Saturday, September 19, 2026
Hungary has gazetted Act XL of 2026 amending the Value Added Tax Act (Act CXXVII of 2007) on 13 August 2026. The amendments reclassify prescription-only human medicines and officially compounded preparations (magistral formulas) from Annex 3. The amendment introduces a major tax reclassification for human medicines, shifting them to a 0% VAT rate, starting 1...
The Inland Revenue Authority of Singapore (IRAS) has ruled that gains made by a Singapore-incorporated company from the sale of certain long-term investment properties are capital in nature and therefore not income subject to tax under Section 10(1) of the Income Tax Act 1947 (ITA). The position was set out in Advance Ruling Summary No....
The UAE Federal Tax Authority (FTA) has issued two guides dated 26 August 2026 providing administrative and technical guidance on the Qualified Domestic Minimum Top-up Tax (QDMTT) Legislation. The guidance covers how multinational enterprise (MNE) groups come within the QDMTT regime, which UAE entities must register, the applicable registration deadlines and the rules for Excluded...
Russia has introduced special rules for calculating corporate income tax for members of international groups of companies, with the clarifications published by the Federal Tax Service (FTS) in Tax Policy and Practice, No. 8/2026, on 18 August 2026. The rules apply from 2026 to members of international groups of companies, except for foreign organisations that...
Irish Revenue has published eBrief No. 125/26 on 28 August 2026, updating Tax and Duty Manual Part 04A-01-02, which provides guidance on the operation of the Pillar Two rules on the Global Minimum Level of Taxation for Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union. The latest changes concern prior period adjustments, the...
Poland’s government has approved a draft 2027 budget on 28 August 2026 with projected total tax revenues of PLN 622.4 billion for 2027, representing a PLN 57.8 billion increase over 2026’s expected performance. The budget plan, prepared under the stabilising expenditure rule (SER)—a mechanism implementing the EU’s Excessive Deficit Procedure—balances revenue expectations against controlled spending...
Fiji and New Zealand have completed the final round of negotiations on a new income tax treaty, with officials from both countries initialling the agreement on 13 August 2026, according to the Fiji Revenue and Customs Service (FRCS). The Fiji delegation was led by FRCS Chief Executive Officer Udit Singh, while New Zealand’s team was...
Portugal has extended the deadline for delivering Export Certificates of Proof (CCE) to suppliers for VAT-exempt transactions, following technical difficulties that delayed certificate issuance. The measure, set out in Order No. 104/2026-XXV, was signed by Secretary of State for Fiscal Affairs Cláudia Reis Duarte on 21 August 2026. Under Article 6 of Decree-Law No. 198/90,...
The Dominican Republic’s Directorate General of Internal Revenue (DGII) has published a practical guide setting out how taxpayers should identify, justify, calculate and deduct doubtful or uncollectible accounts for Income Tax (ISR) purposes. The guide, issued on 21 August 2026, is intended to help businesses avoid costly adjustments during audits by clarifying the application of...
Ireland Revenue has clarified the application of Section 110 of the Taxes Consolidation Act (TCA) 1997, including Transfer Pricing, arm’s length requirements and restrictions on profit participating notes (PPNs), in eBrief 120/2026 published on 21 August 2026. The updated Tax and Duty Manual addresses specific areas of uncertainty concerning companies operating under Ireland’s securitisation regime....