Saturday, September 19, 2026
Sri Lanka has enacted the Value Added Tax (Amendment) Act, No. 14 of 2026, introducing a series of changes to the Value Added Tax Act, No. 14 of 2002, including revised rules for digital services supplied by non-residents, higher tax rates for specified institutions, new compliance requirements and stricter enforcement measures. The Act was certified...
Taiwan’s Central District National Taxation Bureau of the Ministry of Finance stated that domestic businesses and organisations purchasing electronic services from foreign e-commerce platforms are required to declare and pay business tax in accordance with Article 36 of the Value-Added and Non-Value-Added Business Tax Act. The Bureau explained that if a foreign e-commerce platform’s annual...
Kazakhstan has launched a public consultation on 2 July 2026, on a package of amendments to the Tax Code of the Republic of Kazakhstan, with proposals intended to improve the investment climate, simplify tax administration, and address a number of administrative and tax issues affecting businesses. Among the proposed measures is the introduction of a...
The UK’s HM Revenue & Customs (HMRC) has published a policy paper on the Simplification of the Capital Goods Scheme on 8 July 2026. This measure details the simplification of the Capital Goods Scheme to reduce the administrative burden for VAT-registered businesses. General description of the measure VAT incurred on expenditure on certain capital assets...
According to a recent update from the Canadian government, Canada and France have signed a Competent Authority Arrangement establishing the procedures for applying the arbitration provisions under Part VI (Arbitration) of the OECD Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). The arrangement applies to arbitration under...
Canada and Saudi Arabia have launched negotiations on a bilateral income tax treaty, following an announcement by the Canadian Prime Minister’s Office on 9 July 2026. This initiative was announced as part of a broader economic strategy to unlock the full potential of their bilateral ties, promote two-way investment, support small and medium-sized enterprises, and...
Chile’s Internal Revenue Service (SII) issued Resolution No. 89 dated 26 June 2026, updating the lists of assets and their corresponding market values for purposes of applying the 2026 luxury tax. This tax framework imposes a 2% annual tax on the normal market value of specific high-value goods, including helicopters, airplanes, yachts, automobiles, station wagons,...
The Australian Taxation Office (ATO) has published a Memorandum of Understanding (MoU) with Japan, outlining the specific arbitration procedures established between the governments of both countries to resolve unresolved tax disputes. It serves as a practical framework for implementing Part VI of the Multilateral Convention, aiming to eliminate double taxation and prevent tax avoidance through...
Italy has received approval to continue applying its VAT split-payment system following the adoption, without discussion, of an EU Council Implementing Decision at the Economic and Financial Affairs (ECOFIN) Council meeting held on 10 July 2026. The regulation authorises Italy to continue utilising a split payment mechanism for Value Added Tax (VAT), which directs payments...
The Australian Taxation Office (ATO) announced on 8 July 2026 enhanced compliance measures targeting businesses that intentionally overstate deductible expenses and GST credit claims. ATO is strengthening compliance action on businesses that deliberately over-claim expenses and GST credits. This helps ensure a level playing field for small businesses that do the right thing. The ATO...