Tax

China Issues Invoice Compliance Positive Negative Lists

China's State Administration of Taxation (STA) published positive and negative lists for compliant invoice issuance, containing 44 items across four areas: 16 positive provisions and 28 negative provisions. The lists address invoice subject compliance, genuine transactions, accurate content, and reasonable timing. The negative list specifically prohibits registering shell companies, batch registration without actual business activities, round-trip/loop invoicing, and fictitious transaction chains. The STA will use tax big data to monitor invoice issuance dynamically and enforce penalties for listed violations, while also improving digital invoice services and policy guidance.

Tax Authorities Rectify Illegal Invoicing to Build National Unified Market

China's State Taxation Administration reports enforcement outcomes from its nationwide crackdown on "invoicing economy" — shell companies and circular invoicing schemes used to inflate business scale for financing. Six targeted industries (waste resource recovery, recycling, mineral/chemical wholesale, management services, IT consulting, and road freight) saw invoicing decline 4.4% year-on-year in Q1 2026, with coal/metal wholesale down 7.1% and 5.7% respectively. Case studies from Gansu (disciplinary action against SOE executives for non-core circular invoicing) and Sichuan (reduced invoice credit limits and daily monitoring for warehouse-receipt trading) illustrate enforcement approaches.

Virginia Income Tax Filing Deadline, May 1

Virginia Tax is reminding individual taxpayers that the filing and payment deadline for Virginia state income taxes is Friday, May 1, 2026. Taxpayers who file electronically can expect processing within approximately four weeks, while paper returns may take up to ten weeks or longer. No penalties or interest will apply provided filers submit their return and full payment by the May 1 deadline.

Moscow Tax Authority Collegium Reviews IT Development and Taxpayer Services

The Moscow Collegium of the Russian Federal Tax Service met on April 23, 2026 to review IT development initiatives and taxpayer service quality. Officials reported that Moscow tax authorities served 2.4 million people and processed 1.1 million calls in 2025. Electronic filing reached over 8.5 million declarations, with 3-NDFL filings at 1.1 million and electronic declaration share exceeding 98%. Personal account users grew by 400,000 to reach 6.3 million as of January 1, 2026. The meeting addressed import substitution for the AIS Nalog-3 automated system and expansion of electronic services.

Over 28,000 Entrepreneurs Use Russian Online Business Startup Service

The Russian Federal Tax Service (FNS Russia) announced that its 'Start Business Online' service has been used by over 28,000 entrepreneurs and companies in two years of operation. The service enables registration of legal entities or individual entrepreneurs, issuance of electronic signatures, opening of bank accounts, registration of cash registers, and connection to electronic document management. Registration is available through the FTS website directly or through partner bank applications, with nine banks currently partnered.

FTS Moscow Runs Financial Literacy Game for Children

The Russian Federal Tax Service (IFNS No. 23 Moscow) organized a financial literacy business game called 'Manage Your Finances Wisely' for teenagers at the Nikulin Circus Arts School in Moscow. The event, held on April 24, 2026, included competitions on economics, financial knowledge, and tax concepts. Tax inspectors taught the children about managing income and expenses, making sound financial decisions, and explained individual income tax (NDFL) and tax deductions for treatment, education, or housing.

2.8 Million Norwegians File Tax, April 30 Deadline

Skatteetaten reports that 2.8 million Norwegian employees and pensioners have filed their tax returns as of April 24, 2026, with 4.2 million having logged in to check their tax statements. Approximately 1.6 million taxpayers have already received their tax settlement. The total amount refunded so far is 18.1 billion NOK. The filing deadline is April 30, 2026, for employees and pensioners, and June 1, 2026, for self-employed individuals.

IRAP 2026 Technical Specifications Approved by Agenzia Entrate for Regions

The Italian Revenue Agency (Agenzia Entrate) issued Provvedimento on April 23, 2026, approving the technical specifications for transmitting IRAP (Regional Tax on Productive Activities) 2026 declaration data to Italian regions and the autonomous provinces of Trento and Bolzano. The document includes the main provvedimento and Allegato A containing the detailed technical specifications for electronic data transmission.

