Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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William (Bill) Gale, 2026 Holland Medal Recipient
William (Bill) Gale has been named the 2026 Holland Medal recipient by the National Tax Association. The Holland Medal is a prestigious recognition awarded to individuals who have made significant contributions to the study and practice of public finance and taxation. Gale, a prominent tax policy economist, is well known for his extensive research on federal tax policy, fiscal sustainability, tax reform, and the economic effects of taxation in the United States. His work has shaped academic and policy debates around tax systems for decades, making him a highly respected figure in the tax research community.
AICPA Expresses Support for Bill to End Tax Penalties on American Hostages
The AICPA has expressed support for legislation aimed at eliminating tax penalties imposed on American hostages and wrongfully detained citizens. The bill seeks to ensure that individuals held captive abroad are not penalized for failing to meet U.S. tax obligations during their detention. The AICPA argues it is unjust for hostages to face IRS penalties, interest, or compliance failures due to circumstances entirely beyond their control. The organization is urging Congress to pass the measure, highlighting the need for compassionate tax policy that accounts for extraordinary personal hardship faced by Americans detained in foreign countries.
Dynan, Elmendorf, and Sheiner on Ai and Fiscal Policy
Economists Karen Dynan, Douglas Elmendorf, and Louise Sheiner examine how artificial intelligence may reshape fiscal policy analysis and government budgeting processes. Their research explores AI's potential to improve macroeconomic forecasting, revenue estimation, and spending projections used by fiscal authorities. While broadly focused on fiscal policy, the discussion includes implications for tax revenue modeling and the use of AI-driven tools in tax policy evaluation, touching on how AI technology could enhance the accuracy and efficiency of government tax and budget decision-making.
Case Study: Multi-Country VAT Registration for US Sellers Expanding in Europe
This case study examines the VAT registration challenges faced by US-based sellers expanding into European markets. It covers the complexities of multi-country VAT compliance, including registration thresholds, obligations across different EU member states, and the practical steps sellers must take to remain compliant. The article addresses key considerations such as the EU's One Stop Shop (OSS) scheme, country-specific requirements, and the administrative burden of managing VAT across multiple jurisdictions. It serves as a practical guide for US e-commerce businesses navigating European VAT obligations as they scale internationally.
Gifted a House? How Transferring Property (Cheaply) Can Also Transfer Tax Debt to Someone Else: A Comprehensive Guide to Section 160 of the Income Tax Act
A comprehensive guide to Section 160 of Canada's Income Tax Act, which allows the CRA to hold recipients of property transfers jointly liable for the transferor's tax debt. The article explains how gifting or selling property below fair market value — including to spouses, children, or relatives — can expose the recipient to the original owner's outstanding tax obligations. Key topics include the conditions triggering Section 160 liability, how the CRA assesses transferees, available defenses, and strategies to mitigate risk when transferring real estate or other assets at undervalue.
CCUS Investment Tax Credit: A Canadian Tax Lawyer’s Guide to Carbon Capture Incentives
A Canadian tax lawyer's guide to the Carbon Capture, Utilization, and Storage (CCUS) Investment Tax Credit introduced by the federal government. The article covers eligibility requirements for businesses investing in carbon capture projects, qualifying expenditures, applicable credit rates, and the refundable nature of the credit. It also addresses compliance obligations, how the credit interacts with other Canadian tax incentives, and practical considerations for corporations planning CCUS investments. The guide aims to help businesses and advisors navigate the technical and procedural requirements to successfully claim this green-energy tax incentive.
Hawaii Changes Affordable Housing Tax Exemption Authority
Hawaii has enacted legislation modifying the authority governing tax exemptions for affordable housing projects. The changes affect how exemptions are administered and granted, potentially impacting developers and organizations involved in affordable housing construction and financing. This legislative update reflects ongoing state-level efforts to incentivize affordable housing development through targeted tax relief measures. The adjustments to exemption authority may influence eligibility criteria, application processes, or the scope of qualifying projects, with implications for real estate developers, nonprofit housing organizations, and local government agencies working to address housing affordability challenges in Hawaii.
US Refunded $49.2B In Tariffs Last Month, Treasury Says
The U.S. Treasury reported that $49.2 billion in tariffs were refunded last month, highlighting significant activity in customs duty drawback and refund mechanisms. This substantial figure underscores the scale of tariff collections and subsequent refunds within the U.S. trade system, reflecting ongoing adjustments related to trade policy, exclusion processes, or drawback claims. The data points to the financial magnitude of U.S. customs administration and may reflect broader trade policy developments, including exclusions granted on previously imposed tariffs affecting importers across various industries.
Register to complete origin declarations under the UK-India Free Trade Agreement
This UK government guidance covers the registration process for exporters wishing to complete origin declarations under the UK-India Free Trade Agreement. Origin declarations are required to claim preferential tariff rates, making this directly relevant to customs and trade compliance. Businesses exporting goods between the UK and India must register to self-certify the originating status of their products. Proper origin declarations enable importers in the counterpart country to benefit from reduced or zero duties under the FTA, affecting supply chain and customs planning for UK-India trade flows.
Autorización y auditoría en la identidad digital tributaria: pilares normativos y operativos para la confianza
This article from CIAT (Inter-American Center of Tax Administrations) examines the normative and operational pillars underpinning digital tax identity systems, focusing on authorization and audit mechanisms. It explores how tax authorities can build trust in digital identity frameworks through robust regulatory structures and operational controls. The piece addresses governance models for authenticating taxpayers in digital environments, the role of auditing in ensuring integrity of digital tax interactions, and the standards needed to secure tax administration platforms. It is relevant to modernizing tax authority infrastructure and ensuring compliance in increasingly digital tax ecosystems.
