Saturday, August 08, 2026
Sri Lanka has enacted a wide-ranging set of tax reforms under the Inland Revenue (Amendment) Act, No. 11 of 2026, introducing changes to income tax, withholding tax (WHT), capital gains tax, taxpayer registration and compliance requirements. The legislation was certified on 3 June 2026, while the Inland Revenue Department (IRD) outlined the key measures in...
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA), on 21 June 2026, reminded VAT-registered businesses with revenues from goods and services exceeding SAR 40 million to submit their VAT returns for May 2026 by 30 June 2026. ZATCA urged eligible businesses to file their returns promptly through the ZATCA App to avoid penalties for late...
Brazil’s Federal Revenue Service (RFB) has published the Normative Instruction RFB No. 2,329 on 19 June 2026, amending the rules governing the Additional Social Contribution on Net Profit (CSLL) surcharge as per Normative Instruction RFB No. 2,228 of 3 October 2024 on 19 June 2026. The update strengthens Brazil’s implementation of the OECD’s Global Rules...
The US Trade Representative Jamieson Greer initiated an investigation under Section 301 of the Trade Act of 1974 against Germany on 18 June 2026. This investigation will seek to determine whether persistent underpayment for innovative pharmaceutical products by Germany is unreasonable or discriminatory and burdens or restricts US commerce. This investigation follows months of meaningful...
The Australian Taxation Office (ATO) has recently issued guidance on the XML file requirements for the GloBE Information Return (GIR), offering clarification to assist filers in completing specific GIR data elements. When preparing the GloBE Information Return (GIR) XML file, ensure that you complete each part of the schema correctly to avoid processing delays or...
Peru’s National Superintendency of Customs and Tax Administration (SUNAT) has extended the deadline for submitting the Informative Sworn Statement “Reporte Local” or Local File (Report) (Virtual Form No. 3560) for the 2025 tax year. The extension was introduced through Resolution No. 000113-2026/SUNAT, published in the Official Gazette on 14 June 2026. The measure applies to...
The Belarus–Jordan income tax treaty entered into force on 8 June 2026 and will apply from 1 January 2027 for withholding and other taxes. Signed on 16 December 2025, the treaty seeks to prevent double taxation and promote economic cooperation between the two countries. It also eliminates double taxation on income, profits, and personal income...
Italy’s Supreme Court, in Ordinance No. 16134 of 25 May 2026, held that relief from double taxation under the Italy–Germany income and capital tax treaty cannot be refused solely because the taxpayer failed to file an Italian tax return or omitted the relevant foreign income from the return submitted. Ordinance No. 16134 establishes a significant...
Chile’s tax administration (SII) has issued Ruling No. 1407-2026 on 10 June 2026 outlining the tax implications regarding fraudulent or unreliable invoices in relation to Value Added Tax (VAT) and Income Tax. It clarifies that while falsified documents generally disqualify a business from claiming tax credits, exceptions exist if specific payment verification methods are followed....
Taiwan’s National Taxation Bureau of the Central Area, Ministry of Finance ( NTBCA) stated, on 5 June 2026, that the renewed “Agreement between the Taipei Representative Office in Singapore and the Singapore Trade Office in Taipei for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Tax Evasion and...