Saturday, August 08, 2026
Japan’s Cabinet has submitted the 2026 tax reform package to the National Diet of Japan, proposing amendments to global minimum tax rules, income tax provisions and consumption tax regulations. The bill updates Japan’s global minimum tax legislation to implement the Side-by-Side Safe Harbour. Under the proposal, a multinational enterprise group whose ultimate parent entity is...
The US Internal Revenue Service (IRS) has published a new schedule for tax year 2025 on 2 March 2026, which taxpayers will use to realise important tax benefits of the One, Big, Beautiful Bill, including no tax on tips, no tax on overtime, no tax on car loans, and no tax on seniors. Schedule 1-A...
The European Commission announced that it approved a EUR 1.1 billion French scheme on 27 February 2026 to support strategic investments that add clean technology (cleantech) manufacturing capacity in line with the objectives of the Clean Industrial Deal. This measure will contribute to the transition towards a net-zero economy. The scheme was approved under the...
Romania has published Emergency Ordinance No. 8 of 24 February 2026 in the Official Gazette, which introduced a comprehensive package of fiscal and investment measures aimed at supporting economic recovery. Emergency Ordinance no. 8/2026 establishes a comprehensive framework for Romania’s economic relaunch, focusing on stimulating massive investments, technological modernisation, and fiscal consolidation through voluntary compliance....
Sri Lanka’s government has issued a Bill amending the Inland Revenue Act on 20 February 2026, marking substantive tax changes and compliance reforms. Published in the gazette on 24 February 2026, it introduces capital gains tax rate revisions and targeted relief for taxpayers and investors. Capital gains tax increases The amendment raises capital gains tax...
The Netherlands tax administration announced on 2 March 2026 that taxpayers can now submit their inheritance and gift tax returns electronically for the 2026 tax year. Taxpayers who receive gifts exceeding certain thresholds must file a return by 1 March 2027. Children receiving more than EUR 6,908 from their parents during 2026 are required to...
The Hong Kong Inland Revenue Department (IRD) has announced that an income and capital tax treaty was signed with Kyrgyzstan on 2 March 2026, marking the first comprehensive tax agreement between the two jurisdictions. Under the agreement, the treaty applies to Hong Kong profits tax, salaries tax, and property tax. On the Kyrgyzstan side, it...
Turkey’s Revenue Administration has released an official guide explaining Provisional Article 67 of the Income Tax Law, which addresses the taxation of financial investments for individual taxpayers. The guide details the treatment of various assets, including stocks, bonds, deposit interest, and participation accounts, and distinguishes between incomes subject to withholding tax and those that are...
Croatia’s government has presented an amendment to the Value Added Tax (VAT) Act on 27 February 2026, extending the 5% reduced VAT rate on key energy products beyond 31 March 2026. Without this extension, energy prices would rise from 1 April 2026, negatively impacting households and businesses. The reduced 5% rate applies to natural gas,...
The Greek Public Revenue Authority (AADE) has issued Decision A. 1046 on 18 February 2026, introducing a specific method for the deduction of input VAT on immovable property used for both deductible and non-deductible activities. The decision covers VAT incurred on the purchase, construction, or improvement of such property. Under the new approach, taxable persons...