Saturday, August 08, 2026
New Zealand’s Inland Revenue launched a public consultation on 6 May 2026, regarding a new GST guideline for unincorporated bodies. The guide helps taxpayers identify which GST rules apply to their specific organisational structure. Some GST rules apply specifically to unincorporated bodies and not to co-ownership or cost-sharing arrangements. Other specific rules apply only to...
The UAE Ministry of Finance (MoF) has announced targeted amendments to the ministerial decisions governing the eInvoicing system, including an extension of the deadline for the appointment of an Accredited Service Provider (ASP) from 31 July 2026 to 30 October 2026. This decision is introduced through an amendment to Ministerial Decision No. 244 of 2025...
Bahrain’s Council of Representatives has confirmed its approval of the law ratifying the income tax treaty with Saudi Arabia at its first extraordinary session held on 7 May 2026. Bahrain and Saudi Arabia signed a tax treaty on 3 December 2025. The agreement aims to address double taxation and promote investment. Earlier, the Saudi Council...
Austria’s Federal Ministry of European and International Affairs announced that Austria and Uzbekistan signed an amending protocol to the 2000 income and capital tax treaty on 7 May 2026. The protocol was signed by officials from both countries during bilateral discussions. The protocol is the first amendment to the treaty and will take effect once...
China has introduced sweeping regulations to bolster its economic defences and counter what it views as foreign overreach, marking a significant escalation in tools available for US-China competition. New supply chain controls target foreign firms On 7 April 2026, the State Council released the Regulations on Industrial and Supply Chain Security (Decree No. 834), granting...
President Donald Trump’s upcoming summit with Chinese President Xi Jinping in Beijing on 14-15 May 2026 is expected to introduce a fundamental change in how the US manages its economic relationship with China. The proposed Board of Trade framework signals that Washington has abandoned decades of efforts to transform China’s state-dominated economy and will instead...
Bulgaria’s National Assembly is considering proposals to raise the mandatory Value Added Tax (VAT) registration threshold to EUR 85,000, up from the current level of around EUR 50,130–51,130. Members of parliament have submitted two separate proposals on the change. The measures will now proceed to voting in two readings. A related draft law to amend...
Spain’s Ministry of Finance has announced that Brazilian interest on net equity, known as juros sobre o capital próprio (JCP), will be treated as interest under the 1974 tax treaty between Spain and Brazil. This clarification follows an exchange of diplomatic notes signed on 25 November 2025 and 12 March 2026 by the competent authorities...
Angola will introduce a tourism levy on international travellers beginning in late July 2026, following the publication of Presidential Legislative Decree No. 4/26 on 30 April 2026. The Special Contribution for Tourism requires international visitors to pay 5% of their accommodation costs at classified tourist establishments, including hotels, resorts, and local lodging facilities. The charge...
In a Chief Counsel Advice memorandum dated 27 January 2026 and released publicly on 1 May 2026, the US Internal Revenue Service (IRS) ruled that a multinational corporation could retroactively adopt a more detailed cost allocation approach for intercompany services—and use the adjustment to claim setoff relief under federal transfer pricing regulations. According to the...