The Colombian Government issued Decree 1474 due to an Economic Emergency, introducing temporary tax measures for 2026 to address a fiscal gap. VAT and excise tax increases apply to liquor, cigarettes, and certain vehicles. Equity tax threshold lowered and progressive rates increased. A special 1% tax on hydrocarbons/coal is extended, and a 19% normalization tax on undeclared assets initiates. Pena... Read more

UAE VAT is crucial for businesses, with a standard rate of 5% on most goods/services. Zero-rated supplies allow input VAT recovery, while exempt supplies incur hidden costs. Compliance and documentation are essential for strategic business insights. Value-Added Tax (VAT) is essential for businesses in the UAE. Understanding rates and compliance impacts your bottom line. Standard Rate: 5% Applies... Read more

On 1 January 2025, Saudi Arabia extended ZATCA’s initiative to cancel penalties for taxpayers until June 2026. Eligible taxpayers must submit returns and pay dues, excluding evasion penalties and those already paid. On 1 January 2025, Saudi Arabia’s Minister of Finance approved a six-month extension of ZATCA’s Initiative to Cancel Fines and Exempt Taxpayers from Financial Penalties. Th... Read more

New Zealand is rolling out e-invoicing in phases, emphasizing government procurement and using the Peppol framework. While adoption is voluntary for businesses, large suppliers will be mandated to send e-invoices by January 1, 2027. E-invoices must follow the Peppol BIS Billing 3.0 specification and include essential GST-related information. The focus is solely on domestic transactions, with no im... Read more

Malaysia has delayed mandatory MyInvois e-invoicing for businesses with RM1m–RM5m (€190k – €980k) turnover to 1 January 2027, with an extended penalty-free transition, citing readiness and cost concerns. This follows the increase of the exemption threshold to RM1 million, which removes smaller businesses from the scope and cancels the RM500k–RM1m rollout. Larger taxpayers remain on the existing ti... Read more

Inland Revenue Department confirmed that Pillar Two top-up tax filings in Hong Kong will be mandatory via an electronic portal from January 2026. In-scope Part 4AA entities must submit notifications and returns through the new Pillar Two Portal, accessed via the Business Tax Portal (BTP), using an organisational e-cert with AEOI functions. While Pillar Two applies to fiscal years starting 1 Januar... Read more

State Taxation Administration issued Announcement No. 2 of 2026, effective 1 January 2026, introducing stricter rules for general VAT taxpayer registration with retroactive effect. Taxpayers exceeding the small-scale sales threshold must register (with limited exemptions), certain sectors are mandatorily included, and late registration leads to automatic backdated reclassification and filing corre... Read more