Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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Compliance checklists and templates
This UK government resource provides compliance checklists and templates for businesses handling goods at international events under customs relief provisions. The materials are designed to help importers, exporters, and customs agents ensure they meet HMRC requirements when claiming duty reliefs such as temporary admission. By following structured checklists, businesses can reduce the risk of non-compliance, avoid unexpected customs duty liabilities, and maintain proper documentation required for audit or enforcement purposes under the UK's Customs Declaration Service framework.
Exporting goods to other countries from the UK for international events
This UK government guidance explains the customs and tax procedures for exporting goods from the UK to other countries for international events such as trade fairs and exhibitions. It covers the use of ATA Carnets, temporary export reliefs, and customs declaration requirements to ensure goods can be re-imported without incurring additional duties. The guidance helps UK businesses understand their obligations under customs rules, avoid double taxation on goods temporarily abroad, and comply with both UK export requirements and the import rules of destination countries.
UK legislation
This UK government page outlines the domestic legislation underpinning customs and tax reliefs for goods used at international events. It references relevant UK law governing temporary admission, duty suspensions, and related customs procedures following Brexit. The page serves as a legislative reference for businesses and customs agents seeking to understand the statutory basis for claiming reliefs when importing or exporting goods for international events under the UK's post-EU customs framework administered through HMRC and the Customs Declaration Service.
Customs Import Duty reliefs
This UK government guidance specifically addresses customs import duty relief options available for goods brought into the UK for international events. It details eligibility criteria, application processes, and conditions for claiming relief from import duties, including temporary admission and other suspension regimes. This is directly relevant to businesses and event organizers seeking to reduce duty costs on event equipment and materials. Proper use of these reliefs can result in significant savings, making the guidance important for customs duty planning and compliance in the UK events sector.
Declarations and freight movements
This UK government guidance covers customs declarations and freight movement requirements for goods brought into the UK for international events. It addresses the procedural obligations for importers and freight handlers, including documentation, declaration types, and compliance with UK customs rules. The guidance is relevant to businesses and event organizers managing cross-border logistics, ensuring goods are properly declared upon entry and exit. It forms part of a broader framework for handling event-related imports and exports under UK customs law, with implications for duty liability and border compliance.
Roles and responsibilities
This UK government guidance defines the roles and responsibilities of various parties involved in importing and exporting goods for international events, including organizers, exhibitors, customs agents, and freight forwarders. While primarily procedural, it has a clear tax angle as it establishes who bears legal responsibility for customs compliance, duty payments, and accurate declarations. Understanding these roles is critical for determining liability for import duties and VAT on event goods entering the UK, making it relevant to customs and indirect tax practitioners.
Special procedures and reliefs for event goods
This UK government guidance outlines special customs procedures and relief schemes available for goods imported temporarily for international events held in the UK. It covers mechanisms such as temporary admission, ATA Carnets, and other duty suspension arrangements that allow event goods to enter without full import duty liability, provided conditions are met and goods are re-exported afterward. The guidance is directly relevant to event organizers, exhibitors, and freight forwarders seeking to minimize customs duty costs and administrative burdens when moving goods across UK borders for events.
Commodity-specific requirements
This UK government guidance addresses commodity-specific customs and regulatory requirements for goods brought into the UK for international events. It covers categories such as food, alcohol, animals, and other regulated items, detailing the additional licensing, certification, and duty considerations that apply. For tax purposes, different commodity classifications can attract varying duty rates and VAT treatments, making this guidance relevant to event organizers and importers needing to navigate the intersection of customs tariff classification and sector-specific import controls.
Introducing the 2026 Portuguese VAT Guide
A 2026 Portuguese VAT Guide has been introduced, providing comprehensive guidance on VAT compliance requirements in Portugal. The guide covers key aspects of the Portuguese VAT system, including registration obligations, filing requirements, applicable rates, and compliance procedures for businesses operating in or trading with Portugal. It serves as a practical resource for companies navigating Portugal's VAT framework, addressing updates and regulatory changes relevant for 2026. The guide is aimed at helping businesses and tax professionals ensure full compliance with Portuguese VAT legislation and avoid potential penalties.
Non-Resident Tax Status Requires Careful Planning
This article addresses the tax planning considerations required for South Africans seeking non-resident tax status. It likely covers the criteria SARS uses to determine tax residency, the steps individuals must take to formally cease South African tax residency, and the implications for ongoing tax obligations. Careful planning is essential to avoid unintended tax liabilities, particularly around exit taxes, foreign income, and compliance with SARS requirements. The article underscores that non-resident status is not automatic and requires deliberate structuring and documentation to be recognised by South African tax authorities.
Why Starting a Tax-Free Savings Account Early Matters
This article highlights the benefits of starting a Tax-Free Savings Account (TFSA) early in South Africa. TFSAs allow individuals to invest up to an annual limit without paying tax on interest, dividends, or capital gains earned within the account. The compounding effect over time makes early contributions particularly advantageous. The article likely outlines the contribution limits, eligible investment types, and the long-term wealth-building potential of TFSAs, encouraging South Africans to maximise this tax-efficient savings vehicle as part of their broader personal financial and retirement planning strategy.