Michigan Physician Robert Glapinski Sentenced to 15 Years Federal Prison

Robert Glapinski, 62, of Capac, Michigan, a family medicine physician, was sentenced to 15 years in federal prison after pleading guilty to distributing thousands of images of child pornography. An investigation initiated from a National Center for Missing and Exploited Children cybertip traced a Google Chat account to Glapinski, who treated both adults and children. Federal agents and Michigan State Police executed a search warrant at his residence on April 8, 2025, discovering over 2,500 images and more than 150 videos of child sexually abusive material.

Nick Cruz-Lopez, 20, Arrested for Threatening to Kill the President of the United States

Nick Guadalupe Cruz-Lopez (20, Plant City, FL) has been arrested and charged by criminal complaint with making a threat to kill the President of the United States. According to the complaint, on April 2, 2026, Cruz-Lopez posted a photo on his Instagram account displaying the statement 'MAGA Otw to kill trump' alongside an image of himself in a vehicle holding an AR-15 style rifle. If convicted, Cruz-Lopez faces a maximum penalty of five years in Federal prison. The case was investigated by the United States Secret Service and will be prosecuted by Assistant United States Attorney Ross Roberts.

Pittsburgh Card Skimming Outreach Nets 9 Devices, Saves $9.4M

The U.S. Secret Service and multiple Federal, state, and local law enforcement partners conducted a two-day outreach operation on April 20-21 in the Pittsburgh area targeting illegal payment card skimming and Electronic Benefit Transfer fraud. Investigators examined 883 point-of-sale terminals, 775 gasoline pumps, and 170 ATM terminals across 272 locations, identifying nine illegal skimming devices and preventing an estimated $9.4 million in consumer losses. The operation also distributed educational materials to businesses to help them detect skimming devices.

Animashaun Adebo Pleads Guilty to Wire Fraud Conspiracy in $50M BEC Schemes

Animashaun Adebo, a Nigerian national also known as "Kazeem" and "Kazeem Animashaun," pleaded guilty in federal court in Brooklyn on April 20, 2026, to wire fraud conspiracy for orchestrating Business Email Compromise (BEC) schemes and romance fraud that caused more than $50 million in losses to victims in the Eastern District of New York and throughout the United States. The defendant and co-conspirators spoofed legitimate business email accounts to redirect wire transfers in real estate transactions and vendor payment schemes, then laundered proceeds through shell company accounts in the United States and Nigeria, including purchases of luxury watches and an illegal money exchange operation. Adebo is scheduled for sentencing at a future date.

Federal Jury Convicts Suburban Chicago Man of Threatening To Kill President Trump and Public Officials

A federal jury in Chicago convicted TRENT SCHNEIDER, 58, of Winthrop Harbor, Illinois of making a true threat in interstate commerce to injure a person, specifically threatening to kill President Donald J. Trump, other federal officials, and state judges. On October 21, 2025, Schneider posted a video on Instagram threatening to acquire guns and harm public officials, and separately threatened to burn down a Lake County courthouse. The conviction carries a maximum sentence of five years in federal prison.

PIT Filing Reminder: April 30 Deadline via Twój e-PIT Service

The Polish National Revenue Administration (KAS) has published a reminder on its official tax portal (podatki.gov.pl) that personal income tax (PIT) returns must be filed by April 30. The notice directs taxpayers to the Twój e-PIT electronic service as the recommended filing method. This is an informational reminder and does not create new tax obligations.

Maintenance Window Scheduled for Polish e-PIT Service, April 21, 2026

The Polish Tax Service (Krajowa Administracja Skarbowa, KAS) has posted a maintenance window notice for the Twój e-PIT (Your e-PIT) online tax service. The scheduled maintenance is planned for April 21, 2026. The page provides navigation access to personal income tax (PIT) information, corporate tax (CIT), VAT, customs duties, and related taxpayer resources. No new compliance obligations, deadlines, or penalties are established by this notice.

