Scope: Middle East
Status requires verification
Extension of Small Business Relief for Corporate Tax Purposes until 31 December 2029
The UAE Ministry of Finance issued Ministerial Decision No. 131 of 2026 extending certain provisions of the corporate tax small business relief regime, allowing eligible businesses (annual revenue ≤ AED 3 million) to claim simplified compliance benefits through tax periods ending on or before 31 December 2029. This supports SMEs by maintaining a lighter reporting burden under Federal Decree-Law No. 47 of 2022. Implications include ensuring eligibility, planning ahead for potential revenue growth, and maintaining appropriate records.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 7, 2026
- Verification
- Not recorded
Open cited source
Scope: Middle East
Status requires verification
Ministry of Finance Announces Extension of Small Business Relief for Corporate Tax Purposes until 31 December 2029
UAE’s Ministry of Finance issued Ministerial Decision No. 131 (dated 7 August 2026) amending the corporate tax regime by extending the period during which Small Business Relief applies. Under the amendment, the threshold set under Ministerial Decision No. 73 of 2023 will continue to apply to tax periods ending on or before 31 December 2029. Small business relief allows taxable persons with annual revenues up to AED 3 million to benefit from simplified corporate tax compliance, subject to the conditions of the regime.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 7, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Making Tax Digital for Income Tax: deadline approaches for first quarterly update
Sole traders and landlords earning over £50,000 from self-employment and property must submit their first quarterly update under Making Tax Digital for Income Tax by 7 August 2026. This marks the start of a phased requirement for digital record-keeping, quarterly updates, and an annual digital return, with penalties applying in later years for missed updates. The tax return deadline of 31 January remains unchanged. Exemptions are available for those who are digitally excluded and for some other categories.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 7, 2026
- Verification
- Not recorded
Open cited source
Scope: United Kingdom
Status requires verification
Deadline approaches for first Making Tax Digital quarterly update
Sole traders and landlords earning more than £50,000 from self-employment or property income must submit their first quarterly update under Making Tax Digital for Income Tax by 7 August 2026, covering the period 6 April to 5 July 2026. The measure is part of HMRC’s push for real-time digital tax reporting and record keeping.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 7, 2026
- Verification
- Not recorded
Open cited source
Scope: Africa
Status requires verification
South Africa Issues New Income Tax Notices for Advance Pricing Agreements (APAs)
On 7 August 2026, SARS promulgated multiple income tax notices under Government Gazette 55152 establishing new rules for Advance Pricing Agreements (APAs), including eligibility, fees, rejection criteria, preliminary information requirements, and guidelines for implementation under the Income Tax Act, 1962. These changes affect taxpayers engaged in cross-border or related-party transactions seeking certainty in transfer pricing.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 7, 2026
- Verification
- Not recorded
Open cited source
Scope: Africa
Status requires verification
Notice prescribing the fees payable by an applicant in an application for a DTA advance pricing agreement (Notice 7787)
Published 7 August 2026 by SARS under section 76D, this notice sets out the fee structure that applicants must pay as part of their DTA advance pricing agreement application. It standardises costs, ensures transparency, and allows applicants to budget for pricing agreement submissions. This could affect cash-flow and strategic planning for multinational firms with cross-border related party dealings.
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 7, 2026
- Verification
- Not recorded
Open cited source
Scope: ASEAN
Status requires verification
SDK 1.0 Release for MyInvois System
On 6 August 2026, Malaysia’s HASiL released SDK 1.0 for MyInvois, which introduces stricter amount-field validation rules (maximum 26 digits), clarifies handling of tax‐exempt transactions (tax amount need not be 0.00 if exempt), adds document versions SVDP 1.2 (without digital signature) and 1.3 (with digital signature) under the Special Voluntary Disclosure Programme valid until 31 December 2027. These changes will take effect in the production environment from 23 October 2026. This policy impacts business entities issuing e-invoices to Malaysian buyers or suppliers. Failure to comply may result in rejection of invoice submissions.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 6, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Enhanced Digital Features for IRS Business Tax Account (IR-2026-87)
IRS expanded Business Tax Account capabilities: access to more digital notices, EIN verification notice CP575 downloadable, payment plan balance views, transcript access, managing payment schedules and users. Designed to improve self-service and reduce paper dependence.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 6, 2026
- Verification
- Not recorded
Open cited source
Scope: United States
Status requires verification
Notice 2026-28: Guidance on employer credit for Paid Family and Medical Leave under Working Families Tax Cuts
On August 5, 2026, Treasury and IRS issued permanent guidance clarifying how employers may claim the PFML employer credit under the Working Families Tax Cuts (WFTC), including documentation, eligible leave, and wage definitions. Businesses offering PFML should adjust policies accordingly.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 5, 2026
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
현금영수증 발급거부 신고포상금 제도 및 전자세금계산서 즉시전송 강화
Recent law amendments require cash receipt-issuing businesses to comply when consumers request receipts, penalizes refusal or mis-issuance, and introduces reward payments to consumers for reporting. Also mandates that electronic (tax) invoices (부가가치세 면세 거래 계산서 포함) must be issued electronically and XML files immediately transmitted to the NTS. Both aim to reduce VAT evasion and increase transaction transparency.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 5, 2026
- Verification
- Not recorded
Open cited source
Scope: South Korea
Status requires verification
발급거부 신고 및 미발급 신고포상금 한도 및 신고기한 강화
For consumers and third-parties: trading entities that refuse, falsely issue, or cancel cash receipts can be reported. Reporting deadline is within 5 years; rewards depend on size of transaction. Annual cap per individual is ₩1,000,000; fixed minimum amounts for small transactions. Affects especially businesses in consumer industries.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 5, 2026
- Verification
- Not recorded
Open cited source
Scope: Brazil
Status requires verification
Desistência de parcelamentos previdenciários (GFIP/SEFIP e GPS) já pode ser solicitada pelo e-CAC
Nova funcionalidade do sistema e-CAC permite que contribuintes pessoas físicas e jurídicas solicitem desistência de parcelamentos previdenciários totalmente digitalmente, sem necessidade de comparecimento presencial, para dívidas originadas de GFIP, SEFIP e GPS.
