The Guyanese Ministry of Finance announced the 2026 budget speech on Jan. 26, outlining several VAT and tax changes. Key measures include removing VAT on locally made furniture, jewelry, security equipment, and specific vehicles, maintaining a zero excise tax on petroleum, extending the end date for adjusted freight charges to Dec. 31, and increasing the monthly old‑age pension to 46,000 GYD effective Jan. 1.
The monthly old‑age pension increase to 46,000 GYD takes effect on Jan. 1, 2026.
VAT will be removed on locally made furniture, jewelry, security equipment, and specific vehicles.
The end date for adjusted freight charges is extended to Dec. 31, 2026.
An annual transportation support grant of 20,000 GYD (US$95) will be introduced for OAP pensioners.
The excise tax rate on petroleum products remains at zero percent.
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Vertex, Inc. · about 13 hours ago
Mexico’s e‑invoicing regime, governed by the CFDI XML format (Anexo 20, version 4.0), applies universally to all taxpayers and covers B2B, B2C, and B2G transactions with no turnover threshold. The 2026 tax reform tightens authenticity checks, expands SAT enforcement powers, and imposes fines of 5–10 % of invoice value for non‑compliance.
WTW · 9 days ago
Mexico amended its Federal Revenue Law on 7 November 2025, removing the ability to recover 16% VAT on goods and services used in major medical insurance claims. The change is retroactive from 1 January 2025 and is expected to raise major medical costs by 10‑12%, potentially increasing loss ratios by 8‑12% and overall captive costs by over 20%. WTW recommends early engagement and scenario analysis to manage the impact.
WTW · 9 days ago
Mexico amended its Federal Revenue Law on 7 November 2025, removing insurers’ ability to recover 16% VAT on goods and services used in covered major medical treatments. The change is retroactive from 1 January 2025 and is expected to raise major medical costs by 10‑12%, potentially increasing loss ratios by 8‑12% and overall captive costs by over 20%.
VatCalc · 9 days ago
British Columbia will broaden its Provincial Sales Tax (PST) to include a range of professional services from 1 October 2026, maintaining a 7% rate that, combined with the federal 5% GST, brings the total tax on most supplies to 12%. For architectural, engineering and geoscience services, PST will apply to only 30% of the purchase price. Service providers in the new scope must register for PST and prepare to charge, collect and remit the tax, with further administrative guidance to follow.
VATCalc · 10 days ago
Argentina’s tax authority ARCA has extended mandatory e‑invoicing to financial institutions, insurance companies and credit card providers effective 1 July 2026, introducing a monthly electronic settlement system and pre‑filled VAT returns. The General Resolution 5824/26 also plans to add prepaid health plans and educational institutions by July 2027, urging businesses to prepare early for the expanded e‑invoicing infrastructure.
LinkedIn Article by Ryan · 10 days ago
The U.S. Supreme Court invalidated tariffs imposed under the International Emergency Economic Powers Act, ruling that the President lacked authority to impose 25% tariffs on Mexico and Canada and 10% tariffs on China and other partners. The decision remanded the case and left importers without a remedy, prompting the administration to announce a new worldwide tariff under the Trade Act of 1974. Importers must seek refunds through Customs and the U.S. Court of International Trade.
