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Numeral Raises $100 Million as Investment in AI Tax Compliance Accelerates
Tax technology continues to attract significant investment as businesses look for ways to automate increasingly complex indirect tax obligations. The latest example is Numeral, which has secured $100 million in Series C funding, bringing its total funding to $157 million. The round was led by…
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Poland Extends KSeF Penalty Deferral Until End of 2027
Poland’s Ministry of Finance has announced plans to extend the period during which financial penalties for errors related to the use of the Krajowy System e-Faktur (KSeF) will not apply until 31 December 2027. The decision represents a significant extension of the transitional approach accompanying Poland’s…
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India Wants Global-Scale Accounting Firms. The Regulatory Framework May Be About to Change
India has thousands of chartered accountancy firms, a large professional talent pool and one of the world’s biggest corporate markets. What it has not yet produced is an Indian professional services group operating internationally at a scale comparable with the largest global networks. That gap…
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EU Customs Reform Enters into Force: New Customs Authority, Data Hub and E-Commerce Rules
The European Union has formally entered a new phase of customs administration following the entry into force of its comprehensive Customs Reform. Following adoption by the European Parliament and the Council on 16 September 2026 and publication in the Official Journal, implementation of the new…
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Australia Finalises Software Royalty Ruling and Introduces New ATO Risk Framework
The Australian Taxation Office has finalised its position on the treatment of cross-border software payments, issuing Taxation Ruling TR 2026/2 alongside a revised draft compliance framework, PCG 2026/D4. The developments are particularly relevant for multinational technology groups using Australian distributors, resellers or other intermediaries to provide…
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Sovos Acquires Blue dot as Tax Technology Moves Deeper Into Transaction Intelligence
Sovos has acquired Blue dot, adding VAT recovery and AI-based transaction analysis to its growing tax compliance technology portfolio. The deal is notable for more than the addition of another VAT solution. It reflects a wider shift taking place in tax technology. As e-invoicing and…
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PwC US and PwC India Form Joint Venture to Create Integrated Advisory Platform
PwC US and PwC India have announced a new joint venture that will combine significant parts of their advisory operations in India, creating a more integrated platform serving clients across India, the United States and other international markets. The transaction brings together PwC India’s Consulting…
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Silver Lake to Merge Cegid and Silae in €10 Billion European Software Deal
Silver Lake is bringing together two major French business software groups, Cegid and Silae, in a transaction that would create a European technology company valued at more than €10 billion. The combination is particularly significant for the tax, accounting and finance technology market. The new…
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McKinsey Faces a €65 Million Seizure in Tax Probe
Belgian authorities have seized €65.2 million in connection with a French investigation into suspected aggravated tax fraud and money laundering involving consulting firm McKinsey, according to French and Belgian prosecutors. The amount seized corresponds to approximately 96% of the tax loss estimated by French prosecutors, making…
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Should U.S. Taxpayers Pay for Tax Assurance? TIGTA Questions the Cost of the IRS CAP Program
A U.S. government watchdog is questioning whether the Internal Revenue Service can demonstrate that one of its flagship cooperative compliance programs for large corporations delivers sufficient value for the resources devoted to it. In an audit released on August 5, 2026, the Treasury Inspector General…
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Slovak Authorities Say E-Invoicing Could Cost Businesses as Little as €0 per Month
Slovakia’s Financial Administration says businesses should not assume that the country’s upcoming electronic invoicing requirements will require expensive or complicated technology. In guidance published on 3 September 2026, the authority presented three model scenarios illustrating what it believes different types of businesses could need —…
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EU Gives Final Green Light to Landmark Customs Reform
The Council of the European Union has given its final green light to a major reform of the EU customs framework, paving the way for one of the most significant changes to the Customs Union in decades. Approved on 3 September 2026, the reform introduces…
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Ryan Completes Svalner Atlas Acquisition as 500 Tax Professionals Join the Firm
Ryan has completed its previously announced acquisition of Svalner Atlas Advisors, significantly expanding the US-headquartered tax services and software provider’s presence across the Nordic and Benelux markets. The completion brings approximately 500 Svalner Atlas professionals into Ryan and adds a business serving more than 4,000…
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EY Invests $100 Million to Reward Human Skills in the Age of AI
As artificial intelligence transforms professional services, EY is putting significant money behind a different part of the workforce equation: human capabilities. EY plans to invest $100 million in employee rewards and recognition, targeting professionals who demonstrate future-focused skills, leadership, innovation and measurable impact. Technology adoption…
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Accounting AI Startup Rillet Hits $1 Billion Valuation
Accounting AI startup Rillet has reached unicorn status after raising $100 million in a Series C funding round that values the company at $1 billion. The financing represents another significant bet on AI-native finance technology and comes only around two years after Rillet’s public launch.…
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France E-Invoicing: The September 2026 Deadline Has Arrived
France’s long-awaited electronic invoicing reform reaches a critical milestone on 1 September 2026, bringing one of Europe’s largest economies into a new era of digital VAT compliance. From that date, large companies and mid-sized companies must issue electronic invoices, while all companies within the scope…
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Deloitte to Pay $21.5M to Resolve U.S. Employment Discrimination Allegations
Deloitte has agreed to pay $21.5 million to the United States to resolve allegations that certain employment practices involving race and sex conflicted with anti-discrimination obligations applicable to federal contractors. The settlement, announced by the U.S. Department of Justice (DOJ) on August 25, involves Deloitte LLP,…
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Cadbury Schweppes: When Does EU Tax Planning Become Artificial?
