Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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Guidance: Agent update: issue 144
HMRC's Agent Update Issue 144 provides guidance for tax agents and advisers in the UK, covering updates across multiple tax areas including compliance, PAYE, VAT, self-assessment, and other HMRC administrative matters. These periodic updates serve as a key communication channel between HMRC and tax professionals, outlining procedural changes, deadline reminders, and policy developments. The publication is relevant to agents managing client tax affairs across income tax, VAT, and payroll obligations, making it a broad but genuine tax resource for practitioners operating within the UK tax system.
Guidance: Simple Assessment payment plan: service availability and issues
HMRC's guidance on the Simple Assessment payment plan covers service availability and known issues for taxpayers using this facility. Simple Assessment is used by HMRC to collect income tax without requiring a full self-assessment return, typically for individuals with straightforward tax liabilities such as pensioners or employees with underpaid tax. The payment plan allows taxpayers to spread their liability over time. This guidance is directly relevant to personal income tax administration in the UK, helping taxpayers and agents navigate system availability and technical issues when setting up instalment arrangements.
Guidance: VAT payment plan: service availability and issues
HMRC's guidance on the VAT payment plan outlines service availability and known issues for businesses seeking to spread their VAT liabilities through a time-to-pay arrangement. This facility allows VAT-registered businesses in the UK to set up instalment plans when they are unable to pay their VAT bill in full by the due date. The guidance helps businesses and agents understand system downtime, technical issues, and alternative contact options. It is directly relevant to VAT compliance and cash flow management for UK businesses navigating deferred payment obligations with HMRC.
Trump’s Wall, the Tariff Wall
This article examines Trump's tariff policies, drawing a parallel between his proposed physical border wall and the 'tariff wall' created through sweeping import duties. It analyzes the economic implications of using tariffs as a trade and immigration enforcement tool, discussing how broad tariff increases function as a tax on imports affecting consumers and businesses. The piece critiques the use of tariffs as leverage across multiple policy goals, highlighting the costs imposed on the U.S. economy and the distortionary effects of treating tariffs as a multipurpose policy instrument rather than a focused trade measure.
Tax Credits Manual
The HMRC Tax Credits Manual is an internal guidance document used by HMRC staff to administer the UK's tax credits system, covering Working Tax Credit and Child Tax Credit. It provides detailed procedural and legislative guidance on eligibility, claims, renewals, overpayments, and compliance. While tax credits are technically distinct from income tax, they are administered by HMRC and directly interact with personal income tax and payroll systems. The manual is a key reference for understanding how low-income working households are supported through the UK tax and benefits framework.
Tax Practice Weekly Update – Issue 23 (18/06/2026)
The South African Institute of Tax Professionals (SAIT) publishes its Tax Practice Weekly Update Issue 23, dated 18 June 2026. This recurring publication provides tax practitioners in South Africa with timely updates on tax developments, legislative changes, SARS guidance, and practice management matters. As a professional body newsletter, it covers a broad range of South African tax topics relevant to practitioners, including compliance deadlines, regulatory updates, and technical tax issues. The publication serves as a key resource for keeping tax professionals informed of the latest developments across multiple tax heads in the South African tax landscape.
Brazil: New CBS Rules, what Non-Resident Digital Suppliers Need to Know
Brazil is introducing new Contribution on Goods and Services (CBS) rules that significantly impact non-resident digital suppliers. The CBS, part of Brazil's broader indirect tax reform replacing PIS/COFINS, imposes obligations on foreign companies providing digital services to Brazilian consumers. Non-resident suppliers must understand registration requirements, compliance timelines, and how the CBS interacts with the existing digital services framework. The reform represents a major shift in Brazil's VAT/GST landscape, requiring international digital businesses to reassess their Brazilian tax obligations and operational structures to ensure compliance with the new contribution framework.
BMP questions budget’s ambitious tax target, fears more reliance on levies
The Businessmen Panel (BMP) has raised concerns over Pakistan's federal budget, questioning the government's ambitious tax collection targets and warning of increased reliance on indirect levies. BMP fears the targets are unrealistic and that failure to meet them will push authorities toward imposing additional taxes and levies on the business community. The panel highlights structural weaknesses in the tax base and calls for broadening the tax net rather than burdening existing taxpayers. The critique reflects broader anxiety among Pakistani businesses about fiscal policy direction and the sustainability of revenue mobilization strategies for the upcoming fiscal year.
Balochistan presents Rs1.089tr surplus budget for FY2026-27
Balochistan province has presented a surplus budget of Rs1.089 trillion for fiscal year 2026-27, marking a significant fiscal milestone. The budget outlines revenue projections and expenditure allocations, with the surplus reflecting improved fiscal management and transfers from the federal government. The budget's tax revenue components and provincial fiscal targets are central to its structure, with implications for how Balochistan meets its development and recurrent spending obligations. The presentation signals the province's fiscal positioning within Pakistan's broader intergovernmental finance framework and its approach to balancing development needs with revenue constraints.
FBR reveals 9,000 Pakistanis hold Rs750b in bank deposits but pay no income tax
Pakistan's Federal Board of Revenue (FBR) has disclosed that approximately 9,000 Pakistani individuals hold bank deposits totalling Rs750 billion yet pay no income tax, highlighting a significant gap in tax compliance and enforcement. This revelation underscores persistent challenges in broadening the personal income tax base in Pakistan. The FBR's data points to wealthy non-filers evading tax obligations despite substantial financial assets. Authorities are expected to use this information to pursue enforcement actions and bring high-net-worth non-compliant individuals into the tax net, as Pakistan seeks to improve its tax-to-GDP ratio under IMF program commitments.
Are Digital Services Taxes a Viable Solution for the EU Budget?
