Policy updates

Proposed

Resolución de Superintendencia Nº 000199-2026

SUNAT published a proposed resolution modifying the annexes of the Local File informative transfer-pricing report, Virtual Form No. 3560, to incorporate information related to the application of other transfer-pricing valuation methods. Because the measure is identified as a project, it is treated as proposed rather than enacted. If finalized, it would expand the data expected from affected taxpayers preparing the Local File report.

Editorial impact label: Medium

Published

Oct 25, 2026

Policy event

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Effective

Oct 14, 2026

Verification

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Open cited source

Pakistan

Status requires verification

S.R.O. 1827(I)/2026 — Regarding substitution of Rule 231C of the Income Tax Rules, 2002

Pakistan’s Federal Board of Revenue listed S.R.O. 1827(I)/2026, issued on 14 October 2026, as a substitution of Rule 231C of the Income Tax Rules, 2002. Because the rule was substituted through a new statutory regulatory order, the change may alter the applicable procedural or administrative requirements under that rule. Taxpayers affected by Rule 231C should review the order text and update their compliance procedures.

Editorial impact label: Medium

Published

Oct 27, 2026

Policy event

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Effective

Oct 13, 2026

Verification

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Open cited source

Status requires verification

New PM cuts tax on household electricity bills to give breathing space on cost of living

From October 1, 2026, VAT will be removed from domestic electricity bills in the UK. This tax cut is aimed at reducing energy costs ahead of winter, funded by cancelling the Digital ID programme. Northern Ireland households will receive comparable support through government funding due to regulatory differences.

Editorial impact label: Medium

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

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Open cited source

Status requires verification

Government cuts VAT on household electricity bills from 1 October 2026

From 1 October 2026, VAT will be removed on household electricity bills across the UK. This measure aims to reduce the cost of living for millions of households and is funded by cancelling the Digital ID programme. All electricity suppliers are expected to pass this VAT reduction on to consumers, including those on fixed tariffs. Northern Ireland will receive comparable funding to ensure households there benefit equally. ([gov.uk](https://www.gov.uk/government/news/new-pm-cuts-tax-on-household-electricity-bills-to-give-breathing-space-on-cost-of-living?utm_source=openai))

Editorial impact label: High

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

Vaping Products Duty and the Vaping Duty Stamps Scheme start 1 October 2026

From 1 October 2026, a new excise duty on all vaping liquids (nicotine and non-nicotine) comes into force, and vaping products for retail sale must display a valid duty stamp. Businesses must prepare for transition: digital stamps available from 1 September; transitional paper stamps usable until 31 December 2026; after that only digital stamps accepted.

Editorial impact label: High

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

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Open cited source

Status requires verification

VAT removed from domestic electricity bills from 1 October 2026

The government announced that from **1 October 2026**, VAT on domestic electricity will be reduced from 5% to **0%**, to give households immediate relief on energy bills. The measure is funded by cancelling the Digital ID programme. It is aimed especially at easing cost pressures and reducing inflation. ([gov.uk](https://www.gov.uk/government/news/new-pm-cuts-tax-on-household-electricity-bills-to-give-breathing-space-on-cost-of-living?utm_source=openai))

Editorial impact label: High

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

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Open cited source

Proposed

Tax update 2026: simplification, modernisation and fairness summary

UK HM Treasury and HMRC published a tax package (June 2026) including consultations and legislative proposals to: remove double tax on certain overseas entities (including US LLCs), accelerate removal of duty relief on low-value imports (by October 2028), reform VAT treatment of land intended for social housing, strengthen penalties and powers around customs duty and VAT compliance. These measures aim to level the playing field between online and high-street, modernise systems and improve fairness.

Editorial impact label: Medium

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

Vaping Products Duty and the Vaping Duty Stamps Scheme start

From 1 October 2026, the UK is introducing a new excise duty on all vaping liquids (nicotine or not), accompanied by a mandatory duty stamps scheme. Businesses manufacturing, importing, or storing vaping liquids must have necessary HMRC approvals. Stamped retail packaging required from 1 October with unstamped stock clearance allowed until 31 March 2027. The initiative aims to support public health and combat youth vaping. Impact on pricing and supply for businesses in the vape supply chain.

Editorial impact label: High

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

令和８年度税制改正特集：消費税簡易課税制度とインボイス制度の特例見直し

Under the 令和８年度 tax reform: for sole proprietors whose taxable sales in the base period (two years earlier) are ¥10 million or less, and who register as invoice‐issuing operators, the special method applies so that in the final consumption tax filing for fiscal years 令和９年 and 令和10年, they may calculate payable tax as **30% of sales tax amount** (売上税額の３割) rather than the previous 20% special rule. Also, smoothing measures are provided to ease transition to simplified taxation under the invoice system. This change significantly impacts small business operators. Effective from fiscal year 令和９ onward for income calculation. Source published ~2 weeks ago.

Editorial impact label: Medium

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

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Open cited source

Status requires verification

New PM cuts tax on household electricity bills to give breathing space on cost of living

VAT on domestic electricity bills will be reduced from 5% to 0%, starting 1 October 2026; the measure is intended to ease cost-of-living pressures for UK households, especially those spending a high portion of income on energy. The Northern Ireland Executive will receive comparable funding to ensure households there benefit equally, despite EU VAT rate rules for goods.

