Hungary proposes higher levies on big business, tax cuts for low earners in 2027 budget
Hungary’s government has presented a draft 2027 budget that pairs higher corporate and sectoral levies with tax relief for workers and families, Prime Minister Péter Magyar said in a speech before the agenda in Parliament on 19 October
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German diesel drivers receive only part of temporary fuel-tax cut
Germany’s diesel drivers are receiving only part of the temporary fuel-tax cut introduced by Chancellor Friedrich Merz’s government this month, according to an analysis by the Ifo Institute published on Thursday. The institute found that
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UN Tax Committee advances STTR updates, AI guidance for tax administrations
At the fifth meeting of its 33rd session, the United Nations (UN) Committee of Experts on International Cooperation in Tax Matters supported the consistent inclusion of the Subject-to-Tax Rule (STTR), where appropriate, throughout the Commentary to
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Italy weighs further tax increases on energy firms in 2027–2029 budget
Italy may raise taxes on energy companies to fund tax cuts and higher spending, sources close to the matter told Reuters on 23 October 2026. The plan would shape the government's budget for 2027 to 2029, due next week. The IRAP tax has already
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Bangladesh may introduce bill to split NBR into two divisions
Bangladesh’s government may introduce a bill in the next parliamentary session to split the National Board of Revenue (NBR) into two divisions, following the submission of recommendations by a nine-member committee headed by Prime Minister Tarique
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Germany seeks funding for electricity tax cuts
Germany’s federal government said on Friday, 16 October 2026, that it remains committed to cutting electricity taxes to the EU minimum, but only if the resulting budget shortfall is offset. A finance ministry spokesperson said the cut would
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Netherlands updates rules on retroactive effect for non-tax-free business contributions
The Netherlands has issued Decree No. 2026-18520, the Policy Decree Retroactive Effect for Non-Tax-Free Contribution 2026 (Beleidsbesluit terugwerkende kracht bij ruisende inbreng 2026), replacing the previous decree of 2008. It was issued on 14
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US: SSTGB approves voluntary disclosure programme for remote sellers
US Streamlined Sales Tax Governing Board (SSTGB) approved amendments to the Streamlined Sales and Use Tax Agreement (SSUTA) on 14 October 2026, establishing a new voluntary disclosure programme for qualified remote sellers. The SSTGB is a
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South Africa proposes SEZ transfer pricing reforms, corporate tax changes in Medium-Term Budget Policy
South Africa’s National Treasury has delivered the Medium-Term Budget Policy Statement (MTBPS) to Parliament on 21 October 2026. This package comprises three key amendment bills designed to implement the government's tax policy, monetary
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UK: HMRC publishes draft default values for carbon border adjustment mechanism
The UK HM Revenue & Customs (HMRC) has published a draft force of law notice setting default values for the UK carbon border adjustment mechanism (CBAM) on 16 October 2026. The default values let liable persons comply with CBAM when actual
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Lithuania: 2027 Budget prioritises national defence, social protection with no changes to tax rates
Lithuania’s government submitted the draft 2027 state budget to the Seimas on 16 October 2026, prioritising national defence, income growth and social protection while aiming to maintain sustainable public finances. The draft budget, designated
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Bulgaria proposes 33% windfall tax in 2027 draft budgetary plan
Bulgaria submitted its Draft Budgetary Plan for 2027 to the European Commission and the Eurogroup on 15 October 2026. Proposed tax measures include a 33% windfall profits tax for companies in certain sectors, personal income tax relief, mandatory
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Canada to table Budget 2026 on 5 November
Canada’s Finance Minister François-Philippe Champagne will table Budget 2026 on 5 November 2026. The Department of Finance Canada announced the date in a media advisory issued on 20 October 2026. This follows the Department of Finance's
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South Africa: SARS raises official interest rate for low-interest loans
The South African Revenue Service (SARS) has updated its Table 3, reducing the official interest rate used to tax interest-free or low-interest loans from 8.00% to 8.25%, effective 1 December 2025, with effect from 1 October 2026. The rate is
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Brazil extends fuel subsidies through new provisional measure
Brazil’s federal government has published Provisional Measure No. 1,395/2026 in the Official Gazette on 9 October 2026, extending fuel subsidy measures introduced earlier this year to contain rising gasoline and diesel prices amid geopolitical
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Germany clarifies mandatory B2B e-invoicing rules
Germany’s Federal Ministry of Finance (BMF) issued a supplementary letter on mandatory domestic business-to-business (B2B) e-invoicing on 15 October 2026. The letter amends the VAT Implementation Decree (Umsatzsteuer-Anwendungserlass, UStAE) and
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Cyprus unveils 2027 budget, outlines corporate tax changes and individual tax relief
Cyprus has presented its 2027 state budget and Medium-Term Fiscal Framework for 2027–2029 to the Parliamentary Committee on Finance and Budget on 12 October 2026. Finance Minister Makis Keravnos presented the budget, which was approved by the
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IMF: Re-thinking taxation for the AI era
On 14 October 2026, at the IMF annual meetings, a forum discussion looked at Rethinking taxation for the AI era. The panel consisted of Adrian Brown, the Founder and CEO at Windfall Trust; Ioana Marinescu, Professor at the University of Pennsylvania
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