The EU will apply 3 euros customs duty on parcels - Portugal Business News Business News Europe - The EU will apply 3 euros customs duty on low-value parcels imported from outside the EU, mainly through e-commerce, starting on July 1st, 2026, according to an announcement dated June 29th 2026. Here are the specifications of the new EU customs duty on parcels and how it works in practice: What is the new EU customs duty on parcels? The new EU customs duty on parcels falls under EU Council Regulation 2026/382. The new EU customs duty on parcels will affect e-commerce and onlines sales to the EU, since the EU will apply a customs duty amounting to 3 euros for packages that fall under each specific tariff classification. The new EU customs duty on parcels applies to low-value parcels imported from outside the EU and includes a wide range of products commonly bought online, such as clothing, toys, electronics, and other consumer goods up to a value of 150 euros. What are the specifications of the new EU customs duty on parcels? The specifications of the new EU customs duty on parcels include: 1 - The new EU customs duty on parcels applies per type of product independently of the number of products: For each type of products that is valued under 150 euros, a 3 euros customs duty must be applied independently of the number of products - this means that the product type must be under one specific tariff classification. 2 - The seller will be responsible for declaring and paying the duty as part of the customs process: The declarant of the good, that is the seller or importer of the good (IOSS holder, special arrangements user, or their indirect representative, indirect representative of the importer), will be responsible for paying the new EU customs duty on parcels. This means that the online sales invoice will have to include the 3 euros customs duty for each type of product that falls under a different tariff classification. 3 - Parcels shipped to the EU will require Product Identifiers: To enhance the traceability of goods exported to the EU, product identifiers (PIDs) will also become mandatory from November 1st 2026. 4 - The new EU customs duty on parcels will not apply to products under Preferential Trade Agreements: The new EU customs duty on parcels will not apply to products under Preferential Trade Agreement or Customs Union measures, as long as the VAT has not been collected using IOSS and they are declared in H1. How does the new EU customs duty on parcels work in practice? Here is an example of how the new EU customs duty on parcels works in practice: If you sell 5 T-shirts, the amount of customs duty that you must apply will only be 3 euros, since all T-shirts fall under the same tariff classification. If you sell 3 T-shirts + a watch, the amount of customs duty that you must apply will be 6 euros: that is 3 euros for the T-shirts tariff classification independently of the number of T-shits + 3 euros for the Watch tariff classification independently of the number of watches. Why will the EU apply a new customs duty on low-value packages? In 2025 alone, low-value packages worth around 5.9 billion were exported to consumers in the EU without paying customs duties, creating unfair competition for traditional retailers in EU countries. ¨With e-commerce expanding rapidly, the world is changing fast – and we need the right tools to keep pace. That is why the decision on customs duties for small parcels coming into the EU is so important to ensuring fair competition at our borders in today’s e-commerce era.¨ - Maroš Šefčovič, EU Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency.

The Pestana CR7 brand launches in Paris in 2027 - Portugal Business News Cristiano Ronaldo Investment News - Cristiano Ronaldo´s Pestana CR7 hotel brand will launch in Paris in 2027. Here is the amount invested by Ronaldo in the new Pestana CR7 hotel in Paris as well as the hotel specifications: What is Cristiano Ronaldo´s new CR7 hotel investment in Paris? Cristiano Ronaldo´s new Pestana CR7 hotel in Paris represents an investment of 60 million euros and, like the other 5 hotels under the Pestana CR7 Lifestyle Hotels brand, it is a 50-50 investment partnership between the Pestana Hotel Group and Cristiano Ronaldo, where the hotel management is under the Portuguese hotel group. Cristiano Ronaldo´s future Pestana CR7 hotel in Paris will be located next to the Gare d'Austerlitz and it is part of the Austerlitz A7A8 project by French real estate development company Kaufman Broad. The new Pestana CR7 hotel in Paris will be Ronaldo´s largest hotel in terms of capacity. The Pestana CR7 hotel in Paris will have 210 rooms as well as a landscaped rooftop with a swimming pool and a bar open to the public, offering a stunning 180-degree view of Paris. "it makes perfect sense for the Pestana CR7 brand to establish itself in Paris, one of the most visited cities in the world and a destination that perfectly matches the brand's concept of elegance and sophistication." - Cristiano Ronaldo.