Can a company establish a subsidiary in another EU Member State specifically to benefit from a lower corporate tax rate? In Cadbury Schweppes (C-196/04), the European Court of Justice addressed this fundamental question and established a principle that continues to influence the design and application…
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Canada Strikes Back: Counter-Tariffs of Up to 50% on $27.6 Billion of U.S. Goods
Canada is escalating its trade response to the United States, announcing counter-tariffs of 15%, 25% and 50% on U.S.-origin goods covering $27.6 billion in imports. The measures take effect at 12:01 a.m. on September 8, 2026 and are designed to match U.S. tariffs imposed on Canadian…
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594 IRS Devices Remain Missing After Major Workforce Reductions — TIGTA Flags Taxpayer Data Risk
A major reduction in the US Internal Revenue Service workforce has left the agency facing another challenge: hundreds of computers and mobile devices assigned to departing employees remain unaccounted for. An audit by the Treasury Inspector General for Tax Administration (TIGTA) identified 594 missing IT assets associated…
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KPMG Australia Reportedly Plans 500 Job Cuts as Tax Division Is Spared
KPMG Australia is reportedly preparing for a significant restructuring that could affect around 500 roles, as the Big Four firm responds to falling revenues and broader pressures on its Australian business. Approximately 50 partners and 450 staff in client-facing positions could reportedly be affected by the…
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France’s Tax Authority Hacked
France’s tax administration has confirmed a significant cybersecurity incident involving unauthorised access to its information systems, exposing sensitive tax and personal information relating to more than 350,000 individuals and 250,000 businesses. According to a FAQ issued by the Direction générale des Finances publiques (DGFiP) on 17…
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South Africa Sets Out Roadmap for E-Invoicing, Near Real-Time VAT Reporting and Future Auto-Assessment
South Africa is preparing for a fundamental transformation of its VAT administration system, with structured e-invoicing, near real-time e-reporting and decentralised invoice clearance at the centre of a new model ultimately intended to support automated VAT assessments. The South African Revenue Service (SARS) published its Consultation…
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UK Turns to KPMG and EY with £456m
The UK Government is making a sizeable investment in the skills of its own workforce — and two Big Four firms will play a central role. KPMG and EY have been selected to deliver a civil service training programme with a combined potential value of…
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EU Packaging and Packaging Waste Regulation: What Businesses Need to Comply With From 12 August 2026
The EU’s Packaging and Packaging Waste Regulation (PPWR – Regulation (EU) 2025/40) reaches a major implementation milestone on 12 August 2026, when the Regulation generally becomes applicable across the European Union. The PPWR replaces Directive 94/62/EC and establishes a directly applicable, harmonised framework covering packaging design,…
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South Korea’s 2026 Tax Revision Bill: Strategic Investment Incentives Meet Major Property Tax Reform
South Korea has unveiled a wide-ranging 2026 Tax Revision Bill, combining new incentives for strategic industries and regional investment with significant reforms to real estate taxation, international tax rules and tax enforcement. Published by the Ministry of Finance and Economy on 3 August 2026, the…
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From One-Man Operation to €112 Million Exit: Marosa’s Rise in VAT Compliance
Around ten years ago, Marosa was essentially a one-man operation built around deep VAT expertise and a vision to simplify indirect tax compliance. Today, it has become one of Europe’s leading VAT compliance providers, culminating in a €112 million acquisition by Wolters Kluwer. The deal…
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Halifax: The EU VAT Case That Defined the Abuse of Rights Principle
In 2006, the European Court of Justice delivered one of the most influential VAT judgments in EU tax history. In Halifax plc and Others v Commissioners of Customs & Excise (C-255/02), the Court addressed a fundamental question: can transactions that formally comply with VAT legislation…
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Ireland’s Tax Revenue Rises 6% as Pillar Two Top-Up Tax Starts to Show
Ireland’s tax revenues continued to grow strongly in the first seven months of 2026, supported by higher income tax and VAT receipts and the first significant contribution from the new 15% global minimum tax regime. Excluding the one-off proceeds from Apple back taxes, Ireland’s tax…
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China’s Offshore Trust Tax Shake-Up Puts Private Wealth Structures Under Pressure