Over 1 Million Users Access Polish e-Tax Mobile App e-Urząd Skarbowy

The Polish National Revenue Administration (KAS) announced that more than 1 million users have begun using the e-Urząd Skarbowy (e-US) mobile application, a government digital tax service platform. The e-US app provides taxpayers with tools to manage personal income tax (PIT), corporate tax, VAT, customs duties, and other tax obligations through a mobile interface. This milestone reflects the government's ongoing push toward digitising tax administration services in Poland.

SARS Aids Employers Submit Third-Party Tax Data by 31 May 2026

SARS has announced the 2026 third-party data submission period, running from 1 April to 31 May 2026, for the 2025-26 tax year (1 March 2025 to 28 February 2026). Employers, financial institutions, medical aid schemes, trusts, and other mandated third-party data providers must submit remuneration and financial data for approximately 6 million individual taxpayers. Non-submission or inaccurate submissions exclude taxpayers from SARS Auto Assessment, which pre-populates and auto-assesses personal tax returns. During the 2025 season, incomplete data generated over 27,000 retirement contribution verifications, over 81,000 employer IRP5 verifications, and over 16,000 medical data verifications. Affected parties should submit early using approved channels including eFiling, ConnectDirect, Secured File Gateway, or e@syFile to avoid deadline pressures.

Receita Federal em Foz do Iguaçu Retém Mercadorias Irregulares em Ônibus de Turismo Avaliadas em Mais de R$ 1 Milhão

A Receita Federal realizou a retenção de um ônibus de "turismo" na BR-277, em São Miguel do Iguaçu/PR, transportando mercadorias em situação irregular com destino a São Pedro da Aldeia/RJ. A operação resultou na apreensão de celulares, aparelhos eletrônicos, perfumes, vinhos e medicamentos avaliados em aproximadamente R$ 1 milhão. Não houve prisões, mas haverá o encaminhamento de representações fiscais contra os responsáveis pelo transporte irregular de mercadorias importadas sem documentação.

Brazil Extends Oral Arguments to First Instance Tax Administrative Proceedings from May 2026

Brazil's Receita Federal will extend the right to present oral arguments (sustentação oral) to first-instance administrative tax proceedings at the Delegacias de Julgamento (DRJ) beginning May 2026. Taxpayers or their representatives may submit video or audio recordings directly through the e-CAC Portal under the 'Participar de Reunião de Julgamento' function, without requiring a legal representative. Hearing agendas will also be published in the Diário Oficial da União (DOU) to enhance transparency and predictability for taxpayers.

Receita Federal Comenta Arrecadação Federal de Março em Coletiva de Imprensa

A Receita Federal realizará coletiva de imprensa em 28 de abril de 2026 às 11h para comentar os dados da arrecadação federal de março de 2026. O evento será conduzido pelo chefe do Centro de Estudos Tributários e Aduaneiros, Claudemir Malaquias, e pelo coordenador de Previsão e Análise da Receita, Marcelo Gomide, na sala 742 do edifício sede do Ministério da Fazenda. A transmissão ao vivo ocorrerá pelo canal do Ministério da Fazenda no YouTube, com material disponível na página de dados da arrecadação após o evento.

Receita Federal doa sete árvores oliveiras apreendidas à Universidade Tecnológica Federal do Paraná

A Receita Federal em Cascavel/PR doou sete árvores de oliveiras apreendidas à Universidade Tecnológica Federal do Paraná (UTFPR), campus de Dois Vizinhos. As árvores haviam sido interceptadas na fronteira com a Argentina por entrarem irregularmente no país sem cumprir as exigências fitossanitárias do Ministério da Agricultura e Pecuária. Após tratamento fitossanitário rigoroso recomendado pelo Mapa, as oliveiras foram integradas ao campus como símbolo de educação e sustentabilidade.

Brazil: 15 Million IRPF 2026 Declarations Received, Deadline May 29

Receita Federal reports that as of April 23, 2026 at 3 PM, 15,031,247 income tax declarations (IRPF 2026, calendar year 2025) have been received. The filing deadline is May 29, with an expected total of 44 million declarations. The agency also warns taxpayers about fraud schemes, clarifying that it does not send emails or SMS with links and that all services are free.

