Tuesday, March 17, 2026
The UK government will abolish the shadow Advance Corporation Tax (ACT) system from April 2026, streamlining the way businesses can use their existing ACT balances. Shadow Advance Corporation Tax (Shadow ACT) is a UK notional tax mechanism introduced on 6 April 1999 after the abolition of Advance Corporation Tax (ACT). It limits how quickly companies...
Taiwan’s Northern District National Taxation Bureau of the Ministry of Finance clarified today, 12 March 2026, that income derived by profit-seeking enterprises from investments in foreign financial products constitutes overseas income. Such income does not fall within the scope of withholding tax but is classified as overseas income. In accordance with Article 3, Paragraph 2...
The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the fourth quarter of the 2025-26 income year on 6 March 2025. For the quarter commencing on 1 April 2026, the GIC annual rate is set at 10.96%, and the SIC annual rate is set at...
The European Commission sent a letter of formal notice to France for applying national criteria to determine whether a parent company qualifies for a withholding tax exemption on subsidiary distributions, in its March 2026 infringements package. The Commission considers this requirement to be inconsistent with the EU Parent-Subsidiary Directive (Council Directive 2011/96/EU). This Directive provides...
The South African Revenue Service (SARS) has issued an explanation of the reporting obligations and deadlines for crypto-asset service providers (CAPSs) under the Crypto-Asset Reporting Framework (CARF). The first reporting period runs from 1 March 2026 to 28 February 2027. The CARF return for this initial period must be submitted to SARS by 31 May...
Belarus’s Ministry of Foreign Affairs reported that on 4 March 2026, officials from Belarus and Ghana met to strengthen bilateral cooperation, including negotiations on a tax treaty aimed at preventing double taxation and fiscal evasion. The talks covered a broad range of issues, with particular focus on preparations for the upcoming visit of Ghanaian President...
The income tax treaty between North Macedonia and Vietnam entered into force on 29 August 2025. Signed on 15 October 2014, the treaty is the initial income tax agreement between North Macedonia and Vietnam. The treaty applies to Macedonian personal income tax and profit tax, as well as Vietnamese personal income tax and business income...
The Inland Revenue Authority of Singapore (IRAS) updated its Country-by-Country (CbC) Reporting guidance on 6 March 2026, revising the list of jurisdictions with which CbC reports can be automatically exchanged. Jurisdiction Effective Financial Year (FY) Armenia FY 2025 Montenegro FY 2024 Mongolia FYs beginning 1 Dec 2023 Serbia FYs beginning 1 Dec 2023 Vietnam FYs...
Bhutan’s Department of Revenue and Customs reported that officials from Bhutan and Singapore completed the second and final round of negotiations for an income tax treaty on 6 March 2026. Officials resolved outstanding issues in the negotiations, reaching agreements that strengthen economic ties. The tax treaty will prevent double taxation and clarify taxing rights for...
Singapore’s Inland Revenue Authority has released updated guidance on the tax obligations of platform workers. This includes: Basic guide for platform workers The basic guide serves as a checklist for platform workers, including individuals such as taxi drivers, private-hire car drivers, and delivery riders. A critical part of managing these obligations is keeping proper records...