Thursday, October 29, 2026
The Albanian Council of Ministers approved an income and capital tax treaty with Lithuania on 2 September 2026. Signed on 25 May 2026, the agreement seeks to prevent double taxation and fiscal evasion between the two nations. The treaty will take effect following the exchange of instruments of ratification.
India and Mauritius signed an Agreement on Cooperation and Mutual Administrative Assistance in Customs Matters in Mumbai on 3 September 2026, according to India’s Central Board of Indirect Taxes & Customs (CBIC). Shri Vivek Chaturvedi, Special Secretary, Government of India and Chairman of CBIC, and Shri Rohit Ramnawaz, Director General of the Mauritius Revenue Authority,...
The UAE Federal Tax Authority (FTA) has issued VAT Public Clarification – VATP046, explaining amendments to Federal Decree-Law No. 8 of 2017 on Value Added Tax and its Executive Regulation. The amendments were introduced through Federal Decree-Law No. 16 of 2024, effective 30 October 2024 and Federal Decree-Law No. 16 of 2025, effective 1 January...
Taiwan’s Ministry of Finance issued a notice on 28 August 2026 clarifying the treatment of real estate transaction losses for profit-seeking enterprises selling properties subject to different tax rates during the same year. Under Articles 4-4 and 24-5 of the Income Tax Act, enterprises selling houses or land acquired after 1 January 2016 must calculate...
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) opened a public consultation on a draft classification of violations and penalties under the Real Estate Transaction Tax (RETT) regime on 3 September 2026. The proposal, prepared under Article 16 of the RETT Law, aims to establish a consistent framework for determining penalties and ensure proportionality between...
Singapore’s IRAS has updated its “Preparing a Tax Computation” guidance to explain how companies should determine their tax filing obligations following a change in financial year end. It covers cases where a company’s financial statements extend beyond 12 months and the resulting basis period may fall across two Years of Assessment (YA). Companies must notify...
Officials from Hong Kong and Uzbekistan will hold their first round of negotiations on an income tax treaty from 14 to 18 September 2026, according to an update from the Hong Kong Inland Revenue Department. If an agreement is reached, it will help prevent double taxation and combat fiscal evasion between the two countries. Any...
The OECD has released its annual report, Tax Policy Reforms 2026, on 8 September 2026, which examines and compares tax reforms introduced, or announced, in 2025 across 92 jurisdictions. The analysis reveals that while governments pursued growth-focused measures, responses to mounting fiscal pressures remained measured overall. Personal income tax becomes more progressive Tax authorities across...
The US Internal Revenue Service (IRS) announced on 8 September 2026 the opening of applications for the 2027 Compliance Assurance Process (CAP) programme, with submissions due by 30 October 2026. Notification of acceptance decisions will follow in February 2027. Real-time issue resolution for large corporations Since its 2005 launch, CAP has enabled major corporate taxpayers...
Brazil has published Complementary Law No. 236 of 4 September 2026, amending the National Tax Code (Law No. 5.172 of 1966) to enhance tax collection and limit the application of penalties. The legislation promotes consensual dispute resolution, establishes national standards for administrative tax proceedings, caps and moderates tax penalties, and aligns tax administration practices with...