Hungary enacts 2026 autumn tax reforms, additional measures
Hungary has enacted several significant tax measures through legislative acts to reduce administrative burdens, promote business investment, and align domestic rules with EU directives. The measures are scheduled to take effect in 2026 unless
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Israel: Cabinet approves 2026 state budget amid controversy
The Israeli cabinet approved the 2026 state budget on 5 December 2025 after prolonged negotiations and internal disputes over allocations. The key tax measures and policy changes are as follows: Corporate and Banking Taxes New measures
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Italy: Revenue Agency confirms VAT exemption for turnkey modular homes
The Italian Revenue Agency has clarified, on 5 December 2025, that fully finished modular homes, ready to be lived in and complete with utilities and finishes, are considered real estate and are generally exempt from VAT. VAT applies only if the
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Uruguay introduces temporary VAT relief for select tourism services
Uruguay issued Decree No. 220/025 on 30 October 2025, introducing a temporary exemption from value added tax (VAT) for specific tourism-related services aimed at non-resident visitors. The measure applies to payments made with foreign-issued debit
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Portugal: Parliament approves 2026 budget, lowers corporate tax rates
Portugal’s parliament has approved the new 2026 Budget Bill on 27 November 2025. The Bill will proceed to presidential promulgation, followed by the formal publication of the law. The main tax measures of the 2026 Budget Bill are the reduced
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Sweden plans temporary VAT cut on food to ease costs
Sweden’s Ministry of Finance released a draft proposal to lower the VAT on food from 12% to 6% for a limited period. This announcement was made on 25 November 2025. The measure aims to make grocery bills more affordable for all households,
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Angola: National Assembly approves 2026 budget, proposes several tax law modifications
Angola’s parliament has approved the General State Budget for 2026 on 19 November 2025, introducing amendments to several tax laws. The key amendments are: Corporate Tax Reforms Electronic filing mandate: General and simplified regime
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Ghana: MoF presents 2026 budget, proposes VAT reforms
Ghana's Ministry of Finance has presented the 2026 Budget Speech to parliament on 13 November 2025, introducing various tax measures, including VAT reforms. The key tax measures are as follows: VAT reforms Ghana's government is proposing
See MoreHungary: Parliament adopts revised global minimum tax, reporting regulations
Hungary’s parliament approved two bills (T/12802/7 and T/12801/12) on 18 November 2025 that introduce significant updates to the country's tax framework and reporting obligations. Among the key changes, the legislation revises Hungary’s
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Uruguay: Economy, Tourism Ministries reintroduce VAT cut for foreign tourists
The Ministry of Economy and Finance and the Ministry of Tourism issued a joint decree on 23 October 2025, announcing the reintroduction of a significant tax benefit for foreign tourists. The measure provides for a reduction of the Value Added Tax
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France: Tax Authority clarifies VAT rate on biocontrol macro-organisms
RF Report The French tax authorities issued a rescript BOI-RES-TVA-000227 on 29 October 2025, clarifying the value-added tax (VAT) treatment for pollinating macro-organisms used in organic farming, gardens, green spaces, and public
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Latvia: Government approves 2026 budget
The 2026 budget aims to boost revenue through excise taxes while easing living costs via a temporary VAT reduction on essential foods from July 2026. Latvia’s government has approved the 2026 state budget measures on 14 October 2025 and the
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Latvia: Finance minister outlines key priorities in 2026 draft budget, initiates discussions with social partners
The 2026 budget proposes diversifying revenue sources through higher gambling and excise taxes, while supporting investment and easing living costs with tax law amendments and a temporary VAT cut on basic foods starting July 2026. Latvia's
See MoreSweden: Government proposes simplified business and capital taxation in 2026 budget
The proposed tax measures include business tax credits and simplified forestry and shipping rules, temporary VAT cuts and fraud controls, changes to excise taxes on alcohol and tobacco, permanent tax-free EV workplace charging, and reduced energy
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Finland: Government presents 2026 budget to parliament, proposes reduced corporate taxes
The 2026 budget proposal lowers corporate and CO2 fuel taxes while tightening crypto reporting, adjusting VAT, and raising taxes on vehicles, tobacco, alcohol, and soft drinks. Finland’s government has presented the 2026 budget proposal (HE
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Romania gazettes revised VAT reporting requirement
Order No. 2194/2025 has been issued approving the revised format of Romania’s Statement 394 for reporting goods, services, and acquisitions. Romania has published Order No. 2194/2025 in Official Gazette No. 852 of 17 September 2025. This
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Paraguay introduces tax incentives for electronics manufacturing, digital equipment
Paraguay’s Law No. 7546/2025 boosted investment and jobs in electronics and digital equipment. Paraguay has enacted Law No. 7546/2025, published on 8 September 2025 and effective from 9 September 2025, to promote investment and formal
See MoreSweden: Government considers reducing VAT on dance events in 2026 budget
The government plans to reduce the VAT rate for admission to dance events to 6% from the existing 25%. The Swedish government, in a press release on 13 September 2025, announced plans to lower the VAT rate for dance events as part of its 2026
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