Saturday, August 08, 2026
India’s Ministry of Finance (Department of Revenue) has issued Notification No. 88/2026 on 16 July 2026, confirming that the Protocol amending the 2013 income tax treaty with Sri Lanka entered into force on 19 June 2026. The amending protocol updates the preamble of the 2013 income tax treaty to emphasise the elimination of double taxation...
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on Employee fringe benefits, providing additional clarification on the Goods and Services Tax (GST) treatment of benefits that employers provide to their employees. The revised guide explains that when an employer provides fringe benefits, it is regarded as making a supply and may be...
Vietnam has issued Decree No. 254/2026/NĐ-CP, establishing detailed regulations on electronic invoices and electronic records under the Law on Tax Administration No. 108/2025/QH15. Effective from 1 July 2026, the Decree sets out the framework for the creation, issuance, transmission, storage and management of electronic invoices, while replacing several earlier regulations, including Decree No. 123/2020/NĐ-CP. Scope...
Chile’s Ministry of Finance, the tax authority (SII), and the General Treasury of the Republic (TGR) have granted automatic tax relief to taxpayers in 28 municipalities hit by a recent storm system, according to a release on 19 July 2026. Effective through 30 October 2026, businesses and individuals in the affected areas can defer monthly...
The Dominican Republic has enacted Law No. 36-26, amending the General Law on Integrated Management and Co-Processing of Solid Waste (Law 225-20) by introducing a revised environmental contribution framework for corporate entities and other changes to strengthen financing for the country’s waste management system. The law, promulgated by the Executive Branch on 6 July 2026...
The UK’s His Majesty’s Revenue and Customs (HMRC) has launched three tax consultations as part of the Finance Bill 2026 programme, seeking views on changes to the recovery framework for National Insurance contributions (NICs), reforms to Land Remediation Relief (LRR) and the tax treatment of predevelopment costs. Published on 13 July 2026, the consultations form...
The Dominican Republic’s General Directorate of Internal Taxes (DGII) launched a public consultation on 14 July 2026 on a draft General Rule establishing the procedures, requirements and conditions for applying the temporary tax amnesty introduced by Article 8 of Law No. 30-26 on Tax Reform. The draft General Rule outlines the application process, eligibility requirements,...
The Italian Revenue Agency confirmed on 17 July 2026 that dissolving a trust and returning assets to the settlor triggers no gift or inheritance tax, provided no beneficiaries receive the property. Response no. 146 of 16 July 2026 clarifies a long-debated point: the mere setup of a trust doesn’t create a taxable event. Taxation only...
Taiwan’s National Taxation Bureau has clarified, on 20 July 2026, that foreign taxpayers that income derived from qualifying house and land transactions must be reported separately from gross consolidated income under the Income Tax Act. The authority stated that, from 1 January 2016, income derived from house and land transactions must be filed separately and...
The Australian Taxation Office (ATO) has published a recap of its June Pillar Two information session on 14 July 2026. In June, the ATO held its fourth Pillar Two pre-lodgment information session, attended by more than 300 participants from Australia and overseas. The session supported multinational enterprise (MNE) groups and their advisers to prepare for...