Policy updates

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EU Customs Reform: Temporary €3 Customs Duty on Low-Value Imports (DSIG) up to €150 from 1 July 2026

As part of the EU Customs Reform, from 1 July 2026, the de minimis customs duty exemption for distance sales of imported goods (DSIG) under €150 is abolished. A temporary flat €3 customs duty per item applies until 1 July 2028. Product Identifiers (PIDs) will become mandatory from 1 November 2026. The reforms are intended to level the playing field for EU importers, enhance product safety compliance, and increase customs revenue, particularly from e-commerce. Impact: high.

Editorial impact label: High

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Jul 1, 2026

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International Tourist Tax Rate Increase (国際観光旅客税の税率引上げ)

Effective July 1, 2026, Japan raised the international tourist tax (departure tax) from ¥1,000 to ¥3,000 per person per exit. Certain contracts signed before July 1, 2026 under specific conditions will allow the lower rate to continue under transition rules. All traveler exits on or after the effective date will generally be subject to the new rate.

Editorial impact label: Medium

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Jul 1, 2026

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Automatic Exemption from Penalty (AEP) Replacing First Time Abate

The IRS's new AEP program automatically provides relief from failure-to-file, failure-to-pay, and (for businesses) failure-to-deposit penalties for taxpayers with a timely compliance history (three years filing/payment history or 12 consecutive quarters for quarterly filers). AEP applies to original returns with due dates on or after January 1, 2025, and 2026 quarterly returns. It phases out First Time Abate, with full replacement for eligible returns due on or after January 1, 2027.

Editorial impact label: Medium-High

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Jul 1, 2026

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Temporary Flat €3 Customs Duty on Low-Value Imports (≤ €150), Removal of De-Minimis until July 2028

Effective 1 July 2026, the EU abolished the customs duty exemption for low-value consignments (≤ €150) from outside the EU, introducing a flat €3 duty per item until 1 July 2028. From 1 November 2026, Product Identifiers (PIDs) will be mandatory. This is part of customs reform to level the playing field, improve compliance, and traceability of goods.

Editorial impact label: High

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Jul 1, 2026

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Payday Super reforms commence from 1 July 2026

Under the Payday Super reforms, employers must pay super guarantee contributions at each pay period (weekly, fortnightly, or monthly) rather than quarterly. Contributions are calculated on a broader definition of earnings (“Qualifying Earnings”, including commissions, salary sacrifice, etc.), and super funds must receive contributions within seven business days after payday. The Small Business Superannuation Clearing House (SBSCH) was closed from that date, impacting how small employers manage payments.

Editorial impact label: High

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Jul 1, 2026

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

From 1 July 2026 the ATO has increased the GDP adjustment factor to **5%**, which will apply for the 2026-27 income year in calculating quarterly GST and PAYG instalment amounts. Taxpayers with substituted accounting periods starting before 1 April 2026 continue using the prior 4% rate; those starting from 1 April 2026 will use 5%.

Editorial impact label: Medium

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Jul 1, 2026

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国家税务总局公告2026年第12号｜个人所得税有关征管事项

Introduces two IIT compliance measures: reduced prepayments for scrap goods sales under reverse-invoice thresholds and IIT refunds for sale and repurchase of housing in same city within one year.

Editorial impact label: Medium

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Jul 1, 2026

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Income Tax Assessment (Cents per Kilometre Deduction Rate for Car Expenses) Determination 2026

From 1 July 2026, the ATO has set the cents-per-kilometre deduction rate for work-related car expenses to **91 cents per kilometre**, effective for the 2026-27 income year. This includes a temporary one-off uplift of 2 cents over the base rate of 89 cents. For eligible taxpayers using the cents per kilometre method, this determines how car travel deductions are calculated.

Editorial impact label: Medium

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Jul 1, 2026

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Extension of Cancellation of Fines & Exemption of Financial Penalties Initiative

ZATCA’s initiative has been extended for six months starting 1 July 2026 through 31 December 2026, offering relief from fines and penalties for late registration, late filing or payment and correction of VAT returns, provided origin tax obligations are met. Exclusions apply for tax evasion cases, VAT field control violations, and returns due after 30 June 2026. Applicants may request instalment plans during the initiative period.

Editorial impact label: High

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Jul 1, 2026

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Pakistan

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Finance (Budget) 2026-27: Withholding Tax on Social Media Platform Income and Revised Minimum Tax in Pakistan

Pakistan’s Finance Act 2026-27 introduces a specific withholding tax on income earned from digital content platforms (YouTube, Facebook etc.), to be deducted by financial institutions; increases minimum tax rate for distributors, wholesalers, dealers and sub-dealers from 0.25% to 0.5% subject to ATL compliance. Also clarifies turnover thresholds and rules for inheritance property cost determination.

