Saturday, September 19, 2026
Taiwan’s Ministry of Finance issued a notice on 28 August 2026 clarifying the treatment of real estate transaction losses for profit-seeking enterprises selling properties subject to different tax rates during the same year. Under Articles 4-4 and 24-5 of the Income Tax Act, enterprises selling houses or land acquired after 1 January 2016 must calculate...
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) opened a public consultation on a draft classification of violations and penalties under the Real Estate Transaction Tax (RETT) regime on 3 September 2026. The proposal, prepared under Article 16 of the RETT Law, aims to establish a consistent framework for determining penalties and ensure proportionality between...
Singapore’s IRAS has updated its “Preparing a Tax Computation” guidance to explain how companies should determine their tax filing obligations following a change in financial year end. It covers cases where a company’s financial statements extend beyond 12 months and the resulting basis period may fall across two Years of Assessment (YA). Companies must notify...
Officials from Hong Kong and Uzbekistan will hold their first round of negotiations on an income tax treaty from 14 to 18 September 2026, according to an update from the Hong Kong Inland Revenue Department. If an agreement is reached, it will help prevent double taxation and combat fiscal evasion between the two countries. Any...
The OECD has released its annual report, Tax Policy Reforms 2026, on 8 September 2026, which examines and compares tax reforms introduced, or announced, in 2025 across 92 jurisdictions. The analysis reveals that while governments pursued growth-focused measures, responses to mounting fiscal pressures remained measured overall. Personal income tax becomes more progressive Tax authorities across...
The US Internal Revenue Service (IRS) announced on 8 September 2026 the opening of applications for the 2027 Compliance Assurance Process (CAP) programme, with submissions due by 30 October 2026. Notification of acceptance decisions will follow in February 2027. Real-time issue resolution for large corporations Since its 2005 launch, CAP has enabled major corporate taxpayers...
Brazil has published Complementary Law No. 236 of 4 September 2026, amending the National Tax Code (Law No. 5.172 of 1966) to enhance tax collection and limit the application of penalties. The legislation promotes consensual dispute resolution, establishes national standards for administrative tax proceedings, caps and moderates tax penalties, and aligns tax administration practices with...
The Australian Taxation Office (ATO) announced on 10 September 2026 that it updated the web guidance to help eligible companies understand the steps required to apply for the Hydrogen Production Tax Incentive (HPTI). The Australian Government has established the Hydrogen Production Tax Incentive (HPTI) as part of its Future Made in Australia package, a policy...
Uruguay has issued Decree No. 206/026, replacing the exemption from the Pillar Two Qualified Domestic Minimum Top-Up Tax (QDMTT), known as the Impuesto Mínimo Complementario Doméstico (IMCD), for entities covered by certain fiscal stability clauses. The decree, promulgated on 31 August 2026 and published on 8 September 2026, establishes a compensation mechanism for eligible taxpayers...
Canada’s Department of Finance announced on 9 September 2026 that it has concluded its pre-budget consultation process, drawing on input from workers, businesses, indigenous leaders, and individual citizens across the country. The consultations aim to shape fiscal and economic policy in response to ongoing affordability challenges and recent US tariff actions. Scope of consultation efforts...