Saturday, August 08, 2026
The UK’s HM Revenue & Customs has published a policy paper providing clarification of the increase in the Electricity Generator Levy (EGL) on 17 June 2026. As previously announced, the EGL rate will rise from 45% to 55% with effect from 1 July 2026. The policy paper sets out the main provisions and context for...
The new income and capital tax treaty between Argentina and Austria, signed on 6 December 2019, went into effect on 12 June 2026, replacing the 1979 agreement that terminated on 1 January 2009. The treaty governs taxation of corporate profits, dividends, interest, royalties, and capital gains across both jurisdictions. The treaty applies to Argentine income...
Italy has gazetted the Decree of 29 May 2026 on 11 June 2026, establishing the 2026 conventional remuneration levels used for both social security contributions and income tax calculations for Italian workers employed abroad. The decree, adopted by the Ministry of Labour and Social Policies in agreement with the Ministry of Economy and Finance, applies...
The US Internal Revenue Service (IRS) has confirmed that interest rates for the second quarter dropped beginning 1 April 2026. According to the Revenue Ruling 2026-5, the IRS has set out revised interest rates that will apply for the April–June 2026 quarter, reflecting a downward adjustment across several categories. For corporations, the updated rates are...
The Liechtenstein government announced that representatives of Liechtenstein and Vietnam concluded negotiations on an income tax treaty, initialling the agreement on 12 June 2026. The DTA is based on international standards and takes into account the requirements of the OECD/G20 BEPS (Base Erosion and Profit Shifting) project aimed at preventing tax reduction and tax avoidance...
Bahrain issued Law (32) of 2026 on 14 June 2026, approving the ratification of the income tax treaty with Saudi Arabia. Signed on 3 December 2025, the provisions of the agreement apply to Bahrain corporate income tax as well as Saudi Zakat and income tax. Under the applicable regulations, a 5% rate applies to dividends,...
Andorra and Bulgaria signed an income and capital tax treaty on 19 June 2026. The treaty is intended to avoid double taxation on income and strengthen measures to prevent tax evasion and tax avoidance between the two jurisdictions. The agreement will have to be ratified before it can enter into force. Earlier, the Bulgarian Council...
The UAE Ministry of Finance has issued the UAE Electronic Invoicing Guidelines Version 1.1, dated 1 June 2026. The key updates introduced in Version 1.1 include the addition of: Appendix 4 – Further guidance in respect of storage obligations under Article 11 of Ministerial Decision No. 243 of 2025; and Appendix 5 – Advance Payments...
The European Commission is preparing additional trade duties targeting Chinese-made plug-in hybrid vehicles, according to a report by the German business publication Handelsblatt on 19 June 2026. The announcement comes as EU leaders intensify efforts to address the bloc’s widening trade imbalance with Beijing. Sources cited by Handelsblatt—including senior EU officials and industry insiders—confirmed that...
The Australian government has announced additional implementation details for its tax reform package on 18 June 2026 following an extensive first phase of post-Budget consultations. The package includes a significant expansion of small business capital gains tax (CGT) concessions, a proposed new CGT incentive for innovative startups, amendments to existing legislation, and targeted trust tax...