Saturday, August 29, 2026
Canada’s Department of Finance has released draft legislative proposals for public consultation on 23 July 2026 to implement a range of previously announced tax measures, along with other technical amendments to the country’s tax system. Canada’s government is committed to maintaining a tax system that is fair, effective, and competitive. The proposed changes aim to...
The Italian Revenue Agency announced, on 23 July 2026, that it has introduced new tax codes for paying penalties through the F24 form for voluntary disclosure of violations relating to the Global Minimum Tax’s information and reporting obligations under Legislative Decree No. 209/2023. Resolution No. 27 of 23 July 2026 implements this final piece of...
The Trump administration imposed new tariffs across 60 trading partners—the EU, China, Japan, Canada, and dozens more—alleging they’ve failed to prevent goods made by forced labour from entering their supply chains on 24 July 2026. The move marks the first major tariff action after the US Supreme Court dismantled his previous reciprocal duty scheme in...
South Korea’s National Tax Service (NTS) has introduced a Fast-track procedure for Advance Pricing Agreement (APA) renewals and rolled out a broader package of tax support measures for foreign-invested enterprises (FIEs) aimed at strengthening the country’s investment climate. The initiatives were announced during the NTS’s first joint meeting on 14 May 2026 with representatives of...
Ethiopia and Kenya have agreed to speed up negotiations on a bilateral income tax treaty following a meeting between officials in Nairobi on 23 July 2026. According to an update published the same day by the Kenyan Principal Secretary of the State Department for Foreign Affairs, both countries expressed their commitment to expedite the conclusion...
Bahrain’s National Bureau for Revenue (NBR) has released Version 1.10 of its VAT Registration Guide on 22 July 2026, updating the processing timelines for VAT registration and amendment applications. Under the revised guidance, the NBR will review and process change or amendment applications within five working days from the date of submission. The guide also...
The Ecuadorian Internal Revenue Service (SRI) has issued Resolution No.NAC-DGERCGC26-00000026, establishing the mechanism for the declaration and payment of advance payments on undistributed profits by resident companies and permanent establishments of non-resident companies. The resolution, signed on 14 July 2026, implements procedures for a tax obligation introduced under the Organic Law on Social Transparency, which...
The Zakat, Tax and Customs Authority (ZATCA) determined the criteria for selecting the targeted taxpayers in the Twenty-Fifth Wave for implementing the “Integration Phase ” of E-invoicing, as it clarified that the Twenty-Fifth Wave included all taxpayers whose revenues subject to VAT exceeded (SAR 187,500) during 2022, 2023,2024 or 2025. Moreover, ZATCA explained that it...
The Belgian Ministry of Finance has published Circular 2026/C/74 on 22 July 2026. Circular 2026/C/74 outlines the Belgian tax framework for financial capital gains following legislation enacted on 6 April 2026. Circular 2026/C/74 provides comprehensive guidance on the new capital gains tax on financial assets specifically for personal income tax purposes, leaving the rules for...
Argentina’s tax authority (ARCA) has announced that it has streamlined VAT credit recovery for mining exploration companies through General Resolution No. 5879/2026, published in the Official Gazette on 23 July 2026. The new procedure consolidates fragmented rules and shifts VAT credit returns into the Comprehensive Recovery System (SIR), superseding the previous framework under General Resolution...