Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
Tax Head
Region
UK Seeks Input On Potential Customs Updates
The UK government is consulting on potential updates to its customs framework, inviting industry and stakeholder input on possible reforms. The review covers areas such as customs procedures, import and export rules, and simplification of existing trade processes following Brexit. HMRC and HM Treasury are assessing whether current customs legislation adequately supports modern trade flows and business needs. The consultation could lead to legislative changes affecting importers, exporters, and supply chain operators, with implications for customs duty liabilities, compliance obligations, and the broader UK trade environment.
Policy paper: Summary of tax update 2026: simplification, modernisation and fairness
The UK government has published a summary of its 2026 tax update package focused on simplification, modernisation, and fairness across the tax system. The package covers multiple tax areas including income tax, capital gains tax, VAT, and business taxation. Measures aim to reduce administrative burdens for taxpayers and HMRC, modernise outdated rules, and improve fairness in the tax system. The update reflects the government's broader agenda to reform UK tax policy following consultations and the Spring Statement, consolidating announcements across various tax heads into a single overview document.
Policy paper: Capital Gains Tax relief on gifts of business assets
The UK government has published a policy paper on Capital Gains Tax (CGT) relief for gifts of business assets, commonly known as holdover relief. This relief allows donors to defer CGT when gifting qualifying business assets, with the gain held over until the recipient disposes of the asset. The paper outlines proposed reforms or clarifications to the relief's scope, eligibility conditions, and interaction with other CGT provisions. The update is part of the broader 2026 tax simplification and modernisation agenda, ensuring the relief operates fairly and as intended for business owners transferring assets.
Corporate report: Fiscal Events 2026 — factsheets
HMRC and HM Treasury have published factsheets covering the UK's 2026 fiscal events, providing detailed explanations of tax and spending measures announced throughout the year. The factsheets cover a range of topics across direct and indirect taxation, public finances, and government spending decisions. They serve as official reference documents explaining the policy rationale, technical detail, and estimated costings of measures introduced at fiscal events including the Spring Statement. The publication supports transparency and public understanding of government tax and fiscal policy decisions affecting businesses and individuals across the UK.
Extending online marketplace liability to combat non-compliance
The UK government is consulting on extending online marketplace liability to address VAT and tax non-compliance by third-party sellers. The proposal would make online marketplaces jointly and severally liable for unpaid taxes of sellers operating on their platforms. This builds on existing marketplace VAT rules and aims to close compliance gaps where overseas or domestic sellers fail to account for tax correctly. The consultation explores which marketplaces and transaction types should be in scope, thresholds, and enforcement mechanisms to create a level playing field between compliant and non-compliant sellers.
Introduction of Mandatory Registration for Customs Intermediaries
The UK government is consulting on introducing mandatory registration for customs intermediaries, such as customs agents and brokers who submit declarations on behalf of importers and exporters. The proposal aims to improve standards, accountability, and compliance within the customs intermediary sector. By requiring registration, HMRC and Border Force seek to ensure intermediaries meet minimum competency and conduct standards, reducing errors in customs declarations and improving revenue protection. The consultation examines registration criteria, governance, and the impact on the customs intermediary market and trade facilitation.
Customs Modernisation
The UK government has issued a call for evidence on customs modernisation, seeking views on how the UK's customs regime can be simplified, streamlined, and made fit for purpose post-Brexit. The exercise covers potential reforms to customs processes, IT systems, declaration requirements, and facilitations for traders. It explores how technology and data can reduce administrative burdens while maintaining border security and revenue compliance. Responses will inform future legislative and operational changes to the UK customs framework, with implications for importers, exporters, agents, and logistics operators.
Breves reflexiones sobre los efectos del cómputo de plazos en el marco de la cooperación tributaria internacional
This article offers brief reflections on the effects of deadline computation within the framework of international tax cooperation. It examines how time limits and procedural deadlines interact with cross-border tax information exchange and mutual assistance mechanisms. The analysis considers how differing national rules on deadline calculation can affect the effectiveness and legal certainty of international tax cooperation instruments, such as exchange of information agreements and mutual administrative assistance conventions, potentially impacting taxpayer rights and tax authority obligations in cross-jurisdictional contexts.
Tax-Exempt Organizations on High Alert
Tax-exempt organizations in the United States are facing heightened scrutiny and uncertainty, prompting them to reassess their compliance posture and governance practices. The article highlights key areas of concern including potential legislative changes affecting tax-exempt status, IRS enforcement activity, and operational risks that could jeopardize exemptions. Organizations are advised to review their activities, revenue sources, and reporting obligations carefully. Leadership and boards of tax-exempt entities are urged to stay vigilant amid a shifting regulatory and political environment that may alter the landscape for nonprofits, charitable organizations, and other tax-exempt entities operating under IRC Section 501(c).
NA approves Finance Bill 2026-27, rejects opposition amendments
Pakistan's National Assembly has approved the Finance Bill 2026-27, rejecting amendments proposed by the opposition. The bill sets out the government's fiscal and taxation framework for the upcoming financial year. Finance bills in Pakistan typically encompass a wide range of tax measures including changes to income tax, sales tax, customs duties, and other levies. The passage of the bill without opposition amendments signals the ruling coalition's ability to push through its budgetary agenda, shaping tax policy and revenue collection strategies for the country in the coming fiscal year.
Testimony: Are Digital Services Taxes a Viable Solution for the EU Budget?
