Policy updates

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Summer 2026 expanded features for Business Tax Account

The IRS has expanded its online Business Tax Account (BTA) service with new features: access to digital notices (e.g. CP081B, CP211A, CP134R), ability to download EIN verification notices (CP575), schedule payments up to one year ahead, view transcripts and manage an online payment “wallet”. These enhancements are applicable to eligible U.S. entities and territorial entities such as those with U.S. source income or operating through Puerto Rico and U.S. territories.

Editorial impact label: Medium

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Jul 1, 2026

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Required Online Traveller Declarations from 1 July 2026

With effect from 1 July 2026, all travellers entering or leaving South Africa via air, land, sea, or rail ports of entry must submit an online traveller declaration prior to travel. This is to modernize border processes, improve compliance and security, and to integrate with SARS tax and customs administration systems.

Editorial impact label: Medium

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Jul 1, 2026

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Payday Super begins 1 July 2026

From 1 July 2026 the Payday Super reforms take effect: employers must pay super guarantee (SG) contributions **on payday**, aligned with salary and wages, based on **qualifying earnings (QE)**. Payments must be received by the super fund within **7 business days** after payday (unless an extended period applies). Other changes include updating SuperStream standards, implementing a new Member Verification Request (MVR), requiring contributions to be allocated by the fund within 3 business days, and new reporting code “Q” in Single Touch Payroll. ([softwaredevelopers.ato.gov.au](https://softwaredevelopers.ato.gov.au/PaydaySuper?utm_source=openai))

Editorial impact label: High

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Jul 1, 2026

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Division 296 tax thresholds for large super balances from 1 July 2026

From the 2026-27 financial year starting 1 July 2026, superannuation members with a **Total Super Balance (TSB)** above **$3 million** will face a **15% tax** on earnings linked to the portion above that threshold (the Large Super Balance Threshold, LSBT). If balance exceeds **$10 million** (Very Large Super Balance Threshold, VLSBT), an **additional 10% tax** applies on earnings exceeding that higher threshold. It does **not** apply to the whole super balance, only the earnings above thresholds. Assessments will be issued in the latter half of financial year 2027-28. ([community.ato.gov.au](https://community.ato.gov.au/s/article/a07Mo00001w0qcO/what-division-296-tax-changes-means-for-your-super-balance?utm_source=openai))

Editorial impact label: Medium

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Jul 1, 2026

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Cents per Kilometre Deduction Rate increased to 91 cents per km for 2026-27

From 1 July 2026 the ATO increased the rate used under the cents per kilometre method for claiming work-related car expenses to **91 cents per kilometre**, reflecting a temporary one-off uplift of 2 cents above the base rate of 89 cents. This applies for the 2026-27 income year. ([softwaredevelopers.ato.gov.au](https://softwaredevelopers.ato.gov.au/CentsperKilometreDeductionRateforCarExpenses?utm_source=openai))

Editorial impact label: Low

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Jul 1, 2026

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2026-27 GDP adjustment factor set to 5% for GST and PAYG instalments

From 1 July 2026 the GDP adjustment factor used when calculating quarterly **GST** and **PAYG instalment** amounts increases to **5%**. Taxpayers with substituted accounting periods that commenced earlier in 2026 may continue using previous year's adjustment until their period moves into the new factor. ([softwaredevelopers.ato.gov.au](https://softwaredevelopers.ato.gov.au/GDPupliftfactor?utm_source=openai))

Editorial impact label: Medium

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Jul 1, 2026

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Payday Super reforms take effect 1 July 2026

Under the Treasury Laws Amendment (Payday Superannuation) Act 2025 and Superannuation Guarantee Charge Amendment Act 2025, from 1 July 2026 employers must pay super guarantee contributions on each payday rather than quarterly. Qualifying earnings are broadened and contributions must reach funds within 7 business days; new reporting requirements via STP and draft rulings such as LCR 2026/D3 detail calculation and assessment of SG shortfalls. Implications include updating payroll systems, closing of the Small Business Superannuation Clearing House, and risk of Super Guarantee Charge for late payments.

Editorial impact label: High

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Jul 1, 2026

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Sri Lanka

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Inland Revenue (Amendment) Act, No. 11 of 2026 (Sri Lanka): Changes to Resident Status for Investor Category Residence Visa Holders

Sri Lanka’s Amendment introduces a provision that individuals holding an **Investor Category Residence Visa** issued by the Controller of Immigration and Emigration shall **not be regarded as residents** for income tax purposes merely by that status. This limits the tax liability for foreign income for such visa-holders, reducing cross-border taxation risk. Enacted and effective as per Act No. 11 of 2026.

Editorial impact label: Medium

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Jul 1, 2026

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Division 296 tax changes for super balances over $3 million

From 1 July 2026, individuals whose Total Super Balance exceeds the large super balance threshold (LSBT) of $3 million will be subject to a 15% tax on super earnings above that threshold. If their balance exceeds the very large super balance threshold (VLSBT) of $10 million, an additional 10% tax applies to earnings above the VLSBT. Assessments will issue after relevant earnings are reported, usually in the latter half of the 2027-28 financial year. This measure was legislated via the Better Targeted Superannuation Concessions package.

Editorial impact label: Medium to High

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Jul 1, 2026

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Cents per kilometre deduction rate set at 91¢ for 2026-27

For the 2026-27 income year, the ATO has determined that the cents-per-kilometre rate for work-related car travel deductions will be **91 cents** per kilometre (up from base 89¢), due to a temporary one-off uplift. This applies to eligible taxpayers opting for the simplified cents-per-kilometre method.

