Ireland: Fiscal Council warns budget surplus masks structural deficit
Ireland’s Fiscal Advisory Council has warned that Ireland’s apparent budget surplus is heavily reliant on volatile corporation tax receipts from a small number of large multinational companies, raising concerns over the sustainability of public
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Estonia: Finance Minister urges EU flexibility on minimum tax
Estonia has called for a more flexible approach to implementing the EU’s Pillar 2 global minimum tax, citing the complexity of the rules and the administrative burden they impose. In a letter to European Commission President Ursula von der
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Italy: Revenue Agency restricts DTA tax credits for assignees to monetisation
Italy’s Revenue Agency clarified on 4 December 2025 that companies acquiring tax credits arising from the conversion of Deferred Tax Assets (DTA) cannot use these credits to offset or transfer them further and can only monetise them through
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Italy: Revenue Agency updated VAT exemption for SMEs across EU borders
Italy’s Revenue Agency has introduced an important update to the VAT exemption scheme for small businesses operating across EU borders on 4 December 2025. Under the revised rules, the 35-working-day period for assigning the “EX”
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Finland enacts DAC8 crypto-asset reporting
Finland has gazetted Law 1044/2025 of 28 November 2025 on 1 December 2025 to implement EU Directive 2023/2226 (DAC8) of 17 October 2023, introducing new reporting and due diligence requirements for crypto-asset service providers. Approved by the
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Ireland: Irish Revenue updates guidance on unapproved share option schemes
Irish Revenue has released eBrief No. 221/25 on 26 November 2025, outlining revisions to its guidance on the tax treatment of “unapproved share option schemes.” These schemes involve situations where a company grants an employee or director the
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Italy: Revenue Agency sets banking foundations tax credit for 2025
Italy’s Revenue Agency has announced that banking foundations will receive a tax credit of 18.1982% for 2025 through the provision of 3 December 2025. The rate was calculated based on the ratio of available resources, equal to EUR 10 million,
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Belgium: SPF Finances introduces a three-month grace period for e-invoicing from January 2026
Belgium’s tax authority (SPF Finances) announced on 2 December 2025 that businesses subject to VAT will have a 3-month grace period to comply with the new electronic invoicing requirement. This rule, which officially takes effect on 1 January
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Bulgaria: Government withdraws 2026 draft budget law amid protests
Bulgaria’s government announced the withdrawal of its proposed 2026 State Budget, along with the draft Social Security and National Health Insurance budgets, after widespread protests against planned tax and social contribution increases on 2
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Lithuania: VMI updates guidance on input VAT deduction
Lithuania’s State Tax Inspectorate (VMI) has issued an updated commentary on the right to deduct input value added tax (VAT) under Article 57 of the Law on VAT, published on 28 November 2025. The revised guidance clarifies which taxpayers are
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Ireland: Irish Revenue updates guidance on anti-hybrid rules for partnerships
The Irish Revenue has issued eBrief No. 223/25, on 27 November 2025, on the country’s anti-hybrid rules, reflecting changes to the application of the associated enterprises test for partnerships. Tax and Duty Manual Part 35C-00-01 has been
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Ireland: Irish Revenue revises guidance on tax treatment of debt issuance costs, covering interest cap fees
Irish Revenue has issued eBrief No. 217/25 on 25 November 2025, updating the Tax and Duty Manual (TDM) Part 04-06-21 on the tax treatment of debt issuance costs, including interest cap fees. The update incorporates guidance on interest cap fees,
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Hungary consults overhaul of transfer pricing documentation rules
Hungary’s Ministry of National Economy announced, on 2 December 2025, that it is inviting feedback on a proposed overhaul of its transfer pricing documentation rules. The revision aims to clarify reporting requirements, expand the information
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Poland gazettes extended withholding tax exemption for foreign investment and pension funds law
Poland published the Act of 6 November 2025 amending the Corporate Income Tax Act in the Official Gazette on 28 November 2025. The Act aligns Polish tax rules with European Court of Justice rulings on the taxation of investment and pension
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Slovak Republic: Government announces tax amnesty from January 2026
The Slovak Republic government has announced a new tax amnesty program on 1 December 2025, which is set to take effect in January 2026, offering taxpayers the opportunity to settle outstanding debts without paying penalties or interest. The
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Poland gazettes law raising corporate income tax rate for banks
Poland has published the “Act of 6 November 2025 amending the Corporate Income Tax Act and the Act on the Tax on Certain Financial Institutions”, in the Official Gazette on 28 November 2025, raising the corporate income tax rate for
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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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Germany, Switzerland tax treaty amending protocol comes into effect
The Swiss State Secretariat for International Finance announced that the protocol amending the 1971 income and capital tax treaty with Germany came into force on 27 November 2025. The protocol, signed on 21 August 2023, updates the treaty to
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