Author: Europe News Desk

In a significant legislative move to reduce litigation costs and delays, Greece’s Ministries of Justice and Finance have introduced a new mandatory mediation process for cadastral disputes involving public bodies and private citizens. The bill, passed yesterday in Parliament, requires the State, Local Government Authorities, and Public Law Entities to pursue mediation before resorting to court action. Under the new framework, disputes related to cadastral registrations must first undergo an initial mediation session conducted by a certified cadastral mediator registered with the Ministry of Justice’s special registry. This step is compulsory before any formal litigation. A State Legal Advisor or…

Making Tax Digital for Income Tax (MTD ITSA) is a new HMRC initiative to modernize how sole traders and landlords report their income and expenses. From 6 April 2026, some individuals with self-employment or property income above certain thresholds will be required to digitally use MTD ITSA to submit their tax information. What Is Making Tax Digital for Income Tax? MTD ITSA requires taxpayers or their agents to use compatible software to: Who Needs to Sign Up and When? Signing up is voluntary, allowing early adopters to test and prepare for the upcoming requirement. Eligibility is based on total annual…

As part of HMRC’s ongoing digital transformation, software developers working with the Self Assessment (SA) online service must align with the latest technical specifications for partnership tax returns. These specifications ensure consistency, security, and accuracy when integrating third-party tax software with HMRC’s systems. This guide explains the essential requirements, protocols, and updates relevant to software vendors developing or maintaining products that support the electronic filing of SA800 partnership returns. What Are Partnership Returns? Partnership returns (SA800) report the income and expenses of a business partnership. While HMRC doesn’t tax partnerships directly, each partner must report their share of profits or…

Deputy Prime Minister Angela Rayner’s memo reveals deepening cabinet divisions over Labour’s economic direction as public spending cuts loom. In a move highlighting growing friction at the heart of the UK government, Deputy Prime Minister Angela Rayner has urged Chancellor Rachel Reeves to consider a suite of wealth tax reform proposals ultimately left on the shelf in favor of public spending restraint. A leaked memo sent by Rayner to Reeves ahead of the March spring fiscal statement outlined eight potential revenue-raising measures, estimated to bring in £3bn to £4bn annually. The suggestions ranged from scrapping dividend tax allowances to reinstating…

In a bold legislative maneuver with potentially far-reaching consequences for Spain’s housing market and tourism economy, the Spanish government has proposed a 21% value-added tax (VAT) on short-term tourist rentals, doubling the current hotel VAT rate and marking a significant pivot in housing policy. If passed, the tax will apply to all tourist accommodations rented for fewer than 30 days, directly targeting the booming home-sharing and vacation rental market. Hotel rooms are taxed at 10% VAT, while short-term rentals in most of mainland Spain are VAT-exempt. The policy, embedded in a broader legislative bill introduced by the Socialist-led minority government,…

North Macedonia has signed a landmark Strategic Partnership Agreement with the United Kingdom, securing a financial framework of up to €6 billion to fund key infrastructure and development projects. This agreement represents a significant opportunity for the country’s long-term economic and fiscal growth. Project-Based Financing Structure According to Finance Minister Gordana Dimitrieska-Kocoska, the funding is project-based, meaning that funds will only be drawn as specific projects are implemented. “Borrowing begins only when payments start,” she emphasized, underlining the importance of responsible and purposeful spending. Favorable Interest Rates Under Negotiation The exact interest rate is still being negotiated. Still, the minister…

In a significant diplomatic and fiscal milestone, the Principality of Andorra has signed a new Double Taxation Agreement (DTA) with the United Kingdom to eliminate tax duplication and reinforce cross-border financial transparency. The accord is poised to bolster investor confidence and deepen Andorra’s integration into the global economic system. During a bilateral meeting with James Murray, the UK’s Secretary of State for International Financial Affairs, the agreement was formally signed by Noëlia Souque, Andorra’s Secretary of State for the Treasury. Negotiations for the treaty began at the start of the current legislative term and culminated in what officials describe as…

At a recent seminar hosted by the Moscow Agency for Public Project Implementation, a body under the city’s Department of Executive Authorities, tax officials outlined updates and compliance issues surrounding Russia’s special tax regimes and the Unified Tax Account (ENS) operation. Representatives from Moscow’s Tax Inspectorate No. 16 briefed attendees on four distinct taxation models designed to support small businesses and the self-employed: Heightened Scrutiny on Professional Income Tax (NPD) Use Officials emphasized the potential misuse of the Professional Income Tax regime (NPD), particularly the growing practice of businesses engaging former employees as self-employed contractors to bypass employer tax obligations.…

In a move that underscores the UK government’s commitment to nurturing its creative industries, new guidelines and incentives have been introduced for video game developers through the Video Games Expenditure Credit (VGEC). Effective January 1, 2024, the scheme is poised to bolster the cultural and economic fabric of Britain’s rapidly growing gaming sector. The VGEC is part of the broader creative industry tax reliefs offered by HMRC and administered in partnership with the British Film Institute (BFI). It allows qualifying UK-based video game companies to claim a tax credit of up to 34% on eligible development costs, a shift from…

The Tax Administration of Kosovo (TAK) has reminded all taxpayers, including non-business individuals, business entities, and legal persons, of their legal obligations to declare and pay taxes on income generated from electronic supplies. This call to compliance is part of TAK’s intensified efforts to curb undeclared earnings in the rapidly expanding digital economy. Electronic supplies encompass various digital goods and services such as software, streaming content, online advertising, and other electronically delivered products. With the digital economy growing swiftly, tax authorities worldwide are adapting their enforcement strategies to capture revenue from these often hard-to-track income streams. In a statement released…