwan announces 2026 provisional income tax return filing dates
Taiwan's National Taxation Bureau of the Southern Area, under the Ministry of Finance, has announced that the filing period for the provisional income tax return relating to profit-seeking enterprise income tax for the 2026 fiscal year will run from
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Cambodia: MEF abolishes stamp duty penalties on property transfers
Cambodia’s Ministry of Economy and Finance ("MEF") on 4 August 2026 issued Notice No. 008 on the Principles of Exemptions and Tax Concessions on the Transfer of Ownership or Possession of Immovable Property ("Notice 008"), introducing a package of
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Thailand updates penalty, surcharge waiver rules
The Thai Revenue Department has issued two new orders, Order No. 369/2569 (2026) and Order No. 370/2569 (2026) on 2 July 2026, which set out the criteria and delegation of authority for waiving or reducing penalties and surcharges related to
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US: FinCEN permanently removes beneficial ownership reporting requirement for small companies
The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on 11 August 2026 that it has issued a final rule permanently removing the requirement for US companies and US persons to report beneficial ownership
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Denmark extends limitation period for claiming dividend tax refunds
The Danish Tax Agency has extended the limitation period for claiming a refund of Danish dividend tax from three years to five years following a June 2026 decision by the Danish Supreme Court. The agency has updated its guidance on claiming a refund
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Ghana: Parliament passes income tax bill raising presumptive tax threshold
Ghana’s Parliament has passed the Income Tax (Amendment) Bill, 2026, amending the Income Tax Act, 2015 (Act 896) to revise personal income tax bands for resident individuals and raise the turnover threshold for the presumptive tax regime. The
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South Africa: SARS urges schools to apply for VAT deregistration
The South African Revenue Service (SARS), in a media release dated 7 August 2026, urged schools registered under the South African Schools Act that are currently VAT vendors to apply for cancellation of their VAT registration following legislative
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Italy reforms tax justice rules for magistrates
Italy has published Legislative Decree No. 149 of 7 August 2026 in the Official Gazette No. 185 of 11 August 2026. The legislative decree introduces comprehensive reforms to Italy’s tax justice system, strengthening the legal framework
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Serbia: MoF announces e-invoicing rulebook amendments, expands VAT reporting functions
Serbia’s Ministry of Finance published an updated Rulebook on Electronic Invoicing in the Official Gazette No. 71/2026 on 5 August 2026, introducing significant enhancements to the Sistem e-Faktura (SEF) platform’s VAT reporting functions.
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Qatar: GTA launches online meeting booking service through the Dhareeba platform
Qatar’s tax authority (GTA) has announced on 12 August 2026 the launch of its online meeting booking service through the Dhareeba Platform, as a new step in the Authority’s digital transformation journey to develop communication channels with
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Romania: Personal imports of excisable goods subject to new frequency, quantity controls
Romania’s Ministry of Finance announced on 10 August 2026 that it has tightened rules on personal imports of excisable goods from other EU countries, with a joint order (Order 1613/03.08.2026) issued by its Customs Authority and tax
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US: IRS updates FAQs on qualified overtime compensation deduction
The US Internal Revenue Service (IRS) has updated its frequently asked questions on the deduction for qualified overtime compensation, providing further clarification on eligibility, calculation, reporting and withholding requirements. The
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US: IRS expands business tax account features for eligible businesses
The US Internal Revenue Service announced, on 6 August 2026, new and expanded features for Business Tax Account (BTA) users, giving eligible businesses and organisations more ways to view digital notices, make payments, and access and manage federal
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India: MoF issues new central excise notifications for petroleum products
India’s Ministry of Finance (MoF) has issued three notifications revising Central Excise duty rates on select petroleum products. The Department of Revenue issued Notification Nos. 40/2026-Central Excise, 41/2026-Central Excise and
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UAE announces new minimum excise price for e-liquids starting September 2027
The Ministry of Finance has announced the issuance of a Decision on the minimum Excise Price for Tobacco Products and Liquids used in Electronic Smoking Devices and Tools. Under the Decision, the existing minimum Excise Price will continue to
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