This article examines whether digital services taxes (DSTs) could serve as a viable revenue source for the EU budget. It analyzes the structure and economic implications of DSTs, which typically target large tech companies' revenues from digital activities. The piece explores the feasibility of using DSTs at the EU level as an own resource, weighing potential revenue gains against concerns about economic distortion, international trade tensions, and the compatibility of DSTs with broader global tax reform efforts under Pillar One. The analysis considers whether DSTs represent sound tax policy or a problematic revenue-raising mechanism for EU fiscal needs.
France’s September e-Invoicing Deadline: Is Your Business Ready?
France's mandatory B2B e-invoicing regime is approaching its September 2026 deadline, and businesses must ensure readiness for compliance. The article outlines the requirements under France's Chorus Pro-linked framework, including the obligation to issue structured electronic invoices through accredited platforms (PDPs) and to report transaction data to the tax authority. Companies are urged to assess their ERP systems, onboard with a certified PDP, and validate their data flows ahead of the deadline. Non-compliance risks penalties and operational disruption, making timely preparation critical for both domestic French businesses and foreign companies with French VAT obligations.
EU – Customs Duty Levy for Low-Value Imports: New EUR 3 Fee and Compliance Rules from 2026
The EU is introducing a EUR 3 customs duty levy on low-value imports effective 2026, targeting the de minimis exemption that currently allows goods valued under EUR 150 to enter the EU without customs duties. This reform aims to level the playing field between EU and non-EU sellers, particularly addressing the surge in low-value e-commerce parcels from platforms like Shein and Temu. The new fee will apply per consignment and introduces compliance obligations for sellers and platforms facilitating such imports. The change forms part of broader EU customs reform efforts to modernize trade rules and capture revenue from high-volume, low-value shipments.
Accredited official statistics: Earnings and employment from Pay As You Earn Real Time Information, UK: June 2026
Official accredited statistics from HMRC covering earnings and employment data derived from Pay As You Earn (PAYE) Real Time Information (RTI) submissions for June 2026. This dataset provides insights into UK labour market trends including employee numbers, median pay, and payroll figures reported by employers through the RTI system. The data serves as a key indicator of payroll activity and wage growth across the UK economy, reflecting employer compliance with PAYE reporting obligations and offering policymakers and analysts timely information on workforce and earnings developments.
OECD: Consultation launched on digital platform reporting rules
The OECD has launched a consultation on digital platform reporting rules, targeting the growing gig and sharing economy. These rules require digital platforms to collect and report seller data to tax authorities, enabling cross-border information exchange to ensure income earned through platforms is properly taxed. The consultation seeks stakeholder input on implementation details, compliance burdens, and international coordination. This initiative builds on the OECD's Model Rules for Reporting by Platform Operators, which many jurisdictions are already adopting into domestic legislation, with significant implications for VAT/GST compliance and personal income tax reporting across member and non-member countries.
Norway’s e-invoicing mandate officially approved
Norway has officially approved an e-invoicing mandate, marking a significant regulatory development for businesses operating in the country. The mandate establishes requirements for electronic invoicing, aligning Norway with broader European trends toward digital tax compliance and reporting. Businesses will need to adopt compliant e-invoicing systems to meet the new regulatory requirements. This development represents a major shift in how Norwegian businesses will handle invoicing processes, with implications for tax reporting, VAT compliance, and administrative efficiency. Companies operating in Norway should assess their current invoicing infrastructure to ensure readiness for the mandate's implementation.
Singapore – Changes to GST Accounting Periods
Singapore's Inland Revenue Authority of Singapore (IRAS) is implementing changes to GST accounting periods effective 2026. The updates affect how businesses report and file their GST returns, modifying the permissible accounting period cycles available to GST-registered businesses. These changes are intended to streamline GST administration and align reporting cycles more consistently across taxpayers. Businesses will need to review their current accounting period elections and assess whether adjustments are required to comply with the new rules. Companies using non-standard accounting periods should engage with IRAS guidance to ensure timely transition and avoid compliance issues arising from the revised framework.
Treasury Department Says Expect Guidance Soon on New Scholarship Tax Credit
The U.S. Treasury Department has announced that guidance is forthcoming on a new scholarship tax credit, likely introduced as part of recent tax legislation. The credit is expected to provide tax relief related to educational scholarships, and Treasury's upcoming guidance will clarify eligibility requirements, calculation methods, and compliance obligations for taxpayers and institutions. The announcement signals regulatory activity around the new provision, with practitioners and affected parties awaiting formal rules to implement the credit correctly in tax filings and planning strategies.
Your questions about how to use AI in audit workflows answered
This article addresses common questions about integrating AI into audit workflows, focusing on practical applications for tax and accounting professionals. It explores how AI tools can streamline audit processes, improve accuracy, and enhance efficiency in tax-related audit tasks. The content covers implementation challenges, best practices, and how AI assists in data analysis, anomaly detection, and documentation review within audit contexts. Thomson Reuters provides guidance on leveraging AI capabilities to modernize traditional audit approaches, helping tax professionals handle larger data volumes and complex compliance requirements more effectively.
Pritzker OKs $56 Billion Illinois Budget with New Taxes on Social Media, Crypto, Digital Ads
Illinois Governor Pritzker has signed a $56 billion state budget introducing several new tax measures targeting digital activities. The package includes new levies on social media platforms, cryptocurrency transactions, and digital advertising services. These measures are designed to broaden Illinois's tax base and address revenue needs within the state budget. The digital advertising tax mirrors similar initiatives debated at state and federal levels across the US. The crypto tax provision reflects growing state-level efforts to capture revenue from digital asset activity. The budget represents a significant expansion of Illinois's tax policy into emerging digital economy sectors.
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