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Cyprus: Cyprus Collects €50M Under OECD Pillar Two Minimum Tax Law

Cyprus /

On 28 October 2026, the Cyprus Tax Department announced the collection of €50 million from multinational enterprises under the OECD Pillar Two global minimum tax framework. This marks the first significant revenue intake since Cyprus transposed the EU Directive 2022/2523 into national law, effective for fiscal years starting on or after 31 December 2023. The

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United Kingdom: UK Pension Tax Allowance Expanded Beyond Promise but Complexity Remains

United Kingdom /

On 28 October 2026, the Low Incomes Tax Reform Group (LITRG) of the CIOT welcomed the government’s new ‘Pension Tax Allowance’ for state pensioners, which provides a higher tax-free allowance than originally pledged in the election manifesto. However, LITRG warned that the allowance’s interaction with the existing personal allowance, marriage allowance, and the high-income child

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Ireland: Budget 2026 Criticized for Neglecting NI Business Needs

Ireland /

Following the 28 October 2026 UK Autumn Budget, Chartered Accountants Ireland issued a strong critique highlighting the failure to address specific Northern Ireland business challenges. The Institute argues that the Budget overlooks the unique economic circumstances of NI, including the impact of the Windsor Framework, cross-border trade frictions, and the need for targeted investment incentives.

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Netherlands: Netherlands: Family Mortgage Interest Deduction at Risk via Gifts

Netherlands /

On 28 October 2026, Taxence reported on a critical ruling regarding the Dutch mortgage interest deduction for family loans. The case addresses a scenario where parents provide a family mortgage for a home purchase, with the implicit understanding that they will compensate the interest burden through periodic gifts. The Dutch tax authorities and courts view

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Poland: Senate Passes Key Amendments to Lump-Sum, PIT, and CIT Laws

Poland /

On 28 October 2026, the Polish Senate approved six tax amendment acts, introducing substantive changes to the lump-sum tax (ryczałt), personal income tax (PIT), and corporate income tax (CIT). Notably, the 17% surcharge on lump-sum income exceeding EUR 300,000 was eliminated. Other adjustments address revenue recognition timing and expense deductibility. Key Takeaways Lump-Sum Surcharge Removal:

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Poland: EU Over-Regulation Debate: Poland Demands More Corporate Accountability

Poland /

On 28 October 2026, senior Polish finance officials pushed back against industry claims of EU over-regulation, asserting that member states retain the right to demand higher transparency and tax compliance from multinational enterprises. The statement references the upcoming implementation of the EU’s DAC8 directive on crypto-asset reporting and the public Country-by-Country Reporting (pCbCR) rules for

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United Kingdom: UK Business Rates Changes Create Steep Withdrawal Slope, May Deter Expansion

United Kingdom /

On 28 October 2026, the CIOT warned that changes to business rates reliefs announced in the Autumn Budget 2026 will create a’steep withdrawal slope’ that disincentivises small business expansion and investment. The government confirmed the extension of the Retail, Hospitality and Leisure (RHL) relief at 75% for 2026/27 but introduced a tapering mechanism that phases

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Ireland: Five Key Tax Updates for Friday 30 October 2026

Ireland /

The weekly tax roundup for 30 October 2026 covers five essential developments for UK tax practitioners. First, HMRC publishes updated guidance on the Corporate Criminal Offence (CCO) failure to prevent facilitation of tax evasion, clarifying the “reasonable prevention procedures” defense. Second, the First-tier Tribunal decision in Smith v HMRC [2026] UKFTT 450 confirms that cryptocurrency

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Poland: Tax Authority Confirms Home Renovation Costs Deductible for Disability Adaptation

Poland /

The Director of the National Tax Information (KIS) confirmed on 28 October 2026 that expenses for adapting residential premises for persons with disabilities qualify for the rehabilitation tax relief under the PIT Act. The relief applies to taxpayers with disabilities or those supporting disabled dependents, covering construction, equipment, and assistive technology costs. Key Takeaways Scope

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Hungary: NAV Busts Major Illegal E-Cigarette and Cigarette Factory Network

Hungary /

On 28 October 2026, NAV’s criminal investigation division announced the simultaneous dismantling of four interconnected criminal cases involving the large-scale production and distribution of illegal electronic cigarettes and traditional tobacco products. The operation uncovered a complete, operational clandestine cigarette factory with a production capacity valued at 70 billion forints, alongside a smuggled cigarette manufacturing line

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