Editorial impact label: High

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Jul 1, 2026

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Payday Super reforms

From 1 July 2026 employers must pay superannuation guarantee contributions on each payday rather than quarterly, based on qualifying earnings. Contributions must be received by super funds within 7 business days after payday. Employers must update STP reporting, and alternative payment methods to SBSCH should be in use before this date.

Editorial impact label: High

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Jul 1, 2026

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Closure of Small Business Superannuation Clearing House (SBSCH)

As part of the Payday Super reforms, the SBSCH service is closed permanently from 1 July 2026. Employers must find alternative SuperStream-compliant payment methods, download historical transaction and employee details before closure.

Editorial impact label: Medium

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Jul 1, 2026

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Payday Super — calculation and assessment of the superannuation guarantee charge draft Law Companion Ruling LCR 2026/D3

This draft ruling provides guidance under the Payday Super reforms (from 1 July 2026) on how employers must calculate qualifying earnings (QE), assess shortfalls and apply the Superannuation Guarantee Charge where contributions are late or missed, including examples; under the transitional rules employers must have systems in place by that date and follow extended rules for QE days until 30 June 2028.

Editorial impact label: High

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Jul 1, 2026

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Extension of Saudi Arabia’s Cancellation of Fines & Exemption from Financial Penalties Initiative

Starting 1 July 2026, this policy extends for six months (through 31 December 2026) the initiative allowing taxpayers under all Saudi tax laws to have late registration, late payment, late filing, VAT return correction and other financial penalties waived, subject to conditions. Excludes penalties relating to evasion, VAT Article 45, returns due after 30 June 2026, or fines prepaid. Creates window for tax-planning and compliance cleanup.

Editorial impact label: Medium

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Jul 1, 2026

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Automatic Exemption from Penalty Replaces First Time Abate

The IRS introduced a program called Automatic Exemption from Penalty (AEP) beginning summer 2026. Taxpayers who have a history of timely filing and paying taxes over the prior 3 years (or 12 quarters for quarterly filers) may receive relief from certain penalties automatically. This replaces the First Time Abate program, reducing the need to request relief for failures to file, pay, or deposit. AEP applies to original returns starting with tax year 2025 and 2026 quarterly returns and beyond.

Editorial impact label: Medium

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Jul 1, 2026

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IRS Automatic Exemption from Penalty (AEP) program

The IRS introduced the Automatic Exemption from Penalty (AEP) program in July 2026, replacing the First Time Abate program. Under AEP, eligible taxpayers with a history of timely filing and payment (three prior years or 12 prior consecutive quarters for quarterly filers) will receive automatic relief from certain penalties (failure to file, pay, or deposit) for original returns beginning with tax year 2025, 2026 quarterly returns, and future periods; taxpayers do not need to apply. Not all forms are eligible, such as those filed only for specific transactions or infrequent events. The IRS will phase out First Time Abate fully for returns with due dates on or after January 1, 2027.

Editorial impact label: Medium

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Jul 1, 2026

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Pakistan

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Salient Features of Pakistan Budget 2026-27: Reduction in Tax Rates and Real Estate Advance Tax Simplification

Pakistan’s Budget 2026-27 introduced major tax reforms: lowering income tax slabs for salaried individuals, abolishing Section 7E (deemed income from property), rationalizing super tax, reducing advance tax on sale/purchase of immovable property under Sections 236C and 236K, reducing exporter withholding tax, and extending concessional tax rate for IT exports to 2029. These changes aim to simplify property transactions, encourage exports, and provide relief to middle and upper middle income individuals.

Editorial impact label: High

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Jul 1, 2026

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Small Business Superannuation Clearing House to close permanently from 1 July 2026

The Small Business Superannuation Clearing House (SBSCH) will be permanently closed from 1 July 2026 as part of the Payday Super reforms. Existing users must choose alternate payment methods, download records, and ensure SuperStream compliance.

Editorial impact label: Medium

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Jul 1, 2026

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New rule: €3 flat customs duty on low-value imports up to €150, with mandatory product identifiers by November 2026

Under Council Regulation (EU) 2026/382, the EU introduced a temporary €3 customs duty per item (goods ≤ €150) from 1 July 2026 until 1 July 2028, abolishing previous de minimis exemption. Also, from 1 November 2026 product identifiers (PIDs) will be mandatory. Applies to distance sales from non-EU suppliers. Intended to enhance fairness, safety and compliance in e-commerce imports.

Editorial impact label: Medium

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Jul 1, 2026

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Payday Superannuation—Employers Must Pay Super at Same Time as Salary from 1 July 2026

From 1 July 2026, employers are legally required to pay superannuation contributions on payday, i.e. at the same time as salary or wages. The Small Business Superannuation Clearing House closed on 1 July 2026. Super payments timing, allocation rules for July legal obligations updated, with final quarter payments due by 28 July 2026 and late payment deadlines for super guarantee charge by 28 August.

Editorial impact label: High

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Jul 1, 2026

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