Thursday, October 29, 2026
The US Court of International Trade heard arguments on 30 September 2026 over the legal validity of President Trump’s global tariffs. Three federal judges examined whether the administration exceeded its authority by imposing tariffs on imports from 60 trading partners, including the European Union and China. The tariffs range from 10% to 12.5% This follows...
The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the second quarter of the 2026-27 income year on 4 September 2026. For the quarter commencing on 1 October 2026, the GIC annual rate is set at 11.51%, and the SIC annual rate is set at...
The OECD will hold a public consultation meeting on 9 November 2026 to discuss proposed revisions to Chapter VII of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The meeting will focus on feedback from a recent public consultation and will bring together stakeholders from various industries and regions to examine the...
Kazakhstan’s Ministry of Finance has released the draft Law “On the Republican Budget for 2027–2029,” establishing the government’s financial roadmap for the next three years. The budget does not introduce specific tax measures; it sets certain tax-related values, including the monthly calculation index (MCI) and the monthly minimum wage. The legislation allocates KZT 29.02 trillion...
Poland’s Council of Ministers adopted the draft 2027 budget act on 29 September 2026, introducing changes designed to ease the tax burden on middle-income earners while strengthening support for families and pensioners. The new budget allocates PLN 623.8 billion in total tax revenue, an increase of PLN 58.8 billion compared to 2026 projections. Corporate taxes...
Taiwan’s National Taxation Bureau of the Northern Area, Ministry of Finance, announced on 30 September 2026 that individuals who provided houses they owned to companies for business use without charging rent were still required to calculate and report rental income for individual consolidated income tax. Under Paragraph 4, Category 5, Paragraph 1, Article 14 of...
Sri Lanka’s Inland Revenue Department has announced that, with effect from 1 November 2026, every person specified under Section 102(3) of the Inland Revenue Act will be required to submit a valid Taxpayer Identification Number (TIN) certificate when carrying out specified transactions. The requirement was set out in a notice to the general public, reference...
Taiwan’s National Taxation Bureau of the Northern Area (NTBNA), Ministry of Finance, had announced the applicable estate tax exemption amount and deductions for cases where the date of death occurred on or after 1 January 2026. An exemption of TWD 13,330,000 per case could be deducted from the gross estate. The spouse’s deduction was TWD...
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on foreign currency transactions, adding sections on approved exchange rate sources, the treatment of different transaction types, and the reporting of exchange gains and losses. Invoicing requirements As reported in the guidance, for foreign currency sales, businesses must use approved GST exchange rates to...
Pakistan’s Federal Board of Revenue (FBR) announced on 29 September 2026 that the special tax scheme for small shopkeepers was in its initial implementation stages and that it was working to facilitate traders and resolve issues arising during registration. Pakistan’s government and the FBR remained in contact with traders, market representatives and trade bodies to...