What are Portugal´s new rules for Cryptoassets? - Portugal Business News Financial News Europe - Here are Portugal´s new rules for Cryptoassets that enter into force on July 1st, 2026, under Portugal´s Central Bank (BdP) and Securities and Exchange Commission (CMVM) as supervisors with the authority to issue fines of up to five million euros for defaulting companies. Here are also Portugal´s definition and sanctions for the illegal trade of Cryptoassets: What are Portugal´s new rules for Cryptoassets? Portugal´s new rules for Cryptoassets strengthen the regulation and supervision of cryptocurrency transactions with the aim to prevent illicit activities related to cryptocurrencies and to combat money laundering. Portugal´s Central Bank (BdP) and Securities and Exchange Commission (CMVM) will be responsible for regularly publishing the updated list of entities authorized to provide crypto-asset services in Portugal and to specify the services they are authorized to provide. Portugal´s new rules for Cryptoassets establish a legal and operational framework that applies European standards on cryptocurrencies, namely the European MiCA rules on crypto assets come into effect on July 1st. Under Europe´s MiCA rules, a large number of comapanies illegally trading in Cryptoassets face penalties since less than one in five of the more than 1,200 crypto companies registered in the EU have obtained the necessary license to provide services to European clients. The new Cryptocurrency rules involve traders, brokers, and digital wallet providers that will now be under legal supervision as is already the case for the Banking and Financial Services secor. The European Securities and Markets Authority (ESMA) issued a statement on June 23rd, 2026, to clarify that unauthorised cryptoasset service providers (CASPs) must wind down activities while also protecting investors under the Markets in Crypto-Assets Regulation (MiCA) that enters into force on July 1st, 2026. What is Portugal´s definition of illicit activities in the Cryptocurrency sector? Portugal defines serious offenses in the Cryptoassets sector as providing cryptocurrency services without authorization from the authorities, market manipulation, or communicating false or incomplete information to the authorities, the public, or clients. What are Portugal´s new sanctions for the illegal trade of Cryptoassets? Portugal´s new sanctions for the illegal trade of Cryptoassets include penalties for those who violate their duties as a cryptocurrency service provider. In the case of very serious offenses, fines can reach up to 2.5 million euros for individuals and 5 million euros for companies. The limits for fines can reach 15% of a company´s turnover in the case of offenses related to market abuses linked to Cryptoassets. Additional sanctions for the illegal trading of Cryptoassets in Portugal include the restitution of profits obtained or losses avoided as a result of providing illegal services.

Portugal invests 200 million euros in an AI Gigafactory - Portugal Business News Tech News Europe - Portugal will invest 200 million euros in an AI Gigafactory, an amount that is expected to be matched by the EuroHPC. This investment will allow the mobilization of up to 400 million euros in joint investment for computing capacity during the first phase. Portugal´s total investment in AI Gigafactories will ultimately reach around 4 billion euros. Portugal´s Council of Ministers approved a set of measures that strengthen Portugal´s investment in the installation and operation of an AI Gigafactory, according to an announcement dated June 26, 2026. "This Gigafactory ensures that Portugal will have sovereign capacity for the production of artificial intelligence" - Portugal´s Deputy Minister for State Reform, Gonçalo Matias. What is Portugal´s investment in AI Gigafactories in Europe? Portugal will join an Iberian bid for the European EuroHPC program to create seven AI Gigafactories in Europe that is an expected investment of around 4 billion euros. Portugal´s investment in AI Gigafactories in Europe represents an investment in strategic infrastructure for the technological sovereignty, economic competitiveness, and digital transformation of Europe. The European High-Perfomance Computing Joint Undertaking (EuroHPC JU) is pooling European resources and efforts to to develop a World Class exascale supercomputing Ecosystem in Europe. Portugal´s investment in the first AI Gigafactory could reach a maximum of 200 million euros, an amount that is expected to be matched by the EuroHPC. This will lead to the mobilization of up to 400 million euros in joint investment for computing capacity through the first phase of the development of AI Gigafactories in Europe. What will be the benefits of Portugal´s first AI Gigafactory? The first AI Gigafactory will allow Portugal to have its own computing capacity for AI applications, ensuring that the most sensitive data remains under national control and in compliance with European security and trust rules. The installed capacity will be equally available to small and medium-sized enterprises, startups, researchers, and the Public Administration, promoting the adoption of AI while increasing productivity and strengthening innovation in different sectors of Portugal´s economy. Portugal´s AI Gigafactory investment fulfills objectives defined in the National Agenda for Artificial Intelligence and in the National Data Center Plan, that will contribute to the creation of a national AI ecosystem based on its own computing capacity, innovation, competitiveness, and strategic autonomy.

