Saturday, August 08, 2026
Serbia’s Ministry of Finance has approved amendments to the Rulebook on Electronic Invoicing, published in Official Gazette No. 30/2026, with the changes applying from tax periods commencing 1 April 2026. The regulations define the mandatory procedures for registering and accessing the electronic invoice system (SEF), specifying that entities must use a high-security electronic identification portal....
The Inland Revenue Authority of Singapore (IRAS) announced that it signed an income tax treaty with Bhutan on 12 May 2026. The agreement was signed in Singapore by Jeffrey Siow, Acting Minister for Transport and Senior Minister of State for Finance, Republic of Singapore and HE Lyonpo Lekey Dorji, Minister of Finance, Royal Government of...
Taiwan’s National Taxation Bureau of the Southern Area, Ministry of Finance, stated that foreign individuals who resided in the Republic of China (R.O.C.) for a total of 183 days or more during the year 2025, and who did not depart the R.O.C. before 30 April 2026 , shall file their individual income tax returns from...
Taiwan’s Taipei National Taxation Bureau of the Ministry of Finance stated that the balance of output tax minus input tax for the current period constitutes the business’s payable or refundable tax amount. Therefore, regardless of whether there is any sales revenue, businesses must file returns. Only when there is a refundable tax amount may it...
Taiwan’s Taipei National Taxation Bureau of the Ministry of Finance clarified that taxpayers who have obtained income sourced from Mainland China are required to declare and pay income tax together with their individual consolidated income tax return. The Bureau explained that, according to Article 24, Paragraph 1 of the Act Governing Relations between the People...
Quebec tax authority, Revenu Quebec, announced, on 4 May 2026, an increase in the small business deduction rate and a reduction in the small business tax rate for taxation years beginning after 29 April 2026. Under certain conditions, a Canadian-controlled private corporation (CCPC) can benefit from a reduction in the 11.5% general income tax rate....
The UK HM Revenue & Customs (HMRC) is issuing a second round of letters to taxpayers who claimed Business Asset Disposal Relief (BADR) in their 2024/25 Self Assessment tax return and may have exceeded the GBP 1 million lifetime limit. The letters, sent to individuals whose claims appear to breach the cap, ask recipients to...
Sri Lanka’s government has released the Value Added Tax (Amendment) Bill, introducing significant changes to the VAT Act No. 14 of 2002. The amendments focus mainly on digital services, updated tax rates, revised registration thresholds, and strengthened compliance measures. Key rate and threshold changes VAT on financial Services The VAT rate on financial services will...
Taiwan’s Dongshi Office, National Taxation Bureau of the Central Area, Ministry of Finance, clarified that foreign nationals filing individual income tax returns in Taiwan are subject to different filing rules depending on their tax residency status. Taxpayers should take note to avoid violations of the law. Tax residency status is classified as follows: Non-resident (...
Indonesia’s Directorate General of Taxes (DJP) issued Regulation No. PER-6/PJ/2026 on 4 May 2026, setting out procedures for complying with Pillar Two global minimum tax obligations under Regulation No. 136 of 2024. PER-6/PJ/2026 establishes comprehensive regulations for global minimum tax administration in Indonesia through 13 chapters. This regulation targets Multinational Enterprise Groups with annual revenues...