Thursday, October 29, 2026
Thailand’s Revenue Department has published a notification from the Ministry of Finance (MoF) on 9 September 2026, establishing specific penalties for failing to comply with certain requirements of the Emergency Decree on Exchange of Information for Implementation of the International Agreements on Taxation, B.E. 2566 (2023). The Decree provides for the exchange of information upon...
New Zealand’s Inland Revenue (IR) opened a public consultation on 18 September 2026 on Exposure Draft ED0265, which sets out the proposed income tax treatment of amounts received from members by societies, clubs and other not-for-profit associations (NFPs). The draft operational statement (OS), titled Mutual associations (including clubs and societies), applies to NFPs that are...
Colombia’s National Directorate of Taxes and Customs (DIAN) has extended the suspension of legal and administrative terms for tax, customs and foreign exchange matters handled by its Pereira Sectional Directorate until 14 October 2026. Under Resolution No. 013397, published in the Official Gazette on 10 September 2026, the suspended terms will resume on 15 October...
The Australian Taxation Office (ATO) has issued a notice on 21 September 2026 reminding leviable entities to report petroleum production and submit the Offshore Petroleum (OP) Levy return for the 2025–26 financial year. The deadline for lodgment is 31 December 2026. The levy itself covers costs of decommissioning and remediating the Laminaria and Corallina oil...
The Italian Revenue Agency introduced a fuel subsidy for fishing businesses on 22 September 2026. The measure, established through Resolution No. 32, creates tax code 7080 to help operators manage rising fuel expenses for company vehicles. How the credit works Fishing companies that purchased diesel or gasoline between 1 March and 31 May 2026 qualify...
The Belgian Chamber of Representatives approved the Law on Cost Reductions and Miscellaneous Provisions II on 17 September 2026, introducing a comprehensive set of administrative simplification and cost-reduction measures aimed at supporting small businesses, the self-employed, liberal professions, and non-profit organisations. Gradual increase in the VAT exemption threshold The annual VAT exemption threshold will rise...
El Salvador’s tax authority (DGII) released guidance MH.UVI.DGII/006.002/2026 on 24 September 2026 clarifying tax compliance rules for 2027. The guidance establishes clear criteria for identifying international jurisdictions categorised as tax havens or regions with preferential fiscal regimes, specifically those with low or zero taxation. The DGII created two categories to classify foreign jurisdictions. The low...
Thailand’s Finance Ministry has instructed the Excise Department to conduct a comprehensive review of the country’s automotive excise tax structure. The review addresses electric vehicles, hybrids, and traditional internal-combustion engines, signalling a shift from the narrow focus on EVs that characterised earlier policy phases. From attraction to investment anchoring The government’s earlier incentive programmes successfully...
Canada’s Department of Finance has introduced Bill C-38, the Canadian Fuel Affordability Act, on 22 September 2026, extending a temporary suspension of the federal fuel excise tax that began on 20 April 2026, responding to elevated fuel costs linked to global supply disruptions in the Middle East. Under the extension, the federal fuel excise tax...
The Australian Taxation Office (ATO) announced on 23 September 2026 that it implemented changes to how foreign residents pay capital gains tax on Australian property investments. The Strengthening the Foreign Resident Capital Gains Tax regime received royal assent and will take effect on 1 October 2026. Under the Treasury Laws Amendment (Strengthening Accountability for Tax...