HM Revenue and Customs has announced that it is has agreed changes with authorities in Austria regarding how the two authorities will deal with requests for relief under the two countries' tax treaty.

The UK Government has recently issued a call for evidence from UK VAT groups on future policy reform.

The European Commission has published its latest VAT gap report, which show that EU countries lost an estimated EUR140bn (USD165.7bn) in VAT revenues in 2018.

The UK Government on September 16, 2020, tabled The Taxes (Interest Rate) (Amendment No. 2) Regulations 2020, which will enable HM Revenue and Customs to collect or pay interest on overpaid or underpaid digital services tax liabilities.

On September 24, 2020, HM Revenue and Customs released in-depth guidance on the introduction of the VAT reverse charge mechanism on the supply of building or construction services.

On October 5, 2020, the UK tax authority added considerably to its Brexit guidance for businesses on the value-added tax rules that will apply to goods entering Great Britain from outside the UK.

The OECD has released a new report on countries' tax rules for virtual currencies, alongside an announcement that the Common Reporting Standard will be expanded next year to newly cover virtual currency assets.

The UK's Public Accounts Committee has recommended that the UK tax authority first review the potential administrative burden and cost on taxpayers before further expanding its Making Tax Digital initiative.

On November 5, 2020, HM Revenue and Customs issued a consultation on proposals to improve the administration of Insurance Premium Tax (IPT) and prevent unfair outcomes.

More closely aligning UK capital gains tax (CGT) rates with income tax rates could raise significant revenues for the UK, a government-commissioned review has concluded.

The UK Government has announced that the temporary GBP1m (USD1.31m) cap for the Annual Investment Allowance (AIA) will be extended until January 1, 2022.

Canada and the UK have announced the successful conclusion of negotiations on an interim trade agreement, which will be in place as they work toward a comprehensive post-Brexit free trade deal.

HM Revenue and Customs has confirmed that UK businesses who wish to pay their deferred VAT liabilities in installments will be able to decide a payment schedule early next year.

The EU has referred the UK to the Court of Justice over its failure to comply with EU rules on marked fuel.

Canada and the UK have formally signed a post-Brexit trade continuity agreement that will apply from January 1, 2021.

The UK Government is inviting input on the tax challenges associated with the rise of the sharing economy.

On December 15, 2020, the UK and Mexico signed a trade continuity agreement that will apply when the Brexit transition period ends.

Norway intends to provide value-added tax administrative relief measures to UK businesses in response to Brexit.

The European Union has released its Winter 2021 Economic Forecast, which says that Brexit will dent UK economic growth considerably, and more than for the European Union, despite the new free trade deal between the two parties.

HM Revenue and Customs has recently issued new guidance on the Stamp Duty Land Tax (SDLT) on non-resident buyers of residential property in England and Northern Ireland.

On September 22, 2020, Germany provided further details about the government's tax policy priorities for its presidency of the European Union.

Ukraine and Austria intend to revise their double tax agreement to raise rates of tax on cross-border income and introduce measures to combat tax base erosion and profit shifting.

The European Commission is undertaking infringement proceedings against Belgium regarding the taxation of shares held by life insurance companies, the taxation of income from savings deposits, and the deductibility of alimony payments.

The Swiss Federal Council has approved proposed legislative changes to alter how the country interprets double tax agreement provisions.

The Government of the Cayman Islands has published legislation in its Official Gazette to introduce a regulatory regime for virtual asset service providers (VASPs).

European Court of Justice (ECJ) Advocate General Juliane Kokott has opined that the Commission was right to consider that the Belgian practice of making downward adjustments to profits of undertakings forming part of multinational groups, under the "excess profit" ruling scheme, constituted an aid scheme.

The Dutch Government has issued a decree to ensure the country's dividend withholding tax rules comply with the European Court of Justice's ruling in the Sofina case.

Austrian lawmakers have signed off on the introduction of new limits on the deductibility of interest expenses for multinational corporations.

On February 8, 2021, the European Commission launched a consultation on a review of the VAT rules for financial and insurance services.

The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns.

The Swedish tax authority has announced that it will be expending more resources this year on ensuring businesses fully declare income from e-commerce and taxpayers report income from home rentals.

Belgium has published in its Official Gazette legislation to introduce the country's new tax on securities accounts.

The Philippines Department of Finance has announced that the Fiscal Incentives Review Board (FIRB) will complete the implementing rules and regulations for the corporate Recovery and Tax Incentives for Enterprises (CREATE) Act by the third week of May.

Mexico has recently enacted legislative amendments to various tax laws in a bid to restrict the ability of companies to enter into outsourcing arrangements.

Russia's President Vladimir Putin has signed a law to terminate the country's double tax agreement with the Netherlands.

The Hong Kong Government has announced that the comprehensive double tax agreement it signed with Georgia last year will enter into force on July 1.

The US Senate has approved the inclusion of new provisions in the bipartisan infrastructure bill to require intermediaries involved in cryptocurrency trading to report details about transactions.

China's Ministry of Finance and the State Administration of Taxation have issued a statement announcing tax relief from the Urban Maintenance and Construction Tax.

The European Commission has committed to tabling a proposal for a digital tax in October, whether or not an international agreement surfaces from OECD-led talks on new international tax rules for the world's largest firms.

China has set out the priorities of the Belt and Road Initiative Tax Administration Cooperation Mechanism (BRITACOM) Council over the next five years, at the 36-country grouping's second forum.

EU finance ministers have agreed an update to the rules governing value-added tax rates for goods and services.

Legislation has been enacted in Ecuador to introduce new taxes on companies and wealthy individuals, to fund government efforts during the COVID-19 pandemic.

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