Receita Federal Participates in Operation OncoJuris Against High-Cost Medication Fraud

Receita Federal do Brasil participated on April 23, 2026 in Operation OncoJuris, a joint operation with the Civil Police, Public Ministry, and Public Defender's Office of Mato Grosso do Sul to dismantle a suspected criminal organization engaged in procedural fraud to obtain judicial orders for high-cost medications. Investigations found that third-party companies without financial capacity or inventory offered medications below the Maximum Government Sale Price (PMVG), with dismissed state health servants allegedly steering budgets to these companies, diverting over 70% of funds as service fees. Medications potentially imported irregularly without ANVISA registration or lot numbers were delivered to vulnerable cancer patients, placing their health at risk.

Receita Federal Alerta Sobre Sites Falsos que Simulam Leilão de Mercadorias Apreendidas

A Receita Federal emitiu alerta informando sobre a existência de sites falsos que simulam o leilão eletrônico de mercadorias apreendidas, utilizando indevidamente o logotipo do órgão para enganar participantes. O órgão esclarece que a única forma legítima de acessar o Sistema de Leilão Eletrônico é por meio do e-CAC (Centro Virtual de Atendimento). Além disso, reforça que o pagamento dos lotes arrematados ocorre exclusivamente mediante DARF, nunca por PIX, transferência bancária ou qualquer outro meio.

IRS Seeks Advisory Council Nominations, Deadline June 5

The IRS has issued a Federal Register notice formally requesting nominations and applications for the Internal Revenue Service Advisory Council (IRSAC). The IRSAC serves as a formal advisory body to IRS leadership and operates under the Federal Advisory Committee Act (5 U.S.C. 1001-1014). Applications must be received by June 5, 2026, with appointments beginning in January 2027 for three-year rotating terms.

Local Reference Rents by BRMA and Property Size March 2026

HMRC published the March 2026 Local Reference Rents dataset listing rental levels by Broad Rental Market Area and property size for residential property in England. The data, contained in a 15 KB OpenDocument format file, covers rental market areas across England organised by number of rooms. This publication supersedes prior releases available through the National Archives.

HMRC App Privacy Notice, Data Usage Guide

HMRC published a privacy notice on 23 April 2026 explaining how HM Revenue & Customs and other organisations may use personal data when individuals use the HMRC App. The notice applies whether users access services via the iOS or Android mobile application or through the HMRC website in a web browser. Users are advised to read the main HMRC privacy notice alongside this app-specific guidance.

PMKS Digitalization Carnival and e-Invoicing, April 20

The Malaysian Inland Revenue Board (Lembaga Hasil Dalam Negeri Malaysia, HASiL) held a Digitalization Carnival for Micro, Small and Medium Enterprises (PMKS) on April 20, 2026, focusing on e-Invoicing, productivity, innovation, and market expansion. HASiL also announced that the Stamp Duty Audit Framework is now available for download from the official HASiL portal.

Belt and Road Tax Institute Inter-Institutional Exchange Held in Hengqin

The Belt and Road Tax Institute Exchange was held in Guangdong Hengqin Guangdong-Macao Deep Cooperation Zone on April 14–15, 2026, convening representatives from six Belt and Road Tax Institutes (Algeria Algiers, Kazakhstan Astana, China Beijing, China Macau, Saudi Arabia Riyadh, China Yangzhou), international organizations including the IMF and CIAT, and tax experts. Vice Commissioner Wang Daoshu delivered remarks as Secretary-General of the Cooperation Mechanism Secretariat and reported on alliance activities. A new alliance chair was elected: He Yanmei, Director of the Macau Financial Affairs Bureau, succeeding Rong Guangliang. The alliance has operated since 2019, conducting over 160 training sessions across more than 120 countries and territories, training over 7,000 fiscal officials in six languages. The 7th Belt and Road Tax Collection and Management Cooperation Forum is scheduled for October 13–15, 2026 in Jakarta, Indonesia.