China’s new tax rules for offshore trusts are sending a clear message to wealthy families with assets held overseas: offshore structures are becoming much harder to separate from the Chinese tax system. On 24 July 2026, the Ministry of Finance (MOF) and State Taxation Administration…
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Vertex Delivers Strong Q2 Results as E-Invoicing Drives Long-Term Growth
Vertex (NASDAQ: VERX) reported solid second-quarter 2026 financial results, delivering double-digit revenue growth, expanding profitability, and raising its full-year earnings outlook. The company also highlighted continued investment in e-invoicing and artificial intelligence (AI) as central pillars of its long-term growth strategy. Q2 Results Show Revenue…
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Accenture’s AI Reality Check: Why Strong Earnings Were Not Enough
Accenture delivered the kind of quarterly results that would normally satisfy investors. Revenue increased, earnings exceeded expectations and the company announced one of its largest cybersecurity investments to date. Yet the market responded by sending the stock down nearly 18%. The sharp decline suggests investors…
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Amgen Reaches $74 Million Settlement in Shareholder Case Linked to $10.7 Billion IRS Tax Dispute
Amgen Reaches $74 Million Settlement in Shareholder Case Linked to $10.7 Billion IRS Tax Dispute Amgen has agreed to pay $74 million to settle a shareholder class action alleging that the biotechnology company failed to adequately inform investors about the financial risks arising from a long-running…
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25 U.S. States Launch Fresh Legal Challenge Against Trump’s Global Tariffs
A coalition of 25 Democratic-led U.S. states has opened another front in the legal battle over President Donald Trump’s trade policy, filing a lawsuit that seeks to block his latest package of global tariffs. The states argue that the administration has once again stretched presidential…
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Furniss v. Dawson: The House of Lords Case That Extended the Ramsay Principle
Furniss v. Dawson [1984] AC 474 (UKHL 4) is one of the most influential decisions in UK tax law. The House of Lords extended the Ramsay Principle, confirming that courts may disregard artificial intermediary steps inserted into a pre-arranged transaction where those steps serve no commercial…
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Airbus Fined Record £6.4 Million by HMRC Over UK Export Control Breaches
The UK has imposed a record £6.4 million civil settlement on Airbus Operations Limited after the aerospace manufacturer admitted to breaches of export control licence conditions relating to the transfer of controlled technology. The settlement, agreed with HM Revenue & Customs (HMRC), is the largest out-of-court…
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EU Adopts Implementing Regulation for ViDA Special VAT Schemes: New OSS and Transfer of Own Goods Reporting Rules
The European Commission has adopted Commission Implementing Regulation (EU) 2026/1869, introducing the technical and administrative framework needed to implement key VAT in the Digital Age (ViDA) reforms affecting the EU’s special VAT schemes. Rather than introducing new VAT policy, the Regulation updates the detailed operational…
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Grant Thornton’s $5 Billion CBIZ Deal Signals a New Era for U.S. Accounting Firms
The U.S. accounting industry is getting another major shake-up. Grant Thornton Advisors has agreed to acquire CBIZ in a $5 billion all-cash transaction, creating the fifth-largest accounting, tax and advisory firm in the United States. The deal is another sign that scale has become a…
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Cost Cutting Helps Drive Reported Rise in PwC UK Partner Pay
PwC UK’s equity partners are reportedly on track to receive average profit distributions of around £900,000 for the financial year ending 30 June 2026, according to a report first published by the Financial Times. If confirmed when PwC publishes its annual results later this year, the…
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HMRC Recovers £8.3 Million in Crypto Tax Settlements as UK Tightens CARF Reporting Rules
The UK’s tax authority is significantly expanding its oversight of cryptocurrency transactions, with new figures showing that increased compliance activity is already generating substantial additional tax revenues. HM Revenue & Customs (HMRC) has recovered £8.3 million through crypto-related tax settlements involving 502 investors, while simultaneously preparing…
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How Cegid’s Acquisition of Shine Is Reshaping Europe’s Tax and Accounting Technology Landscape
A Strategic Move Beyond Traditional Accounting Software Completed in June 2026, Cegid’s acquisition of fintech unicorn Shine stands out as one of the year’s most significant transactions in the European tax and accounting technology sector. Rather than simply expanding its customer base, the acquisition reflects a…
