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Europe

Spain: Canada Launches Aggressive Mega Deduction to Lure US Investment

Spain /

On 28 October 2026, the Canadian Department of Finance unveiled the “Strategic Investment Mega Deduction,” a temporary 150% accelerated capital cost allowance (CCA) for qualifying clean technology, advanced manufacturing, and critical mineral projects initiated before 2030. Announced by Finance Minister Chrystia Freeland as a direct response to the US Inflation Reduction Act (IRA) Section 45X

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United Kingdom: UK Budget 2026: Employment Tax Changes for Employers and Employees

United Kingdom /

The Autumn Budget 2026, announced on 28 October 2026, introduced significant reforms to employment taxes affecting both employers and employees. Key measures include an increase to the approved mileage allowance payments (AMAP) for business travel, upward adjustments to the National Living Wage and National Minimum Wage rates effective from April 2027, and a reform of

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United Kingdom: UK MTD Penalty Easement Extended for 2027 Income Tax Joiners, LITRG Welcomes

United Kingdom /

On 28 October 2026, the Low Incomes Tax Reform Group (LITRG) welcomed the publication in the Autumn Budget 2026 documents confirming that taxpayers joining Making Tax Digital (MTD) for Income Tax from April 2027 will benefit from a temporary easement from late submission penalties during their first year in the regime. This mirrors the easement

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Norway: Norway Customs: Transfer Pricing Adjustment Declaration Rules

Norway /

On 28 October 2026, the Norwegian Tax Administration published new guidance on customs declaration procedures for transfer pricing adjustments. The updated regime allows importers to declare transfer pricing adjustments directly in the customs declaration, eliminating the need for separate voluntary disclosure processes that previously created significant administrative burden. The guidance outlines the conditions under which

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Cyprus: Cyprus Extends Tax Filing Deadline to Nov 30 Without Penalties

Cyprus /

In a statement on 28 October 2026, the Head of the Cyprus Tax Department, Marios Michael, confirmed that individual and corporate taxpayers may submit their 2025 income tax returns until 30 November 2026 without incurring interest or late-filing surcharges. This extension applies to both the simplified return (Form T.F.1) and the full accounts-based return. The

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Estonia: Parliament Tightens Anti-Money Laundering Oversight for Tax Authority

Estonia /

On 28 October 2026, the Riigikogu adopted amendments to the Money Laundering and Terrorist Financing Prevention Act, refining the supervisory powers of the Tax and Customs Board (MTA) and the Financial Intelligence Unit (Rahapesu andmebüroo). The changes grant the MTA explicit authority to request and access bank account information and other financial data necessary for

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United Kingdom: UK Budget 2026: Key Indirect Tax Changes Including Environmental Duties

United Kingdom /

In the Autumn Budget 2026 delivered on 28 October 2026, the Chancellor announced a package of indirect tax measures targeting environmental objectives, excise duties, and other consumption taxes. The changes include adjustments to the Climate Change Levy, Carbon Price Support, and Plastic Packaging Tax rates to align with net-zero commitments. Excise duties on alcohol, tobacco,

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Poland: EU Customs Code Reform Approved: New Trade Rules for Business

Poland /

On 28 October 2026, EY Poland presents a critical briefing on the approved reform of the Union Customs Code (UCC), which introduces sweeping changes to customs obligations for importers and exporters trading with the European Union. The reform, aimed at modernizing customs processes through digitalization and risk-based controls, establishes new data requirements for customs declarations,

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Ukraine: STS Completes System Configuration After Technical Maintenance

Ukraine /

On 28 October 2026, the State Tax Service announced the successful completion of system configuration following scheduled technical maintenance performed on 27–28 October. All core electronic services, including the Electronic Cabinet, the Unified Window for Electronic Reporting, the VAT Administration System (SEA VAT), and the STS Pulse analytics dashboard, have been restored to full functionality.

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Estonia: Diesel Price Surge Pressures Businesses as State Delays Tax Cut

Estonia /

On 28 October 2026, Delfi reported that diesel prices in Estonia have surpassed 2 euros per liter, placing significant cost pressure on transport companies, manufacturers, and municipal utilities. Industry associations have called for a temporary reduction in excise duty on diesel to alleviate the burden. However, Finance Minister Annely Akkermann indicated that the government will

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