Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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Bloomberg: California Film Tax Credit Demand Rises Under Expanded Program
Demand for California's film tax credit program has risen following its expansion. The program offers production companies tax incentives to film in California, aiming to retain and attract entertainment industry jobs and spending within the state. The expanded program has seen increased applications, reflecting growing interest from filmmakers seeking to offset production costs through state-level credits. This highlights the ongoing use of targeted tax incentives as an economic development tool at the state level, with California competing against other states and jurisdictions that offer similar film production tax credit schemes.
Challenging your business rates valuation
UK government guidance on challenging business rates valuations covers the formal process for disputing rateable values assigned to non-domestic properties in England. Business rates are a property-based tax levied on occupiers of commercial premises, calculated using the rateable value set by the Valuation Office Agency. The guidance outlines the Check, Challenge, Appeal process, deadlines, and evidence requirements for ratepayers who believe their valuation is incorrect. Successful challenges can reduce tax liability, making this directly relevant to UK businesses managing their property tax obligations.
Sumario de Legislación Tributaria de América Latina 2025 [Versión actualizada]
CIAT has published an updated 2025 summary of tax legislation across Latin America, providing a comprehensive overview of the tax systems and regulatory frameworks in the region. The publication covers key tax rules and legislative developments across Latin American countries, serving as a reference tool for tax professionals, policymakers, and researchers tracking fiscal developments in the region. It consolidates information on various tax categories including income taxes, VAT, and other fiscal measures, offering a comparative view of how different Latin American jurisdictions structure and administer their tax obligations.
Handling wholesale or retail vaping products in the UK
UK government guidance on handling wholesale or retail vaping products sets out compliance obligations for businesses in the vaping supply chain ahead of the introduction of Vaping Products Duty. It covers registration requirements, record-keeping, fiscal marking via duty stamps, and movement procedures for vaping goods. Businesses must register with HMRC and adhere to strict controls to legally handle these products. This is directly relevant to excise duty compliance for UK vaping product traders operating at wholesale or retail level.
Guidance: Preparing for Vaping Products Duty and the Vaping Duty Stamps Scheme
HMRC guidance on preparing for Vaping Products Duty and the Vaping Duty Stamps Scheme outlines the new UK excise duty regime applying to vaping liquids. The duty, announced at Spring Budget 2024, will be charged per millilitre of vaping liquid. The guidance covers registration timelines, the duty stamps scheme requiring physical fiscal marks on vaping products to indicate duty has been paid, and transitional arrangements. Businesses across the vaping supply chain — manufacturers, importers, and wholesalers — must prepare compliance systems ahead of the duty's introduction.
Harpaz Presents “The New Tax Sovereignty” at The Junior International Law Scholars Association Summer Workshop
Legal scholar Harpaz presented a paper titled 'The New Tax Sovereignty' at the Junior International Law Scholars Association Summer Workshop. The presentation explores evolving concepts of tax sovereignty in an international context, likely addressing how globalization, digital economies, and multilateral frameworks such as OECD Pillar Two are reshaping nations' autonomous taxing powers. The work contributes to academic discourse on how states assert and negotiate taxing rights amid cross-border economic activity, treaty obligations, and supranational tax coordination efforts that challenge traditional notions of fiscal sovereignty.
Madras HC: Council Has No Authority to Validate GST Notifications Issued Without Prior Approval
The Madras High Court has ruled that the GST Council does not have the authority to retrospectively validate notifications that were issued without its prior approval. The judgment challenges the procedural legitimacy of certain GST notifications, asserting that proper Council sanction is a prerequisite before such notifications can have legal force. This ruling has broad implications for the validity of past GST directives issued outside the mandated approval process and could prompt reviews of notifications challenged on similar procedural grounds across India.
KP asks Centre to defer tax exemption withdrawal in Malakand, merged districts
The Khyber Pakhtunkhwa (KP) provincial government has requested the federal government to defer the withdrawal of tax exemptions in the Malakand division and newly merged tribal districts. These regions have historically benefited from special tax concessions to stimulate economic development in underprivileged areas. KP authorities argue that premature removal of these exemptions could undermine investment and economic activity in already fragile economies. The request reflects ongoing tensions between provincial priorities and federal revenue mobilization efforts, highlighting the broader challenge of balancing regional development incentives against Pakistan's need to broaden its tax base.
World Bank delegation briefed on PRA reform agenda
A World Bank delegation was briefed on the reform agenda of the Punjab Revenue Authority (PRA), Pakistan's provincial tax body responsible for services taxation. The briefing likely covered PRA's modernization initiatives, compliance improvements, broadening of the tax base, and digital transformation efforts. The World Bank's engagement suggests potential technical or financial support for revenue administration reforms in Punjab. Such reform agendas typically encompass improvements to VAT/GST on services, taxpayer registration, audit capabilities, and technology-driven enforcement, underlining international interest in strengthening subnational tax administration in Pakistan.
Guidance: Joint and several liability — repeated insolvency and non-payment — JAS/FS2
HMRC guidance on joint and several liability notices for repeated insolvency and non-payment (JAS/FS2). This measure allows HMRC to hold directors and other persons connected to companies with a history of tax avoidance, evasion, or phoenixism jointly and severally liable for a company's tax debts. It targets individuals who repeatedly use insolvency to avoid paying tax liabilities, making them personally responsible for outstanding amounts owed to HMRC. The guidance outlines the conditions under which such notices can be issued and the rights of those affected.