What are the best Marketing Agencies in Europe? - Portugal Business News Marketing News Europe - Here are the best Marketing Agencies in Europe, according to the Effie Index ranking of marketing effectiveness, published on June 16, 2026: Here are the best Marketing Agencies in Europe: Omnicom Omnicom is one of the best Marketing Agencies in Europe according to the Effie Index. Omnicom is the world’s leading marketing and sales company, built for intelligent growth in the next era. Powered by Omni, Omnicom’s Connected Capabilities unite the company’s world-class agency brands, exceptional talent and deep domain expertise across media, commerce, consulting, precision marketing, advertising, production, health, public relations, branding and experiential to address clients’ critical growth priorities and deliver sustainable growth Leo Leo is one of the best Marketing Agencies in Europe according to the Effie Index. Leo brings together the creative power of the most recognizable names in advertising with the roar of a lion – Leo Burnett and Publicis Worldwide, with over 15,000 employees, 90 countries. banda agency banda agency is one of the best Marketing Agencies in Europe according to the Effie Index. banda agency is an independent Ukrainian award-winning creative agency that makes brands people want to talk about.

What works best on Instagram? - Portugal Business News Marketing News - This is what works best on Instagram including how Social Media Platforms compare by growth rate in 2026, what is the best posting frequency, what is the best time to post and what content works best on Instagram in 2026, according to a report published by Metricool. Why Instagram is important for branding in 2026? Instagram is still the darling of social media as it is the platform where being seen means staying relevant. Brands know it, and they’re still pouring their efforts into the Instagram platform. in 2026, brands have published 24% more content on Instagram and Instagram has rewarded brands with 27% more views and 19% more interactions. How do Social Media Platforms compare by growth rate in 2026? 1 - TikTok growth rate: On TikTok 16% of accounts have moved to a higher category in 2026. 2 - Instagram growth rate: On Instagram 9% of accounts have moved to a higher category in 2026. 3 - LinkedIn growth rate: On LinkedIn 7% of accounts have moved to a higher category in 2026. 4 - YouTube growth rate: On YouTube 4% of accounts have moved to a higher category in 2026. 5 - Facebook growth rate: On Facebook 4% of accounts have moved to a higher category in 2026. 6 - Twitter X growth rate: On Twitter - X - 1% of accounts have moved to a higher category in 2026 7 - Pinterest growth rate: On Pinterest 1% of accounts have moved to a higher category in 2026. What is the best posting frequency on Instagram in 2026? The best posting frequency on Instagram for small accounts: The best posting frequency on Instagram for small accounts is posting 7-14 times/week as it is where interactions peak, and the algorithm rewards the rhythm. The best posting frequency on Instagram for Medium accounts: The best posting frequency on Instagram for Medium accounts that have a higher ceiling peak at 14 -30 times/week. The best posting frequency on Instagram for accounts with over 100K followers: For the best posting frequency on Instagram for accounts with over 100K followers, it works in the opposite way compared to small accounts. The less large accounts post, the more each post gets. A huge account posting less than once a week averages nearly 6x more interactions per post than one posting daily. What is the best time to post on Instagram? The best time to post on Instagram is between 7 p.m. and 9 p.m., any day of the week. That’s when more people are online, which means more chances for your content to hit its view peak and reach the right audience. What content works best on Instagram? Using carousels and reels: In 2026, a single Views metric applies to all formats. This means that each time a carousel is re-served, it counts as a new view, and the same goes for every Reel play and replay, with no playback threshold. Instagram isn’t just showing content once and moving on. It’s bringing posts back to users who didn’t engage the first time, while also rewarding saves and shares, and this unstoppable rise in views is where the algorithm comes in. Instagram works best for small accounts: Growth on Instagram is more likely when you’re small, especially for accounts with up to 10K followers. At that level, with the right content strategy, you can gradually gain visibility and grow your audience. While small users have an 11% growth, big accounts only have a 1% growth. Steadily posting content: On Instagram, people land on your profile and decide to stay because of your content. Growth may be slower, but it’s steady. Reels have the