Denmark proposes Pillar Two rules, sweeping tax changes for 2026–2027

GST Council approved enforcement reforms on 8 October 2026, raising the prosecution threshold, removing the power of arrest for GST offences and reducing the general penalty. The measures also aimed to simplify compliance procedures and improve taxpayer convenience, while leaving GST rates unchanged.

MoF has issued Ministerial Decision No. 168 of 2026, removing the pre-approval stage for e-invoicing service providers and introducing a direct accreditation process from 1 October 2026.

SIN repealed the fixed online invoicing implementation deadlines for four taxpayer groups following VAT amendments under Law No. 1733. The authority will periodically assign online invoicing modalities to taxpayers who have not yet implemented the system.

Uzbekistan launched the Tashkent International Financial Centre on 13 July 2026, granting qualifying firms a 50-year tax holiday on financial services income through 2076. Multinational groups earning over EUR 750 million annually remain subject to a qualified domestic minimum tax.

Italy’s Revenue Agency has updated procedures for closing inactive VAT accounts, introducing broader automated checks, advance taxpayer notifications, a 60-day objection period, and a new process for reactivating closed accounts.

The EU is considering a windfall profit tax on oil and gas firms to help citizens with soaring energy bills, as six member states push for action amid record corporate profits.