Saturday, September 19, 2026
The US Internal Revenue Service (IRS) announced on 21 August 2026 that the interest rates will remain the same for the calendar quarter beginning 1 October 2026. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. Here is a complete list of the new rates: 7% for overpayments (payments...
The Netherlands State Secretary for Finance has issued the Decree nr. 2026-15551, updating and clarifying several key tax treaty interpretations on 6 August 2026. The Decree No. 2026-15551, which replaces Decree No. 2023-11648 of 16 June 2023, was published in the Official Gazette No. 29108 on 19 August 2026. The Decree outlines official positions on...
The US IRS has published updated Questions and Answers about the limitation on the deduction for business interest expense, dated 19 August 2026. The updated FAQs are as follows: Topic A: General information Q1. What is the section 163(j) limitation on the deduction for business interest expense? (updated 19 August 2026) A1. Generally, taxpayers can...
Andorra published the income and capital tax treaty with Austria in the Official Gazette on 13 August 2026, confirming its ratification. 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,...
Ukraine’s Ministry of Finance announced on 20 August 2026 that the Cabinet of Ministers had approved a draft law seeking ratification of the income tax treaty with Australia. The treaty was signed on 16 October 2025. The agreement seeks to prevent double taxation and fiscal evasion between the two nations. It sets maximum source-state tax...
Portugal’s tax authorities issued Circular Letter No. 25120/2026 on 28 July 2026, updating procedures for invoice rectification and VAT adjustments. The guidance confirms that credit notes should be used when the taxable value or VAT amount changes, but not to correct formal errors that do not affect VAT. For formal errors, such as incorrect NIF,...
Australia’s parliament passed the News Media Bargaining Charge Bill 2026, the News Media Bargaining (Administration) Bill 2026, and the Treasury Laws Amendment (News Media Bargaining) (Consequential) Bill 2026 on 20 August 2026, which imposes financial penalties on tech companies that refuse to pay local publishers for news. The law would impose a potential 2.75% levy...
Switzerland will introduce individual taxation from 2032 after the Federal Council decided on 19 August 2026 to use the latest date permitted under the Federal Act on Individual Taxation. The decision gives the cantons additional time to make the political and technical changes required to implement the new system. Swiss voters approved the Federal Act...
Korea (Rep.) plans to establish a future response fund to use additional tax revenue from strong economic periods to support younger people and invest in future growth industries, the budget ministry said on Friday, 21 August 2026. The fund would support youth employment, housing, asset building, marriage and childbirth, as well as investment in artificial...
The South African Revenue Service (SARS) opened public consultation on the SARS Consultation Paper on Value Added Tax (VAT) Modernisation: E-invoicing, Interoperability Framework and E-reporting in August 2026, seeking stakeholder views on plans to modernise VAT administration. The proposal would shift South Africa’s current retrospective, declaration-based VAT administration towards a digitally enabled system based on...