Saturday, September 19, 2026
China and the US are seeking feedback from businesses and other stakeholders on proposed reciprocal tariff reduction arrangements covering about USD 30 billion in bilateral trade, China’s Ministry of Commerce (MOFCOM) said on 23 July 2026. Speaking at a press briefing, Meng Huating, director of MOFCOM’s Department of Foreign Investment Administration, said: “The Chinese side...
Italy will apply its planned EUR 2 levy on low-value commercial parcels in addition to the European Union’s customs duty, Economy Minister Giancarlo Giorgetti told parliament on 8 July 2026. Under the proposal, the Italian government will impose the EUR 2 levy on parcels with a commercial value of up to EUR 150. Giorgetti said...
Luxembourg’s Government Council has approved a draft law to extend mandatory electronic invoicing to domestic business-to-business (B2B) transactions between businesses established in the country. The proposal, approved on 17 July 2026, remains subject to parliamentary approval before it can enter into force. The draft law would expand the existing electronic invoicing requirement, which currently applies...
Taiwan’s National Taxation Bureau of the Central Area, Ministry of Finance, stated that Article 38 of the Income Tax Act stipulates that losses incurred not in the course of operation of business or subsidiary business, as well as surcharges for delinquent reporting, non-reporting, and delinquent payment of tax as provided in various tax laws, and...
Belgium’s Federal Public Service (SPF) Finance has updated its Pillar Two guidance on 23 July 2026 to introduce a new Pillar Two mandate, allowing companies to formally appoint a professional representative, such as an accounting firm or an independent proxy, to manage their Pillar Two global minimum tax obligations. Once the mandate is activated through...
The Australian Taxation Office (ATO) has updated the Division 7A benchmark interest rate used to calculate the minimum repayments required for amalgamated private company loans to shareholders on 1 July 2026. If the required repayment is not met, the shortfall is generally treated as a deemed dividend. The ATO has set the Division 7A benchmark...
UAE’s Federal Tax Authority (FTA) has reported on 21 July 2026, an increase in the number of beneficiaries of the VAT Refund Scheme for UAE Nationals Building New Residences during the first half of 2026. The Authority approved approximately 4,000 refund applications submitted by UAE nationals for VAT incurred during the construction of their new...
Taiwan’s Southern Area National Taxation Bureau of the Ministry of Finance stated that when an individual trades shares, new share entitlement certificates, share payment certificates, or certificates representing rights issued or privately placed by a company that is not listed on a stock exchange or traded at a securities dealer’s business premises, the resulting gains...
Algeria deposited its instrument of ratification for the OECD–Council of Europe Convention on Mutual Administrative Assistance in Tax Matters, as amended by the 2010 Protocol, on 16 July 2026, according to an OECD update on 20 July 2026. This follows Algeria gazetting the decree on 30 November 2025. The Convention will enter into force for...
Thailand’s Cabinet approved in principle a draft Royal Decree under the Revenue Code at its meeting on 21 July 2026, revising tax measures supporting Social Enterprises through amendments to Royal Decree (No. 735) B.E. 2564 (2021). According to Press Release No. PR 17/2026, issued on 21 July 2026, the proposed amendments are designed to strengthen...