Policy updates

Proposed

Notice 2026-40: Transitional Guidance on Qualified Opportunity Zones under §§ 1400Z-1 and 1400Z-2

Treasury and IRS issue transitional guidance relating to QOZ investments under the One, Big, Beautiful Bill Act (OBBBA), clarifying how prior definitions (pre-OBBBA) apply to stock acquired on or before December 31, 2026, and defining terms like ‘‘qualified opportunity zone stock’’ and use and holding period rules during transition.

Editorial impact label: Medium

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Jul 6, 2026

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Bangladesh

Status requires verification

Revised Withholding Tax Rules (“ উৎসে কর বিধিমালা, ২০২৬ (সংশোধিত)”) in Bangladesh

Bangladesh updated its Withholding Tax Regulations via "উৎসে কর বিধিমালা, ২০২৬ (সংশোধিত)" effective 6 July 2026. Changes affect rates and scope of withholding tax on various income sources. Taxpayers (payors and payees) must adjust deductions accordingly under the amended rules.

Editorial impact label: High

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Jul 6, 2026

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Bangladesh

Status requires verification

Providing tax exemption for electricity generated from renewable solar energy sources (Bangladesh)

Bangladesh’s National Board of Revenue (NBR) has issued a Gazette granting **tax exemption** on income derived from **electricity generated from renewable solar sources**, under its Finance Act 2026. This benefits solar power producers, reducing taxable income or eliminating income tax on qualifying solar generation operations. The policy encourages investment in renewable energy, lowering costs, increasing adoption.

Editorial impact label: Medium

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Jul 6, 2026

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Bangladesh

Status requires verification

Withholding Tax Rules Amendment for Specified Persons in Bangladesh (Withholding Tax Rules, 2026 – Amendment)

The NBR has issued amended Withholding Tax Rules, 2026, which clarify and expand the definition of “specified person” who must deduct tax at source. The rules affect payors and increase disclosure and compliance obligations.

Editorial impact label: High

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Jul 6, 2026

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Notification No. 74/2026: Non-Deduction of TDS on Aircraft Lease Rent to IFSC Units

CBDT Notification No. 74/2026 provides that **aircraft lease rent payments** made to IFSC Units shall **not** be subject to TDS under Section 147 of the Income-tax Act, 2025. The rule facilitates international leasing arrangements and lowers withholding costs for aircraft lessors operating via eligible IFSC Units.

Editorial impact label: Medium

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Jul 6, 2026

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Notification No. 75/2026: Non-Deduction of TDS on Ship Lease Rent Paid to IFSC Units under Section 147 of Income-tax Act, 2025 (India)

Notification No. 75/2026 states that payment of ship lease rent to IFSC units shall similarly be exempt from TDS deduction by lessees, subject to similar procedural requirements under section 147 of Income-tax Act, 2025 (including statement-cum-declaration).

Editorial impact label: Medium

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Jul 6, 2026

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Bangladesh

Proposed

Tax-Free Income Threshold Increase & Five-Year Progressive Plan (Bangladesh Budget 2026)

In the Budget of Bangladesh for 2026, the National Board of Revenue proposed increasing the tax-free income threshold for individual taxpayers from **BDT 350,000 to BDT 375,000** for Assessment Years 2026-27 and 2027-28, with further increases proposed in subsequent years. This is part of a **five-year progressive tax plan** to align tax rates with rising cost of living and fairness.

Editorial impact label: Medium

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Jul 6, 2026

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Proposed

Proposed Regulations for Qualified Opportunity Zones under OBBBA

Following the One, Big, Beautiful Bill Act (OBBBA) of July 4, 2025, the IRS and Treasury intend to issue proposed regulations under IRC §§ 1400Z-1 and 1400Z-2. These regulations will include transitional guidance related to qualifying investments, the 25-percent-limitation on Qualified Opportunity Zone (QOZ) nominations by state governors, and changes to how Qualified Opportunity Zones in Puerto Rico are treated after December 31, 2027.

Editorial impact label: High

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Jul 6, 2026

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Отменена административная ответственность за нарушение срока представления налоговой декларации или расчета по страховым взносам

Федеральным законом № 220-ФЗ от 4 июля 2026 года статья 15.5 КоАП РФ, накладывавшая ответственность (штраф или предупреждение) на должностных лиц за несвоевременную сдачу деклараций или расчётов по страховым взносам, признана утратившей силу; все начатые производства по ней прекращаются.

Editorial impact label: Medium

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Jul 4, 2026

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Федеральный закон от 04.07.2026 № 228-ФЗ «О пороге доходов для уплаты НДС на УСН»

Документ сохраняет лимит доходов для налогоплательщиков на упрощённой системе налогообложения (УСН), при превышении которого они обязаны исчислять НДС, на уровне **20 млн рублей** до конца **2029 года**. Ранее планировалось снижение порога: до **15 млн** в 2027, до **10 млн** с 2028. Закон уже вступил в силу с даты подписания 4 июля 2026.

