Italy gazettes Decree regulating exemption from loss carry-forward restrictions for intra-group restructurings
Italy has implemented an exemption from tax loss carry-forward restrictions for intra-group restructurings under Article 177-ter of the Income Tax Code, effective from 31 December 2024. Italy’s Ministry of Economy and Finance has published the
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Italy: Council of Ministers approves additional supplementary and corrective amendments to tax reform
The bill simplifies regulations, enhances transparency and fairness, revises the Taxpayer's Bill of Rights, and clarifies the self-assessment process with added sanctions. Italy’s Council of Ministers has preliminarily approved a Legislative
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EU revises list of high-risk third countries for money laundering and terrorist financing
The regulation goes into effect on 5 August 2025. The EU published the Commission Delegated Regulation (EU) 2025/1184 on 16 July 2025, updating Regulation 2016/1675 by revising the list of high-risk third countries with anti-money laundering
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EU publishes implementing regulation to facilitate automatic exchange of tax information under DAC9
The EU's implementing regulation under DAC9 aims to enable automatic information exchange between Member States through technical solutions. The European Commission has published the implementing regulation in the Official Journal of the EU
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Poland: Senate approves bill to ease corporate tax rules
The legislation repeals the requirement for large corporate income taxpayers to publish a report on their executed tax strategy. Poland’s Senate passed two tax legislation amendments without changes on 17 July 2025. Corporate Income Tax
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France: Council of Ministers approves tax treaty protocol with Sweden
The protocol updates the 1990 France–Sweden Income and capital tax treaty with OECD BEPS standards. France’s Council of Ministers approved the amending protocol to the 1990 France–Sweden Income and Capital Tax Treaty on 11 July
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France, Uganda begin negotiations on income tax treaty
French and Ugandan officials started negotiations in June 2025 for their first bilateral income tax treaty to prevent double taxation. French and Ugandan officials held the first round of negotiations for an income tax treaty in Kampala, Uganda,
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Germany, Japan formalise tax treaty arbitration rules
The agreement details the procedures for the arbitration of their 2015 tax treaty between the two countries. The German Ministry of Finance released an agreement on 4 June 2025, signed with Japan, detailing the application of arbitration
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Romania: Parliament approves increases to VAT, bank levy, and dividend tax
The law introduces significant tax reforms, including increased VAT rates, a new reduced VAT rate, higher turnover tax for banks, and an increased dividend tax rate. Romania's parliament has passed the Law on certain fiscal-budget measures on 14
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Kenya, Cyprus negotiating income tax treaty
An income treaty from these negotiations will be the first between Kenya and Cyprus. Kenya’s Ministry of Foreign Affairs announced that officials from Kenya and Cyprus convened on 7 July 2025 to discuss strengthening bilateral relations,
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Brazil: Senate approves tax treaty with Poland
The treaty becomes effective three months after the exchange of ratifications and applies from 1 January of the following year. Brazil's Senate (upper house of the National Congress) approved the ratification of its first income tax treaty with
See MoreItaly: Council of Ministers approves draft VAT consolidation code
The new consolidated VAT law has been structured into 18 sections and 171 articles. Italy’s Council of Ministers, in a press release on 14 July 2025, has given preliminary approval to a Legislative Decree aimed at consolidating and reorganising
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Ireland: Irish Revenue revises schedule of revenue powers
The brief confirms the updates to the Tax and Duty Manual (TDM) as of July 2025. The Irish Revenue has published eBrief No. 135/25 on 15 July 2025 about updates to Tax and Duty Manual (TDM) 38-04-15 Schedule of Powers. Revenue eBrief No.
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Poland: MoF issues guidance on beneficial ownership for withholding tax
The guidance provides clarification of the application of the beneficial owner clause for withholding tax under Corporate and Individual Income Tax Laws. Poland’s Ministry of Finance has issued guidance on 3 July 2025, regarding the application
See MoreEU halts retaliatory tariffs on US imports until 6 August ‘25
This follows EU's warning on 14 July 2025 that it may implement countermeasures if ongoing trade negotiations with the US fail to prevent the imposition of 30% tariffs scheduled to begin on 1 August. The European Union has decided to halt the
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France: Council of Ministers approves new income tax treaty with Finland
The new treaty will replace the existing 1970 tax agreement between France and Finland. The French Council of Ministers gave approval to the updated income tax agreement with Finland on 11 June 2025. Signed on 4 April 2023, this treaty will
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Belgium issues clarification on 2026 B2B e-invoicing rules
The Decree mandates the use of structured e-invoicing for B2B transactions between VAT-registered taxpayers, starting in 2026. Belgium has published Decree of 8 July 2025 in the Official Gazette, mandating structured electronic invoicing
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Slovak Republic adopts DAC8 law
The bill will take effect on 1 January 2026. The Slovak Republic has published a bill amending the Act on Automatic Exchange of Information on Financial Accounts for Tax Administration purposes in the Collection of Laws on 10 July 2025. This
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