Eight Departments Hold Regularized Tax Crime Crackdown Beijing

Eight Chinese government departments—the State Taxation Administration, Ministry of Public Security, Supreme People's Court, Supreme People's Procuratorate, People's Bank of China, General Administration of Customs, State Administration for Market Regulation, and State Administration of Foreign Exchange—convened in Beijing on April 16, 2026, to advance the regularized joint crackdown on tax-related crimes. Meeting outcomes reported over the prior two years include investigation of more than 130,000 companies suspected of fraudulent invoicing, recognition of 7.38 million export invoices as falsified, examination of 4,850 companies for export tax rebate fraud, and recovery of 246 billion yuan in export tax rebate losses. The eight departments pledged to intensify data sharing, cross-agency coordination, and enforcement against invoicing fraud, export tax evasion, and improper tax incentive schemes.

China, Russia Sign Tax Cooperation Memo on Digital Transformation, BRICS and Belt and Road

China's State Taxation Administration (STA) head Hu Jinglin met in Beijing on April 21, 2026, with Russian Federal Tax Service head Daniel Egorov. The two administrators signed a cooperation memorandum covering three areas: digital transformation of tax administration and enforcement, BRICS tax cooperation, and the Belt and Road tax administration cooperation mechanism. The meeting reflects continued bilateral engagement on international tax governance frameworks.

Vaping Duty Stamps – Penalties and Sanctions Factsheet Published

HMRC has published a new factsheet (CC/FS87) explaining the penalties and sanctions that may be applied if businesses fail to comply with the Vaping Products Duty regulations and the Vaping Duty Stamps Scheme. The factsheet confirms it reflects HMRC's position at the time of writing and is for guidance only.

AG Yost Warns of Text Scam Targeting Ohioans with Fake Fines

Ohio Attorney General Dave Yost and the Ohio Department of Taxation warned Ohioans on March 4, 2026, about a text message scam claiming recipients owe unpaid parking or toll fines. The fraudulent messages include fake court documents and QR codes directing victims to websites to pay supposed fines. The agencies emphasized that the Ohio Department of Taxation will never contact taxpayers by text or social media, threaten lawsuits or arrests, or ask for payment via gift cards or cryptocurrency.

Ohio Governor DeWine Proclaims April Fraud Prevention Month

Ohio Governor Mike DeWine issued a proclamation recognizing April 2026 as Fraud Prevention Month in Ohio, emphasizing that prevention, education, strong consumer protections, and public awareness are critical in helping consumers recognize common scams and stay informed of emerging fraud trends. The Ohio Department of Taxation is directing Ohioans to its new Fraud Awareness page, which provides guidance on common fraud schemes including identity theft, tax preparer fraud, social media scams, phishing, QR code scams, and business-related fraud, along with steps victims should take when contacting the Ohio Department of Taxation, IRS, FTC, Social Security Administration, Ohio Attorney General's Consumer Protection Section, and major credit bureaus.

March Revenue Collections $4.355B, Up $164M vs 2025

Massachusetts Department of Revenue reported preliminary March 2026 revenue collections of $4.355 billion, representing a $164 million (3.9%) increase over March 2025 actual collections and $64 million (1.5%) above benchmark. FY2026 year-to-date collections totaled approximately $30.660 billion, up $980 million (3.3%) year-over-year and $653 million (2.2%) above the year-to-date benchmark. Income tax collections of $2.242 billion led gains, while corporate and business tax declined by $47 million (3.7%) relative to March 2025.

Massachusetts Tax Revenue Report, Mid-Month, April 2026

The Massachusetts Department of Revenue submitted its mid-month tax revenue report for April 2026, the tenth month of fiscal year 2026. Total tax collections reached $3.873 billion, representing a 7.1% increase of $256 million compared to the same period in April 2025. Income tax collections of $3.306 billion drove most of the growth, up $301 million or 10.0% year-over-year, while sales and use tax and corporate business tax both declined.

