Saturday, August 29, 2026
Romania’s Ministry of Finance announced on 10 August 2026 that it has tightened rules on personal imports of excisable goods from other EU countries, with a joint order (Order 1613/03.08.2026) issued by its Customs Authority and tax administration, which has now been published in the Official Gazette The new framework establishes what actually counts as...
The US Internal Revenue Service (IRS) has updated its frequently asked questions on the deduction for qualified overtime compensation, providing further clarification on eligibility, calculation, reporting and withholding requirements. The updated guidance issued on 6 August 2026, is contained in Fact Sheet FS-2026-13 and supersedes the earlier FAQs in FS-2026-01 issued in January 2026. Deduction...
The US Internal Revenue Service announced, on 6 August 2026, new and expanded features for Business Tax Account (BTA) users, giving eligible businesses and organisations more ways to view digital notices, make payments, and access and manage federal tax account information online. Business Tax Account is an online self-service platform that allows authorised users of...
India’s Ministry of Finance (MoF) has issued three notifications revising Central Excise duty rates on select petroleum products. The Department of Revenue issued Notification Nos. 40/2026-Central Excise, 41/2026-Central Excise and 42/2026-Central Excise, amending earlier notifications dated 26 March 2026. Notification No. 40/2026-Central Excise amends Notification No. 06/2026-Central Excise. It revises the rates against Serial Nos....
The Ministry of Finance has announced the issuance of a Decision on the minimum Excise Price for Tobacco Products and Liquids used in Electronic Smoking Devices and Tools. Under the Decision, the existing minimum Excise Price will continue to apply to Cigarettes, Water Pipe Tobacco, ready-to-use tobacco products, and similar products. It introduces a minimum...
Bulgaria has published the State Social Security Budget Act for 2026 in the Official Gazette, setting new monthly bases for social security contributions following the country’s adoption of the euro. The maximum monthly basis for social security contributions is EUR 2,111.64 from 1 January to 31 July 2026 and rises to EUR 2,300 from 1...
The Inland Revenue Department (IRD) of Sri Lanka has published a revised circular setting out how taxpayers should calculate quarterly income tax instalments following changes to the Inland Revenue Act, No. 24 of 2017. Circular SEC/2026/E/06 was originally issued on 3 August 2026 and revised on 6 August 2026. The changes follow the Inland Revenue...
China has expanded a tax-collection drive targeting undeclared income and capital gains from overseas assets held by ultra-high-net-worth individuals, as fiscal pressures deepen following the prolonged property market downturn, through Announcement No. 21 of 2026 issued by China’s Ministry of Finance and State Administration of Taxation (SAT) on 24 July 2026. The SAT also released...
Indonesia’s Directorate General of Taxes (DGT) has postponed the implementation of marketplace obligations to collect Article 22 Income Tax from domestic traders until 31 October 2026, with the collection requirement now scheduled to take effect on 1 November 2026. The delay follows the government’s decision to support public purchasing power amid economic conditions that remain...
South Africa has introduced a detailed framework for its Double Taxation Agreement (DTA) advance pricing agreement (APA) system through six income tax notices covering applicant eligibility, fees, rejection grounds, processing requirements, preliminary agreement information and operating procedures. The South African Revenue Service (SARS) promulgated Notices 7787 to 7792 in Government Gazette 55152 on 7 August...