Nomadic Tax Institute
Publicly sourced cross-border tax developments. Dates, status and scope are shown separately so they can be read in context.
2639 updates
Status requires verification
CBDT has made available the offline utility for ITR-6 (filing company returns) for Assessment Year 2026-27; this eases filing for corporates preferring offline formats.
Editorial impact label: Medium
Status requires verification
Under Section 10(46) of the Income-tax Act, 2025, payments such as interest, dividends, professional fees, commissions, brokerage, and other financial service-related income received by eligible IFSC Units are exempt from TDS. This aims to improve the attractiveness of IFSC Units for financial and service-oriented business models.
Editorial impact label: Medium
Status requires verification
Comprehensive package including: 40% first-year allowance from 1 January 2026; main rate writing-down allowance reduced to 14% for Corporation Tax (from 1 April 2026) and for Income Tax; savings income rates raised by 2 percentage points from 6 April 2027; IHT thresholds and reliefs set; employer NIC thresholds held through 2028-31 etc. These changes reshape investment, estate and savings-tax strategy.
Editorial impact label: High
Proposed
The UK government has confirmed that it will implement a full reset of the Business Rates Retention System (BRRS) from 1 April 2026. This involves recalibrating baselines for local authorities’ business rates income, introducing permanent multipliers for retail, hospitality & leisure properties under £500,000 rateable value, and adjusting funding allocations accordingly, with Section 31 compensation to authorities where reliefs or new multipliers reduce income.
Editorial impact label: Medium
Status requires verification
年齢23歳未満の扶養親族がいる場合において、一般生命保険料控除の金額が所得税の計算上見直され、所定の措置が導入された。令和8年分の所得税から適用。
Editorial impact label: Low
Status requires verification
The Canada Revenue Agency set prescribed annual interest rates effective April 1 to June 30, 2026: 7 % on overdue taxes, Canada Pension Plan contributions, and employment insurance premiums; 3 % for corporate taxpayer overpayments; 5 % for non-corporate taxpayer overpayments; 3 % for taxable benefits from low/no interest loans; 6.20 % for corporate loans or indebtedness. These rates affect interest on late payments, refunds, instalments, and other compliance timing issues.
Editorial impact label: Low
Sri Lanka
Status requires verification
In Sri Lanka, Inland Revenue (Amendment) Act, No. 11 of 2026 permits instalment payers for any Assessment Year commencing **on or after 1 April 2026** to account for foreign tax credit in determining tax liability. Credit can be claimed only if foreign income tax is paid or reasonably estimated. This aids taxpayers with cross-border incomes and foreign tax payments.
Editorial impact label: High
Status requires verification
Legislation passed in May 2026 under Hong Kong’s Budget includes: one-off 100% reduction of final profits tax, salaries tax, and tax under personal assessment for Year of Assessment 2025/26 subject to HK$3,000 per case; increased basic, married person’s, single parent, child and dependent parent/grandparent allowances; raising deduction limits for elderly residential care expenses; and extending additional child allowance claim for newborns from one to two years.
Editorial impact label: Medium
Status requires verification
In India, the Central Board of Direct Taxes (CBDT), via Notification No. 97/2026 [F. No. 370142/11/2026-TPL], has notified the **Income-tax (Third Amendment) Rules, 2026**, which introduce a new ITR form **ITR-BN** and amend Rule 332 (via Appendix IV) governing returns related to search and requisition cases. These changes are effective from **1 April 2026** and include the availability of offline utility for ITR-6 and other ITR utilities for AY 2026-27. This will impact taxpayers under ITR-6 category (companies other than charitable etc.), as well as those involved in search/requisition proceedings.
Editorial impact label: Medium
Status requires verification
From **1 April 2026**, tax advisers paid to interact with HMRC on behalf of clients must register under new mandatory registration scheme, meeting minimum standards. This includes UK-based and overseas advisers. Registration through an Agent Services Account (ASA) is required. Phased rollout for different adviser groups between **18 May 2026 and 31 March 2027**.([gov.uk](https://www.gov.uk/government/publications/modernising-and-mandating-tax-adviser-registration-with-hmrc/requirement-for-tax-advisers-to-register-with-hmrc-and-meet-minimum-standards?utm_source=openai))
Editorial impact label: Medium
Status requires verification
From **FY 2027 / tax year 2027** (令和９年分以後), individuals whose base income exceeds **¥165 million** will have reduced special deduction amounts and face a higher tax rate of **30%** (up from 22.5%). This broadens the taxed population from an estimated ~200 to ~2,000 individuals, enhancing fairness in the tax burden. Other changes include raising minimum guaranteed deductions and adjusting brackets and thresholds for related deductions (e.g., salary income, standard deduction).