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U.S. Introduces New Global Tariffs Using Forced Labour as Legal Basis
The United States has introduced a new round of tariffs affecting imports from 60 of its largest trading partners, replacing the temporary tariff regime that expired on Friday with a new framework based on forced labour enforcement. The measures impose tariffs of 10% or 12.5% on…
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OECD Updates BEPS Action 5 Review of Harmful Tax Practices: 347 Preferential Tax Regimes Assessed
The OECD/G20 Inclusive Framework on BEPS has released its latest 2026 update on the review of preferential tax regimes under BEPS Action 5, marking another milestone in the international effort to combat harmful tax practices and promote greater tax transparency. OECD Continues Review of Harmful Tax…
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Taxspoc Landmark Tax Case Library #3: Ramsay v. Inland Revenue Commissioners (1982)
Few judicial decisions have had as profound an impact on modern tax law as W.T. Ramsay Ltd v. Inland Revenue Commissioners. Decided by the House of Lords in 1982, the case fundamentally changed how UK courts analyse tax avoidance arrangements by looking beyond the legal…
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Canada Launches Tax Consultation
The Canadian Department of Finance has published a comprehensive package of draft legislative proposals for public consultation, covering a broad range of direct and indirect tax measures. The consultation includes previously announced Budget 2025 measures, international tax reforms, GST/HST amendments and numerous technical updates to…
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Section 301 Explained: The U.S. Trade Law Behind Many of Today’s Tariffs
Understanding recent U.S. trade policy has become increasingly difficult without understanding one particular piece of legislation: Section 301 of the U.S. Trade Act of 1974. Over the past several years, Section 301 has emerged as one of the principal legal mechanisms enabling the United States…
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Luxembourg Selects Peppol for Mandatory B2B E-Invoicing
Luxembourg’s Government has approved a draft law that would introduce mandatory B2B electronic invoicing and designate the Peppol network as the standard platform for exchanging electronic invoices between businesses. The proposal builds on the country’s existing B2G e-invoicing framework and establishes a phased implementation of the…
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Canada Faces New US Tariffs as Trade Negotiations Enter Critical Phase
Canada Faces New US Tariffs The trade relationship between Canada and the United States has entered another period of heightened uncertainty following Washington’s announcement of a new round of tariffs targeting a broad range of Canadian products. The measures, which are scheduled to take effect…
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German Startup Skalar Secures €12 Million to Reinvent Tax Advisory with AI
German Startup Skalar Secures €12 Million to Reinvent Tax Advisory with AI Artificial intelligence continues to reshape the professional services market, with Munich-based Skalar announcing a €12 million funding round to develop an AI-first tax and accounting practice. The investment reflects growing confidence that the next wave…
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Belgium Approves Draft Law for Near Real-Time VAT E-Reporting as CTC Framework Expands
Belgium is taking another significant step in the digitalisation of its VAT system. The Belgian Council of Ministers has approved a draft law introducing near real-time electronic reporting of invoice data, building on the country’s mandatory B2B e-invoicing framework that came into force on 1…
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US Imposes First New Section 301 Tariffs on Brazil Following Supreme Court Trade Ruling
The United States has announced a new round of 25% tariffs on thousands of Brazilian imports, with the measures scheduled to take effect on 22 July 2026. The action represents the first new tariffs imposed under Section 301 of the Trade Act of 1974 since the…
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Is UK Audit Entering a New Reality? PwC and Deloitte Signal a Shift in the Market
For years, the UK audit profession faced a persistent talent shortage, with firms competing aggressively to recruit and retain qualified professionals. Recent developments, however, suggest that the market may be entering a different phase. A New Pattern Emerging in UK Audit PwC has introduced targeted…
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OECD Study Finds Pillar Two Raised Tax Revenues with Limited Short-Term Economic Impact
OECD Study Provides First Real-World Evidence on Pillar Two’s Impact For several years, discussions surrounding the OECD’s 15% Global Minimum Tax (Pillar Two) have largely been based on forecasts, economic modelling and expectations. The publication of the OECD report, MNE Responses to the Global Minimum Tax,…
