Author: Europe News Desk

BRUSSELS – The European Union’s VAT in the Digital Age (ViDA) reforms are set to expand the scope of the One-Stop Shop (OSS) VAT return system by July 2028, bringing significant changes for businesses involved in cross-border e-commerce and B2B stock movement. This extension will cut down the need for foreign VAT registrations and reduce the administrative burden for hundreds of thousands of companies operating across the EU. The EU’s ViDA reforms, which aim to modernize VAT processes, will see the full implementation of the Single VAT Registration (SVR) starting in 2025, with a series of key milestones leading to…

LONDON – In a move aimed at easing the impact of trade tariffs and providing a more gradual transition to electric vehicles (EVs), UK Prime Minister Keir Starmer has announced a delay in the country’s ban on hybrid cars. Originally set for 2030, the ban will now be pushed back to 2035, giving manufacturers and businesses more time to meet the government’s ambitious EV targets. “That’s a new step that we’re taking,” Starmer said during a press briefing on April 7, 2025, explaining that the decision to delay the ban comes as part of a broader response to rising trade…

BRUSSELS – The European Union is preparing to impose targeted retaliatory tariffs on up to $28 billion of U.S. goods, directly responding to President Donald Trump’s steel and aluminium tariffs. Set for approval by EU leaders later this week, the proposed countermeasures aim to defend EU industries against what it calls “damaging and unjustified” U.S. tariffs. The EU’s retaliatory actions come amid fears of escalating trade tensions that could send shockwaves through the global economy. “Given the uncertainty in the trade relations with the U.S., we are prepared to act decisively,” said EU Commission President Ursula von der Leyen. These…

LONDON – British house prices unexpectedly slipped in March 2025, as the housing market cooled following a buying frenzy tied to the expiration of tax incentives for homebuyers. According to new data from mortgage lender Halifax, house prices fell by 0.5% from February—missing expectations of a slight increase. A Reuters poll of economists had forecast a 0.1% rise. Halifax also revised February’s figures downward, showing a 0.2% drop instead of the previously reported 0.1%. Despite the monthly dip, house prices in March were still up 2.8% compared to a year earlier, maintaining the same annual growth pace seen in February.…

Introduction: A Court Battle Over VAT on Private School Fees LONDON – A landmark legal case has brought the UK government’s VAT policy on private school fees to the forefront. Families and educators argue that the 20% tax, introduced in January 2025, infringes upon the fundamental right to education, especially for students with special educational needs and disabilities (SEND), and those attending faith-based schools. The case is being heard by the High Court, where leading barrister Lord David Pannick KC has called the policy “discriminatory.” Context: VAT on Private School Fees – A Controversial Policy The UK government introduced VAT…

VADUZ – Liechtenstein Enacts EU Public Country-by-Country Reporting Law, Tightening Tax Transparency for MNEs Liechtenstein has officially incorporated the EU Public Country-by-Country Reporting (PCbCR) Directive into national law, marking a major step toward increased tax transparency. Effective 1 July 2024, the new legislation mandates that certain multinational enterprises (MNEs) publicly disclose detailed income tax data, provided their global consolidated revenues exceed EUR 750 million. However, the law’s full implementation still awaits formal approval by the EEA Council. The amendment to Liechtenstein’s Law on Persons and Companies (PGR) aligns the country with EU-wide tax transparency efforts and will impact MNEs operating…

BELGRADE – Serbia is attracting many entrepreneurs, digital nomads, and global investors in 2025 thanks to its favorable tax regime, streamlined residency options, and strategic European location. With no wealth tax, flat 15% corporate tax, and personal income tax capped at 20%, Serbia is fast becoming a prime destination for those seeking tax residency within Europe. Newcomers can establish tax residency via simple routes such as company formation or real estate investment—without any minimum capital threshold. Why Serbia is Gaining Momentum Among Global Tax Planners Once part of Yugoslavia, Serbia has spent the past two decades rebuilding itself into a…

BUCHAREST – Romania is urging the European Commission (EC) to grant a temporary suspension of CO₂ certificate obligations on electricity exported to Moldova, as the neighboring country battles a severe energy crisis. Speaking on January 8, Energy Minister Sebastian Burduja confirmed that both Romania and Moldova have formally requested a derogation from EU emission trading rules that currently apply to Romanian-generated electricity—even when sold to a country in emergency. Why the Request Matters Moldova is experiencing a state of emergency in its energy system, triggered by the collapse of natural gas imports from Russia. To stabilize the grid, Moldova now…

PODGORICA – Montenegro-based logistics firm Zetatrans has posted a 10% increase in after-tax profit for 2024, driven by higher revenue from transportation and logistics services, according to the company’s latest stock exchange filing. Controlled by Slovenia’s logistics giant Intereuropa, Zetatrans reported a net profit of €1.287 million for 2024, up from €1.166 million in 2023, underscoring solid operational performance in a year of growing regional logistics demand. Strong Revenue Growth Boosts Bottom Line Labor-related costs also rose modestly, with wages and contributions increasing to €1.73 million, up from €1.65 million in 2023. Market Reaction & Ownership Structure Zetatrans’ shares, listed…

LONDON – The UK government has formally announced the suspension of its double taxation treaty with Belarus, a move set to take effect in April 2025 and expected to significantly impact cross-border taxation for individuals and companies operating between the two nations. In a diplomatic note received by Belarus’ Ministry for Taxes and Duties, the United Kingdom confirmed its decision to fully suspend the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion—a bilateral agreement signed in Minsk on 26 September 2017. Why Is the Treaty Being Suspended? Although UK authorities have not released a detailed…