Saturday, July 18, 2026
Bangladesh’s Finance Minister Amir Khosru Mahmud Chowdhury presented the National Budget 2026-27 today, 11 June 2026, after his cabinet endorsed the proposed budget on the same day. The total outlay of the FY 2026-27 budget is set at BDT 9.38 lakh crore — the largest national budget in Bangladesh’s history. The theme of the budget...
The Inland Revenue Authority of Singapore has announced that an income tax treaty with Tanzania was signed on 9 June 2026. The income tax treaty clarifies the taxing rights of both countries on income arising from cross-border business activities, and addresses the double taxation of such income. This will lower barriers to cross-border investment and...
The French National Assembly approved the law for the ratification of the new income tax treaty with Finland on 9 June 2026. Signed on 4 April 2023, this treaty will replace the existing 1970 tax agreement between the two nations. The agreement seeks to prevent double taxation and fiscal evasion between the two nations. The...
Malta’s Tax and Customs Administration has announced that requests to switch between VAT registrations under Article 10 and Article 11 of the VAT Act can now be submitted through the VAT e Services portal. In Malta, persons carrying out economic activity are generally required to register for VAT. Taxable persons established in Malta that make...
The Hong Kong Internal Revenue Department (IRD) has announced on 10 June 2026 that the Inland Revenue (Amendment) (Tax Concessions for Shipping-related Activities and Physical Commodity Trading) Bill 2026 will be published in the Gazette this Friday (12 June 2026) to amend the Inland Revenue Ordinance (Cap. 112) to enhance the existing tax concessions for...
Luxembourg’s tax administration has issued a circular on 1 June 2026, clarifying the VAT treatment of photovoltaic (PV) installations, setting out how VAT obligations and deduction rights apply depending on how the electricity generated by the systems is used. The circular confirms that PV installations are treated as immovable property for VAT purposes because they...
UK’s HM Revenue & Customs (HMRC) has published new guidance in its Capital Gains Manual explaining the operation of revised anti-avoidance rules for share exchanges and company reconstructions on 8 June 2026. The guidance, set out in a new annex titled CG-APP20 – Anti-avoidance rule for share exchanges and company reconstructions from November 2025, replaces...
The UAE’s Federal Tax Authority (FTA) has launched a new initiative expanding the scope of expenses eligible for VAT refunds for UAE nationals constructing new residences, allowing citizens to claim refunds on an additional range of construction costs. The initiative aligns with the UAE leadership’s directives and coincides with the Year of Family, with the...
The National Bank of Kazakhstan has lowered the base rate from 18.0% to 17.0%, effective 8 June 2026, according to an official update. The move follows a period of rate stability throughout the first part of 2026 and reverses part of the increase implemented in October 2025, when the rate was raised from 16.5% to...
Turkey has approved the Multilateral Competent Authority Agreement on the Exchange of Global Anti-Base Erosion (GloBE) Information Returns (GIR MCAA), reinforcing its participation in the international framework supporting the global minimum tax. The approval was formalised through Decision No. 11396, published in the Turkish Official Gazette on 6 June 2026. The agreement was signed by...