Indirect Tax
Singapore announces new e-invoicing mandate with phased compliance deadlines for all GST registered businesses
Excerpts from various sources
Inland Revenue Authority of Singapore (IRAS) has announced new deadlines for mandatory e-invoicing under the GST framework. The mandate is now applicable to all GST-registered businesses, including both new and existing registrants. Initially, e-invoicing was applied only to companies voluntarily registering for GST within six months of incorporation (w.e.f. 1 November 2025), and subsequently, to all new voluntary registrations, regardless of incorporation date or business structure, w.e.f 1 April 2026. Now, the mandate will be rolled out in phases from April 2028 to April 2031, based on the annual sales turnover of existing GST registrants.
UAE Ministry of Finance issues new guidelines for the upcoming e-invoicing system w.e.f. July 2026
Excerpts from various sources
The UAE Ministry of Finance has released new guidelines explaining the framework for the country’s upcoming e-invoicing system. The system will use a Decentralized Continuous Transaction Control (DCTCE) model to exchange invoice data electronically. Businesses will issue invoices through approved Accredited Service Providers (ASPs) who will validate and transmit the data. The guidelines outline technical standards, roles of service providers, and how invoices will be reported to the tax authority.
VAT Updates
Excerpts from various sources
| Country Name | Description | VAT update |
|---|---|---|
| Lebanon | Goods | Existing 11% VAT substituted with 12% |
| Gibraltar | Goods | 15% Transaction Tax to be imposed from 10 April 2026 |
| Ecuador | Tourist services during the 2026 Carnival holiday | Existing 15% VAT reduced to 8% temporarily |
| Belgium | Furnished Accommodations & Campsites | Existing 6% VAT increased to 12% starting 1 March 2026 |
Transfer Pricing
Belgium: Updated guidance on Country-by-Country Notification Form
On 27 January 2026, the Belgian tax authorities, following the Royal Decree of 16 June 2024, issued updated guidance on completing the Country-by-Country Notification Form (Form 275 CBC NOT).
All Belgian constituent entities that are part of a Multinational Enterprise (MNE) Group meeting the Country-by-Country Reporting (CbCR) threshold are required to submit Form 275 CBC NOT. However, effective from 2019, this notification need not be filed annually if the previously submitted information remains unchanged. It is required only when there is a change in the previously reported details.
Constituent entities are required to specify the nature of the notification in Form 275 CBC NOT by selecting any one of the following categories:
- A first notification;
- A modification of the previous notification; or
- A termination of the notification obligation due to no longer being part of the MNE Group
The guidance issued clarifies the circumstances under which the above categories should be selected.
Change in the MNE Group
In the event of a change within the MNE Group, such as an acquisition, merger, or restructuring, the Belgian entities must follow a two-step procedure.
- To record its exit from the former MNE Group, the constituent must submit Form 275 CBC NOT, indicating “termination of its notification obligation due to no longer being part of the MNE Group”.
- Subsequently, if the constituent entity becomes part of a new MNE Group that is also subject to CbCR requirements, a new Form 275 CBC NOT must be submitted, explicitly selecting sthe “first notification” option.
In the above-mentioned scenario, the option “modification of your previous notification” is not permitted.
MNE Group not breaching the threshold of EUR 750 million
Belgian constituent entities must file a notification indicating “Termination of your notification obligation, due to no longer being a member of the MNE group,” regardless of whether they are subsidiaries or the ultimate parent, if the threshold is not met.
Further clarification has been issued stating that the option “modification of a previous notification” should be selected only in cases where the constituent entity continues to remain within the same MNE group subject to the reporting obligation, but there are changes in details such as the address, name, or identity of the reporting entity.