Brazil, Cambodia considers negotiating for income tax treaty
Cambodia's Ministry of Economy and Finance announced, on 16 July 2026, that officials from Brazil and Cambodia met on 15 July 2026 to discuss bilateral cooperation. The two sides agreed to explore formal investment protections, a bilateral free
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Hong Kong, Morocco advance of tax treaty negotiations
Hong Kong Inland Revenue Department (IRD), in an update, reported that Hong Kong and Morocco concluded the second round of negotiations for an income tax treaty on 16 July 2026. This follows IRDโs announcement that Hong Kong and Morocco would
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Singapore updates guidance on current areas of GST audits
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
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Indonesia: Parliament approves new tax incentive framework for IFCs
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
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EU tariff activity surges with fruit tariffs, food controls, new China scrutinyย
This week in EU trade policy was a story of parallel streams. While the activation of over 300 pre-scheduled seasonal tariffs on fresh fruit dominated the middle of the week, regulators also signalled a new strategic focus by targeting Chinese glass
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China rolls out digital invoice implementation with regional phase-outs of paper invoices
China is advancing invoice digitalisation by phasing out paper invoices and expanding fully digital e-invoices as part of broader tax administration reforms to reduce costs, improve compliance, and support digital transformation. Zhejiang
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Amending protocol to 2013 India, Sri Lanka income tax treaty enters into force
India's Ministry of Finance (Department of Revenue) has issued Notification No. 88/2026 on 16 July 2026, confirming that the Protocol amending the 2013 income tax treaty with Sri Lanka entered into force on 19 June 2026. The amending protocol
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Singapore updates GST guidance on employee fringe benefits
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on Employee fringe benefits, providing additional clarification on the Goods and Services Tax (GST) treatment of benefits that employers provide to their employees. The
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Vietnam issues new regulations on electronic invoices
Vietnam has issued Decree No. 254/2026/Nฤ-CP, establishing detailed regulations on electronic invoices and electronic records under the Law on Tax Administration No. 108/2025/QH15. Effective from 1 July 2026, the Decree sets out the framework
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Taiwan clarifies foreign taxpayers of house, land transaction income tax filing rules
Taiwan's National Taxation Bureau has clarified, on 20 July 2026, that foreign taxpayers that income derived from qualifying house and land transactions must be reported separately from gross consolidated income under the Income Tax Act. The
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Australia: ATO holds fourth Pillar Two pre-lodgment information session
The Australian Taxation Office (ATO) has published a recap of its June Pillar Two information session on 14 July 2026. In June, the ATO held its fourth Pillar Two pre-lodgment information session, attended by more than 300 participants from
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Sri Lanka clarifies wide-ranging VAT reforms covering digital services, exemptions, compliance
Sri Lanka's Inland Revenue Department (IRD), on 3 July 2026, outlined sweeping changes to the country's Value Added Tax (VAT) regime following the certification of the Value Added Tax (Amendment) Act No. 14 of 2026 on 30 June 2026. The amendments
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Taiwan clarifies lower tax rates for inherited property sales through combined ownership periods
Taiwan's Ministry of Finance has clarified that taxpayers selling inherited or bequeathed real estate may qualify for a significantly lower property income tax rate by combining the ownership periods of successive deceased owners when calculating
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Bhutan: National Council approves income tax treaty with Singapore
Bhutan's National Council approved the income tax treaty with Singapore on 10 June 2026. Signed on 12 May 2026, the agreement clarifies the taxing rights of both countries on income arising from cross-border business activities, and addresses the
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Uzbekistan signs multilateral convention to tackle tax evasion and avoidance
The OECD has announced that Uzbekistan signed the OECD-Council of Europe Convention on the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention) as amended by the 2010 Protocol, on 15 July 2026. The
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Thailand issues guidance on foreign currency conversion for corporate income tax calculations
The Thailand Revenue Department has issued a guidance, on 7 July 2026, outlining the method that companies and juristic partnerships must use to convert foreign currency, foreign currency-denominated assets, and liabilities into Thai currency when
See MoreHong Kong: IRD extends filing deadline for 2025/26 profits tax returns under block extension scheme
The Hong Kong Inland Revenue Department confirmed, in a circular letter on 14 July 2026, that the due date for 2025/26 Profits Tax returns with Accounting Date Code "D" (accounting dates from 1 to 31 December 2025) is extended from 17 August 2026 to
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Australia updates guidance on R&D tax incentive eligibility for associated foreign corporations
The Australian Taxation Office (ATO) updated its guidance on 13 July 2026 regarding the eligibility requirements for research and development (R&D) activities undertaken by an R&D entity on behalf of an associated foreign corporation when
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