EU Countries Still Mulling Over Tobacco Tax Transition Periods

Provisions allowing countries to extend their phase-in of steep tax increases on tobacco are “still under consideration,” according to the latest draft of the tobacco tax bill seen by Bloomberg.

Global Digital Tax Talks ‘Challenging’, OECD Chief Acknowledges

International negotiations to tax tech giants are challenging, OECD Secretary General Mathias Cormann said Tuesday, but warned against unilateral action taken by countries to impose digital services taxes.

UK Proposes Higher Mansion Tax for Non-Resident Property Owners

The UK plans to impose higher mansion tax on non-residents who own expensive homes in England, according to a proposal released Tuesday.

Italian Court Rules Group Guarantee Avoids Transfer Pricing

An unremunerated intra‑group guarantee from a subsidiary to its parent isn’t subject to transfer pricing rules if it’s backed by valid economic reasons and serves the group’s overall business interests, Italy’s Supreme Court has ruled.

UK Wants More Time for Plan to Boost Wealthy Taxpayer Compliance

The UK won’t publish its plan for improving tax compliance among wealthy individuals until later this year, according to the tax office’s top official.

Tax Developments

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Brazil Tax Agency Updates Digital Tax Bookkeeping System

The Brazilian Federal Revenue Office May 12 announced the release of an updated digital tax bookkeeping system (ECF version 12.1.4) for reporting tax information on corporate income tax (IRPJ) and ...

Brazil Tax Agency Updates Digital Accounting Bookkeeping Program

The Brazilian Federal Revenue Office May 12 announced the release of the updated digital accounting bookkeeping program (ECD version 10.4.0) for bookkeeping of accounting documents. The updates include: 1) the ...

Dominican Republic Senate Approves Protocol to 2005 Air Transport Agreement With Cuba

The Dominican Senate May 18 approved the protocol to the 2005 air transport agreement with Cuba, signed June 29, 2023. [Dominican Republic, Senate, 05/18/26]

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Bitcoin Grows More Dependent on Saylor’s Buying Machine (1)

For most of its history, Bitcoin’s price was driven by a sprawling cast of buyers: idealists, speculators, early adopters, and, more recently, institutional investors looking for a new portfolio hedge. Demand was fragmented and hard to predict. In 2026, it is neither.

Matt Levine’s Money Stuff: Don’t Free Little Joe

Matt Levine discusses prediction markets and people seeking to manipulate reality in order to win their bet, selling in interest in the future appreciation of your home, reconstructing pensions, and Bitcoin leverage.

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