best performance: The algorithm pushes Reels to new audiences, expanding reach. For interactions, Reels lead by a large percentage. The average Reel generates over 4x the interactions of a single-image post and, more importantly, it's the only format whose engagement rate has actually grown with a +24.76% growth rate. Reels have been shared 67% more than in 2025, confirming that users are not only consuming the content, but are actively distributing it. If there's one format to get right on Instagram in 2026, Reels are it. The Average Watch Time for Instagram Reels is up 118% compared to 2025, pushing Total View Time up by 139%. Cinematic short reels: Short Reels with a cinematic feel do best: including smooth movements, warm colors, and close-up details. Carousels outperform single-image posts Carousels gets more than double the reach and views compared to single-image posts, and have almost 4x more interactions. Carousels on Instagram generate 4.7x more views and 5.8x more interactions on Instagram than on TikTok. Content that creates emotions: Content that sparks emotional recognition does best: it’s not trying to sell you anything, it simply tells a story that makes you think, “I’ve felt that too.” Captions that create emotions: Captions that work as emotional hooks do best as they connect with the viewer through an almost poetic style. Niche content: With Niche content, people know what to expect from you: you don’t have to convince anyone to follow you. If they do, they already know what they’ll find on your profile, and that’s exactly why they stick around. Do not use hashtags: Hashtags are losing ground on Instagram, and posts that use them get 32% fewer views and 34% fewer interactions. Instagram now indexes captions via keyword search, and since July 2025, public posts also appear in Google and Bing results. The words you use in your captions now work for you beyond the platform. That’s why natural language matters more than ever, especially when you include keywords related to your business. In other words: Instagram SEO is here. Use a question in you title: Instagram posts that include a question get almost 37% more comments than posts that don’t. Do not ask for Likes: When you ask for likes on Instagram, posts get almost 5% fewer than when you don’t. Add @ mentions to your posts: People who add @ mentions to their posts do better as tagging another profile can significantly increase visibility, driving 108% more reach for Tiny accounts and 36% more reach for Small accounts. The effect is even stronger for comments, where Small and Medium accounts see much more conversation when a mention is included. Have a brand identity: Having a brand identity makes you recognizable and it is the best advantage when competing in a saturated space. It also leads to collaborations.

What are the new EU Counter Terrorism measures? - Portugal Business News Defence News Europe - Here are the new EU Counter Terrorism measures including measures to fight cross-border crime through Europol and Eurojust, according to an announcement published by the European Commission dated June 24, 2026: The new EU Counter Terrorism measures will improve cooperation between EU agencies and national authorities, including police, customs and courts. They will support more joint investigations, speed up prosecutions, and facilitate the exchange of information through a clearer legal framework and less administrative burden. Europol and Eurojust are at the core of the EU's response to organised criminal networks, terrorists and hostile actors that are operating across borders, globally and online, and that are increasingly using AI. Both Europol and Eurojust will operate under faster procedures under the European Investigation Order, the European Remote Participation Order, and the Data Protection Regulation for Union institutions and bodies (EUDPR). 1 - Here are the new EU Counter Terrorism measures including measures to fight cross-border crime through Europol: Europol will deliver more efficient and secure information exchange: Europol will deliver more efficient and secure information exchange through automated and faster information sharing that will enable real-time collaboration on investigations. Europol will also establish a secure, scalable and sovereign cloud infrastructure, and a Police Shared Data Space, so investigators can work jointly including virtually on common cases. Europol will provide stronger operational support for Member States: Europol will provide stronger operational support for Member States through Europol Support Offices that will be set up in Member States and will be staffed by police officers who have previously worked at Europol. This will ensure better use of Europol support and tools, including in forensics and data analysis while facilitating access to Europol's systems. Europol