Italy: Council of Ministers approves legislative decree to enforce DAC8
Italy’s Council of Ministers announced that it has approved the Legislative Decree implementing the Amending Directive to the 2011 Directive on Administrative Cooperation (2023/2226)(DAC8) on 4 December 2025. The new provisions align with the
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Luxembourg: Parliament approves tax treaty protocol with Vietnam
The Luxembourg parliament ratified a protocol updating the 1996 income and capital tax treaty with Vietnam on 2 December 2025. The Chamber of Deputies approved the protocol on 20 November 2025, following earlier approval by the Council of State
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Latvia: Parliament adopts 2026 state budget
Latvia’s parliament (Saeima) has adopted the 2026 State Budget on 4 December 2025. The 2026 State Budget focuses on strengthening security, supporting families, and advancing sustainability, cutting EUR 844.1 million in planned spending and
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France: Tax authorities clarify VAT rates for cultural, recreational, and educational activities
France’s tax authorities have issued detailed guidance on the application of value-added tax (VAT) to cultural, recreational, educational, and professional activities, including exhibitions, sites, installations, and associated services. The
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Germany: Bundestag approves tax amendment Act 2025
Germany’s lower house of the parliament (Bundestag) approved the draft Tax Amendment Act 2025 on 4 December 2025, which introduces tax relief measures for individuals and updates several technical provisions across existing tax legislation. Key
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France: Tax authorities issue second guidance on Pillar 2 global minimum tax
France’s tax authorities have released a second set of guidelines on 3 December 2025 covering the application of the Pillar 2 global minimum tax (GloBE) rules for multinational and large domestic groups. The new guidance provides clarifications
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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
See MoreItaly: 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
See MoreItaly: 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
See MoreIreland: 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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