Posts by: RF Report


US: Trump administration to reject solar industry push for faster polysilicon tariff rollout

The Trump administration is expected to reject requests from some US solar manufacturers to accelerate the implementation of a proposed 15% tariff and price floor on imported polysilicon products. The measures could be announced as early as Thursday but are expected to take effect 120 days after the announcement, according to sources familiar with the...

Hungary revises windfall tax on oil producers, extends levy to 2027

Hungary has published Act XXXII of 2026 in the Official Gazette, which will enter into force on 18 August 2026. The Act consists of excerpts from the 18 July 2026 issue of the Hungarian Gazette, detailing several newly enacted laws and government decrees. A primary focus is a bilateral agreement between Hungary and Slovakia to...

Bahrain: NBR updates VAT guide for financial services

Bahrain’s National Bureau for Revenue (NBR) has published VAT Financial Services Guide Version 1.4 on 3 August 2026. The latest version of the guide updates Section 10.4. Under Bahrain’s VAT rules, financial services are generally treated as follows: Zero-rated: Financial services supplied to a recipient outside Bahrain, provided the conditions for the zero-rating of exported...

US: Business Tax Account gives eligible taxpayers more secure, convenient ways to manage federal tax obligations online

The US Internal Revenue Service (IRS) on 6 August 2026 announced new and expanded features for Business Tax Account (BTA) users, giving eligible businesses and organisations more ways to view digital notices, make payments, and access and manage federal tax account information online. Business Tax Account is an online self-service platform that allows authorised users...

Singapore: IRAS updates major exporter scheme GST guide with revised compliance requirements

The Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide GST: Major Exporter Scheme (Eighteenth Edition) on 3 August 2026, setting out the latest guidance on the operation of the Major Exporter Scheme (MES). The guide explains the qualifying conditions, approved uses, compliance obligations, GST reporting requirements and internal control standards that apply...

France introduces new e-invoicing compliance rules

France has issued new legislation completing the regulatory framework for mandatory electronic invoicing ahead of the September 2026 implementation, introducing detailed operational, governance and compliance requirements for plateformes agréées while formally ending the Portail Public de Facturation (PPF) as an invoice exchange channel. Decree No. 2026-677 and the Order of 27 July 2026, published on...

Singapore updates employee earnings reporting forms for YA 2027

The Inland Revenue Authority of Singapore (IRAS) has updated the Reporting Employee Earnings (IR8A, Appendix 8A, Appendix 8B) forms for Year of Assessment (YA) 2027 (income year 2026), setting out the reporting requirements employers must meet by 1 March of the year following the year in which the income is derived. Under S68(2) of the...

Taiwan reminds firms of foreign exchange tax requirements

Taiwan’s National Taxation Bureau of Taipei, Ministry of Finance has clarified that profit-seeking enterprises may recognise only realised foreign exchange gains and losses for profit-seeking enterprise income tax purposes, while book differences arising solely from exchange rate adjustments do not constitute actual gains or losses. The Bureau said the clarification is based on Articles 29...

Luxembourg proposes mandatory B2B e-invoicing under ViDA reforms

Luxembourg’s government has published a draft bill to expand mandatory electronic invoicing from business-to-government (B2G) contracts to domestic business-to-business (B2B) transactions, introducing a phased implementation from 2028. The proposal would amend the Law of 16 May 2019 on electronic invoicing and the modified Law of 12 February 1979 on Value Added Tax (VAT) to align...

Serbia: National Assembly reviews tax treaty ratification bill with Algeria

The Serbian National Assembly is reviewing legislation to ratify the pending income and capital tax treaty with Algeria. Signed on 31 March 2026, the agreement will establish a tax treaty between the two countries once it enters into force. The agreement applies to Algeria’s global income tax, corporate income tax, professional activity tax, property tax,...