Thursday, October 29, 2026
India’s Goods and Services Tax (GST) Council approved changes to GST enforcement rules on 8 October 2026, removing the power of arrest for GST offences, raising the prosecution threshold and reducing the general penalty. The measures aim to ease business compliance and make the tax system more taxpayer-friendly, while leaving GST rates unchanged. The Council...
UAE’s Ministry of Finance (MoF) has issued Ministerial Decision No. 168 of 2026 on the Eligibility Criteria and Accreditation Procedures for Service Providers under the Electronic Invoicing System. The Decision repeals Ministerial Decision No. 64 of 2025 and its amendments, including Ministerial Decision No. 56 of 2026, and will enter into force on 1 October...
Bolivia’s National Tax Service (SIN) published Board Regulatory Resolution No. 102600000038 on 30 September 2026, repealing earlier resolutions that established online invoicing implementation deadlines for taxpayers in the ninth, tenth, eleventh and twelfth groups. The decision followed changes to the Value Added Tax (VAT) rules under Law No. 1733 of 27 May 2026, which required...
Uzbekistan’s Constitutional Law on the Tashkent International Financial Centre (TIFC), enacted on 13 July 2026, created a dedicated financial hub with tailored tax and regulatory treatment. The new framework operates under its own legislation rather than standard tax code provisions. Tax exemptions for qualified participants Until 1 January 2076, registered TIFC participants meeting prescribed criteria...
The Italian Revenue Agency announced, on 12 October 2026, that it has updated its procedures for closing inactive VAT accounts. Revenue Agency Director Vincenzo Carbone signed the new measure on 12 October 2026, revising the previous directive from 3 December 2019. The update implements Article 35, paragraph 15-quinquies of Presidential Decree no. 633/1972 (the VAT...
The European Commission is investigating a continent-wide windfall profit tax on oil and gas firms. The move comes as governments across the bloc face pressure to help households struggling with soaring energy bills. Energy prices have climbed sharply in 2026. Brent crude reached near USD 120 per barrel in late April and remains more than...
Ecuador’s National Assembly approved an Organic Reform Law to amend the Organic Tax Code on 6 October 2026. The reform aims to address inconsistencies in the existing tax framework, improve legal certainty and clarify procedural requirements governing tax authorities and taxpayers. The legislation also grants the Tax Code organic-law status, giving it precedence over ordinary...
Malaysia’s Inland Revenue Board (IRBM) has published Public Ruling No. 4/2026 on 30 September 2026, providing updated guidance on special capital allowances that allow a 100% write-off for small-value assets. Replacing the previous PR No. 3/2021, this ruling interprets Paragraph 19A of Schedule 3 of the Income Tax Act 1967 (ITA), which permits businesses to...
Denmark published its Legislative Programme for 2026–2027 on 8 October 2026, setting out 22 legislative bills under the Ministry of Taxation and other proposed legislation covering tax and related matters. The proposals cover the implementation of the OECD Pillar Two minimum taxation agreement, changes to corporate taxation and VAT, personal tax relief, environmental duties and...
Slovenia’s Ministry of Finance has published a draft law proposing amendments to the Value Added Tax Act to transpose certain measures of the VAT in the Digital Age (ViDA) package, in line with Council Directive (EU) 2025/516. The provisions are set to take effect on 1 January 2027, with specific transition schedules extending through 1...