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OECD Calls for Smarter UK Tax Reform to Support Long-Term Economic Growth
OECD Calls for Smarter UK Tax Reform to Support Long-Term Economic Growth The OECD has urged the United Kingdom to focus on improving the efficiency of its tax system rather than relying solely on higher taxation, arguing that smarter tax policy will be essential to…
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KPMG UK Plans New Workforce Reduction as Back-Office Transformation Continues
KPMG UK has announced plans to reduce its corporate services workforce by approximately 200 positions, marking another step in the firm’s broader programme to redesign its internal operations. Rather than affecting client delivery teams, the latest proposals focus on business support functions as KPMG seeks…
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France Confirms E-Invoicing Timeline While Providing Practical Transition Guidance for Businesses
France Confirms E-Invoicing Timeline While Providing Practical Transition Guidance for Businesses France’s tax authority (DGFiP) has published a practical implementation guide to help businesses navigate the launch of the country’s mandatory e-invoicing reform on 1 September 2026. The guidance provides important operational clarification for companies…
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All Big Four Firms Under Investigation in Australia as ASIC Expands Audit Oversight
Australia’s audit profession is facing heightened regulatory attention after the Australian Securities and Investments Commission (ASIC) widened its review of audit-related complaints to encompass every member of the Big Four accounting firms. The initiative forms part of a broader push by Australian authorities to strengthen…
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California Expands Sales Tax to SaaS and Digital Products Under Senate Bill 122
California Expands Sales Tax to SaaS and Digital Products Under Senate Bill 122 California has enacted Senate Bill 122 (SB 122), introducing significant changes to the state’s sales and use tax regime by expanding the definition of taxable tangible personal property to include certain digital…
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European Commission’s Annual Report on Taxation 2026 Highlights Competitiveness, Tax Simplification and Digitalisation
European Commission’s Annual Report on Taxation 2026 Highlights Competitiveness, Tax Simplification and Digitalisation The European Commission has published its Annual Report on Taxation 2026, providing a detailed assessment of tax revenue developments, tax policy trends and reform priorities across the European Union. The report examines…
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Norway Introduces Mandatory B2B E-Invoicing and Digital Bookkeeping Requirements
Norway has adopted legislation introducing mandatory electronic invoicing and digital bookkeeping requirements for businesses subject to bookkeeping obligations. The new framework is intended to modernise business transactions, reduce manual processing and support the country’s wider digitalisation strategy. The implementation will take place in phases, providing…
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France Orders Bernard Arnault to Pay €22.5 Million Following Tax Court Reversal
A French administrative appeals court has ruled that Bernard Arnault, Chairman and CEO of LVMH, and his wife are liable for approximately €22.5 million in additional income tax, social charges and related wealth tax liabilities, marking a significant victory for the French tax authorities in…
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Gregory v. Helvering (1935): The Landmark Tax Case That Established the Business Purpose Doctrine
Gregory v. Helvering (1935): The Foundation of Modern Anti-Avoidance Rules The Taxspoc Landmark Tax Case Library is a new educational series featuring 100 landmark tax cases every tax professional should know. The series examines the judicial decisions that have fundamentally shaped domestic and international tax law…
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Taxwire Raises $25 Million to Challenge Legacy Tax Software with AI-Powered Compliance
Taxwire Secures $25 Million to Expand AI-Driven Tax Compliance Artificial intelligence continues to reshape the tax technology sector, with Taxwire becoming one of the latest companies to attract significant investor backing. The U.S.-based TaxTech company has announced a $25 million Series A funding round led by Headline,…
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The EU Is Rewriting Its Tax Rulebook
The European Commission has adopted a comprehensive tax simplification package designed to modernise the EU’s direct tax framework, reduce compliance burdens for businesses and strengthen the competitiveness of the Single Market. The package consists of two legislative proposals: the Direct Taxation Omnibus Directive and a…
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Deloitte to Cut Nearly 200 UK Audit Jobs Through Voluntary Redundancy Programme
