July 2025 Newsletter

Foreword

• Philippe Arraou, ETAF president

Professional law

• European Commission unveils new Single Market Strategy

Tax law

• EU and US strike 15% tariff deal to avoid trade war
• European Commission presents a 2028-2034 budget proposal with three new own resources
• European Commission launches work on a 28^th company law regime
• European Commission presents long overdue recast of the Tobacco Taxation Directive
• European Commission issues a Recommendation on tax incentives to support clean investment
• European Commission wants to modernise VAT rules for travel and tourism sectors
• European Commission updates on its tax simplification efforts
• Tax priorities of the Danish Presidency of the Council of the EU
• MEPs call for simpler tax rules
• Partial agreement from Member States on the Customs Reform Package
• Member States reach agreement on new rules to incentivise the use of the IOSS
• UNSHELL talks on hold in the Council pending new DAC proposal
• US wins exemption from OECD Pillar Two through G7 deal

ECJ tax case-law digest

• May 2025 - July 2025

ETAF news

• HKPS becomes a full ETAF member
• Key takeaways from the ETAF Conference “Decluttering without diluting the EU tax system” on 3 June 2025
• ETAF at EU Tax Observatory Annual Conference in Brussels
• ETAF recommendations on the tax treatment of savings and investment account