NEWS DIGEST: Tax Administration, Tax Policy, Public Finance, International Financial Markets
1. IMF Recommends Improving the System for Resolving Domestic Tax Disputes
imf.org, 18 August 2026
More than 50 — Pages in the practical guide.
The IMF presented a practical guide on the management of domestic tax disputes, treating dispute resolution as an integral function of tax administration. According to the authors, an effective dispute-resolution system helps protect government revenue, support voluntary tax compliance, and strengthen taxpayers’ trust in the tax system. The IMF recommends structuring the dispute-resolution process around fairness, timeliness, and independence, supported by clear legal foundations, effective governance, and qualified staff. The guide provides for a three-stage system: administrative review, consideration of appeals by specialized bodies, and judicial appeal. It also recommends the use of alternative dispute-resolution mechanisms. Particular attention is given to taxpayers’ rights and obligations, transparency, oversight, and monitoring of results. The guide contains performance indicators, practical examples, and experience from different countries, making it possible to adapt the proposed approach to both civil-law and common-law systems.
2. OECD Presents a Practical Guide to Investment Tax Incentives
oecd.org, 27 April 2026
4 stages — The life cycle of tax incentives covered by the guide.
The OECD presented a practical guide to investment tax incentives, intended primarily for developing and emerging economies. The organization notes that tax incentives are widely used to attract investment, but they do not always achieve their stated objectives and may lead to significant budgetary costs and economic distortions. The guide covers the entire life cycle of tax incentives — from defining objectives and designing specific measures to implementation, monitoring, and evaluation of results. The OECD recommends defining the expected outcomes of incentives in advance, comparing them with budgetary costs, and regularly checking whether the incentives provided actually generate additional investment. Particular attention is given to the transparency and predictability of granting incentives. The OECD recommends minimizing discretionary decisions when selecting beneficiaries, reducing administrative costs for businesses, and regularly evaluating existing incentives so that only effective support measures are retained.
3. Uzbekistan Does Not Meet U.S. Minimum Requirements for Fiscal Transparency
state.gov, 11 August 2026
73 out of 140 — Governments and organizations meet the minimum requirements.
The U.S. Department of State published the 2026 Fiscal Transparency Report, which assesses the availability and completeness of budget information, disclosure of public debt data, the work of supreme audit institutions, and the transparency of public procurement and licensing for natural resource extraction. Overall, 73 of the 139 governments and one organization assessed meet the minimum requirements, while 67 do not meet the established standards. Uzbekistan was included among the countries that do not meet the minimum requirements for fiscal transparency. The Department of State recommends including information on allocations to and revenues of major state-owned enterprises in budget documents, fully disclosing data on public debt and guarantees, and publishing the terms of loans to foreign governments and public procurement contracts. The report emphasizes that greater transparency in public finance can strengthen the accountability of government bodies and oversight of the use of budget funds. At the same time, the fiscal transparency assessment is not an assessment of the level of corruption in a country.
Read more → https://www.state.gov/reports/2026-fiscal-transparency-report/uzbekistan
4. Uzbekistan to Create a Unified Registry of Business Incentives and State Support Measures
uzdaily.uz, 19 August 2026
18 November 2026 — Date when the new rules enter into force.
Uzbekistan will create a special registry of incentives and preferences for businesses under amendments to the Law “On Guarantees of Freedom of Entrepreneurial Activity,” approved by the President on 17 August 2026. The registry will contain information on support measures available to entrepreneurs, their validity periods, and the procedures for obtaining them. It will be maintained by the Ministry of Economy and Finance on a dedicated platform. State support will include tax and customs incentives, concessional lending, grants, financial subsidies, infrastructure assistance, and support for workforce training. Measures will be provided on equal terms by sector, area of activity, and region, while unjustified refusal to grant incentives or creating obstacles to obtaining them will be prohibited. Subsidies may be directed toward introducing green technologies, developing tourism, education and healthcare, connecting enterprises to engineering infrastructure, supporting social entrepreneurship, and reducing the shadow economy.
5. Vietnam Introduces Centralized Customs Clearance to Accelerate Foreign Trade
vir.com.vn, 20 August 2026
Since 1 June 2026 — The centralized customs-clearance model has been operating on a pilot basis.
Vietnam is developing a centralized customs-clearance model that moves the processing of import and export cargo toward a more digital and standardized format. The system is intended to reduce shipment processing times, decrease direct contacts between businesses and customs authorities, and increase the transparency of procedures. The pilot model was launched on 1 June 2026 at the Region III Customs Sub-Department covering Hai Phong. Some operations, including clearance of certain categories of goods, remain with customs units at border checkpoints. Centralization is expected to shorten customs-clearance times, reduce administrative burdens, and further digitalize trade. Vietnam views the reform as part of its transition toward a more efficient and transparent system for managing foreign-trade flows.
6. World Bank Prices $4 Billion Seven-Year Bond Amid Strong Investor Demand
worldbank.org, 18 August 2026
Markets in waiting mode: as bitcoin remains volatile, investors look for a safer haven
$4 BILLION — Volume of the seven-year Sustainable Development Bond issue.