Minutes – Group on the Future of VAT & VAT Expert Group Joint Meeting (25 June 2026)
The European Commission's Group on the Future of VAT and the VAT Expert Group held a joint meeting on June 25, 2026, with published minutes providing insight into EU-level VAT policy deliberations. These groups advise the Commission on VAT reform, simplification, and harmonisation across member states. Topics likely covered evolving challenges such as the digital economy, cross-border transactions, and VAT gap reduction. The meeting reflects ongoing EU efforts to modernise the VAT framework and align member state practices with broader economic and compliance objectives.
Commission calls on France to fully transpose the new EU VAT rules for the special SMEs scheme
The European Commission has formally called on France to fully transpose the updated EU VAT rules governing the special scheme for small and medium-sized enterprises. France has failed to implement the new SME VAT provisions within the required timeframe, risking infringement proceedings. The SME scheme, introduced as part of EU VAT modernisation, allows small businesses to benefit from simplified VAT obligations across member states. France's incomplete transposition creates regulatory uncertainty for SMEs operating cross-border and undermines the harmonised EU VAT framework.
Navigating the Tax Transparency Landscape
This Tax Foundation event focuses on navigating the evolving tax transparency landscape, likely covering developments such as public country-by-country reporting, beneficial ownership disclosure, global minimum tax reporting requirements, and other international transparency initiatives. Tax transparency has become a central theme in global tax policy, driven by OECD frameworks and regional mandates that require multinational enterprises to disclose more detailed financial and tax information across jurisdictions. The event provides a forum for professionals to understand compliance obligations and policy implications surrounding increased reporting demands on businesses operating internationally.
Colo. County's Mill Increases Unconstitutional, Court Told
A Colorado county is facing a legal challenge over mill levy increases alleged to be unconstitutional. The case centers on whether the county followed proper legal procedures when raising property tax mill rates, with challengers arguing the increases violate constitutional constraints on local taxation authority. The dispute highlights ongoing tensions between local government revenue needs and constitutional limitations on property tax rate-setting in Colorado, potentially affecting how counties across the state structure future mill levy adjustments and taxpayer protections.
Aussies Seek Input On 30% Min. Tax For Discretionary Trusts
Australian authorities are seeking public consultation on a proposed 30% minimum tax rate applicable to discretionary trusts. The measure aims to ensure that income distributed through discretionary trusts is subject to a floor tax rate, closing perceived loopholes where beneficiaries in lower tax brackets receive trust distributions at reduced effective rates. The proposal reflects broader concerns about tax equity and the use of trusts as income-splitting vehicles. Stakeholder input is being gathered to refine the design of the minimum tax before any formal legislative introduction.
Poland’s Windfall Profits Tax: Short-Term Fiscal Gains for Long-Term Economic Costs
This Tax Foundation analysis examines Poland's windfall profits tax, assessing its short-term fiscal benefits against longer-term economic drawbacks. Windfall taxes targeting excess profits—often in energy or financial sectors—can generate immediate government revenue but may deter future investment, distort market signals, and create uncertainty for businesses. The piece likely critiques the design and economic consequences of such levies, arguing that while politically appealing, windfall profit taxes carry significant costs to capital allocation and economic efficiency, and may undermine Poland's broader competitiveness and energy sector development over time.
Canada Trustco Mortgage Co. v. Canada: The Supreme Court’s Foundational GAAR Decision and Its Three-Step Test
This article examines the landmark Supreme Court of Canada decision in Canada Trustco Mortgage Co. v. Canada, which established the foundational framework for applying the General Anti-Avoidance Rule (GAAR). The case introduced a three-step test requiring analysis of whether a tax benefit exists, whether a transaction constitutes an avoidance transaction, and whether that transaction results in a misuse or abuse of the Income Tax Act. The decision remains central to Canadian tax law, shaping how courts and the Canada Revenue Agency assess aggressive tax planning arrangements and defining the boundaries between legitimate tax minimization and abusive tax avoidance.
Official Statistics: Preliminary estimate of the VAT gap (tax year 2024 to 2025)
The UK government has released a preliminary estimate of the VAT gap for tax year 2024 to 2025, measuring the difference between expected VAT revenues and amounts actually collected. The VAT gap is a key compliance metric used by HMRC to assess the effectiveness of VAT enforcement and identify areas of non-compliance, evasion, and avoidance. This official statistics release provides early insight into the scale of uncollected VAT in the UK economy and informs future policy and enforcement priorities for HMRC.
Deregulation 2.0 — Poland Proposes Faster VAT Verification Procedures
Poland is proposing regulatory reforms under its 'Deregulation 2.0' initiative, including measures to accelerate VAT verification procedures. The proposed changes aim to streamline and speed up the process by which tax authorities verify VAT registrations and taxpayer status, reducing administrative burdens on businesses. Faster VAT verification would improve cash flow and reduce compliance friction for companies operating in Poland. The proposal reflects broader efforts to modernize Poland's tax administration and make the country a more business-friendly environment. The reforms are still at the proposal stage and subject to legislative approval.
Denmark Plans to Abolish VAT on Books — Zero Rate Proposed from 2027
Denmark is proposing to introduce a zero VAT rate on books, with the measure planned to take effect from 2027. The proposal would eliminate the current VAT charge on books, making them more affordable for consumers and aligning Denmark with several other EU member states that already apply reduced or zero VAT rates on publications. The move is framed as a cultural and educational policy initiative. The proposal requires legislative approval and must be compatible with EU VAT Directive rules permitting zero rates on certain supplies. If enacted, it would represent a meaningful change to Denmark's VAT rate structure.
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