Editorial impact label: High
Proposed
Singapore’s government announced that all GST-registered businesses must submit invoice data via the InvoiceNow network. Roll-out is phased by turnover, beginning April 2028 through April 2031. Voluntary registrants from April 2026 must comply immediately.
Editorial impact label: High
Status requires verification
The Australian Taxation Office has released the **General Interest Charge (GIC)** rate at **10.96%** and the **Shortfall Interest Charge (SIC)** rate at **6.96%** for the quarter starting 1 April 2026. These rates apply to outstanding tax debts (GIC) and to underpaid tax liabilities/shortfalls (SIC), impacting taxpayers and businesses who are late in payments or have under-reporting issues.
Editorial impact label: Medium
Status requires verification
Legislation bringing into force new digital obligations under Making Tax Digital for Income Tax from **1 April 2026**. Affected unincorporated businesses and landlords must use functional compatible software to keep digital records, send quarterly updates of income & expenses, and file annual Self Assessment returns. Phased rollout by income thresholds: above £50,000 from April 2026, then £30,000 in April 2027, then £20,000 in April 2028. Exemptions apply for certain categories including those digitally excluded, ministers of religion, etc.([legislation.gov.uk](https://www.legislation.gov.uk/uksi/2026/336/pdfs/uksiem_20260336_en_001.pdf?utm_source=openai))
Editorial impact label: High
Status requires verification
The FY2026 Tax Reform (令和8年度税制改正) introduces major changes including inflation-indexed increases to basic deductions and employment income deductions; revised rates and thresholds for high income earners; expansions to corporate R&D and capital investment incentives; elimination and reforms of automobile environmental tax incentives; and increases in the international tourist tax. These measures aim to adjust tax burdens fairly in light of price rises and stimulate strong economic investment.
Editorial impact label: High
Status requires verification
Introduced Form ITR-BN and amended Rule 332 by inserting Appendix IV to cover returns relating to search and requisition cases under the Income-tax Rules, 2026. Applicable from 1 April 2026, it mandates certain taxpayers subject to search/requisition to use the new ITR-BN form, improving uniformity in disclosures and enabling better enforcement.
Editorial impact label: Medium
Status requires verification
Legislation will introduce a new VAT relief, taking effect 1 April 2026, that removes the requirement for businesses to account for VAT on eligible goods donated to registered charities, under defined per-item value limits and subject to recipient charities' status and use of the goods. Listed goods above higher thresholds benefit from higher limits. Aim is to increase business giving, reduce waste and support charities' service delivery. ([gov.uk](https://www.gov.uk/government/publications/removing-vat-on-donations-of-eligible-goods-from-businesses-to-charities/vat-relief-for-business-donations-on-goods-to-charities?utm_source=openai))
Editorial impact label: Medium
Proposed
HMRC has launched a consultation, announced 5 days ago, to introduce a newly **prescribed format for Corporation Tax computations**. It aims to standardise CT computation sections, improve clarity and ensure returns are machine-readable. The process involves a multi-stage rollout over April 2026 to September 2028: drafting, building software integrations, pilot testing, and eventually mandatory enforcement. Amendments to company tax returns must be filed online.
Editorial impact label: Medium
Status requires verification
Specifies that no tax shall be deducted under section 393(1) on aircraft lease or supplemental lease rent payments made by a lessee to a lessor being a unit located in an International Financial Services Centre, subject to the lessor furnishing a statement-cum-declaration (Form 1(N)). Effective from tax year beginning 1 April 2026.
Editorial impact label: High
Status requires verification
Hong Kong’s 2026-27 Budget enacted measures increasing basic allowance, married person’s, child & dependent parent/grandparent allowances, raising elderly residential care expenses deduction ceiling, extending additional child allowance for newborns to first two years; plus a one-off 100% reduction for profits tax, salaries tax & personal assessment in 2025/26, subject to a cap of HK$3,000 per case. Effective Year of Assessment 2026/27 (with the one-off applied by final assessment of 2025/26); passed May 2026. Expected to reduce tax burden significantly for families and elderly care claimants.
Editorial impact label: Medium