Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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PM Shehbaz hails FBR for surpassing historic revenue target
Pakistani Prime Minister Shehbaz Sharif has praised the Federal Board of Revenue (FBR) for surpassing a historic revenue collection target. The milestone reflects improved tax compliance, administrative reforms, and enforcement efforts by the FBR. The achievement is seen as a significant step toward fiscal consolidation and meeting IMF programme benchmarks. The PM acknowledged the FBR's role in broadening the tax base and increasing collections across major tax heads including income tax, sales tax, and customs duties, underscoring the government's commitment to sustainable revenue growth.
E-Invoicing Models: SAP Add-On vs SaaS vs API Solutions
This article compares three primary technical approaches for implementing e-invoicing compliance: SAP add-on solutions, Software-as-a-Service (SaaS) platforms, and API-based integrations. It evaluates each model across dimensions including implementation complexity, scalability, maintenance burden, and adaptability to evolving country-specific mandates. Businesses must weigh factors such as existing ERP infrastructure, IT capability, and the number of jurisdictions covered when selecting a solution. The piece provides practical guidance for finance and tax technology teams navigating the growing global wave of e-invoicing regulatory requirements.
EU Low Value Consignment Relief Abolished: New Import Rules from 2026
The EU is abolishing the Low Value Consignment Relief (LVCR), which previously exempted goods valued under €150 from import VAT, effective 2026. This reform eliminates a widely exploited loophole used by non-EU e-commerce sellers to undercut EU-based businesses. The new rules require VAT to be collected on all imports regardless of value, with marketplaces and deemed supplier rules playing a central role in enforcement. The changes aim to level the playing field for EU retailers and improve VAT revenue collection on cross-border e-commerce transactions entering the EU market.
Slovenia Tax Cuts: Proposed Changes to VAT and Contributions
Slovenia is proposing a package of tax cuts that includes reductions to VAT rates and changes to social contribution rates. The proposals are part of a broader effort to ease the tax burden on individuals and businesses amid economic pressures. Specific measures under consideration include adjustments to VAT on certain goods or services and reforms to payroll-related contributions. The article outlines the legislative status of the proposals, potential fiscal impact, and timeline for implementation, highlighting Slovenia's intent to stimulate economic activity through targeted tax relief measures.
Austria VAT Reduction Proposal: Lower VAT on Staple Foods
Austria is considering a proposal to reduce VAT rates on staple food items as a measure to address cost-of-living pressures. The proposal would lower the VAT burden on basic groceries, making essential foods more affordable for consumers. The article discusses the political momentum behind the initiative, the fiscal cost of the proposed reduction, and the EU VAT Directive framework that permits member states to apply reduced rates to food products. It also considers potential implementation challenges and compares Austria's approach to similar measures adopted by other EU member states.
37 ways Andy Burnham could raise £4.7bn
This article explores 37 potential tax-raising measures Andy Burnham, Mayor of Greater Manchester, could implement to generate £4.7 billion in revenue. The piece examines various fiscal options available at regional and national levels, covering a broad range of tax mechanisms including property taxes, income levies, and other revenue-raising tools. The analysis appears to assess the political and practical feasibility of different approaches, situating Burnham's potential fiscal agenda within the broader UK debate about devolution, local government funding, and taxation powers available to metro mayors and regional authorities.
Refunds of UK VAT for non-UK businesses (VAT Notice 723A)
UK HMRC guidance (VAT Notice 723A) covering the process by which non-UK businesses can reclaim UK VAT they have incurred, and reciprocally how UK businesses may reclaim VAT paid in EU member states. The notice details eligibility criteria, claim procedures, deadlines, and documentation requirements. It is particularly relevant post-Brexit, as the rules diverge from the former EU refund mechanism. Non-established businesses must navigate separate UK and EU processes, making compliance more complex. This is practical operational guidance for multinationals and overseas traders incurring irrecoverable VAT in the UK or EU jurisdictions.
Guidance: Internal temporary storage facilities (ITSFs) codes for Data Element 5/23 of the Customs Declaration Service
HMRC guidance providing Internal Temporary Storage Facilities (ITSFs) location codes required for Data Element 5/23 when completing import declarations on the UK Customs Declaration Service (CDS). ITSFs are approved locations where non-UK goods may be held temporarily after arrival and before customs clearance. Accurate use of these codes is mandatory for compliant customs declarations. The guidance is a technical reference for importers, freight forwarders, and customs agents operating within the UK's post-Brexit customs framework, ensuring goods are correctly identified as being in temporary storage pending formal entry.
Customs Declaration Service: service availability and issues
HMRC operational status page for the UK Customs Declaration Service (CDS), providing real-time and historical information on system availability, planned maintenance windows, and known technical issues. CDS is the UK's primary platform for submitting import and export customs declarations, replacing the legacy CHIEF system. While primarily a technical availability notice rather than substantive tax law, it is directly relevant to traders, agents, and brokers who rely on CDS for customs compliance and duty payment obligations under UK trade rules.
Fiscal Requirements Updates and Changes in Fiscalization Systems Across Europe – Belgium
This article covers updates and changes to fiscalization systems in Belgium, detailing regulatory requirements for electronic fiscal devices, cash register obligations, and compliance frameworks. Belgium has specific fiscalization rules for the hospitality sector and other industries requiring certified point-of-sale systems linked to fiscal data modules. The article likely addresses recent amendments to these technical and legal requirements, including reporting obligations to tax authorities. Fiscalization systems in Belgium intersect with VAT compliance, as they ensure accurate real-time recording and reporting of taxable transactions, reducing fraud and improving tax collection efficiency for the Belgian tax administration.
