EU council approves draft directive holding foreign traders and platforms liable for import VAT
The EU Economic and Financial Affairs Council (ECOFIN) agreed on a draft directive on 13 May 2025, introducing new VAT rules for distance sales of imported goods and import VAT. The new rules seek to improve the VAT collection on imported goods
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Portugal extends 2024 CIT, property tax deadlines due to power outage
Portugalโs Tax and Customs Authority has issued Order No. 79/2025 - XXIVย on 8 May 2025, extending key tax deadlines due to the recent large-scale power outage affecting Portugal, France, and Spain. The filing deadline for the 2024 annual
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Poland plans new e-receipt rules from July 2025
Poland plans to introduce new cash register regulations from 1 July 2025, allowing businesses to issue electronic receipts (e-receipts) from traditional and software-based cash registers, provided the customer consents. The planned changes follow
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Denmark: New digital bookkeeping rules for VAT-registered entities from January 2026
The Danish Business Authority announced new rules under the Danish Bookkeeping Act that require companies to use digital bookkeeping systems capable of handling e-invoices, starting 1 January 2025. From 1 January 2026, this will also apply to all
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Liechtenstein parliament ratifies tax treaty with Ireland
Liechtensteinโs parliament has given its approval to the ratification of the tax treaty with Ireland concerning income and capital on 9 May 2025. The agreement regulates the elimination of double taxation in cross-border situations. It is based
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Cyprus ratifies tax treaty with Curacao
Cyprus has ratified its first-ever income tax treaty with Curacao on 9 May 2025. Signed on 23 April 2025, this is the first treaty between the two countries and aims to eliminate double taxation on income and prevent fiscal evasion between Cyprus
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Estonia considers raising personal and corporate income tax rates, scrapping temporary security tax
The Estonian government presented a draft bill ( 25-0475 ) to the parliament proposing permanent tax increases to replace the temporary 2% security tax on 9 May 2025. The draft bill, which amends relevant Acts, removes the planned 2% security tax
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Netherlands updates decree on VAT invoicing and administrative rules
The Netherlands State Secretary for Finance has published Decree No. 2025-115705 of 1 May 2025 in the Official Gazette No. 2025, 15981 on 8 May 2025. This new decree updates the regulations on VAT administrative and invoicing
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EU, Singapore sign landmark digital trade agreement
The European Union ( EU)ย and Singapore have taken a significant step forward in their bilateral trade relations with the signing of a landmark Digital Trade Agreement (DTA). Signed by Commissioner for Trade and Economic Security Maroลก ล efฤoviฤ
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Liechtenstein: Parliament approves tax treaty with Croatiaย
The Liechtenstein parliament ratified the income and capital tax treaty with Croatia on 9 May 2025. Signed on 22 January 2025, it is the first treaty between the two countries and aims to eliminate double taxation concerning taxes on income and
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Ireland: Revenue updates Pillar Two tax guidelines
Irish Revenue issued eBrief 098/2025 on 8 May 2025, updating its Tax and Duty Manual on global minimum taxation rules. The following two Tax and Duty Manuals (TDMs) relating to Pillar Two have been updated: TDM Part 04A-01-01 - Global
See MoreEU consults countermeasures, WTO action over US tariffs
The European Commission has announced a public consultation on possible countermeasures and WTO litigation in response to US tariffs on 8 May 2025, if ongoing EU-US negotiations do not result in a mutually beneficial outcome and the removal of the
See MoreEstonia: Government approves tax treaty with Liechtenstein
The Estonian government approved the signing of the income and capital tax treaty with Liechtenstein on 8 May 2025. The agreement was initialled on 17 November 2023 following the conclusion of negotiations. The treaty seeks to eliminate double
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Italy updates reportable and participating jurisdictions under CRS
Italyโs Ministry of Economy and Finance has issued a decree updating the list of jurisdictions considered reportable and participating under the Common Reporting Standard (CRS). The updated list, released in the Official Journal on 6 May 2025,
See MorePortugal extends VAT compliance deadlines due to tax portal disruptions
The Portuguese government has extended several VAT compliance deadlines under Order No. 78/2025 โ XXIV on 6 May 2025, due to recent tax portal access issues caused by power outages in some EU countries and other network disruptions. The new
See MoreIreland issues guidance on new corporate tax exemption for foreign distributions
The Irish Revenue Commissioners published Revenue eBrief No. 095/25 on 6 May 2025, which provides guidance on the corporate tax participation exemption for distributions received from foreign subsidiaries. This exemption applies from 1 January
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Poland: Council of Ministers adopts deregulation legislations
Poland's Ministry of Finance announced on 6 May 2025 that the Council of Ministers has adopted a number of draft laws that are part of the deregulation process. Draft corporate tax amendment act The proposal suggests removing the requirement
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Brazil: Congress approves amending protocol to tax treaty with Sweden
Brazilโs Congress has approved the amending protocol to the Brazil-Sweden Income Tax Treaty (1975) through Legislative Decree No. 167/2025 on 5 May 2025. The legislative Decree No. 167/2025 was published in the Official Gazette No. 83 on 6 May
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