Policy updates

Proposed

European Commission Proposes Tax Simplification Package (Direct Tax Omnibus & DAC Recast)

On 24 June 2026, the European Commission adopted legislative proposals to simplify EU direct tax rules via the ‘Omnibus’ Directive, including abolishing withholding taxes on dividends, interest and royalties between EU companies, extending Parent-Subsidiary Directive benefits, relieving R&D asset expensing, modernizing CFC & ATAD interest limitation rules; and recasting the Directive on Administrative Cooperation (DAC) to streamline reporting (incl. excluding Pillar Two-scope companies from certain DAC6 reporting, refining DAC7 thresholds, combining DAC4 & DAC9 notifications). Estimated cost savings to businesses ~€7.9 billion/year. ([taxation-customs.ec.europa.eu](https://taxation-customs.ec.europa.eu/news/european-commission-proposes-landmark-tax-simplification-package-streamline-compliance-and-boost-2026-06-24_en?prefLang=fi&utm_source=openai))

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Status requires verification

财政部 税务总局关于更新国产抗艾滋病病毒药物免税品种清单的公告

该公告将“多替拉韦钠”加入国产抗艾滋病病毒药物免征增值税的品种清单，自公告发布之日起至2027-12-31日有效，厂家生产和流通环节对该药品免征增值税。

Editorial impact label: Medium

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

European Commission proposes landmark tax simplification package to streamline compliance and boost competitiveness

The European Commission adopted proposed Direct Taxation Omnibus and DAC Recast directives to modernize EU direct tax rules, abolish withholding on cross-border payments between EU companies, expand tax merger neutrality, and reduce reporting burdens—especially for groups under the 15 % global minimum tax.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

European Commission proposes tax simplification package to streamline compliance and boost competitiveness

On 24 June 2026, the European Commission adopted proposals including the Direct Taxation Omnibus Directive and a Recast of the Directive on Administrative Cooperation (DAC). Key changes include abolishing withholding taxes on cross-border payments among EU companies, harmonising R&D expensing, modernising ATAD rules like interest limitation and CFC alignment with Pillar Two, codifying DAC directives into one instrument, and streamlining reporting obligations (e.g., raising thresholds for DAC7, reducing DAC6 hallmarks, easier DAC4/DAC9 filing).

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

European Commission proposes landmark tax simplification package: Direct taxation Omnibus & DAC Recast Package

On 24 June 2026 the Commission proposed two legislative changes. The **Taxation Omnibus** includes abolition of withholding taxes on cross-border payments between EU companies, new minimum standards for R&D-related investment tax relief, etc. The **Recast of the Directive on Administrative Cooperation (DAC)** consolidates DAC1-DAC9 into a single text, reduces reporting burdens (particularly for multinational enterprises subject to Pillar 2), raises thresholds for online sales reporting, and improves legal clarity and administrative cooperation.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

European Commission proposes landmark tax simplification package to streamline compliance and boost competitiveness

On 24 June 2026 the European Commission adopted proposals for a Tax Simplification Package that includes the Direct Taxation Omnibus Directive and a Recast of the Directive on Administrative Cooperation (DAC). Key changes include abolishing withholding taxes on cross-border payments of dividends, interest and royalties between EU companies; removing reporting obligations under certain DAC instruments for companies already subject to the Pillar 2 global minimum tax; adjusting thresholds and hallmarks in DAC6/DAC7; and simplifying reporting templates (e.g. combining DAC4 and DAC9 notifications). The package is expected to reduce compliance costs by about **€8 billion annually**. These changes aim to facilitate cross-border investment and reduce burdens especially on SMEs. Implications include needing to track when Member States transpose these directives, updating internal reporting systems, and assessing tax exposure under Pillar 2 and ATAD.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

Tax Simplification Package: Direct Taxation Omnibus & Recast of Directive on Administrative Cooperation (DAC)

