1. Ireland Strengthens Anti-Money Laundering Measures

The Irish Government has approved a comprehensive 30-point action plan aimed at reducing the risks of money laundering and terrorist financing following the completion of the National Risk Assessment.

Key provisions:

• stricter controls over crypto-assets and digital financial transactions are being introduced;

• AML requirements for the gambling sector are being expanded;

• requirements for transparency of company ownership structures and disclosure of trust beneficiaries’ information are being increased;

• by the first quarter of 2027, automatic verification and reconciliation of data between beneficial ownership registers will be ensured;

• information exchange and cooperation between authorities investigating financial, tax, and customs offences will be strengthened.

The implementation of the plan is expected to increase the transparency of the Irish financial system and prepare the country for the next FATF mutual evaluation in 2028.

2. The United Kingdom Updates Securities Transaction Tax

On 13 July 2026, the UK Government introduced a reform of the taxation of securities transactions. Starting from 2027, a single Securities Transfer Tax is expected to replace the existing Stamp Duty and Stamp Duty Reserve Tax.

Key changes:

• the standard tax rate will be 0.5% of the market value of the transaction, while transactions settled through certain clearing or depository systems may be subject to a rate of up to 1.5%;

• the obligation to pay the tax will rest with the purchaser; however, a new online portal will allow agents to act as the responsible party for payment, and HMRC will issue a Unique Transaction Reference Number (UTRN) immediately after the return is submitted;

• the new tax will apply to shares of UK issuers, option instruments, warrants, and certain types of convertible bonds.

Taxing the transaction itself, rather than the investor's profit, may increase the cost of each transaction, potentially affecting market liquidity and increasing the cost of raising capital for UK companies.

3. China Accelerates the Transition to Fully Digital Electronic Invoices

China continues to implement its invoice digitalisation strategy. In many regions, taxpayers have been prohibited from issuing existing paper invoices after 30 June 2026, with a full transition to electronic documents.

Key changes:

• in Zhejiang Province, the tax authorities stopped accepting applications for the printing of provincial-level paper invoices from 30 April 2026, and their issuance ceased completely from 30 June 2026;

• new electronic invoices may be issued exclusively through dedicated government platforms;

• paper invoices issued before 30 June 2026 remain legally valid.

The transition to electronic invoices is part of broader reforms aimed at reducing administrative costs and achieving the full digital transformation of tax administration.