Friday, October 09, 2026
The Italian Revenue Agency has issued a release on 14 September 2026 regarding a recent decision by the Italian Supreme Court of Cassation (Ordinance No. 24863/2026) concerning the correction of VAT reporting errors. The ruling confirms that taxpayers may file an amended VAT return to correct mistakes, even after receiving a formal deficiency notice from...
Italy’s Revenue Agency confirmed on 11 September 2026 that a foundation can merge with a simple agricultural partnership while avoiding capital gains tax, VAT, and most other direct taxes. The ruling, contained in response no. 171, applies to transactions where the transferred assets remain outside the foundation’s commercial activities. How the merger worked A foundation...
The Netherlands government has issued Letter No. 2026-0000288216 of 11 September 2026, detailing the strategic implementation framework for electronic invoicing (e-invoicing) and digital reporting in the Netherlands. This policy transposes Council Directive (EU) 2025/516 under the EU’s VAT in the Digital Age (ViDA) package into national tax legislation. To combat tax fraud and modernise the...
China’s Ministry of Finance, the State Taxation Administration, and the China Securities Regulatory Commission released Announcement No. 26 on 28 August 2026 to establish uniform rules for taxing the sale of restricted shares by individual shareholders of listed companies. New tax rate and scope The authorities set the individual income tax rate at 20% on...
The Belgian Minister of Finance has submitted draft legislative bill DOC 56 1718/001 to the Parliament on 10 September 2026. This bill partially transposes EU Directive 2025/516 (adopted on 11 March 2025), which forms a core element of the European Union’s VAT in the Digital Age (ViDA) framework. While the overall ViDA framework rests on...
The Czech Republic’s Ministry of Finance and the Chamber of Deputies have approved the Sales Registration Act on 9 September 2026 after overriding the Senate’s proposed amendments. The legislation has been submitted to the president for signature on 11 September 2026. The key aspect of this legislative proposal is the reintroduction of electronic sales records...
The Australian Senate passed the Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026 on 10 September 2026, a legislative proposal from the Australian Parliament designed to increase oversight within the financial and tax sectors. The bill proposes enhancements to the foreign resident capital gains tax regime and implements critical...
The Italian Revenue Agency clarified, on 10 September 2026, that companies managing digital registers for blockchain-based financial instruments cannot operate as traditional banks under tax law. In response to question no. 170/2026, the Agency ruled that these managers lack authority to collect investor certifications, communicate with tax authorities, or file required tax forms. The regulatory...
The European Commission, on 11 September 2026, shelved its proposal for a 15% export duty on aluminium scrap. The measure was set for announcement on 23 September 2026 but was dropped following pressure from India, which imports roughly one third of the EU’s scrap shipments. India raised objections to the plan during trade negotiations. The...
Peru’s Ministry of Foreign Affairs, in a release, confirmed that officials from Peru and Spain met on 8 September 2026 for their 11th Political Consultations and reaffirmed the need to conclude negotiations and sign a new income tax treaty. The talks formed part of continued high-level dialogue under the two countries’ Reinforced Strategic Partnership, established...