South Africa’s National Treasury is unlikely to raise the VAT rate for Budget 2026/27, citing political resistance. Instead, the focus will shift to enforcement and administrative reforms to strengthen the VAT system. A R20 bn tax increase pencilled in for 2026/27 is also expected to be reconsidered based on Sars performance.

The article examines the Tour Operators’ Margin Scheme (TOMS), highlighting its intended simplification for travel agents and the significant challenges it poses, such as blocked input VAT and inconsistent application across EU Member States. It discusses the scheme’s impact on profitability, competitive distortions, and the European Commission’s public consultation on reforms launched in 2025.

Brazil's new IBS/CBS/IS tax system now treats advance payments as taxable events, requiring businesses to issue a Debit Invoice (NF-e type 06) and report tax in the payment period. The final invoice must reference the advance payments via <gPagAntecipado> to offset tax already paid and avoid double taxation. ERP systems must support advance-payment tracking and the new invoicing requirements.

Belgium’s cabinet approved a draft royal decree on 14 February 2026 that raises VAT rates on certain goods and services. The decree increases the rate for pesticide and plant protection product deliveries from 12% to 21% and for furnished accommodation and camping pitch services from 6% to 12%.