On 24 June 2026, the European Commission adopted a package of EU-level proposals to simplify direct taxation via the Omnibus Directive, and to recast the Directive on Administrative Cooperation (DAC). Main measures include removal of withholding taxes on cross-border payments among EU companies (and pension institutions), full and immediate expensing for R&D-tangible assets, harmonised CFC rules, streamlined ATAD interest limitation rules, and reduced reporting under DAC6/DAC7/DAC4/DAC9 for entities already under Pillar Two regimes. Approximate savings are estimated at €7.9 billion annually, including ~€3.3 billion in reduced administrative costs. Impact: high.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

EU Tax Simplification Package: Direct Tax Omnibus & DAC Recast

On 24 June 2026, the European Commission proposed a package including the Direct Taxation Omnibus Directive and a Recast of the Directive on Administrative Cooperation (DAC), aiming to modernise EU direct tax rules (including abolishing withholding taxes between EU companies), reduce reporting obligations (especially for multinational groups under GMT/Pillar Two), and simplify compliance. Estimated savings: ~€7.9 billion annually, with ~€3.3 billion in administrative cost savings.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

European Commission Proposes Landmark Tax Simplification Package (Direct Taxation Omnibus & DAC Recast)

On 24 June 2026, the European Commission proposed the Tax Simplification Package including the Direct Taxation Omnibus Directive and the Recast of the Directive on Administrative Co-operation (DAC). Key changes include abolition of withholding taxes on intra-EU dividends, interest and royalties; full immediate expensing for R&D-related tangible assets; simplification of interest limitation rules under ATAD; and removal or streamlining of redundant DAC reporting (e.g. DAC6/DAC7 hallmarks, combining DAC4 & DAC9 notifications). Estimated compliance savings ~€7.9 billion annually. Proposals still pending adoption and transposition.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

EU Tax Simplification Package: Direct Taxation Omnibus and DAC Recast Proposal

On 24 June 2026, the European Commission adopted proposals for a Direct Taxation Omnibus Directive and a recast of the Directive on Administrative Cooperation (DAC). These aim to simplify EU direct tax rules (including abolition of withholding taxes on cross-border dividends, interest & royalties among EU companies), harmonize CFC regimes, update DAC reporting thresholds under DAC6/DAC7, and streamline Pillar 2 reporting obligations under DAC9. Expected to reduce compliance costs for businesses by approximately €7.9 billion annually.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

EU Tax Simplification Package proposing Direct Taxation Omnibus and DAC Recast

On 24 June 2026 the European Commission adopted a proposal for a package that includes the Direct Taxation Omnibus Directive and the Recast of the Directive on Administrative Cooperation (DAC), aiming to simplify EU direct tax rules—abolish withholding taxes between EU companies, harmonise interest limitation, CFC rules and extend tax neutrality in cross-border reorganisations—while trimming reporting burdens and modernising exchange of information frameworks. The proposals are submitted to the European Parliament and Council for adoption.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Proposed

EU proposal for recast of DAC & Taxation Omnibus to simplify administrative cooperation

In June 2026, the European Commission proposed a tax simplification package including a recast of Directive on Administrative Cooperation (DAC), with measures to reduce reporting obligations (especially for entities covered by Pillar 2), refine hallmarks in DAC6, raise thresholds under DAC7, harmonise DAC4/DAC9 filings, and improve TIN verification, aiming to cut compliance costs and simplify cross-border cooperation.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 24, 2026

Verification

Not recorded

Open cited source

Status requires verification

Land Remediation Relief: Summary of Responses

The government published its summary of responses to the consultation on Land Remediation Relief—reviewing its effectiveness, identifying barriers (narrow scope, complex rules, timing of relief for developer-traders), and confirming intention to reform the rules to better support brownfield development.