Deloitte is introducing a voluntary redundancy programme within its UK Audit & Assurance practice that could affect up to 175 employees. The move follows an extended period of unusually low staff turnover in parts of the business, prompting the firm to adjust staffing levels. Low…
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KPMG Australia Chairman and Senior Audit Partners Exit Amid Expanding Audit Scandal
Leadership Changes Continue at KPMG Australia KPMG Australia has announced that Chairman Martin Sheppard and senior audit partners Paul Rogers and Eileen Hoggett will leave the firm as it continues to respond to allegations that confidential client information was misused during audit tender processes. The…
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UK Confirms Peppol as Core Network for Future E-Invoicing Framework
A Key Milestone in the UK’s E-Invoicing Strategy The UK government has announced that Peppol will serve as the core interoperability network for e-invoicing in the United Kingdom, providing the clearest indication to date of the technical framework being considered for the country’s future e-invoicing…
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HMRC Tax Update 2026 Signals Major Shift Towards Digital Tax Administration
HMRC Unveils Broad Package of Tax Administration Reforms The UK government has published its Tax Update 2026 package, announcing a wide range of tax and customs measures designed to simplify administration, improve compliance, modernise HMRC systems and support economic growth. The package includes reforms affecting…
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HM Treasury Wants a CTO. The Salary Is Turning Heads.
Can the UK Treasury Really Hire a CTO for £77,000? HM Treasury has launched a search for a new Chief Technology Officer (CTO), offering a salary of up to £77,000 in London for a role responsible for technology strategy at the heart of the UK…
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Deloitte and Cedra Reshape Denmark’s Audit and Tax Market with Strategic Deal
Deloitte and Cedra Draw a New Line in the Audit and Tax Market Deloitte Denmark’s decision to sell part of its Audit & Assurance business and selected Tax & Legal activities to Cedra Denmark is more than a corporate restructuring. It reflects a broader shift…
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Australia Revises Capital Gains Tax Plans with Expanded Relief for Small Businesses and Startups
The Australian government has announced a series of proposed modifications to its planned capital gains tax reforms, introducing expanded relief for small businesses and signalling special treatment for startup founders and certain trust structures. The measures come after growing concern from business organisations, investors and…
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KPMG Pauses New Australian Government Work Amid Whistleblower Fallout
KPMG Agrees to Pause New Government Work KPMG Australia has effectively been sidelined from securing new Australian federal government contracts after agreeing to temporarily cease bidding for Commonwealth work until 30 September 2026. The arrangement follows a request from the Department of Finance and comes…
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KKR Invests in Crowe Advisory: What the Landmark Deal Means for the Future of Tax and Professional Services
KKR, one of the world’s largest private equity firms, has agreed to make a significant equity investment in Crowe Advisory LLC, marking a major development in the evolution of the accounting and tax advisory sector. The transaction, announced by Crowe LLP and KKR, will make…
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FRC Launches Investigation into PwC’s Audit of WH Smith as Regulatory Scrutiny Intensifies
The UK’s Financial Reporting Council (FRC) has commenced an investigation into the statutory audit conducted by PricewaterhouseCoopers LLP (PwC) of the consolidated financial statements of WH Smith plc for the financial year ended 31 August 2024. According to an official press notice published by the…
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IRS Launches Nationwide Hiring Drive for Seasonal Tax Roles Following Workforce Restructuring
The Internal Revenue Service (IRS) has announced a series of hiring events across the United States through July as it seeks to recruit candidates for key seasonal roles supporting taxpayer services and tax administration activities. The initiative comes after months during which the agency made…
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Greece Prepares 15% Capital Gains Tax on Cryptocurrencies
Greece is reportedly preparing new legislation that would formally introduce a 15% capital gains tax on cryptocurrencies, marking a significant step toward regulating the taxation of digital assets within the country. The draft law, currently under preparation by the Ministry of Finance, is expected to…
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Council Agrees Position to Strengthen EU Carbon Border Adjustment Mechanism and Expand CBAM Scope
