Saturday, August 29, 2026
Australia passed legislation on 20 August 2026 that imposes financial penalties on tech companies that refuse to pay local publishers for news. The News Bargaining Incentive taxes digital platforms 2.5% of their Australian advertising revenue unless they secure commercial agreements with media outlets. The measure applies to Meta, Alphabet’s Google, TikTok, and Microsoft’s LinkedIn—specifically those...
Switzerland will introduce individual taxation from 2032 after the Federal Council decided on 19 August 2026 to use the latest date permitted under the Federal Act on Individual Taxation. The decision gives the cantons additional time to make the political and technical changes required to implement the new system. Swiss voters approved the Federal Act...
Korea (Rep.) plans to establish a future response fund to use additional tax revenue from strong economic periods to support younger people and invest in future growth industries, the budget ministry said on Friday, 21 August 2026. The fund would support youth employment, housing, asset building, marriage and childbirth, as well as investment in artificial...
The South African Revenue Service (SARS) opened public consultation on the SARS Consultation Paper on Value Added Tax (VAT) Modernisation: E-invoicing, Interoperability Framework and E-reporting in August 2026, seeking stakeholder views on plans to modernise VAT administration. The proposal would shift South Africa’s current retrospective, declaration-based VAT administration towards a digitally enabled system based on...
India published the Taxation and Other Laws (Amendment) Act, 2026 (Act No. 21 of 2026) in the Official Gazette on 17 August 2026 after receiving the President’s assent. The legislation amends the Income-tax Act, 2025 and other laws, with most provisions deemed to have come into force retrospectively from 1 April 2026. The Act aims...
The Lithuanian State Tax Inspectorate (VMI) updated the commentary to the Law on Corporate Income Tax on 19 August 2026, with changes concerning several definitions under Article 2 of the Lithuanian Corporate Income Tax Law (PMĮ). The guidance provides clarification on the application of control thresholds and the treatment of income from foreign entities. Controlled...
The US Treasury and IRS issued the proposed regulations on 18 August 2026. The rules would apply the eligibility requirements under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA) to the refundable portions of the adoption tax credit, child tax credit, American opportunity tax credit, and earned income tax credit. Background PRWORA...
The Australian Senate approved the Treasury Laws Amendment (Tax Reform No. 2) Bill 2026 on 19 August 2026, following its passage by the House of Representatives on 18 August 2026. The Bill is a legislative package designed to implement key business tax reforms and regional sports initiatives announced in the 2026–27 Federal Budget. The legislation...
The Financial Administration of the Slovak Republic has published new guidelines on the minimum tax applicable to legal entities, taking into account amendments introduced by Law 261/2025 of 24 September 2025. The guide explains the Slovak Republic’s minimum income tax for legal entities, effective from 1 January 2026. Companies must pay the minimum tax when...
China’s tax authorities have implemented a 20% levy on offshore trust structures, creating immediate pressure on wealthy mainland investors to recalculate their liabilities and restructure holdings. The new rules, introduced in late July 2026, mark a significant escalation in China’s campaign against capital outflows and untaxed foreign income. Effect on the wealthy Chinese tax authorities...