Saturday, September 19, 2026
The Inland Revenue Authority of Singapore (IRAS) updated its guidance on the Current Areas of GST Audits, introducing clearer content, improved readability and new sections explaining the actions taxpayers should take and the consequences of errors or involvement in each audit area. The revised guidance continues to focus on four key areas: Missing Trader Fraud...
The UK government has announced today, 21 July 2026, that VAT on domestic electricity bills will be reduced from 5% to 0% from 1 October 2026, providing support to households ahead of the next Ofgem price cap as part of a package of cost-of-living measures introduced by Prime Minister Andy Burnham. The measure will apply...
The South African Revenue Service (SARS) has published a dedicated webpage on the implementation of its Advance Pricing Agreement (APA) programme, outlining the objectives, benefits and planned pilot phase as the authority prepares to launch the initiative in 2026. The APA programme is designed to provide upfront tax certainty for qualifying cross-border related-party transactions by...
The Italian Revenue Agency has published a new FAQ on the Pillar Two Global Minimum Tax (GMT) on 17 July 2026, expanding on the guidance first issued on 29 May 2026. While the original FAQs covered topics such as reporting obligations, safe harbour application, and currency standardisation, the latest FAQ clarifies the penalties for failing...
Indonesia’s parliament unanimously approved legislation that will let the government establish international financial centres (IFCs) across the country on Tuesday, 21 July 2026. The law aims to pull in foreign capital and support the government’s goal of hitting 8% annual economic growth by 2029. Southeast Asia’s biggest economy has struggled to develop its financial sector...
The Luxembourg parliament is considering a draft law submitted on 17 July 2026 that would amend the Law of 22 December 2023 on the minimum effective taxation of multinational enterprise groups and large national groups. The amendments would implement the OECD/G20 Inclusive Framework’s Pillar Two Side-by-Side package agreed in January 2026 and update Luxembourg’s rules...
Chile’s tax authority (SII) announced on 20 July 2026 that SII and Chile’s Copper Commission (Cochilco) hosted a conference on 13 July 2026, aimed at encouraging major mining companies to enter into advance pricing agreements—formal contracts that let operators agree upfront with the SII on how they’ll price goods sold between their own subsidiaries abroad....
President Donald Trump announced 50% tariffs on approximately USD 20 billion of Canadian imports on 20 July 2026, marking the first use of Section 338 of the Tariff Act of 1930 in nearly a century. The action targets a wide array of products—motor vehicles, alcohol, hockey sticks, cement, dairy, swimming pools, furniture, and wigs—set to...
Qatar has ratified the income and capital tax treaty with the UAE through Decree No. (39) of 2026, published in the Official Gazette on 25 June 2026. The treaty covers income taxes in both Qatar and the UAE, includes a mutual agreement tie-breaker for dual-resident entities, deems a service permanent establishment where services are provided...
Argentina has gazetted Law 27814 on 17 July 2026, which ratifies the amending protocol to its 1979 income and capital tax treaty with France. Signed on 6 December 2019, the protocol is the second to amend the treaty. It will enter into force 30 days after the exchange of instruments of ratification and will apply...