This testimony examines whether digital services taxes (DSTs) represent a viable funding mechanism for the EU budget. It explores the structural and economic challenges of DSTs as an own resource for EU financing, analyzing their design flaws, potential trade tensions—particularly with the United States—and distortionary effects on the digital economy. The piece evaluates whether DSTs can provide a stable, fair revenue base for the EU, weighing them against alternative fiscal instruments. It considers geopolitical dimensions, including OECD/G20 negotiations on Pillar One, and questions whether pursuing DSTs risks undermining broader international tax coordination efforts.
Under the magnifying glass of the National Tax Administration. What do the statistics say about tax inspections in recent years?
This article analyzes statistics from a national tax administration — likely Poland — examining trends in tax inspections over recent years. It reviews data on the number of audits conducted, sectors targeted, amounts assessed, and enforcement outcomes. The analysis provides insight into how tax authority resources are deployed, which taxpayer segments face the highest scrutiny, and how inspection effectiveness has evolved. The findings are relevant for understanding audit risk and compliance expectations, offering a data-driven perspective on tax enforcement activity and the administration's strategic priorities.
Introducing the Real Estate Secrecy Index
The Tax Justice Network introduces the Real Estate Secrecy Index, a new tool measuring how effectively countries enable anonymous real estate ownership and hide beneficial ownership information. Real estate is a major vehicle for illicit financial flows, tax evasion, and money laundering, as opaque property ownership structures allow wealthy individuals and corporations to conceal assets from tax authorities. The index evaluates jurisdictions based on transparency requirements, beneficial ownership registration, and enforcement mechanisms. It aims to highlight which countries pose the greatest secrecy risks and pressure reform of property ownership disclosure rules to combat tax evasion and illicit wealth concealment globally.
Indicator deep dive: Golden Visas
Tax Justice Network's deep dive into Golden Visa programs examines how citizenship and residency-by-investment schemes enable wealthy individuals to exploit tax advantages across jurisdictions. Golden Visas allow high-net-worth individuals to acquire residency or citizenship in low-tax or secretive jurisdictions, facilitating tax avoidance, capital flight, and obscuring beneficial ownership of assets. The analysis covers how these programs undermine tax transparency, enable high earners to escape personal income tax obligations in their home countries, and complicate enforcement for tax authorities. The piece argues these schemes contribute significantly to global financial secrecy and erode domestic tax bases.
Wine Taxes by State, 2026
A Tax Foundation analysis comparing wine excise tax rates across all U.S. states for 2026. The resource maps and ranks state-level wine taxes, highlighting the significant variation between states in how they tax wine sales. Such excise duties on alcohol represent an important revenue source for states and affect pricing, consumer behavior, and the competitiveness of the wine industry. The data provides a comprehensive overview of the current wine tax landscape, useful for policymakers, industry stakeholders, and consumers seeking to understand how their state's tax burden on wine compares to others nationwide.
Crux on Participation in Transferable Tax Credit Market
Crux discusses participation in the transferable tax credit market, a mechanism under US clean energy legislation (Inflation Reduction Act) allowing entities to buy and sell federal tax credits. The article likely covers eligibility, compliance requirements, and strategic considerations for buyers and sellers of credits such as investment tax credits and production tax credits. Transferable tax credits have created a new market for entities unable to use credits directly, raising questions around due diligence, risk allocation, and IRS guidance governing these transactions.
Corporate Apportionment of Partnership IncomeVirginia ruling could have multistate implications
This article examines a Virginia ruling on the corporate apportionment of partnership income, with potentially broad multistate implications. It analyzes how Virginia determined that a corporate partner must apportion its distributive share of partnership income using the corporation's own apportionment factors rather than the partnership's. The ruling raises significant questions for multistate corporations with partnership interests, affecting how income is sourced and taxed across jurisdictions. The piece discusses the technical apportionment methodology, compares approaches across states, and warns that corporations may face unexpected tax liabilities or opportunities depending on their state nexus profile and partnership structures.
Sovereign Wealth Fund Tax on AI Companies Unveiled by Sanders
Senator Bernie Sanders has proposed legislation to establish a sovereign wealth fund financed through a new tax levied on AI companies. The proposal targets the artificial intelligence industry as a revenue source to fund a publicly owned investment vehicle. The policy aims to ensure that gains from AI development are broadly shared with the American public. This represents an emerging tax policy debate around how governments should tax large technology and AI firms, intersecting with broader discussions about digital services taxation and wealth redistribution through novel fiscal mechanisms targeting the fast-growing AI sector.
US Fields Questions On Temporary Global Tariff At WTO
The United States faced questions at the World Trade Organization regarding its temporary global tariff measures. WTO members sought clarification on the scope, legal basis, and duration of the tariffs, which have significant implications for international trade and customs policy. The discussions reflect broader tensions around unilateral trade measures and their compatibility with WTO rules. The temporary tariff regime has raised concerns among trading partners about potential disruptions to global supply chains and market access, prompting formal consultations within the WTO framework to assess compliance and seek transparency from Washington on its trade policy intentions.
Official Statistics: Statistical commentary on Non-domiciled taxpayers in the UK
HMRC releases statistical commentary on non-domiciled taxpayers in the UK, providing data on the number of individuals claiming non-domicile status, their income, tax liabilities, and remittance basis claims. This publication is directly relevant to personal income tax policy, particularly given recent UK government reforms to the non-dom regime, including plans to abolish the remittance basis and replace it with a residence-based system. The statistics inform ongoing policy debates about fairness, revenue impact, and the attractiveness of the UK to high-net-worth international residents and investors.
Get the Friday Digest
Every Friday, a curated summary of the week's tax news delivered to your inbox. Choose what you want to hear about — no noise, no spam, unsubscribe anytime.
Tax heads you care about(select all that apply)
Regions you care about(select all that apply)
Your email is never shared or sold. You can unsubscribe at any time. Built in compliance with GDPR.