The World Bank priced a $4 billion seven-year Sustainable Development Bond, with investor demand significantly exceeding supply: orders surpassed $11 billion. More than 150 investors participated in the transaction, including banks, central banks and official institutions, as well as asset managers. The bond carries a 4.5% annual coupon, paid semi-annually, and will mature on 25 August 2033. The issuance was the World Bank’s first U.S. dollar benchmark of the new fiscal year and its second fixed-rate U.S. dollar offering in 2026. Banks and corporates accounted for the largest investor share at 43%, followed by central banks and official institutions at 30%, and asset managers, insurance companies and pension funds at 27%. Geographically, investors from Europe, the Middle East and Africa led with 42%, followed by the Americas at 38% and Asia at 20%. According to the World Bank, the strong demand reflects investors’ confidence in its financial strength and its ability to mobilize capital for sustainable development projects.
7. EBRD and Al Mansour Bank for Investment Expand Trade Finance in Iraq
ebrd.com, 18 August 2026
EBRD and Al Mansour Bank for Investment deal
$75 MILLION — Trade-finance limit for Al Mansour Bank for Investment.
The European Bank for Reconstruction and Development will provide Al Mansour Bank for Investment with a trade-finance limit of up to $75 million. The funds will support import and export operations and expand access to international finance for Iraqi companies, including small and medium-sized enterprises. The financing is provided under the EBRD’s Trade Facilitation Programme and includes guarantees and cash advances to help cover political and commercial risks in cross-border transactions. The transaction will also enable Al Mansour Bank to expand its network of correspondent banks and increase the availability of trade finance in Iraq, where international banking services remain limited. In addition to financial support, the EBRD will provide the bank with technical assistance — advisory services and training to strengthen its trade-finance capabilities. This is expected to help Iraqi companies participate more actively in international trade and strengthen the country’s links with global markets.
8. ADB Signs First Deal with a Turkish Leasing Company to Strengthen Energy Security and Expand Clean Energy
adb.org, 18 August 2026
Wind turbines and energy infrastructure at sunset — a symbol of the transition to clean energy
$50 MILLION — Financing provided to Yapı Kredi Leasing.
The Asian Development Bank signed its first agreement with a financial leasing company in Türkiye, providing $50 million to expand financing for renewable energy, energy efficiency, and environmentally sustainable industry projects. The transaction marks ADB’s first operation with Türkiye’s leasing sector, which plays an important role in financing private-sector investment. The funds will finance equipment for solar, wind, and geothermal energy, electric vehicles and charging infrastructure, as well as energy-efficient industrial equipment. Around 15% of the financing will be used for “environmental development” projects, including plastics recycling, wastewater treatment, biodegradable packaging production, and equipment for the fisheries sector. According to ADB, the project will help strengthen Türkiye’s energy security, accelerate the transition to a low-carbon economy, and expand companies’ access to sustainable finance.
9. Thailand’s Manufacturing Sector Strengthens Maternity Protection and Workplace Safety
ilo.org, 19 August 2026
Chonburi, Thailand
More than 50 — Enterprises are participating in a programme to improve maternity protection and create safer and more inclusive workplaces.
Thailand’s manufacturing sector has begun introducing new worker-protection standards under an International Labour Organization (ILO) initiative supported by the Government of Japan. The programme brings together more than 50 enterprises, government representatives, employers, and trade unions to improve working conditions, strengthen occupational safety, and promote compliance with international labour standards. One of the project’s key areas is stronger maternity protection. Companies are reviewing internal human-resources policies to provide safer working conditions for pregnant employees and new mothers, prevent discrimination in recruitment and after return from childcare leave, and broaden workers’ access to social-protection mechanisms. At the same time, enterprises are introducing measures to prevent violence and harassment in the workplace and improving occupational safety and health management. The initiative also aims to increase the competitiveness of Thai manufacturers in global markets. Compliance with international social and labour standards is becoming an increasingly important requirement for global buyers and international companies; therefore, better working conditions can help enterprises strengthen their position in international supply chains, improve business resilience, and reduce workforce-related risks.
10. Vietnam Plans to Shift Large Enterprises to Risk-Based Tax Administration
vir.com.vn, 18 August 2026
Le Long, Deputy Director General of the Tax Department. Photo: Phuong Thao
More than 400 — Large enterprises are managed by a specialized tax unit.
Vietnam’s tax administration, together with IMF experts, is considering reform of the system for administering large enterprises, with an emphasis on managing tax-compliance risks. A separate approach is needed because the risks associated with large taxpayers go beyond registration, filing, and tax payment to include determination of tax liabilities, transfer pricing, and related-party transactions. The specialized tax-administration unit currently directly administers 393 enterprises, including large corporations, state-owned groups, foreign-invested companies, and enterprises in certain specialized sectors. This group accounts for around 25% of the country’s total domestic tax revenue. Large taxpayers are also characterized by complex ownership structures, cross-border transactions, and the use of new digital-economy business models. As part of the reform, the tax authorities plan to move from a predominantly audit-based approach toward early identification of tax risks and differentiated taxpayer management based on compliance levels. The IMF proposed assessing the specialized unit’s organizational structure, processes, and staffing, identifying gaps with international practices, and developing a target operating model and reform plan.
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