Saturday, August 08, 2026
Japan’s Ministry of Foreign Affairs has announced that the new income tax treaty with Kyrgyzstan will enter into force on 26 July 2026. Signed on 19 December 2025, the treaty replaces the 1986 tax treaty between Japan and the former Soviet Union in its application to Japan and Kyrgyzstan. The treaty applies to Kyrgyz tax...
The Austrian Council of Ministers, at its meeting on 1 July 2026, gave approval for the signing of the sixth protocol amending the 1974 income and capital tax treaty with Switzerland. The agreement seeks to prevent double taxation and fiscal evasion between the two nations. It approved proposals covering foreign affairs, including an amending protocol...
The Government of Kazakhstan has adopted Government Decree No. 542, signed on 24 June 2026, introducing amendments to two existing regulations governing Value Added Tax (VAT) treatment for medical services, medicines and pharmaceutical products. The decree updates Government Decrees No. 1203 and No. 1204 of 2025, expanding VAT exemptions, revising the list of goods eligible...
The OECD has published a working paper examining Investment tax incentives in Latin America and the Caribbean on 30 June 2026. The study covers Argentina, Brazil, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Paraguay, Peru and Uruguay. It compares corporate income tax (CIT) incentives using a standardised classification and forward-looking effective average tax...
Austria’s Budget Measures Act 2026 (Budgetmaßnahmengesetz 2026) entered into force on 1 July 2026 after being published in the Official Gazette (BGBl. I 43/2026) on 30 June. The legislation amends a range of federal laws with measures intended to promote tax fairness, combat tax fraud, reduce the tax burden on workers and simplify administrative procedures....
The OECD has announced on 30 June 2026 the release of the report Revenue Statistics in Asia and the Pacific 2026. Revenue Statistics in Asia and the Pacific 2026 presents detailed, internationally comparable data on public revenues in the Asia-Pacific region up to 2024. The publication finds that tax revenues rose as a share of...
The Federation of Bosnia and Herzegovina (FBiH) is continuing preparations for its new fiscalization framework ahead of the August 2026 deadline for issuing implementing bylaws under the Law on Fiscalization of Transactions. The Tax Administration has completed a preliminary market consultation through a Request for Information (RFI) published on 11 May 2026. The 30-day submission...
The Zimbabwe Revenue Authority (ZIMRA) has published guidance outlining the requirements for exporters seeking to benefit from China’s zero-tariff programme for eligible goods originating from Zimbabwe. Under the programme, qualifying Zimbabwean products exported to China are eligible for duty-free treatment from 1 May 2026 until 30 April 2028. The initiative covers a range of products,...
Cyprus has ratified the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA), with the ratification published in the Official Gazette on 26 June 2026. Having signed the agreement on 12 May 2026, Cyprus joins the framework for the automatic exchange of GloBE Information Return (GIR) data between tax authorities. The GIR...
The Australian Taxation Office (ATO) has updated its guidance on penalty units to reflect an increase in the penalty unit value on 26 June 2026. For infringements occurring on or after 1 July 2026, the penalty unit amount has increased to AUD 364, up from AUD 330, which applied to infringements committed between 7 November...