Tuesday, March 17, 2026
The UAE’s Federal Tax Authority (FTA) issued guidance on the Profit Margin Scheme (VATGPM1) on 5 January 2026. The scheme, an optional VAT method, is designed to prevent double taxation on certain goods. The guide outlines eligible goods and transactions, explains how to calculate VAT under the scheme, and details the record-keeping and reporting obligations...
Malaysia’s Ministry of Finance released updated policy notices on sales and services tax (SST) on 5 January 2026. The key updates are as follows: Effective 1 January 2026, the service tax on rental and leasing services will be revised to support the industry. The current rate of 8% will be lowered to 6%, while the...
Bulgaria’s National Revenue Agency (NRA) has issued detailed guidance, on 31 December 2025, on how taxpayers should handle tax and social security payments following the country’s adoption of the euro (EUR) from 1 January 2026, replacing the Bulgarian lev (BGN). Payments in euros, even during dual circulation Starting 1 January 2026, all public receivables collected...
Colombia’s tax authority (DIAN) issued Resolution No. 000240 on 24 December 2025, establishing a formal framework for reporting crypto-asset transactions. Under the resolution, digital asset service providers must collect and report specific financial information and user identities to DIAN. The rules align with the OECD’s Crypto-Asset Reporting Framework (CARF), which promotes international tax transparency through...
Iceland’s tax authority, the Revenue and Customs, has published a notification regarding the annual filing of the Country-by-Country (CbC) report on 25 November 2025. Pursuant to Act no. 90/2003 on income tax, entities subject to Country-by-Country reporting obligations must, during 2026 and within one month of the end of the 2025 financial year (31 January...
Japan’s Ministry of Finance (MoF) has released the highlights of the tax reform proposals for the fiscal year 2026. The key elements of the proposals are outlined below: （１）Income tax reform to address rising prices Introduce the scheme, based on the FY2025 Tax Reform Act, to raise the basic exemptions and the minimum guaranteed amount...
Italy’s government has published Legislative Decree No. 186/2025 in the Official Journal No. 288 of 12 December 2025 as part of its ongoing tax reform under Law No. 111/2023. The Legislative Decree No. 186/2025 introduces significant updates and rationalisations to the Value Added Tax (VAT/IVA) framework, particularly concerning the third sector, social enterprises, and non-commercial...
The US Internal Revenue Service (IRS) has released guidance to help individuals prepare for filing their 2026 tax returns on 6 January 2026. With the 2026 filing season quickly approaching, the Internal Revenue Service is urging taxpayers to take a few simple steps now to prepare for filing their 2025 federal income tax returns. Visit...
Bolivia’s tax authority (SIN) issued Normative Board Resolution RND 102500000053 on 30 December 2025, extending certain obligations for the 2024 tax year under the Unified Agricultural Regime (Régimen Agropecuario Unificado, RAU). The resolution provides taxpayers covered by the Unified Agricultural Regime (RAU) with additional time to submit their 2024 sworn declarations and meet their related...
Zimbabwe’s President has formally approved both the Finance Act and the Appropriation Act, giving legal effect to the measures outlined in the 2026 National Budget. Together, these laws implement the government’s fiscal and tax policy agenda for the 2026 financial year. The Finance Act brings into force a range of tax changes proposed in the...