will create a Technology and Innovation Hub: Europol will create a Technology and Innovation Hub that will provide for the first time an EU-wide picture of capability needs for law enforcement. It will also support Member States' investment in joint research and development. This will help Member States invest together in critical technologies and ensure access to advanced capabilities. The tools developed will be made available via the European Police Shared Data Space directly to Member States' law enforcement authorities. Europol will strengthen cooperation with EU agencies: Europol will strengthen cooperation with EU agencies and bodies, namely with Eurojust and with the European Public Prosecutor's Office. Europol will strengthen international cooperation: Europol will strengthen international cooperation with partner countries to jointly tackle global cross-border crime. 2 - Here are the new EU Counter Terrorism measures including measures to fight cross-border crime through Eurojust: Eurojust will strengthen capabilities and operational support: Eurojust will strengthen capabilities and operational support with the mandate to act on its own initiative to identify links between cases, anticipate and decide on the need for coordination, help resolve jurisdiction issues, and support national authorities early in the process. Eurojust will strengthen support in emerging areas of crime: Eurojust will strengthen support in emerging areas of crime through a mandate that will be expanded to strengthen its involvement in emerging issues such as cybercrime, violations of EU restrictive measures, or gender-based violence. Eurojust will strengthen governance and decision-making: Eurojust will strengthen governance and decision-making by streamlining decision-making with more agile processes, administrative efficiency gains, and faster action in urgent and complex cases. Eurojust will be part of an integrated EU criminal justice system: Eurojust will be part of an integrated EU criminal justice system by improving and strengthening its cooperation with Europol and the European Public Prosecutor's Office. A new information system will allow to easily identify information and cases of relevance to both Eurojust and Europol. Eurojust will strengthen international engagement with third countries: Eurojust will strengthen international engagement with third countries from an earlier point, making cooperation with third countries more flexible. Stronger cooperation will also be possible where financial commitments are needed or liaison prosecutors are seconded to Eurojust.

What European Countries have the Highest Construction Prices? - Portugal Business News Real Estate News Europe - Here are the Top 10 European Countries that have the Highest Construction Prices for Residential buildings in 2025, according to data published by Eurostat on June 25th, 2026: While construction prices for Residential buildings in Europe rose by 48.2% between 2015 and 2025, much of this increase was quite recent, as annual rises in 2021 were up by 5.8%, while in 2022 they were up by 12.2%. What is the EU average construction Producer Price Index for Residential buildings? The EU average construction prices for Residential buildings in 2025 was a Producer Price Index (PPI) of 124.2. Here are the Top 10 European Countries with the Highest Construction Prices for Residential buildings in 2025: 1 - Türkiye Türkiye ranks No. 1 country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 618.9. 2 - Montenegro Montenegro ranks 2nd country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 217.4. 3 - Bulgaria Bulgaria ranks 3rd country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 209.4. Bulgaria is one of the countries in Europe where construction prices rose the most quickly during the past decade, rising by +166.1%. 4 - Ukraine Ukraine ranks 4th country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 171.8. 5 - Hungary Hungary ranks 5th country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 159.1. Hungary is one of the countries in Europe where construction prices rose the most quickly during the past decade, rising by +155.4%, 6 - Romania Romania ranks 6th country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 150.9. Romania is one of the countries in Europe where construction prices rose the most quickly during the past decade, rising by +130.7%. 7 - Croatia Croatia ranks 7th country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 150.0. 8 - Slovakia Slovakia ranks 8th country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 149.2. 9 - Serbia Serbia ranks 9th country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 140.5. 10 - Lithuania Lithuania ranks 10th country in Europe with the highest construction prices for Residential buildings in 2025 with a Producer Price Index (PPI) of 138.1.