What the World Cup teaches us about proactive tax planning
Using the World Cup as a metaphor, this article draws parallels between strategic sports preparation and proactive tax planning. It emphasizes that successful tax outcomes, like championship wins, require forward-thinking strategy, anticipating rule changes, assembling the right team of advisors, and avoiding reactive decision-making. The piece encourages tax professionals and businesses to engage in year-round planning rather than last-minute compliance scrambles, leveraging scenario analysis and staying ahead of legislative developments to minimize tax liabilities and avoid penalties.
Noked: “Congress-Proof” International Tax Reforms
This article examines academic proposals for international tax reforms that could be implemented without requiring Congressional approval. The piece explores mechanisms by which the U.S. executive branch or regulatory bodies might advance international tax policy changes—potentially relating to OECD frameworks, Pillar Two, or cross-border tax rules—while bypassing the legislative process. The analysis is relevant to ongoing debates about U.S. engagement with global minimum tax initiatives and the structural constraints facing international tax reform in a divided political environment.
Greece Seizes Evidence In Suspected €46.9M VAT Fraud
Greek authorities have seized evidence in connection with a suspected VAT fraud scheme valued at approximately €46.9 million. The investigation targets individuals and entities alleged to have evaded VAT obligations, with authorities conducting raids to gather documentation and other evidence. The case highlights ongoing enforcement efforts by Greek tax authorities to combat large-scale VAT fraud, which remains a significant source of revenue loss across EU member states. Greece has intensified its tax compliance and enforcement activities in recent years as part of broader fiscal consolidation efforts and EU-level commitments to reduce the VAT gap.
CCIA Responds to Korea’s Proposed Digital Service Tax
The Computer & Communications Industry Association (CCIA) has responded to South Korea's proposed Digital Services Tax. The organization has weighed in on the policy debate surrounding Korea's plan to impose a digital services tax, which would likely target major online platforms and technology companies. Such taxes have been a contentious issue globally, often raising concerns about trade retaliation, double taxation, and disproportionate impact on foreign technology firms. CCIA's response reflects broader industry opposition to unilateral digital services taxes that may conflict with international tax frameworks, including OECD Pillar One negotiations aimed at creating a multilateral solution.
Hawaii amends eligible business activities for Enterprise Zone Program
Hawaii has amended the eligible business activities qualifying for its Enterprise Zone Program. The program offers tax incentives to businesses operating in designated enterprise zones, and the update modifies which activities can benefit from these incentives. Such programs typically provide reductions in state income tax, unemployment insurance taxes, and general excise taxes for qualifying businesses. The amendment affects companies seeking to participate in the program by clarifying or expanding the scope of eligible operations, potentially impacting tax planning for businesses considering establishing or expanding operations within Hawaii's designated enterprise zones.
Form: Request transfer of a VAT registration number
This UK government form (VAT68) allows businesses to request the transfer of an existing VAT registration number, typically arising in business transfers or changes of legal entity. Retaining a VAT registration number can be important for continuity of trading, avoiding disruption to VAT returns, and maintaining relationships with customers and suppliers. The form is submitted to HMRC and relates directly to VAT registration administration in the UK, making it a procedural but genuine VAT compliance matter for businesses undergoing restructuring or ownership changes.
Assam to launch integrated online system for forest royalty & GST
Assam state in India is set to launch an integrated online system combining forest royalty collection with GST compliance. The platform aims to streamline revenue administration by linking timber and forest produce royalty payments with GST reporting, reducing manual processes and improving tax compliance tracking. This digital integration initiative reflects India's broader push toward technology-enabled tax administration at the state level, enabling better data reconciliation between forest department revenues and GST filings for businesses operating in the forestry sector.
TEAC criterion on the REDEF register (excise/VAT depots)
Spain's Central Economic-Administrative Court (TEAC) has issued a criterion regarding the REDEF register, which governs excise duty and VAT depot operations. The ruling clarifies administrative and compliance obligations for businesses operating fiscal warehouses and tax depots under Spain's excise and VAT frameworks. TEAC criteria carry binding precedential weight for Spanish tax authorities, making this decision significant for warehouse operators and businesses using duty-suspension arrangements. The ruling addresses registration requirements and procedural rules applicable to excise and VAT depot operators in Spain.
UK: reform of customs treatment of low‑value imports
The UK government is reforming its customs treatment of low-value imports, addressing the current relief that exempts goods below a threshold from customs duties and VAT. The reform aims to level the playing field between domestic retailers and overseas sellers, particularly e-commerce platforms shipping directly to UK consumers. Changes are expected to impact how VAT and customs duties are collected on parcels, potentially introducing marketplace liability rules or revised de minimis thresholds. This follows similar reforms globally targeting cross-border e-commerce tax leakage.
Guidance: Gains on foreign life insurance policies (Self Assessment helpsheet HS321)
This UK HMRC Self Assessment helpsheet (HS321) provides guidance on reporting gains from foreign life insurance policies for personal income tax purposes. UK resident policyholders who hold foreign life insurance bonds may be subject to chargeable event gains, which are taxed as income. The helpsheet explains how to calculate the gain, apply top-slicing relief, and report the amounts correctly on a Self Assessment tax return. It is directly relevant to individuals with offshore investment bonds and their personal income tax obligations in the UK.
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