- From 1 January to 30 June 2026, Cyprus will hold the Presidency of the Council of the EU. In its programme, the Cypriot Presidency set out its main tax priorities for that period:
- continue efforts to combat tax evasion, aggressive tax planning and harmful tax competition
- work on updating the EU list of non-cooperative jurisdictions
- initiate work on the upcoming recast of the Directive on administrative cooperation in the field of taxation
- open discussions on the upcoming omnibus package to streamline direct taxation rules and enhance the competitiveness of EU businesses
- advance the discussions of the Intergovernmental Negotiating Committee on the United Nations Framework Convention on International Tax Cooperation
- continue work on the revision of the Tobacco Taxation Directive
- conclude the technical work regarding the revision of the proposal for the VAT rules on distance sales of imported goods and import VAT
- continue to efficiently address the cross-sectoral issues relating to the Carbon Border Adjustment Mechanism (CBAM), including assessing the legal, financial, economic, and political feasibility of proposed solutions as well as, examining relevant proposals and initiatives, with a view to reaching a General Approach
- stand ready to begin work on upcoming proposals including the proposal on the revision of the Regulation for administrative cooperation and combating fraud in the field of VAT.
- The Presidency's programme also states that the reform of the EU Customs Union constitutes a priority, where the Presidency will aim to conclude trilogue negotiations, reaching a political agreement, on the proposed Regulation establishing the Union Customs Code and the EU Customs Authority (Customs Reform Package).
- Timing: the Cypriot Presidency runs for six months between 1 January and 30 June 2026, the priorities listed above all have different timelines.
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