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Bulgaria: BICA Publishes Position on Proposed Tax Accounting Reforms

Bulgaria /

On 1 October 2026, the Bulgarian Industrial Capital Association (BICA) issued an official position regarding draft legislative amendments in the field of tax and accounting legislation published by the Ministry of Finance. The proposals aim to transpose recent EU directives and modernize domestic tax administration, including changes to VAT compliance, corporate income tax reporting, and

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Italy: Italy CPB Biennial Agreement Restyling Boosts Effectiveness

Italy /

As of 1 October 2026, the Italian Ministry of Economy and Finance (MEF), the Revenue Agency (Agenzia delle Entrate), and the National Council of Chartered Accountants (CNDCEC) have jointly unveiled a comprehensive restyling of the Biennial Preventive Agreement (Concordato Preventivo Biennale – CPB). This initiative aims to enhance the instrument’s effectiveness by fostering deeper institutional

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Malta: Malta Budget 2027 Targets Investor Worker Confidence PM Confirms

Malta /

On 1 October 2026, Prime Minister Robert Abela addressed the General Workers Union (GWU) outlining the strategic direction for Malta’s Budget 2027. The speech emphasized fiscal stability, targeted tax relief for working families, and incentives to sustain foreign direct investment (FDI) attractiveness. While specific tax measures were not fully detailed in the address, the Prime

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Sweden: FAR Welcomes EU Tax Omnibus as Potential System Shift

Sweden /

On 1 October 2026, FAR (the Institute for the Accountancy Profession in Sweden) published its response to the European Commission’s Tax Omnibus package, a set of legislative proposals designed to reduce compliance costs and simplify tax obligations for companies operating across the European Union. The package includes amendments to directives on VAT, cooperation between tax

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Austria: Flood-Damaged Car Valuation for Extraordinary Burden Relief

Austria /

On 17 September 2026, the Federal Fiscal Court ruled (RV/2100616/2026) on the valuation of a car destroyed by flooding for purposes of extraordinary burden (außergewöhnliche Belastung) due to catastrophe damage. The court established the methodology for determining the fair market value (Zeitwert) immediately before the disaster, considering age, condition, and regional market prices. This decision

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Germany: BFH Clarifies Primary Parent for Child Benefit Entitlement

Germany /

In its judgment of 9 July 2026 (III R 8/25), published on 1 October 2026, the BFH addressed the allocation of child benefit (Kindergeld) when a child lives in the households of both separated parents beyond mere visitation. The Court held that cash maintenance payments by the non-custodial parent do not automatically establish a primary

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Austria: Travel Costs as Business Expenses for Official Assignments and Special Leave

Austria /

In a decision dated 17 September 2026 (RV/2101226/2020), the Federal Fiscal Court addressed the deductibility of travel costs (Fahrtkosten) as business expenses (Werbungskosten) in connection with official assignments (Dienstzuteilungen) and special leave (Sonderurlaub). The court differentiated between regular commuting and travel necessitated by employer directives, allowing deduction for the latter. This ruling affects employees seconded

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Estonia: Estonian Drivers Launch Initiative to Cut Fuel VAT and Excise

Estonia /

On 1 October 2026, the Estonian Automobile Club formally submitted a citizen’s initiative (rahvaalgatus) to the Riigikogu, backed by over 50,000 verified digital signatures, demanding immediate legislative action to reduce the VAT rate on motor fuels from the standard 22% to 13% and to lower excise duties on petrol and diesel to the minimum levels

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United Kingdom: UK R&D Tax Relief Reaches £8.2bn Despite 17% Claim Drop

United Kingdom /

According to the latest HM Revenue & Customs (HMRC) statistics published on 1 October 2026, the total value of Research and Development (R&D) tax relief claims paid out by the UK Exchequer has risen to £8.2 billion for the most recent reporting period. This increase occurs despite a notable 17% decline in the number of

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