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The United Kingdom has announced a significant reform of the tax treatment of foreign sovereign investors as part of its Autumn Budget 2026, presented on 28 October. The proposal seeks to replace the current non-codified sovereign immunity regime with a new statutory framework, providing greater legal certainty and transparency while expanding the circumstances in which foreign states may be subject to UK taxation.

The United Kingdom has announced a series of significant tax changes as part of its Autumn Budget 2026, presented by Chancellor of the Exchequer John Healey on 28 October. The measures affect individuals, financial institutions and businesses, with a particular focus on increasing tax revenues while maintaining incentives for investment and business activity.

Indian tax authorities have intensified their scrutiny of international spirits companies following an investigation into the customs classification of bulk Scotch whisky imports. The proceedings involve Diageo and Pernod Ricard, two of the leading players in India's alcoholic beverages market, and raise questions about the scope of the tariff reductions introduced under the India-UK trade agreement.

In early October 2026, the European Public Prosecutor’s Office (EPPO) carried out a major cross-border operation targeting suspected criminal organisations allegedly involved in a €410 million VAT carousel fraud scheme involving mobile phones and electronic devices. The operation, known as Hermes, resulted in 62 suspects being detained and more than 300 searches being conducted across eight European countries.

The Court of Justice of the European Union (CJEU) has clarified the scope of the anti-abuse provision in the EU Parent-Subsidiary Directive, confirming that a company’s genuine economic activity does not, by itself, prevent tax authorities from denying an exemption from withholding tax on dividends. In its judgment of 15 October 2026 in Case C-203/25, NEO Group, the Court emphasised the need to assess the full chain of transactions and all relevant circumstances when determin

The Organisation for Economic Co-operation and Development (OECD) has published a new report examining how corporate tax policy can contribute to a more dynamic and competitive business environment. Released on 15 October 2026, the OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors reviews developments in the organisation’s tax work since April and highlights the relationship between corporate taxation, business investment and economic growt

The Council of the European Union has removed Panama and Vietnam from its list of non-cooperative jurisdictions for tax purposes, recognising progress made by both countries in addressing outstanding concerns over international tax transparency and good governance. The decision was announced on 9 October 2026 as part of the Council’s latest review of the EU tax list.

Germany, Estonia, Latvia, Lithuania and Hungary face EU action over sanctions considered insufficiently effective and dissuasive under the Directive on Administrative Cooperation

Investigation into the alleged sale of more than one million used mobile phones as new reveals cross-border VAT fraud involving shell companies and online marketplaces

A new excise duty of £2.20 per 10ml now applies to vaping liquids manufactured or imported into the United Kingdom

The temporary measure targets excess profits in the fuel sector and is intended to help finance measures aimed at containing fuel prices

Foreign individuals receiving dividends from foreign-invested enterprises will now be subject to a 20% individual income tax

Indian authorities are examining whether the companies incorrectly applied a 5% preferential tariff instead of a 15% duty on imported OLED display components

Belgian authorities have seized €65.2 million linked to McKinsey as part of an ongoing French preliminary investigation into suspected aggravated tax fraud and money laundering.

New regulations establish detailed requirements for entities receiving certain categories of foreign-source passive income

Mounting Debt Pressures Drive New Fiscal Debate

Tashkent Seeks to Become Central Asia’s Next Financial Hub

A Historic Shift in Japanese Tax Policy

A Major Judicial Setback for Aggressive Tax Structures

Physical Presence Remains Essential Under Tax Treaties