Author: Europe News Desk

Australia’s Trade Minister has emphasized the significant role of the country’s steel and aluminum exports in bolstering the U.S. economy, particularly in the creation of “good paying American jobs.” This statement came as Australia intensifies its efforts to persuade Washington for an exemption from President Donald Trump’s recently announced tariffs on these essential metals. In a recent announcement, President Trump declared a new 25% tariff on all steel and aluminum imports into the United States, a move that escalates his administration’s trade policy overhaul. This tariff is in addition to existing duties already affecting these crucial sectors. Minister Don Farrell…

What You Need to Know About VAT Exemptions on Healthcare, Education, and More in Greece Greece, like many countries, has a Value Added Tax (VAT) system, but there are some important exemptions that businesses and individuals should be aware of. These exemptions help reduce the tax burden in key sectors such as healthcare, education, social welfare, and financial services. In this article, we will walk you through the key VAT exemptions in Greece, explain who benefits from them, and how businesses can navigate these rules effectively. Key VAT Exemptions in Greece Greece offers VAT exemptions for specific goods, services, and…

Managing taxes in Serbia has never been easier! The E-Porezi portal, developed by the Serbian Tax Administration, is transforming tax compliance by providing a fully digital, secure, and user-friendly platform for individuals and businesses. Whether you’re a freelancer, small business owner, or corporate taxpayer, E-Porezi streamlines tax filing, payment tracking, and compliance management—all from the comfort of your home or office. What is E-Porezi? E-Porezi is Serbia’s official electronic tax services platform, designed to eliminate paperwork and make tax compliance more efficient. It enables taxpayers to: ✔ File tax returns electronically using a secure digital signature✔ Track submission status and…

The fiscal landscape for 2025 is undergoing significant changes with the approval of Law no. 214 of July 31, 2024. This new law introduces several updates aimed at easing the burden on businesses and individuals while improving the tax system in line with modern needs. The most notable updates focus on VAT, excise duties, tax exemptions, and customs regulations, which are expected to have a significant impact across various sectors. Here’s a closer look at the key measures introduced by the new law: 1. Increased Exemptions for Individuals To alleviate the impact of inflation, the government is increasing the exemptions…

Tax regulations are constantly evolving, and staying informed is essential for businesses and individuals alike. To help taxpayers navigate the latest changes, the journal “Tax Policy and Practice” is hosting a free webinar on February 12, 2025, focusing on taxpayer registration and compliance in Russia. What’s on the Agenda? The event will be led by Denis Kuzmichyov, head of the Taxpayer Registration and Accounting Department at the Russian Federal Tax Service (FNS). Topics include: Who Should Attend? This webinar is ideal for: Key Details Don’t miss this opportunity to stay ahead of regulatory changes and ensure compliance. Register now to…

Edinburgh is preparing to implement a tourist tax, proposed to be set at 5% of accommodation costs, with the final details of the levy recently confirmed. This charge, which is similar to those already in use in countries such as Germany, Spain, and Italy, is aimed at visitors staying in hotels, bed and breakfasts, self-catering accommodations, and properties listed on platforms like Airbnb. City councillors are scheduled to meet later this month to vote on whether to endorse this new tax, which is slated to go into effect on July 24, 2026. The local authority aims to generate approximately £50…

Self-employment in Russia is booming, with over 12.5 million people now registered under the special tax regime known as the “Professional Income Tax” (NPD). What’s even more interesting? More than half of these self-employed individuals are under 35. With a simple registration process, low tax rates, and minimal bureaucracy, the NPD system has become a game-changer for freelancers, gig workers, and entrepreneurs looking for flexibility and financial independence. Who Are Russia’s Self-Employed? According to recent data: This data highlights how self-employment is becoming a preferred choice across different generations, with young professionals leading the way. What Do They Do? The…

In an impressive collaboration across 30 countries, Operation SHIELD V has shown how customs enforcement is not only vital for border security but also crucial for fighting tax evasion and protecting public health. This operation, coordinated by Europol, recently prevented over 53,000 counterfeit medications from entering Portugal, underscoring the significant role of the country’s Tax and Customs Authority in tackling illegal trade. But what does this mean for the global community and the fight against tax fraud? A Sneak Peek into Operation SHIELD V The fifth edition of Operation SHIELD, spearheaded by Europol, focused on disrupting the trade of counterfeit…

In a major reform aimed at cutting red tape and boosting productivity, Brussels has announced that more than 80% of EU companies eligible for the Carbon Border Adjustment Mechanism (CBAM) will be exempt from compliance costs and reporting requirements. This move, led by EU Tax Commissioner Wopke Hoekstra, focuses on simplifying regulations while maintaining the bloc’s commitment to climate objectives. Why the Exemption? CBAM was introduced to level the playing field for EU industries facing carbon pricing, but compliance has proven to be complex and costly. Hoekstra highlighted that less than 20% of companies in scope contribute to over 95%…

If you own rental property in Ireland but live abroad, you are classified as a non-resident landlord. This means you must declare your rental income to the Revenue Commissioners and comply with specific tax requirements. Understanding your tax obligations will ensure you avoid penalties and make the most of available tax reliefs. Key Topics Covered in This Guide: What is a Non-Resident Landlord? A non-resident landlord is someone who owns rental property in Ireland but resides in another country (including Northern Ireland). While your tax responsibilities are similar to those of Irish-resident landlords, there are additional rules regarding how rental…