Poland eases transfer pricing compliance, payment penalties
The Polish Council of Ministers approved amendments to the Personal Income Tax Act and Corporate Income Tax Act on 21 July 2026, designed to cut red tape around transfer pricing disclosures and reduce penalties for misfiled payments. The changes
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Poland raises e-cigarette excise tax to PLN 50 per unit, closes design loopholes
Poland's Council of Ministers approved an amendment to the Excise Duty Act on 21 July 2026, closing loopholes in how the government taxes e-cigarettes and vaping equipment. The new rules treat all vaping devices the same way regardless of their
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Poland: Council of Ministers approve simplified VAT rules for trade, customs
Poland’s Council of Ministers approved draft amendments to the Goods and Services Tax Act on 21 July 2026. The changes target three pain points: redundant paperwork for importers, manual customs processes, and disagreements with tax authorities
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Greece simplifies application process for investor flat-tax regime for new tax residents
Greece’s The Independent Authority for Public Revenue (AADE) has simplified the application process for the alternative taxation regime for foreign-source income for new tax residents investing in Greece under Article 5A of the Income Tax Code
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Germany updates VAT registration form for non-resident businesses
The German Federal Ministry of Finance has released updated VAT registration forms for non-resident businesses, along with revised annexes and guidance notes, replacing versions issued in 2021 and 2023. The forms, published in July 2026, are
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Ireland: Lower House approves amending protocol to tax treaty with Sweden
Ireland's Lower House of Parliament approved the second protocol amending the 1986 income tax treaty with Sweden on 15 July 2026. Signed on 3 June 2026, the protocol introduces several updates to the treaty. It replaces the preamble to align
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Nigeria, Portugal negotiating income tax treaty
Nigeria's Federal Ministry of Information and National Orientation announced on 17 July 2026 that officials from Nigeria and Portugal discussed bilateral relations, including progress toward concluding an income tax treaty, during the EurAfrican
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Russia proposes new PIT deduction for young professionals in key sectors
A draft law has been submitted to the Russian State Duma proposing the introduction of a new individual income tax deduction for young professionals working in certain fields. The proposal is set out in Draft Law No. 1292383-8, submitted on 17 July
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Hungary: Central Bank lowers base interest rate
Hungary's National Tax and Customs Administration has announced that the Hungarian National Bank reduced its base interest rate from 6.00% to 5.75%, effective 22 July 2026. The rate had previously been lowered from 6.25% to 6.00% on 24 June
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Netherlands: CFC levy cannot offset low-tax free investments under participation exemption
The Dutch Tax Administration issued a clarification on 21 July 2026, explaining that the controlled foreign company (CFC) levy does not take low-tax-free investments into account. The recent clarification by the Dutch Tax Administration provides
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Hungary publishes new transfer pricing documentation guidance
Hungary has introduced a revised transfer pricing (TP) documentation framework through Decree No. 45/2025 (XII. 23.) NGM on 9 July 2026, accompanied by guidance from the Ministry of Finance, setting out new documentation and data reporting
See MoreNetherlands consults bill targeting compliance simplifications, adjustment of reorganisation facilities, hybrid entity changes
The Dutch government has put forward a comprehensive legislative package designed to refine the Income Tax Act 2001, the Corporate Income Tax Act 1969, the Successions Act 1956, and other tax frameworks. Following this, the government has opened a
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Ireland: Lower house approves income tax treaty with Liechtenstein
The Irish lower house of Parliament approved the income tax treaty with Liechtenstein on 15 July 2026. Signed on 30 October 2024, the agreement regulates the elimination of double taxation in cross-border situations. It is based on the
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Malta issues individual tax programme rules with four special tax statuses from 2027
Malta has published Legal Notice 195 on 14 July 2026, setting out the Individual Tax Programme Rules, 2026, which establish a new framework for granting special tax status to eligible individuals from 1 January 2027. The rules introduce four
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UK announces VAT cut on electricity
The UK government has announced today, 21 July 2026, that VAT on domestic electricity bills will be reduced from 5% to 0% from 1 October 2026, providing support to households ahead of the next Ofgem price cap as part of a package of cost-of-living
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Italy clarifies GMT penalties, 90-day return cutoff under voluntary disclosure, centralised GloBE filings
The Italian Revenue Agency has published a new FAQ on the Pillar Two Global Minimum Tax (GMT) on 17 July 2026, expanding on the guidance first issued on 29 May 2026. While the original FAQs covered topics such as reporting obligations, safe
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Luxembourg introduces Pillar Two bill with Side-by-Side package
The Luxembourg parliament is considering a draft law submitted on 17 July 2026 that would amend the Law of 22 December 2023 on the minimum effective taxation of multinational enterprise groups and large national groups. The amendments would
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UK tariff sees major liberalisation for India, new scrutiny on Chinese machinery
After a quiet start, the week in UK trade policy was defined by a massive mid-week surge of activity. The dominant events were a significant liberalisation for Indian agricultural goods, with hundreds of new 0% duties taking effect, and a swift
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