Saturday, September 19, 2026
The UK-Vietnam Agreement on Cooperation and Mutual Administrative Assistance in Customs Matters, signed on 29 October 2025, entered into force on 1 July 2026. The agreement provides a framework for customs authorities to exchange information, prevent customs offences, enforce intellectual property rights and improve trade facilitation. It covers mutual assistance on request and spontaneous information...
Vietnam’s National Assembly has adopted a resolution cutting personal income tax and corporate income tax by 30% for eligible individuals and enterprises during the 2026 and 2027 tax periods. The 16th National Assembly passed Resolution No. 43/2026/QH16 at its First Extraordinary Session on 24 August 2026, and the measure took effect the same day. Under...
Taiwan’s National Taxation Bureau of Kaohsiung, operating under the Ministry of Finance, has stated that property donated by individuals to educational, cultural, public welfare, charitable, religious organisations and ancestral worship associations may be excluded from the aggregate amount of gifts only when the recipient is a foundation duly registered as a legal entity and meets...
Taiwan’s National Taxation Bureau of Taipei has reminded taxpayers that those facing administrative enforcement over unpaid taxes may apply for instalment payments if they are unable to pay the full amount due. The measure applies to overdue tax cases transferred for enforcement. Taxpayers who cannot settle their tax liabilities because of financial difficulties or significant...
Austria’s Federal Minister of Economy, Energy and Tourism announced on 31 August 2026 that the temporary reduction of the mineral oil tax on petrol and diesel fuel will be extended until 30 September 2026. The mineral oil tax will remain reduced by EUR 0.019 per litre through the end of September. The price reduction guarantee...
Zimbabwe has formally deposited its instrument of ratification for the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters as amended by the 2010 protocol, according to an update released by the Organisation for Economic Co-operation and Development (OECD). The ratification instrument was officially deposited on 31 August 2026. Following the standard procedural...
Montenegro enacted the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 1 September 2026. The convention will modify covered tax agreements where the required conditions for its application have been met. For covered agreements between Montenegro and treaty partners where the MLI is already in force,...
Singapore’s Inland Revenue Authority of Singapore (IRAS) has ruled that certain tax deferred distributions received by a Singapore tax-resident company from a foreign property trust will not be subject to Singapore income tax, provided the distributions do not exceed the capital invested in the trust. The ruling was published as Advance Ruling Summary No. 13/2026...
China’s Ministry of Finance and State Taxation Administration released Announcement No. 27 on 1 September 2026, revising how foreign individuals are taxed on dividends and bonuses received from foreign-invested enterprises operating in China. 20% flat tax on dividend distributions Foreign individuals receiving dividends or bonuses from foreign-invested enterprises now face a standard 20% individual income...
China’s Ministry of Finance and State Taxation Administration released Announcement No. 25 of 2026 on 27 August 2026, effective 1 September 2026, establishing definitive guidance on input tax deduction eligibility under the Value-Added Tax Law of the People’s Republic of China and its Implementing Regulations. Transactions eligible for input tax deduction Six categories of non-taxable...