What are the new EU Green rules to prevent Greenwashing? - Portugal Business News Green News Europe - Here are the new EU Green rules to prevent Greenwashing, according to an announcement dated June 24, 2026: The new EU Green rules approved by the Council update the existing Sustainable Finance Disclosure Regulation (SFDR) and will now have to be voted by the European Parliament. What are the new EU Green rules to prevent Greenwashing? The revision of the EU Green rules to prevent Greenwashing will replace existing concepts which have led to ‘greenwashing’. Greenwashing includes cases in which companies give a false impression of their environmental impacts or benefits. The new EU Green rules to prevent Greenwashing revise the following categories: Sustainability: The new EU Green rules include products that contribute to sustainability goals, such as investments in companies or projects already meeting high standards. Green transition: The new EU Green rules include products channelling investments towards companies or projects that, while not yet sustainable, are on a credible path. Environmental, Social, and Governance (ESG) rules: The new EU Green rules include other products that may integrate ESG approaches but do not meet the criteria of sustainable or transition categories What are the specific revisions to the new EU Green rules? The review updates the already existing Sustainable Finance Disclosure Regulation (SFDR) which requires market participants to disclose how they integrate Environmental, Social, and Governance (ESG) sustainability risks and adverse impacts into their investment offers. EU Revisions in the Sustainability category: The new EU Green rules strengthen the sustainable category by stipulating when companies identify and disclose the principal adverse impacts of their investments on sustainability factors. They must make mandatory use of at least three indicators from a list to be provided by the European Commission to support their claims. This should allow for better comparability between financial products. EU Revisions in the Green Transition category: To recognise their important role in the Green transition, the EU clarifies that investments in companies active in the fossil fuel sector which allocate 20% of their capital expenditure to economic activities aligned with EU taxonomy (green classification) rules, and with a clear, time-bound strategy to reduce greenhouse gas emissions, may be considered for inclusion in the Transition category. To enhance transparency, such investments must also be subject to a fourth mandatory indicator when assessing adverse impacts. Green issuances by public sector bodies: Green issuances by public sector bodies represent a significant share of investments by financial market participants, in particular financial products in the insurance and pension sectors. Recognizing the established framework of climate and sustainability commitments at EU level, which makes it possible to meaningfully assess their compatibility with sustainability objectives, the EU will explicitly allow the inclusion of such issuances by Union-established bodies in the transition category under certain conditions. Exclusions for alternative investment funds offered exclusively to professional investors: The new EU Green rules allow financial market participants not to apply the categorisation provisions for alternative investment funds offered exclusively to professional investors, given that such investors do not need the same level of standardized information that should be made available to retail investors.

Spanish FOSSA Systems raises 9.25 million euros for Defence Satellites - Portugal Business News Defence News Europe - Spanish FOSSA Systems just raised 9.25 million euros for Defence Satellites in a funding round led by Kibo Ventures, according to an announcement dated June 24, 2026. Here are the new investors of FOSSA Systems and their expansion plans: What is the new investment obtained by FOSSA Systems? FOSSA Systems just raised 9.25 million euros in a funding round led by Kibo Ventures, with participation from SETT Spain, Space Frontiers Fund II (SPARX), Índico Capital Partners, and WISeSat.Space. Aquilino Peña from Kibo Ventures will integrate the Board of Directors of FOSSA Systems as they enter this next phase of growth. This new investment will accelerate their international expansion, strengthen the deployment of their satellite constellation, and advance new capabilities in the Defence sector: “Thanks to FOSSA, small nations, Ministries of Defence, and global corporations can define and execute their own space strategy in just a few months, while the vertical integration of the entire technology chain has allowed us to reduce costs by an order of magnitude.” - CEO & Co-founder of FOSSA Systems, Julian Fernandez. About FOSSA Systems: FOSSA Systems is Defence Satellite manufacturing company headquartered in Madrid that provides accesible IoT and Space Technologies. It is the only European verticalized satellite provider specialized in low-power SATCOM communications, end-to-end satellite design and manufacturing and SIGINT. With 25+ satellites already launched and their upcoming next launch, FOSSA Systems continues to build one of Europe’s most active and ambitious space infrastructure platforms, providing Secure Satcom and SIGINT in Space. 🌍 The mission of FOSSA Systems remains clear: to connect, monitor, and protect critical assets worldwide through sovereign space infrastructure.