The Council of the European Union has agreed its negotiating position on a proposal to strengthen the EU’s Carbon Border Adjustment Mechanism (CBAM), marking another significant step in the bloc’s efforts to prevent carbon leakage and support global decarbonisation. The updated framework would expand CBAM’s…
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KPMG Scandal Deepens as Clients Reassess Ties and Governments Review Contracts
Trust is the currency of the audit profession. Once questioned, even decades-long relationships can unravel quickly. That reality is playing out in Australia, where the fallout from allegations involving KPMG Australia’s handling of confidential client information has entered a new phase. What began as a…
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UK Court of Appeal Rules in Favour of HMRC in Bolt VAT Appeal Over TOMS
The Court of Appeal of England and Wales has allowed HM Revenue & Customs’ appeal in its dispute with Bolt Services UK Limited, ruling that the Tour Operators Margin Scheme (TOMS) does not apply to Bolt’s supplies of private hire vehicle services. The judgment overturns…
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OECD Calls for Global Cooperation as Digital Tax Debate Intensifies
The Organisation for Economic Co-operation and Development (OECD) has reiterated the importance of a coordinated international approach to taxing the digital economy, warning that fragmented national measures could increase uncertainty for businesses and governments alike. Speaking during the OECD Ministerial Council Meeting, Secretary-General Mathias Cormann…
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Intuit Cuts 17% of Workforce as AI Investment Accelerates and TurboTax Outlook Softens
Intuit, the U.S.-based financial software company behind TurboTax, QuickBooks and Credit Karma, has announced plans to reduce approximately 17% of its global workforce as it accelerates investments in artificial intelligence and adapts to changing market dynamics. The restructuring will affect nearly 3,000 employees and is…
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Ryan Acquires Svalner Atlas in $400 Million Deal to Challenge the Big Four in Europe
US-based tax services and software company Ryan has agreed to acquire Svalner Atlas Advisors in a deal reportedly valued at approximately $400 million, marking one of the largest tax advisory transactions in recent years and further reshaping the competitive landscape of the professional services sector.…
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EU Introduces Temporary €3 Customs Duty on Low-Value Imports from 1 July 2026
The European Union will fundamentally change the way low-value e-commerce imports are treated from 1 July 2026 by introducing a temporary €3 customs duty on imported goods valued at up to €150. The measure abolishes the long-standing customs duty exemption for low-value consignments and forms…
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Denmark Unveils Sweeping Tax Cuts to Boost Competitiveness and Household Spending
Denmark’s newly formed coalition government has unveiled an ambitious package of tax reforms aimed at strengthening competitiveness, boosting household purchasing power and supporting economic growth. The measures include reductions in corporate and personal taxes, lower VAT on selected goods. The proposals form part of the…
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Hungary’s Proposed Wealth Tax: A New Chapter in European Tax Policy
Hungary is preparing to introduce a new wealth tax that could make it the first current European Union member state in decades to adopt such a measure. The proposal follows the election victory of Prime Minister Péter Magyar and forms part of a broader overhaul…
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Big Four Ethics in the Spotlight: ASIC Launches Formal Investigation Into KPMG Partners
Australia’s corporate regulator has launched a formal investigation into three KPMG Australia partners following allegations that confidential client information may have been improperly used to secure major audit engagements. The development represents the latest governance challenge facing a Big Four accounting firm in Australia and…
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Fonoa Raises $110 Million and Acquires PwC’s Indirect Tax Edge Platform
Tax technology company Fonoa has announced a $110 million Series C funding round alongside the acquisition of Indirect Tax Edge (Edge), a tax compliance platform previously owned by PwC. The funding round was led by Headline, with participation from Eurazeo, Forestay Capital, Index Ventures, OMERS,…
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KPMG Australia CEO Andrew Yates Resigns Amid Whistleblower Investigation Over Client Information Misuse
KPMG Australia is facing renewed scrutiny after Chief Executive Officer Andrew Yates announced his immediate resignation amid an ongoing investigation into allegations involving the handling of confidential client information and the firm’s response to whistleblower concerns. The departure marks a significant leadership change at one…
