Tax news and archive

Trump officially closes de minimis loophole for Chinese goods: What you need to know

The de minimis tax exemption has officially closed for Chinese imports to the US. The loophole has caused much debate in recent years, particularly as experts weigh the possible impact and implications on both companies and consumers if a full halt was enforced. Here is what you need to know… What is the de minimis exemption? De minimis – a...

Retail

‘Deeply concerning’: UK Valuation Office Agency to be scrapped

The UK government has announced plans to scrap its Valuation Office Agency (VOA), its arm responsible for valuing properties for council tax and business rates. By April 2026, the division will instead be brought under the wing of its parent department HM Revenue & Customs (HMRC). While in its current format, the VOA aids in the collection of...

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Business

Adidas headquarters raided amid German tax evasion probe

The Herzogenaurach headquarters of sportswear giant Adidas have been raided as part of a multiyear probe into alleged tax evasion reportedly worth more than 1.1 billion euros. The European Public Prosector’s Office (EPPO) told the Financial Times (FT) that it was pursuing a “criminal investigation" against a German “corporate group trading in...

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Business

European Commission investigates Nike’s tax status in the Netherlands

The European Commission has launched an in-depth investigation into Nike’s tax arrangements in the Netherlands, looking to examine whether the country’s tax administration body, Belastingdienst, has given the sportswear giant an unfair advantage over its competitors. Between 2006 and 2015, Dutch authorities issued five tax rulings, two of which...