Saturday, September 19, 2026
Taiwan’s Ministry of Finance, in a notice on 4 August 2026, has reminded enterprises that elect to defer the recognition of unrealized gains and losses from fair value through profit or loss (FVPL) financial instruments held by their Controlled Foreign Companies (CFCs) to apply the method consistently across all directly held CFCs and provide the...
The Austrian Federal Ministry of Justice has published the Tax Haven Notification Regulation 2026 (StO-KVO 2026) in the Official Gazette on 3 August 2026, updating the country’s reference to the European Union’s list of non-cooperative jurisdictions for tax purposes. The regulation implements the EU list as it stood on 1 March 2026 in accordance with...
Thailand’s Revenue Department has confirmed that the Value Added Tax (VAT) rate of 7% will continue following the Cabinet’s approval of a proposal to extend the period for reducing the VAT rate until 30 September 2027. The Ministry of Finance, through the Revenue Department, submitted the proposal for Cabinet consideration, which was approved on 27...
The Department of the Treasury and the Internal Revenue Service (IRS) announced that it issued Notice 2026-28 on 5 August 2026, providing guidance on the employer credit for paid family and medical leave (PFML) under the Working Families Tax Cuts (WFTC). The WFTC makes permanent and expands eligibility and coverage for employers offering PFML benefits...
The Australian Treasury has launched a public consultation on the Capital Gains Tax and Negative Gearing – Tranche 2 legislation on 4 August 2026. Comments on the consultation are due by 21 August 2026. In the 2026–27 Budget, the government announced reforms to negative gearing and capital gains tax (CGT). The reforms aim to make...
The UAE Federal Tax Authority (FTA), in a notice on 3 August 2026, has reminded taxable persons eligible for small business relief that they must submit simplified corporate tax returns within prescribed legal deadlines. FTA has emphasised that taxable persons eligible for small business Relief must continue to fulfil their obligations under the Corporate Tax...
A coalition of 25 Democratic-led US states has challenged the Trump administration in court, alleging that the President’s latest tariffs on imports from 60 trading partners, like many of his previous sweeping tariff measures, exceed the legal authority granted to the executive branch to impose import taxes. The 25 Democratic-led states are Arizona, California, Colorado,...
South Africa’s National Treasury and the South African Revenue Service (SARS) have launched a public consultation on the 2026 draft Taxation Laws Amendment Bill (2026 draft TLAB) and the 2026 draft Tax Administration Laws Amendment Bill (2026 draft TALAB), inviting written comments until the close of business on 28 August 2026. Published on 30 July...
Canada’s Minister of Finance and National Revenue announced a provisional safeguard measure, in the form of a 25% surtax, on imports of certain wood cabinets and vanities, on 31 July 2026, while the Canadian International Trade Tribunal safeguard inquiry is ongoing. This provisional safeguard measure is intended to address the immediate challenges facing Canadian manufacturers,...
The Trump administration is expected to announce a 15% tariff and introduce minimum import prices on polysilicon and related solar products, including wafers, cells, and solar panels, following a national security investigation conducted under Section 232 of the Trade Expansion Act of 1962. The proposed measures are designed to protect US manufacturers from increasing competition...