Saturday, August 08, 2026
Portugal’s Council of Ministers approved a proposal for legislative authorisation to be submitted to the Assembly of the Republic to establish a Temporary Solidarity Contribution on the Petroleum Sector. The exceptional and temporary measure will apply only to the 2026 period and is intended to finance measures to mitigate the impact of rising fuel prices....
France has restored the standard time limit for withholding tax claims by repealing the reduced one-year deadline through Decree No. 2026-692 of 27 July 2026, published on 29 July and effective from 30 July 2026. The measure implements Conseil d’État Decision No. 500909. Under the change, claims relating to withholding tax are now subject to...
Turkey’s Revenue Administration has updated and published the Guide on the Tax Penalty Reduction Application, explaining the scope of penalties covered, eligibility requirements, reduction rates, application procedures and payment obligations under Article 376 of the Tax Procedure Law No. 213. Scope of the tax penalty reduction application The application enables taxpayers and tax responsible persons...
The UAE Federal Tax Authority (FTA) issued Federal Tax Authority Decision No. 12 of 2026, establishing the registration, deregistration and notification requirements for entities subject to the domestic Top-up Tax under Cabinet Decision No. 142 of 2024 on the Imposition of Top-Up Tax on Multinational Enterprises. The Decision was issued on 16 July 2026, published...
The income tax treaty between Belarus and Myanmar entered into force on 15 July 2026. Signed on 28 November 2025, the agreement provides for the avoidance of double taxation of income of tax residents of Belarus and Myanmar. The agreement covers income tax and profit taxes in both jurisdictions. Dividend withholding rates sit at 10%...
Romania’s Ministry of Finance, in a press release, has approved the procedural mechanism for delivering a 3% rebate on profit and income taxes to microenterprises for the 2025 fiscal year, implementing Government Emergency Ordinance no. 8/2026. The system requires no applications from taxpayers—tax authorities verify eligibility automatically and issue rebate decisions. Simplified application process The...
Taiwan’s Ministry of Finance, in a notice on 4 August 2026, has reminded enterprises that elect to defer the recognition of unrealized gains and losses from fair value through profit or loss (FVPL) financial instruments held by their Controlled Foreign Companies (CFCs) to apply the method consistently across all directly held CFCs and provide the...
The Austrian Federal Ministry of Justice has published the Tax Haven Notification Regulation 2026 (StO-KVO 2026) in the Official Gazette on 3 August 2026, updating the country’s reference to the European Union’s list of non-cooperative jurisdictions for tax purposes. The regulation implements the EU list as it stood on 1 March 2026 in accordance with...
Thailand’s Revenue Department has confirmed that the Value Added Tax (VAT) rate of 7% will continue following the Cabinet’s approval of a proposal to extend the period for reducing the VAT rate until 30 September 2027. The Ministry of Finance, through the Revenue Department, submitted the proposal for Cabinet consideration, which was approved on 27...
The Department of the Treasury and the Internal Revenue Service (IRS) announced that it issued Notice 2026-28 on 5 August 2026, providing guidance on the employer credit for paid family and medical leave (PFML) under the Working Families Tax Cuts (WFTC). The WFTC makes permanent and expands eligibility and coverage for employers offering PFML benefits...