Editorial impact label: Low to Medium

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Jul 1, 2026

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Bangladesh

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Bangladesh Budget 2026-27: Increased tax-free threshold & flat minimum tax for individuals

In the Bangladesh Finance Ordinance/Budget Speech, the tax-free income threshold for individual taxpayers is increased from BDT 350,000 to BDT 375,000 for Assessment Years 2026-27 and 2027-28; also a flat minimum tax of BDT 5,000 will apply to individuals whose income exceeds the tax-free limit, regardless of location. Enacted effective from AY 2026-27.

Editorial impact label: Medium

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Jul 1, 2026

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Law No. 201-ФЗ: Removing Penalties for ‘Zero’ Tax Declarations

Federal Law No. 201-ФЗ (26 June 2026) amends Part One of Russia’s Tax Code to **eliminate fines** under Article 119 for taxpayers who submit ‘zero’ tax returns (including insurance contributions) when no tax or liability is due. It also removes penalties for failure to file 3-НДФЛ declarations in cases where property sale or gift transactions are reported via Rosreestr. Some new simplified liability rules begin **26 June 2026**, with effectiveness for penalty relief from **1 July 2026**. This change reduces compliance risk for minimal or procedural non-reports.

Editorial impact label: Medium

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Jul 1, 2026

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Guidance on temporary flat fee on low-value imports which will apply until 1 July 2028

From 1 July 2026 the EU abolished the customs duty exemption on distance-sales low-value imports (goods ≤ €150) from non-EU countries, replacing it with a **temporary €3 per item customs duty**, applicable until 1 July 2028; Product Identifiers become mandatory from 1 November 2026. These measures are part of the broader EU Customs Reform to improve fairness, safety, and compliance in e-commerce.

Editorial impact label: Medium

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Jul 1, 2026

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Extension of Cancellation of Fines and Exemption of Financial Penalties Initiative

ZATCA and the Saudi Minister of Finance have extended the initiative to cancel fines and exempt financial penalties for taxpayers under all tax systems for a further six months from **1 July 2026** to **31 December 2026**. To qualify, taxpayers must be registered for the relevant tax systems, submit all outstanding returns, and pay the principal tax owing. Excluded are penalties for tax evasion, Article 45 VAT Law penalties, penalties already paid, and penalties associated with returns becoming due after 30 June 2026.

Editorial impact label: Medium

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Jul 1, 2026

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Yurt dışından elde edilen kazanç ve iratlar için vergi istisnası (Foreign earnings tax exemption)

Law No. 7582 amended the Tax Law in Turkey to exempt from income tax the gains and revenues obtained outside Turkey by real persons who had no tax residency or domicile in Turkey in the last three calendar years. Eligible individuals can benefit for up to 20 years, provided they obtain the exemption certificate (İstisna Belgesi). The exemption applies as of when they become Turkish residents (for those resident from 1 Jan 2026).

Editorial impact label: High

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Jul 1, 2026

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Removal of penalties for failure to file ‘zero’ declarations and simplification in certain 3-NDFL filings

As of 1 July 2026, penalties under Article 119 of the Russian Tax Code are abolished for taxpayers failing to submit ‘zero’ tax declarations (declaring no tax payable). Also, individuals selling or gifting property with transactions registered in Rosreestr no longer face fines for missing 3-NDFL filings—authorities will instead conduct a no-declaration (automatic) review.

Editorial impact label: High

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Jul 1, 2026

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Notice 7645 prescribing the date from which the method of calculating interest under section 7 of the Global Minimum Tax Act will apply

SARS issued Notice 7645 on 30 June 2026, under section 187(2) of the Tax Administration Act, prescribing that from **1 July 2026** the method of calculating interest imposed under section 7 of the Global Minimum Tax Act, 2024 (read with Chapter 12 of the Tax Administration Act) will apply. This affects MNEs subject to GMT, in terms of determining when interest accrues on underpaid GMT obligations.

Editorial impact label: High

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Jul 1, 2026

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Division 296 tax changes to super balances

From 1 July 2026, if your total super balance (TSB) exceeds the large super balance threshold (LSBT) of $3 million, an additional tax of 15% applies on the portion of super earnings above that threshold. If your TSB exceeds the very large super balance threshold (VLSBT) of $10 million, an extra 10% tax applies on earnings above the VLSBT. Assessments for the 2026-27 year will be issued in the latter half of 2027-28. For SMSFs and APRA funds, reporting obligations have been updated accordingly.([community.ato.gov.au](https://community.ato.gov.au/s/article/a07Mo00001w0qcO/what-division-296-tax-changes-means-for-your-super-balance?utm_source=openai))

Editorial impact label: Medium

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Jul 1, 2026

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Payday Super reforms: super guarantee paid each payday and SBSCH closure

From 1 July 2026, employers must pay super guarantee (SG) contributions **on payday**, based on a new term “qualifying earnings” including ordinary time earnings and certain contractor payments. Super funds must **receive contributions within 7 business days** after payday. The Small Business Superannuation Clearing House (SBSCH) will be closed permanently from that date. Single Touch Payroll reporting will require new fields. The super guarantee charge regime is updated.([softwaredevelopers.ato.gov.au](https://softwaredevelopers.ato.gov.au/PaydaySuper?utm_source=openai))

Editorial impact label: High

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Jul 1, 2026

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Commission adopts amendments to the Union Customs Code Implementing Act to streamline the application of non-preferential rules of origin

As of 1 July 2026, Commission Implementing Regulation 2026/1422 amends the Union Customs Code Implementing Act (UCC-IA) to require proof of direct transport or non-alteration for certain goods (notably from the United States) in non-preferential origin claims, and allows electronic certificates of origin for products subject to special non-preferential rules, aligning with the ELAN system.

Editorial impact label: Medium

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Jul 1, 2026

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