Editorial impact label: High

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

Vaping Products Duty and Vaping Duty Stamps Scheme start

From 1 October 2026, the UK will implement a new Vaping Products Duty on all vaping liquids (nicotine-based or not), and require vaping products released for sale to carry a valid duty stamp. Transitional stamps are allowed until end December 2026; only digital stamps accepted from 1 January 2027. The rate is £2.20 per 10ml, and the policy is designed to tackle youth vaping and improve public health, also introducing traceability via digital stamps. Businesses in the vaping supply chain must obtain necessary approvals before the duty point and ensure packaging complies. Expected to raise over £550 million annually by 2030-31.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

Government urged to prepare for Vaping Products Duty registration from April 2026

UK introduces Vaping Products Duty (VPD) and Vaping Duty Stamps (VDS) from 1 October 2026; registration is now open. Businesses in vaping sector must register and prepare for upcoming compliance requirements.

Editorial impact label: Medium

Published

Not recorded

Policy event

Not recorded

Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

Check if you’re impacted by Vaping Products Duty and the Vaping Duty Stamps Scheme

A new excise duty on all vaping liquids will apply from **1 October 2026**, requiring duty stamps on individual units. From **1 April 2026**, businesses can apply for HMRC approval under the VPD and VDS schemes. Transitional stamps (physical features only) are available until 31 August 2026. The regime is designed to control illicit vaping product supply and raise revenue; non-compliant businesses face civil or criminal sanctions.

Editorial impact label: High

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

VAT on household electricity bills removed from 1 October 2026

The UK government announced on 21 July 2026 that VAT on electricity bills will be **removed from 1 October 2026**, applying to all customers (including fixed tariff customers). This measure is intended to give households “breathing space” amid high energy costs. It is funded by cancelling the Digital ID programme.

Editorial impact label: Medium

Published

Not recorded

Policy event

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Effective

Oct 1, 2026

Verification

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Open cited source

Status requires verification

Breathing space on your energy bill: Removal of VAT on household electricity bills from 1 October 2026

From 1 October 2026, VAT will be removed from domestic electricity bills (including for those on fixed tariffs and pre-payment meters). Funded through the cancellation of the Digital ID programme, this cuts bills by around £45/year for households. Small businesses, charities and residential care homes currently at reduced 5% rate will also move to 0%. Applies for the 2026-27 financial year. ([gov.uk](https://www.gov.uk/government/news/breathing-space-on-your-energy-bill?utm_source=openai))

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

New PM cuts VAT on domestic electricity bills from 1 October 2026

A new government policy removes VAT from domestic electricity bills, starting 1 October 2026, to reduce cost of living pressures. It is a funding-reallocated measure, offset by cancellation of other programmes (e.g. Digital ID programme). Suppliers are expected to pass VAT reduction to customers, including those on fixed tariffs. Northern Ireland is subject to EU VAT rates, but equivalent funding arrangements will apply for parity.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Proposed

Government backs high street with acceleration of cheap import reforms and crackdown on dodgy online sellers

Policy accelerates planned removal of customs duty relief on low-value imports (goods valued at £135 or less), bringing forward implementation by **six months to October 2028**. It also includes revamping VAT rules for online marketplace sellers to ensure compliance, reforming VAT on land for social housing and using revenues to ease business rates burdens for high-street retail, hospitality and hotels.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

Acceleration of low value import reforms and online marketplace VAT reform

UK government accelerates scrapping customs duty relief on goods valued under £135 (LVIs) from October 2028, aims to reform VAT collection by online marketplace rules to ensure compliance, and reallocates revenue to improve business rates for high street businesses. Part of wider tax update for simplification, fairness, and customer experience. Announced 23 June 2026.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

Breathing space on your energy bill: VAT removed from household electricity bills from 1 October 2026

From 1 October 2026 until 31 March 2027, domestic electricity bills in the UK will have VAT removed (0% charged instead of 5%). Applies to standing charges and usage. Includes fixed-tariff and prepayment meter customers. Small businesses, charities, residential care homes on reduced 5% VAT electricity rates also benefit. Gas remains at 5% VAT.

Editorial impact label: Medium

Published

Not recorded

Policy event

Not recorded

Effective

Oct 1, 2026

Verification

Not recorded

Open cited source

Status requires verification

Vaping Products Duty and Vaping Duty Stamps Scheme approval process opens for UK businesses

This policy introduces a new excise duty on all vaping liquids (nicotine or not) and a duty stamp scheme. From 1 April 2026 businesses can apply for approval; from 1 October 2026 VPD becomes payable and duty stamps must be on products; complete transition by 1 April 2027. Designed to tackle illicit trade and standardize compliance within the vaping supply chain. Impact is medium, affecting manufacturers, importers, warehousekeepers, and retailers.

Editorial impact label: Medium

Published

Not recorded

Policy event

Not recorded

Effective

Oct 1, 2026

Verification

Not recorded

Open cited source