16 October 2026
EU finance ministers have published the latest EU list of non-cooperative jurisdictions for tax purposes (Annex I) and the ‘state-of-play’ document (Annex II). Jurisdictions are analysed by the European Council twice a year based on certain agreed criteria. Those that fail to meet the criteria are included in Annex I; whilst countries that have made acceptable commitments to modify their tax legislation are included in Annex II.
Compared to the previous version of February 2026, Panama and Vietnam have been removed from Annex I. The updated Annex I now comprises: American Samoa, Anguilla, Guam, Palau, Russia, Turks and Caicos Islands, the US Virgin Islands, and Vanuatu. Panama and Vietnam have been added to Annex II, and Belize has been removed. The updated Annex II now comprises: the British Virgin Islands, Brunei Darussalam, Eswatini, Greenland, Jordan, Montenegro, Morocco, Panama, Vietnam and Turkey.
On 15 October 2026, the House of Lords Economic Affairs Finance Bill Sub-Committee took evidence on proposals to modernise the correction of tax errors legislation and to introduce a new criminal offence for making reckless untrue statements or declarations in respect of direct tax matters. The session formed part of the Sub-Committee’s inquiry into the draft Finance Bill 2026–27 and considered how the measures may operate in practice, whether they are necessary, proportionate and understandable, and their likely effect on taxpayer compliance. The correction of errors measure would make explicit a taxpayer’s obligation to correct an identified inaccuracy, while the proposed direct tax offence is intended to align the position with existing indirect tax rules and provide an alternative charge where dishonesty cannot be proved but reckless conduct is established. Evidence was heard from representatives of the Law Society of England and Wales, the Law Society of Scotland, the Chartered Institute of Taxation, the Low Incomes Tax Reform Group and Reynolds Porter Chamberlain LLP. The evidence session was streamed live and is available on demand on Parliament TV.
HMRC have issued a Guidelines for Compliance (GfC), Help with VAT treatment of cryptoassets – GfC21, setting out HMRC’s view of how VAT applies to cryptoasset transactions, including where sold via exchanges. The GfC emphasises that the VAT treatment will depend upon the features of the underlying asset involved, for example, for Non-Fungible Tokens (NFT), the NFT itself merely represents ownership, and is not a separate asset itself. The GfC goes on to set out the rules for UK VAT registration and liability, including customer information requirements to determine place of supply. The GfC notes that the VAT rules regarding digital services and electronically supplied services (ESS) may apply, which may affect the place of supply. Where cryptoassets are supplied through an online platform, the GfC states that it is necessary to identify whether the supply is made by the supplier or by the platform operator, and accordingly who is liable to account for VAT. The GfC provides examples to illustrate where the supplier must account for the VAT and where the responsibility lies with the platform operator. Finally, the GfC states that if a business’ only role in the supply is to provide payment services, the business is not regarded as a digital platform, and does not have to account for the VAT on the sale of the digital service or ESS.
Following the announcement of the EU-wide €2 handling fee for goods sold in distance sales and released for free circulation in the EU, which is expected to apply from 1 November 2026, the European Commission has issued guidance on the handling fee, which also includes guidance on the temporary €3 customs duty, which has applied since 1 July 2026.
The next EMEA Dbriefs webcast will take place on Tuesday 20 October 2026 at 12.00 BST/13.00 CEST. In From Innovation to Value: Managing IP Across the Supply Chain, hosted by Mel Upton, we will explore how intellectual property (IP) is becoming an increasingly important driver of enterprise value as organisations redesign their supply chains in response to geopolitical uncertainty, digital transformation, AI adoption and evolving tax rules. We will discuss unlocking greater value from your IP by taking a holistic view across the supply chain; practical approaches to identifying and safeguarding IP, commercialising innovation, and maximising available tax incentives; and international tax, transfer pricing and legal considerations, alongside the contractual frameworks needed to support effective governance.
On Thursday 22 October 2026 at 09.00 BST/10.00 CEST/17.00 JST, Ivana Azzollini will be hosting Pay Transparency: From regulation to practice for Japanese clients. We will discuss how pay transparency is rapidly becoming a strategic priority across Europe, with some countries already having implemented legal requirements and others preparing to follow. We will share practical experiences and market insights, giving Japanese companies the opportunity to benchmark their approach and prepare for what comes next. We’ll discuss the current landscape, key obligations in force, and upcoming regulatory milestones.