Thursday, October 29, 2026
Austria has amended Section 132a of its Federal Fiscal Code (BAO) to simplify the electronic issuance of fiscal receipts, effective 1 October 2026. The change covers cash payments, including card payments, vouchers accepted instead of cash and other comparable electronic payment methods. A business can now fulfil its receipt obligation by letting the customer access...
The Australian Taxation Office (ATO) announced on 19 October 2026 that it has extended its offer to remit general interest charge (GIC) on family trust distribution tax (FTDT) liabilities. The offer now runs until 30 June 2027, six months longer than planned. How the remission works The offer started in August 2025. Trustees, electing entities...
The Czech Chamber of Deputies has approved the 2025 Czech Republic–Malta Income and Capital Tax Treaty on 15 October 2026. Following the Czech Senate’s approval on 29 July 2026, the treaty has now been approved by both chambers of the Czech Parliament. The treaty aims to prevent double taxation and income tax evasion between the...
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on business expense deductions, clarifying new rules for Green Certificates and Green Credits (GCCs). The previous guidance on carbon credits has been removed, as their tax treatment is now covered under the GCC guidance. Under the guidance, businesses can deduct expenses that are wholly...
The Czech Chamber of Deputies has approved the 2025 Czech Republic–Tanzania Income Tax Treaty on 15 October 2026. Following the Czech Senate’s approval on 15 April 2026, the treaty has now been approved by both chambers of the Czech Parliament. The treaty aims to eliminate double taxation on income and prevent tax evasion and avoidance...
The Czech Republic Chamber of Deputies has approved the 2025 Czech Republic–Kenya Income Tax Treaty on 15 October 2026. Following the Czech Senate’s approval on 6 May 2026, the treaty has now received approval from both chambers of the Czech Parliament. The treaty aims to prevent double taxation and combat tax evasion. It covers personal...
Norway and Thailand have signed a new income tax treaty during the 2026 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in Bangkok on 15 October 2026. The treaty aims to eliminate double taxation on income and prevent tax evasion and avoidance between the two countries. The convention also aims to...
The Philippines Bureau of Internal Revenue (BIR) has updated its tax rules on senior citizen discounts for the first time since 2010. The changes explain how pharmaceutical companies, distributors, and retailers can claim tax deductions when they share the cost of discounts on medicines. The amendments appear in Revenue Regulations No. 7 of 2026 issued...
The US Internal Revenue Service (IRS) announced on 16 October 2026 that it has started sending refunds to more than 50,000 taxpayers who used adoption tax credit carryforwards. The agency expects most eligible taxpayers to receive their refunds by the end of the year. A new rule for tax year 2025 The Treasury Department has...
Kuwait has approved the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) through Decree-Law No. 116 of 2026, published in the Official Gazette Kuwait Al-Youm on 18 October 2026. The agreement aims to strengthen international tax transparency, facilitate the automatic exchange of information between tax authorities and help identify transfer pricing...