Saturday, August 08, 2026
Rwanda’s government has published Ministerial Order No. 004/26/10/TC of 29 April 2026 in the Official Gazette No. Special of 29/04/2026, which introduces several key changes and measures regarding Value Added Tax (VAT) on online services, industrial tax exemptions, and invoice adjustments. The Ministerial Order implements Article 3 of the VAT Act 2023, bringing electronic and...
The Bangladesh government is preparing sweeping tax cuts across multiple sectors in its upcoming 2026-27 budget, designed to make Bangladesh a more attractive investment destination. The push includes reduced advance income tax (AIT) rates, slashed withholding taxes, and comprehensive exemptions for emerging entrepreneurs—measures officials describe as unprecedented in scale. Sweeping tax reductions across import and...
The US Internal Revenue Service (IRS) issued the 2025 Data Book on 5 June 2026, detailing the agency’s activities during fiscal year 2025. The report provides a statistical overview of the agency’s operations and the work employees performed to meet statutory responsibilities. “Fiscal Year 2025 was a pivotal year, as we began the process of...
The OECD released the common understanding of implementing jurisdictions on the centralised filing and exchange of the GloBE Information Return (GIR) on 18 May 2026. 33 of the 37 implementing countries, which impose a reporting obligation from the 2024 financial year and for which multinational enterprise groups (MNE groups) must submit their GloBE Information Report...
Bangladesh’s government plans to roll out sweeping deregulation reforms aimed at reducing business friction, streamlining licensing requirements, and overhauling tax administration. Finance Minister Amir Khosru Mahmud Choudhury will dedicate a full chapter of the fiscal 2026-27 budget speech to “Ease of Doing Business through Deregulation,” with measures designed to lower operational barriers for both domestic...
Croatia’s Ministry of Finance issued the Regulations (Ordinance) of 15 May 2026 on Minimum Global Corporate Profit Tax (published in Narodne novine No. 53/2026), providing the detailed legal framework for implementing the Global Minimum Corporate Tax Act. These regulations establish the procedures for registering responsible entities, calculating and collecting top-up taxes, and ensuring that Croatian...
The Hong Kong Inland Revenue Department (IRD) has revised its guidance on the global minimum tax and Hong Kong minimum top-up tax for multinational enterprise groups, including the release of the GloBE Information Return (GIR) XML Schema and user guides. It also allows Part 4AA entities—MNE group members within the scope of Hong Kong’s global...
Officials from the Montenegro Ministry of Finance and Spain signed a new Agreement on the Avoidance of Double Taxation and the Prevention of Income Tax Evasion on 5 June 2026 in Tivat, on the sidelines of the European Union–Western Balkans Summit. The treaty is designed to remove the risk of double taxation for individuals and...
India has published the Income-Tax (Amendment) Commencement Ordinance 2026 in the Official Gazette on 5 June 2026, introducing a targeted set of tax reforms aimed at strengthening foreign participation in Indian Government securities markets. The Ordinance is designed to encourage greater global investment by modifying the Income-tax Act, 2025 to provide specific tax exemptions on...
The Inland Revenue Authority of Singapore (IRAS) has revised its guidance on the registration requirements for the Multinational Enterprise Top-up Tax and the Domestic Top-up Tax. Following the 2024 Budget, Singapore has introduced new global minimum tax rules under the Multinational Enterprise (Minimum Tax) Act 2024. These apply from financial years starting on or after...