Saturday, September 19, 2026
Iceland’s Ministry of Finance and Economic Affairs issued a legislative proposal on 2 September 2026 to amend the existing law on the vehicle kilometre tax (Law no. 100/2025), which has been in effect since 1 January 2026. A public consultation has been initiated regarding the proposal, which ends on 16 September 2026. The original tax...
The US Internal Revenue Service (IRS) has issued guidance during National Preparedness Month encouraging taxpayers to protect essential tax and financial records before emergencies occur on 3 September 2026. According to Frank J. Bisignano, IRS Chief Executive Officer, taking precautionary steps now significantly reduces recovery time after disasters strike. Floods, wildfires, hurricanes, tornadoes, and severe...
New Zealand’s Inland Revenue has opened a consultation on 2 September 2026 on Exposure Draft No. PUB00266, which proposes replacing Interpretation Guideline No. IG0007 on the income taxation of payments to nonresident software suppliers. The draft updates 2003 guidance on the income tax treatment of payments to non-resident software providers, reflecting modern digital transactions, including...
The Italian Revenue Agency announced the issuance of Response no. 169 on 3 September 2026, in which it ruled that companies operating within the Single Economic Zone (ZES Unica) can claim the regional tax credit for equipment leased in 2026 even when the contract was signed and the asset delivered before submitting the mandatory advance...
The Taipei National Taxation Bureau of the Ministry of Finance issued a guidance on 4 September 2026 clarifying how businesses must handle invoicing when late-completion penalties offset outstanding project balances. The ruling clarifies that operators cannot reduce invoice amounts based on penalty deductions. Invoices must reflect the full contract amount Under Article 16 of the...
The Ghanaian President has signed 10 legislative bills into law, including several measures relating to taxation on 26 August 2026. The key legislative acts are summarised below: Excise Act, 2026: This Act consolidates excise duty regulations and incentivises local manufacturing. The Act consolidates all excise duty requirements into a unified framework, replacing scattered regulations. Local...
The Belgian Ministry of Finance confirmed that Japan’s 4% special corporate tax on defence, effective from 1 April 2026, falls within the scope of the Belgium–Japan Income Tax Treaty (2016). It was clarified in Circular 2026/C/80 published on 2 September 2026. Japan’s tax authorities have activated a new special tax targeting defence companies, effective 1...
The UAE’s tax authority, the Federal Tax Authority (FTA), in an announcement on 2 September 2026, has called on all taxable persons to file Corporate Tax returns and remit payment within nine months following the end of their tax period. Exempt persons required to register must submit annual declarations to the FTA within the same...
Germany’s Ministry of Finance has published the Draft Income Tax Reform Act 2027 (Einkommensteuerreformgesetz 2027), which was approved by the Federal Cabinet on 2 September 2026. The draft outlines a proposal from the German Federal Ministry of Finance for an income tax reform set to begin in 2027. This legislative initiative seeks to foster economic...
Ethiopia has issued the Electronic Invoicing System Administration Directive No. 1142/2026, establishing rules for electronic invoicing and the approval and operation of invoicing systems. Issued by the Minister of the Ministry of Revenues, Aynalem Nigussie Ali, the Directive aims to modernise tax administration, improve service delivery and prevent tax evasion. The Directive requires approved Sales...