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Avalara Appoints Hugo Sarrazin as CEO, Signaling Next Phase of AI-Driven Tax Compliance Innovation
Avalara has announced the appointment of Hugo Sarrazin as its new Chief Executive Officer, marking a significant leadership transition for one of the world’s leading tax and compliance technology providers. Effective immediately, Sarrazin succeeds Avalara co-founder Scott McFarlane, who will transition into an advisory role…
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New York Approves Controversial Tax on Luxury Second Homes
New York State lawmakers have approved a new tax on luxury second homes, marking one of the most significant changes to property taxation in New York City in recent years. The measure, commonly referred to as the “pied-à-terre tax,” targets non-primary residences valued at $1…
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UK Introduces Temporary 5% VAT Rate on Family Days Out as School Fee VAT Debate Intensifies
The UK government has announced a temporary reduction in VAT from 20% to 5% on selected family-focused hospitality and leisure activities during the 2026 summer holidays. The measure, effective from 25 June to 1 September 2026, aims to ease the financial burden on families by…
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Ryan Acquires Svalner Atlas in $400 Million Deal to Challenge the Big Four in Europe
US-based tax services and software company Ryan has agreed to acquire Svalner Atlas Advisors in a deal reportedly valued at approximately $400 million, marking one of the largest tax advisory transactions in recent years and further reshaping the competitive landscape of the professional services sector.…
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OECD Issues New Guidance on GIR Central Filing Ahead of the First Pillar Two Reporting Deadline
The OECD has released a series of important updates to the Global Minimum Tax (GMT) framework just weeks before the first major compliance deadline facing multinational groups. Published on 18 May 2026, the documents provide additional clarity on practical aspects of Pillar Two implementation and…
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PwC and Google Cloud Expand AI Alliance with New Gemini Innovation Hub for Enterprises
PwC has unveiled a major expansion of its collaboration with Google Cloud by launching a new AI-focused innovation hub designed to help enterprises accelerate generative AI adoption and large-scale digital transformation. The newly established Gemini Enterprise Center of Excellence (CoE) will combine PwC’s consulting expertise…
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The Great American Wealth Migration: Why Billionaires and Corporations Are Leaving High-Tax States
A growing number of billionaires, CEOs, hedge funds, and major corporations are relocating from high-tax blue states to lower-tax, business-friendly red states, accelerating what many analysts now describe as one of the most significant economic migration trends in modern U.S. history. From California to Texas…
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UK Announces New Tax Measures Following Energy Price Surge and Iran Conflict
The UK government has announced a series of new tax and fiscal measures as part of its economic response to rising energy prices and the ongoing conflict in Iran. In a statement delivered to Parliament on 21 May 2026, Chancellor Rachel Reeves confirmed several indirect…
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DOJ Agreement Blocking IRS Audits of Trump Sparks Unprecedented Tax Controversy
New Justice Department Addendum Would Bar IRS Audits of Trump, Family and Related Businesses A newly disclosed agreement between the US Department of Justice (DOJ) and President Donald Trump is triggering intense debate across the tax, legal and political world after reports emerged that the…
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New York’s Wealth Tax Debate Intensifies as Concerns Grow Over Capital Flight and Business Relocation
New York City’s debate over wealth taxation is intensifying following proposals to increase taxes on luxury second homes owned by high-net-worth individuals. The proposed measure, supported by New York City Mayor Zohran Mamdani, is expected to generate approximately $500 million annually and forms part of…
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EU Tax Infringements 2026: Spain and Hungary Face European Commission Action
The European Commission’s April 2026 infringements package once again highlights the growing importance of EU fundamental freedoms in the field of taxation. Two cases in particular — involving Spain and Hungary — demonstrate how national tax measures remain under close scrutiny where they may create…
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Anthropic and PwC Just Declared War on Legacy Enterprise Operations
The $2 Trillion Problem Enterprises Can No Longer Ignore Anthropic and PwC have announced a major expansion of their strategic alliance — and the message behind the deal is impossible to miss: The age of the AI-native enterprise has officially begun. While most corporations are…