Editorial impact label: High

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Jul 4, 2026

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Лимит доходов для освобождения от уплаты НДС по УСН сохранён на уровне 20 млн руб. до 2029 года

Federal Law № 228-ФЗ, signed on 4 July 2026, extends the income threshold of 20 million rubles for businesses under the simplified taxation system (УСН) to avoid VAT registration, maintaining that threshold through 2027-2029. This provides small enterprises certainty that they won’t automatically become VAT payers until crossing that threshold in those years.

Editorial impact label: Medium

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Jul 4, 2026

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Turkey’s Notification and Tax Treatment of Foreign Assets

Turkey introduced a General Communiqué (Seri No: 1) under Law 7582 to allow **real and legal persons** to **report foreign-located assets** (money, gold, foreign securities etc.) by **31 July 2027**, and to get favourable tax treatment if they bring them home or formalize domestic un-recorded assets via notification. Reduced rates (%3 or %4 etc.) apply depending on holding period and nature of asset. Also procedures for correction, penalty relief, etc. are defined. This measure aims to draw undeclared assets into registry and widen tax base.

Editorial impact label: Medium

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Jul 4, 2026

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Приняты законы, смягчающие процедуры привлечения налогоплательщиков к ответственности

Федеральный закон № 201-ФЗ от 26 июня 2026 и № 220-ФЗ от 4 июля 2026 смягчают ответственность за несвоевременную подачу налоговых деклараций и расчётов. Отменяются штрафы за “нулевые” декларации и за непредставление 3-НДФЛ в случаях, когда сведения поступают из регистров; утрачивается сила статья 15.5 КоАП РФ для должностных лиц; вводится упрощенный порядок рассмотрения случаев с просрочкой без прочих нарушений.

Editorial impact label: High

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Jul 4, 2026

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Commission adopts revised sustainability reporting standards to reduce administrative burdens for EU businesses while maintaining high-quality disclosures

Adopted 3 July 2026, revised ESRS under CSRD substantially reduce mandatory datapoints (by ~60%) and introduce a voluntary reporting standard for smaller companies. Also introduces a value-chain cap, limiting what CSRD-subject companies can demand from smaller firms in their supply chains. Designed to reduce reporting costs without undermining policy goals.

Editorial impact label: Medium

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Effective

Jul 3, 2026

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Canada Groceries and Essentials Benefit replaces GST/HST credit, includes one-time top-up

Starting July 3, 2026 the GST/HST credit is replaced by the Canada Groceries and Essentials Benefit (CGEB), which will provide higher quarterly payments (25% increase for five years), together with a one-time top-up payment equal to 50% of the prior year’s GST/HST credit paid on June 5, 2026. These measures are designed to help low- and middle-income Canadians cope with rising costs of groceries and essentials.

Editorial impact label: Medium

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Effective

Jul 3, 2026

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One-time GST/HST Credit Top-up and Replacement by Canada Groceries and Essentials Benefit (CGEB)

Effective July 3, 2026, the GST/HST credit will be replaced by the Canada Groceries and Essentials Benefit, which increases payments by approx. 25% annually over five years. Prior to this, a one-time top-up payment was issued on June 5, 2026, equal to 50% of the GST/HST credit amount for the July 2025-June 2026 period for eligible individuals.

Editorial impact label: High

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Effective

Jul 3, 2026

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Canada Groceries and Essentials Benefit (CGEB) increases and one-time top-up

Effective July 3, 2026, the Canada Groceries and Essentials Benefit (formerly GST/HST Credit) will be increased by 25 % for a period of five years. In addition, eligible recipients who received the January 2026 GST/HST Credit payment received a one-time top-up on June 5, 2026 equal to 50 % of their annual benefit under GST/HST Credit for July 2025-June 2026. Eligibility is generally based on filing the relevant tax returns; payments are tax-free.

Editorial impact label: High

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Effective

Jul 3, 2026

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Canada Groceries and Essentials Benefit (CGEB) Payment Enhancements

On **July 3, 2026**, the Government started delivering the first **increased quarterly payments** under the Canada Groceries and Essentials Benefit, following a one-time top-up earlier in June. CGEB builds on the former GST Credit: eligible Canadians receive a **25% increase** over the previous credit for five years, plus the one-time top-up equal to 50% of the 2025-26 GST Credit. Region: Canada. Status: Effective from June–July 2026. Impact: Medium to High for low- and middle-income households.

Editorial impact label: Medium

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Jul 3, 2026

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Canada announces the Canada Groceries and Essentials Benefit replacing GST/HST Credit

Starting July 3, 2026, the Canada Groceries and Essentials Benefit will replace the GST/HST credit, offering **25% higher quarterly payments** over five years. Also, eligible Canadians received a **one-time top-up on June 5, 2026**, equal to 50% of their 2025-26 annual GST/HST credit amount, to aid affordability amidst rising costs.

Editorial impact label: High

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Jul 3, 2026

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Canada Groceries and Essentials Benefit – Replacement of GST/HST Credit

The Canada Groceries and Essentials Benefit (CGEB) replaces the GST/HST Credit starting July 3, 2026. It includes a one-time top-up payment issued June 5, 2026 (50% of annual GST/HST Credit amount), and benefit payments increased by 25% annually for five years.

Editorial impact label: Medium

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Effective

Jul 3, 2026

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