Here is the European Commission´s Tax Simplification Package - Portugal Business News Financial News Europe - Here is the European Commission´s Tax Simplification Package, The Competitiveness Compass, including all the main measures that are set to be implemented by 2028, according to an announcement dated June 24, 2026: If the European Commission Tax Simplification Package is adopted and implemented as set out below, the measures are expected to reduce compliance and related financial costs by about 6.6 billion euros per year, out of which 2 billion euros per year will be saved in recurrent costs related to administrative burdens. Most of the EU Tax Simplification measures are frontloaded and should be implemented by 2028. The rest of the measures, including those that aim to improve the effective functioning of the Directive, should be implemented by 2030. What is the European Union´s Tax Simplification Package? The European Union´s Tax Simplification Package, The Competitiveness Compass, was built on the Draghi report to set a clear vision for a more prosperous and competitive EU economy since simple Tax Regulations are key to a more competitive and investment-friendly Europe. The European Union´s Tax Simplification Package aims to reduce administrative burdens in EU countries by at least 25% for the taxation of companies and by at least 35% for SMEs. This should translate to at least 37.5 billion euros in annual cost savings for companies in the EU by 2029. What are the main measures in The European Union´s Tax Simplification Package? Here are the main measures in the EU Tax Simplification Package: 1 - Creating a Direct Taxation Omnibus for a more investment-friendly tax framework: The European Union´s Tax Simplification Package introduces an exemption from withholding tax on all cross-border payments of dividends, interest, and royalties between companies in the EU. By removing upfront procedural requirements and simplifying refund processes, the measure will facilitate financing, encourage investment, and enhance competitiveness. This measure alone should bring EU taxpayers savings and benefits of around €5.3 billion annually. 2 - Simplifying the interest limitation rule in the Anti-Tax Avoidance Directive: The European Union´s Tax Simplification Package also simplifies the interest limitation rule in the Anti-Tax Avoidance Directive (ATAD) by eliminating implementation options and making the de minimis threshold mandatory. These changes will bring about compliance and administrative reductions amounting to over €500 million per year. 3 - Removing overlapping provisions between the Controlled Foreign Company (CFC) rules and the global minimum tax The European Union´s Tax Simplification Package removes overlapping provisions between the Controlled Foreign Company (CFC) rules and the global minimum tax (Pillar Two), reducing unnecessary complexities and overlaps. This measure should save businesses approximately €160 million in compliance costs annually. 4 - Introducing a single-model approach for the Controlled Foreign Company (CFC) Framework The European Union´s Tax Simplification Package introduces a single-model approach for the Controlled Foreign Company (CFC) Framework that will simplify its application across the EU, ensuring greater clarity and uniformity, and reducing compliance costs by about €45 million per year. 5 - Introducing a common minimum standard for the tax treatment of investment in R&D The European Union´s Tax Simplification Package introduces a common minimum standard for the tax treatment of investment in R&D related tangible assets across the EU, making the Union a more attractive location for investment in research and innovation. This is estimated to grow the EU´s GDP by around 0.2% per year, providing a boost to the economy. 6 - Removing reporting obligations for Multinational Enterprises (MNEs) subject to the minimum 15% tax rate The European Union´s Tax Simplification Package removes reporting obligations for 3,000 Multinational Enterprises (MNEs) subject to the minimum 15% tax rate under Pillar 2 rules, generating compliance cost savings of around €300 million. It also eliminates reporting requirements for all other EU businesses for certain cross-border tax arrangements that provide limited added value for tax administrations, reducing reporting volumes by 35% and saving €40 million annually. 7 - Increasing the reporting threshold for the online sales of goods The European Union´s Tax Simplification Package increases the reporting threshold for the online sales of goods, removing reporting obligations on over 10 million private sellers, particularly those selling second-hand goods. This measure delivers compliance cost savings of €678 million for digital platforms. 8 - Introducing a single notification requirement for country-by-country reporting by MNEs The European Union´s Tax Simplification Package streamlines the notification process for MNEs by introducing a single notification requirement for country-by-country reporting and the central filing of top-up tax information returns. This measure will save over €260 million annually. 9 - Introducing a new verification tool for taxpayer identification numbers The European Union´s Tax Simplification Package introduces a new verification tool for taxpayer identification numbers, ensuring that tax administrations can efficiently and effectively identify all reported taxpayers. 10 - Enhancing the existing Tax framework for the automatic exchange of information on certain categories of income and capital The European Union´s Tax Simplification Package enhances the existing framework for the automatic exchange of information on certain categories of income and capital by requiring that all information available on all categories is exchanged while, at the same time, providing a legal basis for Tax Authorities to access this information. These measures will significantly reduce compliance costs for EU businesses by more than €1.3 billion annually while ensuring that tax administrations remain fully equipped to safeguard their tax revenues and combat tax fraud, evasion, and avoidance.

