On 17 September 2026, the Federal Tax Service (FNS) of Russia and the General Tax Authority of the State of Qatar signed a Memorandum of Understanding (MoU) on mutual understanding and technical cooperation in the field of tax administration. This agreement marks a significant step in strengthening bilateral tax relations between the two nations, aligning
Russia: Russia Signs Tax Administration MoU with Qatar Authority Read More »
On 17 September 2026, the Finnish Government submitted a legislative proposal to Parliament aiming to reduce the corporate income tax rate from the current 20% to 18% effective from the beginning of the 2027 tax year. Simultaneously, the proposal extends the carryforward period for business losses from the current 10 years to 15 years, aligning
Finland: Finland Proposes 18% Corporate Tax Rate and Extended Loss Relief Read More »
A landmark investigation published 17 September 2026 exposes a rapidly growing tax engineering industry in the United States that exploits the interaction between long equity positions and synthetic short derivatives to convert ordinary income into preferential long-term capital gains. The strategy, employed by hedge funds, family offices, and corporate treasuries, involves purchasing dividend-paying stocks while
Spain: New US Tax Engineering Moves $200B via Equity-Short Strategies Read More »
On 17 September 2026, HMRC confirmed that employers may exclude globally mobile employees (GMEs) from the mandatory payrolling of benefits in kind (BIK) starting from the 2026/27 tax year. The guidance also clarifies the Class 1A National Insurance Contributions (NIC) position for voluntary payrolling arrangements. This concession recognises the administrative complexity of valuing and reporting
United Kingdom: Globally Mobile Employees Exempt from Mandatory Payrolling of Benefits Read More »
On 17 September 2026, the Italian Revenue Agency issued Ruling No. 175/2026 clarifying the VAT treatment of “private cage” services within data centers. The ruling establishes that when a client obtains exclusive use of a physically delimited space within an Italian data center along with ancillary services such as power supply, cooling, interconnection, and security,
Italy: Italy VAT: Data Center Private Cage Classified as Real Estate Service Read More »
On 17 September 2026, the Danish Ministry of Taxation and Growth announced that the Systemic Risk Council has recommended increasing the countercyclical capital buffer rate for the Faroe Islands from 1% to 2%. The Council’s recommendation follows an assessment of systemic risks in the Faroese financial system, particularly concerning credit growth and property market developments.
Denmark: Faroe Islands Countercyclical Capital Buffer Increase Under Review Read More »
On 17 September 2026, the European Court of Justice (ECJ) delivered a landmark judgment concerning the application of Spanish withholding tax on distributions made by US Regulated Investment Companies (RICs) to EU resident investors. The case centered on whether US RICs qualify as beneficial owners under the EU Parent-Subsidiary Directive and the Spain-US double tax
Luxembourg: ECJ Ruling: Spanish Withholding Tax on US Regulated Investment Companies Read More »
On 17 September 2026, the State Tax Service issued guidance on the tax treatment of financial assistance provided by employers to employees for funeral expenses. Under the Tax Code, such assistance is generally taxable as employment income unless it qualifies for specific exemptions. The clarification outlines the conditions under which funeral assistance up to a
Ukraine：Ukraine Funeral Assistance: Tax Treatment Clarified by Tax Service Read More »
On 17 September 2026, the Finnish Government unveiled a landmark tax reform package proposing to reduce the corporate income tax rate from 20% to 18% effective 1 January 2027, and to extend the loss carryforward period from 10 to 15 years. The bill amends the Business Income Tax Act (360/1968) Sections 14 and 33. The
Finland: Finland Plans Corporate Tax Cut to 18% and Extended Loss Carryforward Read More »
On 17 September 2026, the Low Incomes Tax Reform Group (LITRG) published comprehensive information to support individuals impacted by the government’s new Low Earner’s Pension Payment (LEPP). The LEPP is a targeted measure designed to address the anomaly where low earners in net pay pension schemes do not receive tax relief on their contributions, unlike
United Kingdom: LITRG Releases Guidance on HMRC Low Earner Pension Payment Read More »
