Tax

Five people have been arrested in Cyprus, Germany and Italy as part of an international investigation into an alleged €114 million value-added tax (VAT) fraud scheme involving smartphone trading. The operation, coordinated at the request of the European Public Prosecutor’s Office (EPPO) in Munich, Germany, has focused on suspected cross-border trading arrangements that investigators believe generated substantial unpaid tax liabilities in Sweden and Germany. The arrests, a

Diesel has become the most expensive fuel at European filling stations, with the average price across the European Union reaching a record €2.226 per litre on 21 September 2026. According to the European Commission’s Weekly Oil Bulletin, the figure represents the highest EU-wide diesel price recorded since the series began in 2005. It is also 13.4 cents per litre higher than the average price of Euro-super 95 petrol. At current prices, filling a 50-litre diesel tank costs

Zambia has introduced a temporary tax relief programme allowing eligible taxpayers, including gaming and betting businesses, to settle qualifying historical tax liabilities without paying accrued penalties and interest. The Extended Voluntary Disclosure Scheme (EVDS), launched by the Zambia Revenue Authority (ZRA) on September 17, 2026, will remain open until December 31, 2026. The scheme applies to outstanding principal tax liabilities, penalties and interest relating to per

The U.S. House Ways and Means Committee is set to consider legislation Wednesday that would restore the ability of taxpayers to deduct 100% of their gambling losses against gambling winnings for federal tax purposes. The proposal would repeal the current 90% cap on deductions for wagering losses. It would apply to taxable years beginning after December 31, 2025, effectively providing retroactive relief for 2026. The gambling-loss provision has been incorporated into House Res

Global tax cooperation is becoming increasingly fragmented, leaving businesses to navigate a more uncertain policy environment as negotiations at the Organisation for Economic Co-operation and Development (OECD) and the United Nations move along separate paths, while governments increasingly introduce regional and unilateral measures, according to EY. The consulting firm said the international tax system was moving away from a single, consensus-based process towards a landsca

Polish Prime Minister Donald Tusk has urged the European Union to give serious consideration to introducing a gambling tax at EU level as the bloc explores new revenue streams for its next long-term budget. Tusk raised the proposal after a meeting of Visegrad Group leaders in Bratislava, where European Union budget priorities for the 2028–2034 period were discussed. During the talks, the Polish prime minister argued that efforts to secure additional funding for the EU should

Brazilian authorities have launched a major investigation into NSX Group, the operator behind Betnacional and Betfair’s Brazilian operations, over allegations involving tax evasion, currency violations and money laundering. The investigation comes as authorities intensify scrutiny of the rapidly expanding betting sector and seek to establish whether some operators continued using financial structures associated with the pre-regulation market after Brazil introduced its licens

Brazil's newly regulated betting industry has become a significant source of government revenue, generating R$8.7 billion in tax payments during the first seven months of 2026. The figure represents a substantial increase compared with the same period last year and comes at a time when the sector is facing growing political opposition and calls for tighter restrictions. The tax contribution between January and July represents an increase of approximately 77% compared with the