Saturday, August 08, 2026
California introduced a cap on film and television tax credits that threatens to reverse one of the state’s rare recent industrial wins. SB 122, part of the 2025-2026 budget deal, limits annual claims to USD 5 million through 2029. Starting in 2030, the ceiling tightens further: companies can claim either USD 5 million or 70%...
The UAE Federal Tax Authority (FTA) has issued Public Clarification CTP011 on 15 July 2026, clarifying the requirements for transfer pricing adjustments under the Corporate Tax Law. It mandates that all transactions between Related Parties must adhere to the arm’s length standard, requiring a Taxable Person to adjust their Taxable Income if financial records do...
The UAE Federal Tax Authority (FTA) has published an updated Tax Procedures Guide on Private Clarifications (TPGPC1), dated 14 July 2026, setting out the process for taxpayers seeking the authority’s official view on uncertain tax technical matters. The updated guidance explains who can apply for a Private Clarification, the types of issues that qualify, the...
Sri Lanka’s Inland Revenue Department (IRD), on 3 July 2026, outlined sweeping changes to the country’s Value Added Tax (VAT) regime following the certification of the Value Added Tax (Amendment) Act No. 14 of 2026 on 30 June 2026. The amendments introduce VAT on digital services supplied by non-residents, increase the VAT rate on financial...
Germany’s government has unveiled an ambitious 26-point package aimed at strengthening the country’s response to tax evasion, financial crime and illicit financial activity through tougher sanctions, enhanced enforcement powers and greater use of technology. Harsher penalties for tax offences Among the most significant proposals is an increase in the maximum prison sentence for organised tax...
Taiwan’s Ministry of Finance has clarified that taxpayers selling inherited or bequeathed real estate may qualify for a significantly lower property income tax rate by combining the ownership periods of successive deceased owners when calculating the applicable holding period. The clarification, issued on 16 July 2026, aims to ensure heirs are not unfairly subject to...
The Dominican Republic’s General Directorate of Internal Taxes (DGII) has launched a public consultation on a draft general rule establishing the tax treatment of software transactions, introducing new rules for software acquisitions, licensing, SaaS, associated services and cross-border payments following the enactment of Tax Reform Law No. 30-26. Public consultation launched On 14 July 2026,...
The Dominican Republic’s Directorate General of Internal Revenue (DGII) has opened a public consultation on a draft general norm establishing the implementation framework for the accelerated depreciation regime introduced under Law No. 30-26. Stakeholders have until 15 September 2026 to submit comments on the proposed rules, which would allow eligible businesses to depreciate qualifying industrial...
The Andorran General Council (parliament) approved the ratification of the income and capital tax treaty with Austria on 14 July 2026. Signed on 28 May 2026, the treaty applies to Andorra’s corporate income tax, personal income tax, and tax on income of non-residents. On the Austrian side, it covers income tax, corporation tax, land tax,...
Bhutan’s National Council approved the income tax treaty with Singapore on 10 June 2026. Signed on 12 May 2026, the agreement clarifies the taxing rights of both countries on income arising from cross-border business activities, and addresses the double taxation of such income. This will lower barriers to cross-border investment and trade and economic flows...