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Italy: Italy Tax Revenue Jan-Aug 2026 Rises 2.6% on Direct Tax Growth

Italy /

On 5 October 2026, the Italian Department of Finance (Dipartimento delle Finanze) published the monthly tax revenue bulletin covering the first eight months of 2026. The report confirms a positive trend in state tax receipts assessed on an accrual basis, with total revenue reaching €398.787 billion, an increase of €10.099 billion (+2.6%) compared to the

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Netherlands: Amendment Notes for Tax Plan 2027 and Other Tax Measures 2027

Netherlands /

On 5 October 2026, the State Secretary of Finance presented amendment notes (nota van wijziging) to the House of Representatives for two key legislative proposals: the Tax Plan 2027 (Belastingplan 2027) and the Other Fiscal Measures 2027 (Overige Fiscale Maatregelen 2027). These notes detail modifications to the original bills, reflecting parliamentary debate, stakeholder feedback, and

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Russia: Russia Accounting Guidance: Proper Reflection of Discounts and Benefits in Books

Russia /

On 5 October 2026, the Federal Tax Service, in coordination with the Ministry of Finance, issued detailed methodological guidance on the correct accounting and tax treatment of commercial discounts, bonuses, and preferential pricing provided to buyers. The clarification addresses the longstanding ambiguity regarding the timing of revenue recognition for profit tax (Article 250 NK RF)

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Poland: Poland NSA: Contractual Penalty Paid for Breach Can Be Tax Deductible

Poland /

On 5 October 2026, the Polish Supreme Administrative Court (NSA) ruled that a contractual penalty (kara umowna) paid due to withdrawal from a contract or non-culpable delay in service performance can be recognized as a tax-deductible cost for Personal Income Tax (PIT) purposes. The Court held that such penalties, when incurred in connection with business

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Finland: Finland Issues New Advance Ruling KVL 2026/22 for Corporates

Finland /

On 5 October 2026, the Finnish Tax Administration published advance ruling KVL 2026/22. This ruling responds to a corporate taxpayer’s request for certainty on the tax consequences of a specific transaction or structure. The ruling likely addresses corporate income tax issues such as deductibility of expenses, tax treatment of financial instruments, or application of anti-avoidance

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Italy: Italy Construction Real Estate Tax Accounting Rules Part 2

Italy /

As of 5 October 2026, the Italian tax authority has released the second part of a comprehensive four-part series addressing the tax treatment of real estate held by construction companies. This installment focuses on the accounting classification of properties built for sale, which must be recorded as inventory rather than fixed assets. The analysis covers

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Luxembourg：Luxembourg Deficit Narrows Ahead of 2027 Budget

Luxembourg /

On 5 October 2026, Finance Minister Gilles Roth announced that Luxembourg’s fiscal deficit has narrowed compared to the previous year, just days before the presentation of the 2027 state budget. The improved fiscal position reflects stronger-than-expected tax receipts, controlled expenditure growth, and favorable economic conditions in the first three quarters of 2026. The deficit reduction

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Netherlands: No Grounds for Investigation into Family Mortgages

Netherlands /

On 5 October 2026, the Dutch cabinet informed Parliament that it sees no reason to launch a dedicated investigation into family mortgages and gift-loan constructions. The government maintains that existing tax rules and jurisprudence adequately address arrangements where the intention from the outset is that interest payments are funded from gifts. In such cases, the

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Russia: Russia Updates Control Ratios for 9-Month 2026 Financial Reporting

Russia /

On 5 October 2026, the Federal Treasury (Roskazna) approved updated control ratios for the verification of budget execution reports and financial statements of budgetary institutions for the first nine months of 2026. The Order of the Federal Treasury No. 212n, dated 30 September 2026, introduces targeted adjustments to the cross-check formulas used by the automated

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Belarus: Minsk Airport Customs Seizes Large Undeclared Cash

Belarus /

On 5 October 2026, customs officers at Minsk National Airport detected a passenger attempting to cross the customs border with a large sum of undeclared foreign currency exceeding the equivalent of 10,000 USD. Under the EAEU Customs Code Article 263 and the Belarusian Law on Currency Regulation, individuals must declare cash and monetary instruments exceeding

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