Surety Bond Cancellation Period Extended 30 to 60 Days

Governor Kay Ivey signed Act 2026-528 on April 15, 2026, amending Sections 40-17-168.5 and 40-17-335, Code of Ala. 1975, to extend the surety bond cancellation notice period from 30 days to 60 days effective immediately. The change applies to all Compressed Natural Gas/Liquefied Natural Gas Surety Bonds and Motor Fuels Surety Bonds on file with the Business and License Tax Division. Affected parties must submit updated bond riders or new bond forms reflecting the 60-day cancellation period by June 1, 2026, or risk license revocation.

Moscow FTS Organizes Tax Seminar for 9th Graders Ahead of ОГЭ

The Inspectorate of the Federal Tax Service for Moscow (IFNS No. 24) conducted a tax education seminar at School No. 1532 for 9th-grade students to help them prepare for the Основной государственный экзамен (ОГЭ). The seminar covered tax functions (fiscal, distributive, stimulative, and control), taxation systems (proportional, progressive, regressive), and the levels of taxation in the Russian Federation. Tax officials also explained how tax revenues fund public services such as education, healthcare, and urban development, concluding with an interactive quiz to reinforce the material.

Moscow Property Tax Advance Payment Deadline April 28

Russian organizations must pay Q1 2026 advance payments on transport tax, property tax, and land tax by April 28, 2026. The deadline for submitting advance payment notifications to tax authorities is April 25, extended to April 27 due to the weekend. The notice references Russian Tax Code Articles 363, 383, and 397, with exceptions for regions that do not require advance tax payments.

St. Petersburg Seminar on FTS Data Quality, AI Tools

ФНС России провела совещание-семинар в Санкт-Петербурге на площадке Академии ФНС ЛАБ-Нева, посвященное качеству данных в информационных системах налоговых органов. Заместитель руководителя ФНС Виталий Колесников и начальник Управления регистрации и учета налогоплательщиков Денис Кузьмичев обозначили приоритет использования инструментов на базе ИИ и машинного обучения для автоматического выявления аномалий и противоречий в десятках миллионов записей о налогоплательщиках. Участниками мероприятия стали представители налоговых органов, МГУ, МГТУ им. Баумана, АО ГНИВЦ, ПАО Сбербанк, а также представители дата-индустрии и банковского сектора.

Certificazioni Uniche Bulk Data Request Experimental Period Extended

The Agenzia delle Entrate has issued Provvedimento del 20 aprile 2026 extending the experimental period for the massive acquisition of Certificazioni Uniche (CU) tax certification data. The extension applies to the framework originally established by Provvedimento prot. n. 390142 of 20 October 2025, which introduced procedures for the telematic submission of CU data requests and bulk data provision. Technical specifications for the extended period are provided in Annex A (transmission specifications) and Annex B (data provision specifications).

Italian Tax Agency Fiscal Reliability Index Benefits Directive

The Italian Tax Agency (Agenzia delle Entrate) has issued Directive Prot. n. 123160/2026 establishing fiscal reliability index (ISA) thresholds for tax benefits under Article 9-bis, comma 11 of decree-law n. 50/2017. Taxpayers with ISA reliability levels of 8, 8.5, or 9 qualify for benefits including exemption from conformity seals (visto di conformità) for VAT credit compensation up to €70,000, VAT refund guarantees, exclusion from non-operating company rules, and reduced assessment limitation periods. The directive applies starting from tax period 2025.

IRAP Refund Model for Intra-EU and SEE Dividends Exceeding 5% Threshold

The Agenzia delle Entrate has issued a provvedimento implementing Article 1, paragraphs 48 and 49 of Law 30 December 2025, n. 199, approving an official application form (model) for taxpayers to request refunds or use in compensation the portion of IRAP attributable to intra-EU or EEA (SEE) dividends that formed part of net production value in excess of 5%. The measure also includes instructions for completing the form. Italian companies that paid IRAP on qualifying cross-border dividends above the 5% threshold may now file formal refund or compensation claims using the approved model pursuant to Articles 6 and 7 of Legislative Decree 446/1997.

