Saturday, August 08, 2026
Kenya’s government confirmed, on 14 July 2026, that it is keeping its reduced 8% value-added tax rate on petroleum products through mid-October, alongside a KES 945 million subsidy to stabilise pump prices in the July-August cycle. The government first compressed VAT on fuel from 16% to 8% in April 2026, reacting to crude price shocks...
Brazil’s Federal Revenue Service (RFB) opened its doors for tax debtors to settle their cases on better terms. On 13 July 2026, the agency published two notices (Notice 9 and Notice 10) offering structured payment plans with steep discounts — but the window to apply closes on 30 October 2026. Notice 9: Larger disputes, bigger...
United States Trade Representative (USTR) representative Jamieson Greer is taking final action, at President Trump’s direction, under Section 301 of the Trade Act of 1974 by imposing a 25% tariff on certain goods of Brazil, according to a release on 15 July 2026. This follows a yearlong investigation by USTR that determined that certain Brazilian...
Bosnia and Herzegovina’s Republic of Srpska has adopted a regulation introducing pension and family support measures, public investment and borrowing initiatives, new energy concessions and electricity licences, extensive appointments across public institutions, and updated ministerial rules covering agriculture, tourism and public administration. The measures, which also include the acceptance of donor funding from Serbia and...
Switzerland and the United Kingdom have concluded negotiations on a modernised free trade agreement, Swiss President Guy Parmelin and UK Secretary of State for Business and Trade Peter Kyle announced during a meeting in Bern on 13 July. The negotiations, which began in 2023, were launched to modernise bilateral free trade relations. They build on...
Germany has notified Russia that it will suspend the agreement of 29 May 1996 between the two nations for the Avoidance of Double Taxation with respect to Taxes on Income and on Capital, effective from 1 January 2027. The notification was delivered on 30 June 2026 and also applies to the protocol of the same...
Nigeria introduced a green tax surcharge on imported vehicles under its 2026 Fiscal Policy Measures, effective 1 July 2026. The Green Tax Surcharge imposes a 2% to 4% levy on imported high-engine vehicles. Collected by the Nigeria Customs Service, the surcharge aims to reduce carbon emissions, promote environmental sustainability, and encourage the importation of cleaner...
The Thailand Revenue Department has issued a guidance, on 7 July 2026, outlining the method that companies and juristic partnerships must use to convert foreign currency, foreign currency-denominated assets, and liabilities into Thai currency when calculating net profit subject to corporate income tax under Section 65 bis (5) of the Revenue Code. Companies or juristic...
Belgium’s Chamber of Deputies approved legislation introducing a range of personal income tax reforms on 9 July 2026. This legislation outlines a comprehensive reform of the Belgian personal income tax system, scheduled for implementation through 2030. The primary objective of the proposal is to increase purchasing power for low-income workers by gradually raising the tax-exempt...
Lithuania’s parliament has proposed amendments to the Law on Personal Income Tax (PIT) that would introduce a new Personal Income Tax (PIT) exemption for individuals investing in startups. If enacted, the measure will take effect on 1 January 2027 and apply when calculating and declaring income for the 2027 and subsequent tax periods. Proposed exemption...