Non-Resident Claims Face Increased SARS Scrutiny
This article reports on increased scrutiny by SARS (South African Revenue Service) of non-resident tax claims. As more South Africans emigrate or work abroad, SARS has intensified its examination of individuals claiming non-resident status to ensure compliance with residency rules. The article likely covers audit triggers, documentation requirements, and the risks of incorrectly claiming non-resident status. It serves as a warning to taxpayers and advisers that SARS is actively challenging questionable claims, with potential penalties and back-taxes for those who fail to meet the legal criteria for non-residency.
Guidance: Compliance checks: Corresponding with HMRC email — CC/FS72 DSC1
HMRC has published guidance (CC/FS72 DSC1) outlining the procedures and expectations for taxpayers and their representatives when corresponding with HMRC via email during compliance checks. The guidance covers consent requirements, security considerations, and the risks associated with email communication in a tax compliance context. It forms part of HMRC's broader compliance checks factsheet series, helping taxpayers understand their rights and obligations when engaging digitally with the UK tax authority during investigations or audits.
22% tax on ISA cash interest – HMRC closes the loophole
HMRC has moved to close a loophole that allowed certain ISA (Individual Savings Account) cash interest to be taxed at only 22%, rather than the standard rates applicable to savings income. ISAs are typically tax-free wrappers for UK savers, but a technical gap had enabled some cash interest to benefit from a reduced effective tax rate. HMRC's action targets this anomaly to ensure consistent treatment of savings income and protect tax revenues. The measure reinforces the integrity of the ISA regime while affecting savers who had been exploiting the discrepancy, with implications for personal tax planning strategies in the UK.
France: Guidance clarifies e-reporting obligations for foreign companies
France has issued guidance clarifying e-reporting obligations for foreign companies operating in the country. The guidance addresses how non-established businesses must comply with France's electronic reporting requirements, which form part of the broader French e-invoicing and e-reporting reform. Foreign companies supplying goods or services in France need to understand their specific obligations under this framework, including transaction reporting timelines and technical requirements. This development is significant for multinational businesses trading in France who must navigate compliance with the French tax authority's digital reporting infrastructure alongside domestic companies already subject to the mandate.
Peppol Confirmed as Core Interoperability Network for UK E-Invoicing Mandate
The UK government has confirmed Peppol as the core interoperability network for its forthcoming e-invoicing mandate. Peppol, the widely adopted international framework for electronic document exchange, will underpin the UK's e-invoicing infrastructure, ensuring standardised and secure transmission of invoice data between businesses and HMRC. This development signals a significant step in the UK's digital tax transformation agenda, aligning the country with global e-invoicing standards already adopted across Europe and beyond. Businesses operating in the UK will need to prepare their systems for Peppol-compatible e-invoicing compliance as the mandate progresses toward implementation.
Cement industry applauds FBR action against illegal cement factory
Pakistan's cement industry has expressed support for the Federal Board of Revenue's (FBR) enforcement action against an illegal cement factory. The action highlights ongoing efforts by tax and regulatory authorities to combat tax evasion and illicit manufacturing in the sector. Illegal factories typically evade duties, sales taxes, and other levies, creating an uneven playing field for compliant manufacturers. The industry's endorsement of FBR's crackdown reflects broader concerns about revenue leakage and unfair competition, underscoring the importance of tax compliance enforcement in Pakistan's manufacturing sector.
Pakistan implements revised income tax slabs from July 1, 2026
Pakistan has implemented revised income tax slabs effective July 1, 2026, marking a significant update to the country's personal income tax structure. The new slabs reflect adjustments aimed at broadening the tax base and revising rates across income brackets. This change is part of Pakistan's ongoing fiscal reforms to improve revenue collection and align the tax system with economic conditions. The revised structure impacts salaried and non-salaried individuals, with implications for withholding tax calculations by employers and overall compliance requirements for taxpayers across different income levels.
Aduanas en Latam: Cómo evitar multas de stock
This article addresses customs compliance in Latin America, focusing on how importers can avoid stock-related penalties from customs authorities. It likely covers proper inventory declaration, customs valuation rules, and regulatory requirements that, if not followed, can result in fines or sanctions. The customs and trade dimension is central, as Latin American customs agencies impose strict controls on inventory records for imported goods. Companies operating across multiple LatAm jurisdictions face complex cross-border compliance obligations, making accurate stock tracking essential to avoid customs penalties and ensure proper duty calculations.
Landed Cost: La Guía Definitiva para sus Importaciones ERP
This article provides a definitive guide to calculating landed cost within ERP systems for imports into Latin America. Landed cost encompasses all expenses incurred to bring goods to their destination, including customs duties, tariffs, freight, insurance, and handling fees. Accurate landed cost calculation is critical for customs valuation compliance and proper duty assessment. The article likely explores how ERP platforms can automate the allocation of these import-related costs, ensuring businesses correctly account for customs and trade obligations while maintaining accurate financial records for cross-border inventory management.
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