Editorial impact label: Medium

Published

Not recorded

Policy event

Not recorded

Effective

Jun 23, 2026

Verification

Not recorded

Open cited source

Proposed

Tax update 2026: simplification, modernisation and fairness

Published on 23 June 2026, this policy paper introduces consultations and draft legislation across multiple areas: capital gains relief gift holdover, ISA reforms, removing double taxation on overseas entities (including LLCs and reverse hybrids), modernising PAYE Settlement Agreements and Self Assessment payments, digitalising certain tax and customs processes, and simplifying inheritance tax reporting, among others.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 23, 2026

Verification

Not recorded

Open cited source

Status requires verification

Government backs high street with acceleration of cheap import reforms and crackdown on dodgy online sellers

On 23 June 2026, the UK government announced acceleration of reforms to remove customs duty relief on low-value imports (goods valued £135 or less) by October 2028, strengthened VAT rules for online marketplaces, and a review of VAT on land for social housing. These aim to level the playing field between online and high-street retailers, and ensure VAT and customs fairness.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 23, 2026

Verification

Not recorded

Open cited source

Status requires verification

Government backs high street with acceleration of cheap import reforms and crackdown on dodgy online sellers

The U.K. government accelerates reforms including scrapping duty relief on low value imports, new VAT policies, and new controls aimed at equalizing competition between online sellers and high‐street shops. Implications include higher customs duties for low‐value goods, tighter VAT enforcement, and business rate system improvements for local businesses.

Editorial impact label: Medium

Published

Not recorded

Policy event

Not recorded

Effective

Jun 23, 2026

Verification

Not recorded

Open cited source

Massachusetts

Status requires verification

Massachusetts Conformity to Certain Provisions in Public Law No. 119-21 (TIR 26-4)

Massachusetts decouples from retroactive and transition rules under P.L. 119-21 for domestic research & experimental expense deductions paid between January 1, 2022 and January 1, 2025. Also, state does not adopt certain modifications to qualified Opportunity Zone benefits for 2025-2026 taxable years.

Editorial impact label: Medium

Published

Not recorded

Policy event

Not recorded

Effective

Jun 23, 2026

Verification

Not recorded

Open cited source

Proposed

Summary of tax update 2026: simplification, modernisation and fairness

On 23 June 2026 HMRC announced a package of tax & customs measures to reduce administrative burdens, improve fairness and modernise the system. Changes include consultations on reverse hybrid structures to remove double taxation (e.g. US LLCs), review and uprating of Benchmark Scale & Overseas Scale Rates, more timely payments for Self Assessment, reform of distributions framework, digitising “option to tax” for VAT, and many other fairness & modernisation proposals. See full list under the HMRC tax update.

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 23, 2026

Verification

Not recorded

Open cited source

Status requires verification

UK launches Tax Update 2026: simplification, modernisation and fairness

On 23 June 2026, the UK government published ‘Tax Update 2026: simplification, modernisation and fairness’ introducing measures aimed at simplifying tax and customs systems, modernising digital processes, and enhancing fairness. Key proposals include: consultation on modernising the distributions framework to clarify payments to non-corporate shareholders; digitalising VAT option-to-tax notices; consultation on treatment of US LLCs and reverse hybrids to avoid double taxation; introduction of digital ATA Carnets from 1 June 2026; and improvements to the Duty Reimbursement Scheme for Northern Ireland goods. Some changes are implemented, others are under consultation. [UK HMRC / Treasury]

Editorial impact label: High

Published

Not recorded

Policy event

Not recorded

Effective

Jun 23, 2026

Verification

Not recorded

Open cited source

Proposed

VAT treatment of land intended for the construction of new social housing

The government has launched a consultation to introduce a **new zero-rate of VAT** on bare land intended for construction of social housing. The aim is to remove the cashflow barrier created by current ‘golden-brick’ rules and enable registered social housing providers to take title earlier, accelerating social housing delivery. Consultation runs from 23 June 2026 to 18 August 2026. It is not yet enacted. Implications include reduced upfront VAT costs for land transactions, the need for registration or certification for social housing providers, and stricter criteria to prevent abuse.

Editorial impact label: Medium

Published

Not recorded

Policy event

Not recorded

Effective

Jun 23, 2026

Verification

Not recorded

Open cited source