The Digital Euro is adopted by the European Parliament - Portugal Business News Financial News Europe - The Digital Euro is adopted by the European Parliament, according to an announcement published on June 23rd, 2026. Here are all the specifications that apply to the distribution of the Digital Euro: The establishment of the digital euro was adopted by the European Parliament with 43 votes to 14, with 1 abstention. The final legislation will have to be negotiated with the Council before coming into force. What is the Digital Euro? 1 - The Digital Euro will be a new, electronic form of money issued by the European Central Bank (ECB) and will work online and offline: Online payments will be processed through an account-based system, while offline payments will work directly via local storage devices. The offline functionality of the Digital Euro will be equivalent to using physical cash, as losing the device would mean losing the offline money with no refund possible. 2 - Privacy-by-design and privacy-by-default principles will be built into the Digital Euro: Cutting-edge technologies, such as “zero-knowledge proofs”, will allow transactions to be verified without exposing personal data, which would be processed only to the extent strictly necessary for the system to function. The ECB will not have access to personal identification data. 3 - All payment service providers (PSPs) will distribute the Digital Euro: All payment service providers (PSPs) will distribute the Digital Euro, including banks, e-money providers, post offices, and regulated crypto-asset providers, will be allowed to distribute the Digital Euro across the EU. Most businesses would be required to accept it. Exceptions would apply to the self-employed, and small and micro enterprises that do not accept other digital payments. 4 - People living outside the Euro area will be able to use the Digital Euro: Temporary refusals, such as during a power outage, would also be allowed under specific conditions. Visitors, tourists and, in some cases, people living outside the euro area would also be able to use it. 5- Digital Euros services will be free: Basic services, such as opening a Digital Euro account, holding and managing funds, and getting at least one payment instrument, will be free of charge. PSPs could charge for extra services, with the exception of account maintenance, inactivity penalties or service bundling. Fees for merchant and inter-provider will be capped, while offline payments will be entirely fee-free. 6 - There will be a maximum amount of Digital Euros allowed per person: To protect the financial system, there will be a cap on how many Digital Euros any individual will be allowed to hold. The EU ceiling should be set by the Commission, based on ECB recommendations, and will be reviewed at least every two years. The Parliament will have full decision-making powers in this process. 7 - Companies will not be allowed to hold Digital Euros: Businesses will not be allowed to hold Digital Euros, except to accumulate incoming payments for up to 24 hours. Crucially, the digital euro will not earn or cost any interest. 8 - The Digital Euro will be rolled-out within 2 years: Before the launch, the ECB will finalise a rulebook, build the infrastructure, run real-life pilot tests, and iron out liability rules with particular attention to offline risks, like double-spending. Once authorised, a roll-out period of at least 24 months will follow, giving banks, providers, and users time to prepare. 9 - Banks and Payment Service Providers from non-Euro countries will be allowed to distribute the Digital Euro: A second file on the provision of Digital Euro services by payment services providers incorporated in member states whose currency is not the Euro, will allow banks and PSPs from non-euro EU countries to distribute the Digital Euro, subject to the same rules, while the ECB will retain the power to restrict access and use. Non-Euro EU member states will also need to appoint a national authority to monitor any impact on their own currency. 10 - Companies will not be allowed to ban cash in the Euro area: A third file, on the legal tender of Euro banknotes and coins, will oblige Euro area countries to keep cash accessible and to plan for digital payment disruptions. Businesses will not be allowed to ban cash through "no cash" signs or standard contract terms. Member states will also need to check cash availability regularly, with special attention to vulnerable groups, such as the elderly, low-income individuals, and the unbanked.