Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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Tax Prom 2026
The Tax Foundation is hosting Tax Prom 2026, an annual fundraising gala event that brings together tax professionals, policymakers, and industry leaders. The event serves as a networking opportunity and celebration within the tax policy community, supporting the Tax Foundation's mission of promoting principled tax policy and economic research. As a prominent think tank focused on fiscal policy analysis, the Tax Foundation uses this event to engage stakeholders from across the tax profession. Further details regarding the specific agenda, speakers, or policy themes to be highlighted at the 2026 event may not yet be fully available at the time of publication.
United Kingdom: Tribunal clarifies VAT liability for Amazon marketplace sales
A UK tribunal has issued a significant ruling clarifying VAT liability for sales made through Amazon's marketplace platform. The decision addresses the complex question of who bears VAT responsibility when third-party sellers transact via Amazon's platform, examining whether Amazon acts as a disclosed or undisclosed agent. The tribunal's findings have important implications for marketplace operators and sellers operating in the UK, potentially reshaping compliance obligations for platform-based businesses. Tax professionals advising e-commerce clients should review this ruling carefully, as it may affect how VAT is accounted for on marketplace transactions and could influence similar disputes across other digital marketplace platforms.
New York Authorizes NYC Multiple Dwelling Rehabilitation Tax Abatement
New York State has authorized a tax abatement program for the rehabilitation of multiple dwelling properties in New York City. The legislation provides property tax relief to incentivize the renovation and improvement of residential buildings, addressing housing quality and availability concerns. The abatement is designed to encourage property owners to invest in upgrading aging housing stock within NYC by reducing their tax burden following qualifying rehabilitation work. This measure reflects ongoing efforts by New York State and City authorities to stimulate housing improvement through targeted tax incentives, making it relevant for real estate developers, property owners, and tax professionals advising clients in the New York residential real estate sector.
Targeting High Earners is Misguided and Will Worsen States’ Fiscal Positions
The Tax Foundation argues that targeting high earners through increased state income taxes is counterproductive and will ultimately damage states' fiscal positions. High-income taxpayers are mobile and responsive to tax rate changes, meaning aggressive rate increases can trigger outmigration, reducing the tax base rather than increasing revenues. States competing for talent and investment face competitiveness risks when they impose punitive rates on top earners. Historical data suggests states with lower tax burdens tend to experience stronger economic growth and population gains. The analysis warns that progressive tax hikes may produce short-term revenue gains but lead to long-term fiscal deterioration as high earners relocate to lower-tax jurisdictions.
2026 sales tax software comparison: Find the right tool for your business
This article provides a comprehensive comparison of sales tax software solutions for businesses in 2026, evaluating key platforms to help companies select the most suitable tool for their compliance needs. The guide examines features such as automated tax calculations, filing capabilities, integration with e-commerce and ERP systems, exemption certificate management, and reporting functionality. It targets businesses seeking to streamline sales tax compliance amid increasing complexity across jurisdictions. Key evaluation criteria include accuracy, scalability, pricing, and ease of use. The comparison is particularly relevant for US-based businesses navigating multi-state sales tax obligations following the South Dakota v. Wayfair economic nexus ruling.
Czech Republic: ViDA transposition bill submitted
The Czech Republic has submitted a bill to transpose the EU's VAT in the Digital Age (ViDA) package into national law. The legislation aims to modernize VAT compliance by introducing mandatory e-invoicing, digital reporting requirements, and updates to platform economy VAT rules. ViDA represents a significant overhaul of the EU VAT framework, requiring member states to implement real-time transaction reporting and structured electronic invoicing. The Czech transposition bill marks a key step in aligning domestic VAT legislation with EU directives, impacting businesses operating in or with the Czech Republic. Tax professionals should monitor the bill's parliamentary progress and assess compliance implications.
Financial Transaction Taxes in Europe, 2026
This Tax Foundation analysis examines financial transaction taxes (FTTs) across European countries as of 2026, detailing the varying rates and structures applied to securities trading, equity transfers, and other financial instruments. FTTs are levied on the buying and selling of financial assets such as stocks, bonds, and derivatives. The article maps which European nations have implemented such taxes, their applicable rates, and the scope of instruments covered. FTTs remain controversial among tax professionals, with debates around their impact on market liquidity, investment flows, and potential revenue generation. Several EU member states maintain distinct FTT regimes, creating a fragmented landscape without an EU-wide harmonized approach.
The Risks the Wealth Tax Advocates Are Ignoring
This Tax Foundation opinion piece critiques wealth tax proposals, particularly California's, highlighting significant risks that advocates overlook. The analysis focuses on constitutional challenges, capital flight concerns, and administrative difficulties in valuing illiquid assets such as private business interests and real estate. The piece argues that wealth taxes could drive high-net-worth individuals and businesses to relocate, eroding the tax base rather than raising projected revenues. Historical examples from European countries that repealed similar taxes are cited. The author contends that the economic distortions and enforcement complexities make wealth taxes impractical and counterproductive as a revenue-raising mechanism.
Spanish B2B e-invoicing technical guidance published
Spain has published technical guidance for its mandatory B2B e-invoicing system, advancing implementation of the Crea y Crece law. The guidance details specifications for the VERI*FACTU and TicketBAI systems, outlining requirements for invoice formats, digital signatures, and submission protocols. Businesses operating in Spain must comply with structured XML-based invoice formats and ensure their billing software meets the new technical standards. The rollout is expected to be phased, with large companies facing earlier compliance deadlines. Tax professionals advising Spanish businesses should review the technical specifications to prepare IT systems, accounting software, and internal processes ahead of the mandatory implementation dates.
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