Sunday, May 17, 2026
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...
Cambodia’s Ministry of Economy and Finance (MEF) has announced a reduction in the Value Added Tax (VAT) rate on petroleum products, specifically regular gasoline and diesel, in a move aimed at easing the impact of rising international fuel prices and supporting the living standards of Cambodian citizens. Under the measure, the VAT rate on the...
Lithuania’s State Tax Inspectorate (VMI) published on 24 March 2026 draft amendments to the rules on reporting information about reportable crypto-asset users, aligning with the Amending Directive to the 2011 Directive on Administrative Cooperation (2023/2226) (DAC8). The amendments include: Updated definitions: Existing individual crypto-asset user – a physical person who established a relationship with a...
Germany’s Ministry of Finance has published a draft bill on 24 March 2026 for the ratification of the 2024 Addendum to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS MCAA). The addendum incorporates the 2023 amendments to the Common Reporting Standard (CRS), extending the scope of automatic information exchange to...