Europe

On 14 October 2026, a New York state court delivered a significant setback to the city’s mansion tax on luxury properties valued above $25 million, ruling that the progressive rate structure may violate constitutional uniformity clauses. The decision places the tax—generating approximately $300 million annually—in legal limbo pending appeals. The tax, enacted in 2019, imposes

As of 14 October 2026, Spain’s mandatory electronic invoicing regime (Verifactu) enters a critical implementation phase, requiring all businesses and self-employed professionals to issue structured e-invoices through certified platforms. The system, mandated under Law 18/2022 and Royal Decree 1007/2023, aims to reduce VAT fraud estimated at €8 billion annually while modernizing tax administration. However, compliance

On 14 October 2026, the Spanish Government published detailed implementing regulations for the housing fiscal package approved in Royal Decree-Law 6/2026, introducing targeted tax incentives for residential landlords who voluntarily reduce rents by at least 5% in stressed rental markets. The measures modify Personal Income Tax (IRPF) deductions and introduce new municipal surcharge reductions to

As of 13 October 2026, the Spanish Tax Agency has published the definitive implementation calendar for Verifactu, the mandatory electronic invoicing system under Law 18/2022 (Create and Grow Law) and Royal Decree 1007/2023. The regulation establishes binding deadlines for all taxpayers issuing invoices, with phased compliance dates based on annual turnover thresholds. Non-compliance carries penalties