Tuesday, April 07, 2026
Austria has updated the lists of participating and reportable jurisdictions for the automatic exchange of financial account information under the Common Reporting Standard (CRS), as published in the Federal Law Gazette (BGBl. II 64/2026) on 20 March 2026. The regulation, adopted by the Federal Minister of Finance, revises the list of participating states under the...
Ukraine’s Cabinet of Ministers approved three draft laws on 30 March 2026, introducing significant tax reforms. These changes aim to bring shadow economy activities into the formal sector, create fair competition, and generate revenue for post-war reconstruction while aligning with EU and OECD standards. Digital platform reporting and information exchange (DAC7) Starting 1 January 2027,...
The European Parliament announced on 26 March 2026 that its members endorsed their position on two proposals covering tariff arrangements under the EU-US Turnberry trade deal. The agreement, reached in summer 2025, aims to remove most tariffs on American industrial products while granting preferential access for US seafood and agricultural goods, reflecting commitments made in...
The Australia-European Union Free Trade Agreement (A-EU FTA) creates substantial new export opportunities for Australian businesses in a market of 450 million consumers. Once implemented, 97.8% of Australian goods will enter the EU duty-free, with economic modelling estimating the agreement could boost Australia’s real GDP by up to AUD 7.8 billion by 2030. Major wins...
Brazil’s tax authority, the Federal Revenue Service (RFB), has announced on 26 March 2026 that individual micro-entrepreneurs (MEI), micro-enterprises (ME), and small businesses (EPP) may face potential removal from the Simples Nacional tax regime due to outstanding debts. Between 20 March and 23 March, exclusion notices and pending issues reports were released through the Electronic...
Brazil’s tax authority, the Federal Revenue Service (RFB), has introduced three comprehensive regulatory instructions on 27 March 2026, implementing compliance programmes under Complementary Law No. 225/2026, the Taxpayer Defence Code. Sintonia: Nationwide compliance classification Normative Instruction 2,316/2026 establishes Sintonia, Brazil’s largest compliance programme, which evaluates taxpayers across 26 indicators in four domains: registration, declarations, consistency,...
Starting 1 July 2026, new customs regulations will eliminate duty exemptions for goods imported into the European Union in shipments valued up to EUR 150. The Official Journal of the EU published Council Regulation (EU) 2026/382, dated 11 February 2026, which modifies Regulation (EC) No 1186/2009 concerning the EU’s customs duty relief system. For the...
Italy’s Revenue Agency announced, through Response No. 84 on 25 March 2026, that Italian tax residents who receive only income from foreign trusts without any ownership rights to the underlying assets are not required to pay IVAFE (Italy’s VAT on financial assets held abroad). The ruling addresses a US citizen living in Italy who benefits...
The European Parliament’s Economic and Monetary Affairs Committee examined a proposal to grant the European Public Prosecutor’s Office (EPPO) and the European Anti-Fraud Office (OLAF) enhanced access to VAT information across the EU. The initiative seeks to strengthen efforts to combat cross-border VAT fraud, which continues to drain substantial public revenues. This proposal sets up...
The Indian government has announced, on 27 March 2026, a reduction in excise duty on petrol and diesel for domestic consumption, citing rising global oil prices amid the rising hostilities in the Middle East. The move aims to shield consumers from further price increases. Under the new measures, the special excise duty on petrol has...