On 15 October 2026, Portaria n.º 457/2026/1 updated the currency devaluation coefficients to be applied to assets and rights disposed of during the year 2026. These coefficients are used to adjust the acquisition cost of assets for inflation when calculating capital gains for personal income tax (IRS) and corporate income tax (IRC) purposes. Key Takeaways
Portugal：Portugal Updates 2026 Currency Devaluation Coefficients Read More »
On 15 October 2026, the State Tax Service, in coordination with the National Bank of Ukraine (NBU), published a comprehensive overview of currency control requirements applicable during martial law in 2026. The guidance covers mandatory repatriation of foreign currency proceeds (currently 50% for most exporters), permissible settlement currencies for import/export contracts, and the role of
Ukraine：Ukraine Currency Control: Key 2026 Requirements Under Martial Law Read More »
In a press release dated 15 October 2026, the Tax Administration of Kosovo (TAK) announced that tax revenues collected from January to September 2026 reached €908.8 million, representing an increase of €114.5 million (14.4%) compared to the same period in 2025. Concurrently, the number of penalties issued fell by 22%, reflecting a strategic shift toward
Kosovo：Kosovo TAK Collects €908.8M in Tax Revenues, Penalties Drop 22% Read More »
StB Carsten Butenschön, a long-standing advocate for the tax advisory and auditing professions, was awarded the Federal Cross of Merit (Bundesverdienstkreuz) on 15 October 2026. The honor recognizes his decades of voluntary engagement in professional politics, including leadership roles within the DStV and the Chamber of Tax Advisors. Butenschön has been instrumental in shaping key
Germany: Tax Advisor Carsten Butenschön Receives Federal Cross of Merit Read More »
In mid-October 2026, the Italian National Council of Chartered Accountants (CNDCEC) convened a high-level roundtable with Vice Minister Maurizio Leo and Revenue Agency Director Vincenzo Carbone to discuss the eight Unified Texts (Testi Unici) stemming from the comprehensive tax reform (Legge Delega 111/2023). These consolidated codes, covering VAT, direct taxes, tax procedures, and collection, enter
Italy: Italy Tax Reform: Eight Unified Texts Effective January 2027 Read More »
On 15 October 2026, the Ministry of Finance announced the extension of the temporary 25% reduction in excise duty on standard diesel for the period 16–31 October 2026. This decision follows the biweekly evaluation mechanism established by Law No. 162/2026, which links excise adjustments to oil price fluctuations. The measure aims to alleviate fuel cost
Romania：Romania Maintains 25% Diesel Excise Cut for Late October 2026 Read More »
On 15 October 2026, HMRC published a comprehensive factsheet detailing the promoter penalty regime under FA 2014, Schedule 16. The guidance explains penalties for designing, marketing, or facilitating tax avoidance schemes, including the new ‘enabler’ penalties introduced in 2022. It clarifies the distinction between promoters, enablers, and users, and outlines defence provisions. Key Takeaways Enabler
United Kingdom：UK HMRC Issues New Factsheet on Promoter Penalties Read More »
On 15 October 2026, HMRC announced that its dedicated Football Compliance Unit has secured £110 million in additional tax, interest, and penalties from investigations into player transfers, agent fees, and image rights structures across Premier League and EFL clubs. The unit, established in 2019, focuses on offshore structures, dual contracts, and undisclosed payments. Key Takeaways
United Kingdom：UK Football Tax Investigations Yield £110 Million Read More »
On 15 October 2026, the Greenland Tax Agency (Skattestyrelsen) published a service advisory warning of potential delays in all outbound payments from the Greenland Self-Government (Naalakkersuisut) to bank accounts in both Greenland and Denmark. The delay stems from technical problems within the core IT infrastructure processing financial transactions. Affected payments include tax refunds (overskydende skat),
Greenland: Greenland Tax Agency Warns of Payment Delays Due to IT System Issues Read More »
On 15 October 2026, the Low Incomes Tax Reform Group (LITRG) warned that the MTD software market remains a ‘minefield’ for low-income taxpayers. Many commercial packages lack essential features for cash basis accounting, have poor accessibility, or charge hidden fees. LITRG calls for HMRC to maintain a free, HMRC-provided software option beyond the current transition
United Kingdom：UK LITRG Warns MTD Software Market a Minefield Read More »
