Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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Policy paper: Directions under section 43E of the Taxes Management Act 1970 and regulation 65A(5) and (6) of the Income Tax (Pay As You Earn) Regulations 2003 and Regulation 189 of the Income Tax (Pay As You Earn) Regulations 2003
HMRC has published a policy paper providing directions under section 43E of the Taxes Management Act 1970 and related PAYE regulations. The directions concern employer obligations under the Pay As You Earn system, specifically addressing reporting requirements and procedural rules for payroll administration. Regulations 65A(5), 65A(6), and 189 of the Income Tax (PAYE) Regulations 2003 govern how employers must handle real-time information submissions and related compliance matters. This technical guidance clarifies HMRC's formal directions to ensure employers meet their statutory payroll reporting obligations under UK tax law.
Government backs high street with acceleration of cheap import reforms and crackdown on dodgy online sellers
The UK government has announced plans to accelerate reforms targeting cheap imports and online marketplace sellers, addressing concerns about unfair competition with domestic high street retailers. Key measures include closing the de minimis customs threshold loophole that allows low-value imports to enter the UK without duties, and cracking down on non-compliant overseas sellers on online platforms. The reforms aim to level the playing field by ensuring overseas sellers collect and remit VAT and comply with product safety rules, with online marketplaces facing greater liability for seller compliance.
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.
Taxand Indirect Tax Insight Newsletter: Q2 2026 edition
Taxand's Q2 2026 Indirect Tax Insight Newsletter covers the latest developments in indirect taxation across multiple jurisdictions. The publication, produced by Taxand's global network of independent tax firms, typically addresses VAT and GST updates, regulatory changes, and compliance considerations affecting businesses internationally. As a quarterly indirect tax roundup, it provides practitioners and in-house tax professionals with insights on legislative changes, case law, and administrative guidance relevant to indirect tax planning and compliance across Taxand's member countries.
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.
Modernising the distributions framework
The UK government is consulting on modernising the distributions framework under company law, which governs how companies can lawfully make distributions to shareholders, including dividends. While primarily a corporate law reform, the consultation has direct implications for corporate tax planning, dividend taxation, and the interaction between distributable profits rules and accounting standards. Changes could affect personal income tax on dividends, corporate group structures, and financial reporting requirements. The review aims to clarify and update rules that have remained largely unchanged since the Companies Act 1980.
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).
Punjab govt to install surveillance cameras in marriage halls & restaurants to stop tax evasion
The Punjab government in Pakistan plans to install surveillance cameras in marriage halls and restaurants to curb tax evasion. The initiative aims to monitor transactions and ensure businesses accurately report revenue for tax purposes. By deploying cameras, authorities hope to cross-check declared sales against actual customer volumes, reducing underreporting of taxable income and sales. The measure reflects a broader effort to widen the tax net and improve compliance in sectors known for cash-heavy operations. This technology-driven enforcement approach signals Punjab's intent to leverage surveillance infrastructure as a tool for revenue collection and tax administration modernization.
VATupdate presents: Baltic Assist
VATupdate introduces Baltic Assist, a service or tool focused on VAT compliance support in the Baltic region. The platform appears to offer assistance with VAT-related matters for businesses operating in or dealing with Baltic states (Estonia, Latvia, Lithuania). This likely covers VAT registration, filing, and compliance guidance across the Baltic market, helping businesses navigate local VAT rules and obligations. The service targets companies needing specialist support in a region with its own distinct VAT regulatory environment and increasing digital reporting requirements.
Mid-Year Payroll Tax Account Checkup
A mid-year payroll tax account checkup article advising employers and payroll professionals to review their payroll tax obligations halfway through the year. Key areas likely include verifying federal and state withholding accuracy, reconciling payroll tax deposits, checking for any legislative changes affecting rates or thresholds, and ensuring compliance with filing deadlines. Mid-year reviews help identify discrepancies before year-end, reducing penalty exposure and avoiding costly corrections. The checkup also covers employee classification, fringe benefit taxation, and ensuring W-2 and 1099 preparation will be accurate, making it a practical compliance guide for US-based payroll administrators and tax practitioners.
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.
UK Procurement Act 2023: New Guidance on Electronic Invoicing & Payment Implied Terms
New guidance has been issued under the UK Procurement Act 2023 addressing electronic invoicing and implied payment terms for public sector procurement. The guidance clarifies obligations around e-invoicing in government contracting, including implied contractual terms related to payment timelines and electronic invoice processing. This update is relevant for suppliers to public sector bodies and contracting authorities, establishing clearer standards for digital invoice submission and payment compliance within UK public procurement frameworks.
Norway Enacts Mandatory B2B E-Invoicing and Digital Bookkeeping Law
Norway has enacted legislation making B2B e-invoicing and digital bookkeeping mandatory. The new law requires Norwegian businesses to adopt electronic invoicing for business-to-business transactions and comply with digital bookkeeping standards. This marks a significant regulatory shift, aligning Norway with broader European e-invoicing trends. The legislation aims to improve tax compliance, reduce fraud, and increase transparency in financial reporting. Businesses operating in Norway must now prepare to implement compliant e-invoicing systems and digital accounting practices to meet the new statutory requirements.
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