Tuesday, April 07, 2026
Belgium’s Federal Public Service (SPF) Finance announced on 23 March 2026 the release of updated draft versions of the supplementary national tax returns, explanatory notes, and XSD schema for tax years 2024 and 2025. The supplementary national tax represents Belgium’s qualified domestic minimum top-up tax (QDMTT), introduced as required by the Pillar Two global minimum...
South Africa has introduced steep import duties on structural steel from China and Thailand after finding evidence of dumping. Chinese steel will face a 74.98% tariff, while Thai steel will be hit with a 20.32% duty. The International Trade Administration Commission of South Africa (ITAC) said the steel was being sold below normal market prices,...
Taiwan’s Ministry of Finance (MoF) has announced that the 2026 property tax (tax year 115) will be levied from 1 May 2026. Taxpayers whose properties qualify for preferential tax rates or exemptions must submit applications to their local tax authority by 23 March to ensure the benefits apply for this year. Under the House Tax...
Sri Lankan Inland Revenue Department (IRD) has announced that, starting from the Year of Assessment 2025/2026, all employers registered under the Advance Personal Income Tax (APIT) scheme must include each employee’s Taxpayer Identification Number (TIN) in Schedule 01 of the APIT Annual Statement. Employers who need TINs for their employees must send a formal request...
The Ministry of Finance clarified, on 19 March 2026, that if a business’s monthly sales do not reach TWD 200,000, it may continue to be exempt from issuing uniform invoices. Instead, business tax is levied at a fixed rate of 1%. Contrary to some media reports, the exemption system for uniform invoices is not being...
Bolivia has introduced tax reforms through Supreme Decree 5563 to encourage foreign investors to reinvest profits domestically and support economic growth. The decree was published in the Official Gazette on 2 March 2026 and took effect immediately. Reinvestment incentives for foreign investors The new framework offers significant tax benefits to non-resident shareholders and foreign entities...
The Australian Taxation Office (ATO) issued a Decision Impact Statement on 19 March 2025, concerning the High Court ruling in PepsiCo Inc v Commissioner of Taxation, handed down in August 2025. Summary of decision The High Court dismissed the Commissioner’s appeal and found that PepsiCo Inc (PepsiCo) and Stokely-Van Camp Inc (the Taxpayers) were not...
The Inland Revenue Board of Malaysia (IRBM) has released Practice Note No. 1/2026, dated 27 February 2026, outlining the tax treatment of distributions from retail money market fund (RMMF) unit trusts. The key aspects of this tax treatment are summarised below: 1. This Practice Note is issued to clarify the tax treatment for unit holders...
The Central Bank of Russia (CBR) has reduced the key interest rate from 15.5% to 15%. The CBR’s key interest rate is applied in calculating interest deductions and the interest on late payment of overdue taxes. This announcement was made on 20 March 2026 and took effect yesterday, 23 March 2026. Earlier, the Board of...
UK’s His Majesty’s Revenue and Customs (HMRC) updated its country-by-country reporting (CbCR) guidance on 17 March 2026, clarifying which entities must report, how to register and submit reports, and the process for agents seeking authorisation. CbCR applies to large multinational enterprises (MNEs) with consolidated revenues above EUR 750 million. These MNEs must provide annual reports...