Global VAT Management Challenges and Rising Compliance Costs Across International Markets
This article examines the growing challenges businesses face in managing VAT compliance across multiple international jurisdictions. It highlights rising compliance costs driven by increasingly complex and fragmented VAT rules, frequent regulatory changes, and the administrative burden of multi-country filing obligations. Issues covered likely include cross-border transaction complexity, digital reporting mandates, e-invoicing requirements, and the cost of maintaining compliant systems globally. The article reflects broader trends in indirect tax management, where multinational businesses must invest significantly in technology, expertise, and processes to keep pace with diverse and evolving VAT regimes worldwide.
EU Budget Tax Proposals and New Revenue Mechanisms for the 2028–2034 EU Budget
This article discusses the European Union's tax proposals aimed at generating new revenue streams for the 2028–2034 multiannual financial framework. The EU is exploring own-resource mechanisms including potential new levies, digital taxes, carbon border adjustment contributions, and reforms to existing VAT-based own resources. These proposals reflect the EU's ambition to reduce reliance on member state GNI contributions while funding green and digital priorities. The article covers policy debates among member states and EU institutions over the design, fairness, and implementation of these new fiscal instruments within the next long-term EU budget cycle.
Employment Income Manual
HMRC's Employment Income Manual is a comprehensive internal guidance resource covering the taxation of employment income in the UK. It addresses the rules for taxing salaries, benefits in kind, expenses, termination payments, share schemes, and other remuneration received by employees. The manual guides HMRC officers and is publicly available as a reference for employers, payroll professionals, and advisers. It covers personal income tax and payroll withholding obligations under PAYE, making it a key compliance reference for employment-related tax matters in the UK.
EU VAT Registration for US Sellers: Country Guide 2026
A practical country-by-country guide for US sellers navigating EU VAT registration requirements in 2026. The article covers the VAT obligations that arise when US-based businesses sell goods or services into EU member states, including registration thresholds, distance selling rules, and the One Stop Shop (OSS) scheme. It addresses key compliance considerations such as local fiscal representation requirements, VAT return filing frequencies, and country-specific rules across major EU markets. The guide aims to help US e-commerce sellers and service providers understand where and how to register for VAT to remain compliant when trading into Europe.
Register Now: Taxand Asia Webinar: Interest-Free Loans: Current Positions and Evolving Treatment Under TP Rules
Taxand Asia is hosting a webinar focused on interest-free loans and their treatment under transfer pricing rules. The session will cover current positions across Asian jurisdictions and the evolving regulatory landscape governing intercompany financing arrangements. Interest-free loans between related parties are a key transfer pricing concern, as tax authorities increasingly scrutinize whether such arrangements reflect arm's length terms. The webinar aims to provide practitioners and multinational businesses with updated guidance on how different countries in the Asia-Pacific region are approaching this issue, including recent developments in local TP regulations and administrative practices affecting intercompany loan structures.
Spain VAT Guide 2026: Key Updates and Compliance Overview
This article provides a comprehensive guide to Spain's VAT system in 2026, covering key legislative updates, rate structures, compliance obligations, and notable changes affecting businesses operating in Spain. Topics likely include the Immediate Supply of Information (SII) e-invoicing system, applicable VAT rates across different goods and services, registration requirements for foreign businesses, reverse charge mechanisms, and recent amendments to Spanish VAT law. The guide serves as a practical compliance reference for domestic and international businesses navigating Spain's detailed VAT framework, including updates stemming from EU VAT Directives transposed into Spanish national legislation.
New VAT Rules Expected to Save Businesses €81 Million Annually
This article reports on new VAT rules projected to deliver €81 million in annual savings for businesses. The measures likely relate to simplification initiatives, reduced administrative burdens, threshold adjustments, or streamlined compliance procedures under updated VAT legislation. Such reforms could include small business exemption expansions, simplified invoicing rules, or reduced filing frequency obligations. The article highlights the tangible economic benefit of VAT reform efforts, positioning the changes as pro-business regulatory improvements that reduce the cost of compliance while maintaining revenue integrity for tax authorities. The jurisdiction and specific legislative context would determine the precise scope of these savings.
MDDP Webinar: B2B Reclassification into Employment: Dispute, Penalties and Tax Impact (VAT & Personal) (July 15)
MDDP is hosting a webinar on July 15 examining the tax consequences of reclassifying B2B contractor relationships as employment arrangements. The session will cover dispute resolution processes, potential penalties, and the dual tax impact spanning both VAT and personal income tax. This is particularly relevant for businesses and contractors in Poland facing increased scrutiny from tax authorities over the genuine nature of self-employment arrangements. Attendees will gain insight into audit risks, how to defend existing structures, and the financial exposure arising from reclassification decisions by tax authorities.
India’s Top 10 States by GST Collections in FY26
An analysis of India's GST collections across its top ten states for fiscal year 2026 reveals regional disparities in indirect tax revenue generation. The data highlights which states are driving the majority of GST receipts, reflecting economic activity, industrial concentration, and compliance levels. Maharashtra, Karnataka, and Gujarat typically dominate collections. The breakdown provides useful context for assessing India's overall GST performance, fiscal federalism dynamics, and the distribution of tax revenues between the central and state governments under the dual GST structure introduced in 2017.
GST Celebrated as a Landmark Reform in India’s Indirect Tax System
India marks a significant milestone celebrating GST as a transformative reform in its indirect tax landscape since its introduction in July 2017. The unified tax replaced a fragmented multi-layered system of central and state levies, streamlining compliance and broadening the tax base. Commentators highlight improvements in revenue buoyancy, reduced cascading effects, and enhanced formalization of the economy. Despite ongoing challenges around rate rationalization and compliance burdens for small businesses, GST is broadly recognized as a landmark structural shift that modernized India's indirect taxation framework and improved economic integration across states.
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