Tuesday, February 03, 2026
The European Commission issued formal notices to 12 Member States for not fully implementing Directive (EU) 2023/2226 (DAC8) on crypto-asset information exchange, and to 10 Member States for incomplete transposition of Directive (EU) 2025/872 (DAC9) on GloBE information returns in its January 2025 infringements package issued on 30 January 2026. Commission calls on Member States...
The New Zealand Government will present its 2026 Budget on 28 May 2026, outlining its financial intentions for the 2026–2027 fiscal year, Finance Minister Nicola Willis announced on 28 January 2026. “The focus of this year’s Budget will be on supporting the delivery of core public services – in particular, health care, education, defence, and...
The Canadian government released an updated guidance on the global minimum tax on 30 January 2026, outlining preparatory steps for filing. The guidance details filing templates, deadlines, and the required information for the GloBE Information Return (GIR), the Global Minimum Tax Return, and the GIR Notification. GloBE information return (GIR) Entities required to file a...
Latvia has significantly reshaped its transfer pricing compliance framework from 1 January 2026, following amendments to the Law “On Taxes and Fees” adopted at the end of 2025. The changes are designed to modernise reporting requirements, reduce administrative burdens for taxpayers, and enable the State Revenue Service (SRS) to carry out more targeted and efficient...
India’s Minister of Finance, Nirmala Sitharaman, delivered the Union Budget for 2026-27 on 1 February 2026. The proposals aim to relax tax rules for multinational companies, which are expected to bring greater certainty to cross-border transactions. The budget also includes reforms to the safe harbour regime, under which Indian tax authorities accept the arm’s-length pricing...
The US state of California is moving quickly to strengthen vehicle emissions standards and expand electric vehicle (EV) incentives, even as the Trump administration dismantles federal environmental protections. This week, state officials, including Lauren Sanchez, chair of the California Air Resources Board (CARB), are meeting with Detroit automakers in Detroit to discuss the next phase...
The Malta Tax and Customs Administration has issued an explanatory note on 26 January 2026, outlining the Value Added Tax (VAT) obligations for taxi operators using online ride-hailing platforms. The explanatory note clarifies VAT treatment for services provided through digital platforms, including the accounting of VAT on fares, service fees, and commissions charged by platforms....
Italy plans to align its levy on low-value packages with a EUR 3 EU duty, which will become effective on 1 July 2026, Economy Minister Giancarlo Giorgetti said on 29 January 2026. The move targets inexpensive e-commerce imports, especially from Chinese online retailers. Currently, Italy charges EUR 2 on parcels valued up to EUR 150,...
The Luxembourg Administration of Direct Tax has issued Circular L.G.-A No. 60bis/11 on 27 January 2026, providing the reference exchange rates of the euro for the year 2025. The rates, which include both year-end (31 December 2025) and annual average figures, are to be applied for various tax purposes. The Circular covers 30 foreign currencies,...
The OECD has released a statement on the Sixth OECD Global Forum on VAT, held from 26 to 28 January 2026 in Paris, France. The meeting brought together more than 300 representatives from 104 jurisdictions, international organisations, businesses, and other stakeholders to advance international dialogue on efficient, future-ready VAT systems in the context of digital...