Nearly 1.5 Million Received Tax Settlement, 17th Apr

Updated figures as of April 17, 2026 show that 4.1 million people have visited skatteetaten.no to check their tax returns, with nearly 1.5 million having received their tax settlement. Of the 2.6 million employees and pensioners who have filed their returns, approximately 2.7 million are projected to receive tax refunds averaging 15,200 kroner each (totaling 42 billion kroner), while about 1.2 million are expected to owe additional tax averaging 43,200 kroner (totaling 50 billion kroner). The filing deadline is April 30 for employees and pensioners, and June 1 for self-employed individuals.

81,000 Crypto Owners Report 34B NOK in 2024

Skatteetaten reports that 81,000 Norwegian individuals disclosed cryptocurrency holdings in their 2024 tax filings, up from 55,000 in 2023, collectively reporting approximately 34 billion NOK in crypto assets. The OECD's Crypto-Asset Reporting Framework (CARF) entered into force on 1 January 2026, requiring crypto exchange and custody providers to report annually to tax authorities, including information on transactions and data from foreign operators. Oslo leads with 16,330 crypto owners, followed by Bergen (5,284) and Trondheim (4,008).

Norway Eases Property Market Value Documentation Rules for 2025 Tax Returns

Skatteetaten has moved the documentation deadline for property market value changes in tax returns from July 1 to January 1 of the income year, effective for the 2025 tax return filed by April 30. Taxpayers may now submit purchase prices, appraisals, or valuations dated from January 1, 2025 onward to support a lower property valuation. Those who already filed documentation dated before July 1 will have their submissions corrected automatically without further action.

CBDT Notifies ITR-5 Form for Assessment Year 2026-27

The Central Board of Direct Taxes has substituted Form ITR-5 in Appendix-II of the Income-tax Rules, 1962 through the Income-tax (Fifth Amendment) Rules, 2026. The amended form, applicable for Assessment Year 2026-27, covers persons other than individuals, HUFs, companies, and ITR-7 filers, including firms, LLPs, AOPs/BOIs, cooperative societies, business trusts, and artificial juridical persons. The rules come into force from 31 March 2026.

CBDT Notifies ITR-2 Form for AY 2026-27

The Central Board of Direct Taxes has issued Notification No. 46/2026, dated March 30, 2026, substituting the Income Tax Return Form ITR-2 in Appendix-II of the Income-tax Rules, 1962, for Assessment Year 2026-27. The Income-tax (Third Amendment) Rules, 2026 come into force with effect from March 31, 2026. The revised ITR-2 form includes updated fields for personal information, residential status determination, filing status (original, revised, defective, or in response to notice under sections 139(9), 142(1), 148, or 153C), address details for communication, PAN and Aadhaar numbers, and schedules requiring disclosure of unlisted equity shares held during the previous year, along with thresholds for high-value transactions including deposits exceeding Rs. 1 crore in current accounts and electricity expenditure exceeding Rs. 1 lakh.

CBDT Notifies ITR-3 Form for AY 2026-27

The CBDT has substituted Form ITR-3 in Appendix II of the Income-tax Rules, 1962, via the Income-tax (Fourth Amendment) Rules, 2026, effective March 31, 2026, applicable to returns filed for Assessment Year 2026-27. The revised form includes updated personal information fields, communication address requirements, filing status verification questions, and new regime-selection tracking through Form 10IEA. New questions capture business/profession income status, prior-year ITR-3/4 filing history with Form 10IEA, and tax regime switching information for individuals and HUFs.

Japanese Corporate Tax Survey FY2024 Results: Record 1.19M Profitable Companies

The National Tax Agency of Japan released its FY2024 corporate tax sample survey results covering approximately 2.999 million active domestic corporations with fiscal years ending between April 2024 and March 2025, filed by July 31, 2025. Profitable corporations reached a record 1,191,755, up 3.8万 from the prior year; loss-making corporations stood at 1,807,925, representing 60.3% of all entities. Operating revenue totaled 182.3 trillion yen (+3.6%) and pretax income reached 102 trillion yen (+11.2%), both record highs for the fourth and fifth consecutive years respectively. Corporate tax revenue also reached a record 18.68 trillion yen (+13.9%).