Editorial impact label: Low-Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 4, 2026
- Verification
- Not recorded
Open cited source
Scope: South Korea
Proposed
해양수산부, 어업법인 세금혜택은 계속, 어업용 면세유는 3년 연장
Under the 2026 tax reform proposal published in August 2026, tax benefits for fishing corporations (어업법인) including corporate income tax exemption, dividend income tax exemptions for cooperative members, and VAT exemptions on services remain permanent. Separately, exemptions for fuel (면세유) used by fishers are extended until 31 December 2029. This change replaces previous sunset clauses that had scheduled expiration by end-2026. Final statutes depend on parliamentary approval expected in late 2026 session. Implications: the fishing sector retains major tax reliefs, reducing operating costs and encouraging investment.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 4, 2026
- Verification
- Not recorded
Open cited source
Scope: South Korea
Proposed
어업 법인 세제혜택 상시화 및 어업용 면세유 3년 연장
기획재정부는 2026년 세제개편안에서 어업법인에 대한 법인세 면제, 조합원 배당소득 소득세 면제, 어업작업용역에 대한 부가가치세 면제 등의 기존 어업분야 세제 혜택을 종료기한 없이 상시화하고, 어업용 면세유 혜택은 2029년 12월 31일까지 3년 더 연장하기로 함.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 3, 2026
- Verification
- Not recorded
Open cited source
Scope: Middle East
Status requires verification
Adoption of “Aani” and “Jaywan” as New Payment Channels for Federal Service Fees and Fines
The UAE Ministry of Finance, through Cabinet Resolution No. (176M/4M) of 2026, adopted “Aani” (national instant payments via various identifiers) and “Jaywan” (national card payment scheme) as additional channels for federal service fees and fines, to modernize and integrate the government payments ecosystem, providing more flexible, digital-friendly options for businesses and individuals.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 3, 2026
- Verification
- Not recorded
Open cited source
Scope: Brazil
Status requires verification
Receita Federal publica alteração nas regras de atendimento relativas ao Imposto de Renda
Portaria RFB nº 713, de 30 de julho de 2026, veda o fornecimento presencial de cópia da Declaração de IRPF e respectivo recibo; documentos passam a ser disponibilizados apenas por canais digitais autenticados. Ajustes também nos procedimentos de atendimento presencial e digital. Entrou em vigor em 3 de agosto de 2026.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 3, 2026
- Verification
- Not recorded
Open cited source
Scope: Brazil
Status requires verification
Novo marco da Reforma Tributária inicia no dia 03/08 com preenchimento de campos relativos ao IBS e à CBS
A partir de 3 de agosto de 2026, documentos fiscais eletrônicos emitidos por empresas do regime regular devem conter os novos campos relativos ao Imposto sobre Bens e Serviços (IBS) e à Contribuição sobre Bens e Serviços (CBS). Sem esses campos, os documentos serão rejeitados. Essa exigência encerra o período adaptativo previsto no Ato Conjunto RFB/CGIBS nº 1/2025, e marca o início da validação obrigatória dos novos campos — embora, durante 2026, os tributos sejam apurados de caráter apenas **informativo**, desde que cumpridas as obrigações acessórias. Prova-álcance relevante para empresas para atualização de sistemas fiscais e emissão de notas conforme novos leiautes.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 3, 2026
- Verification
- Not recorded
Open cited source
Scope: South Korea
Proposed
어업법인 세제혜택 상시화 및 면세유 지원 3년 연장
정부는 2026년 세제개편안에서 어업법인에 대한 법인세 면제, 조합원의 배당소득 소득세 면제, 부가가치세 면제 등 기존의 어업 관련 세제혜택을 일몰 없이 계속 적용하며, 어업용 면세유에 대한 지원을 2029년 12월 31일까지 3년 더 연장하기로 함.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 3, 2026
- Verification
- Not recorded
Open cited source
Scope: Brazil
Status requires verification
Receita Federal publica alteração nas regras de atendimento relativas ao Imposto de Renda (Portaria RFB nº 713/2026)
Portaria RFB nº 713, de 30 de julho de 2026, veda o fornecimento presencial de cópia da declaração da DIRPF e do recibo de entrega em unidades físicas da Receita Federal. Documentos são disponibilizados apenas por canais digitais com autenticação; novos procedimentos se aplicam tanto em atendimento presencial quanto digital. Entrou em vigor a partir da publicação, 3 de agosto de 2026. ([gov.br](https://www.gov.br/receitafederal/pt-br/assuntos/noticias/2026/agosto/receita-federal-publica-alteracao-nas-regras-de-atendimento-relativas-ao-imposto-de-renda?utm_source=openai))
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 3, 2026
- Verification
- Not recorded
Open cited source
Scope: Latin America
Status requires verification
Buzón Tributario – Consideración de días inhábiles en México y fecha de recepción automática
Mexico’s SAT declared **20-31 July 2026** inhábiles for Buzón Tributario, meaning that any document, request or clarification presented in that period will be deemed filed on **3 August 2026**, per Código Fiscal and RMF modifications. This helps taxpayers avoid missing deadlines during those dates. ([wwwnp.sat.gob.mx](https://wwwnp.sat.gob.mx/minisitio/BuzonTributario/index.html?utm_source=openai))
Editorial impact label: Low
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Aug 3, 2026
- Verification
- Not recorded
Open cited source