Global Scans · Tax · Weekly Summary

• [New] Business rates-similar to council tax but for commercial properties - are expected to more than double over the next three years. / UK Bitget
• [New] Under the agreement reached between Carney and Chinese President Xi Jinping last week, China will lower levies on Canadian canola oil from 85% to 15% by March, while Canada will tax Chinese EVs at the most-favoured-nation rate, 6.1% - down from 100%. BBC News
• [New] The One Big Beautiful Bill Act looks to reduce projected Medicaid spending by $910 billion over the next decade, a reduction that has provoked a wealth tax campaign in California. Hoover Institution
• [New] The MTA admitted that because of the change in traffic patterns, the Congestion Tax will lead to more cancer-causing pollution in Northern New Jersey and in the Outer Boroughs. Josh Gottheimer
• [New] Many lower - and middle-income earners will pay less tax than they would elsewhere in the UK. The Conversation
• [New] With tax cuts and refunds, the economic momentum is expected to carry over into first part of the year. / USA investing.com
• [New] Greater clarity in India's approach could help stem the migration of trading activity offshore, in line with international efforts to modernise crypto tax regimes. Mint
• [New] The Section 232 tariffs will increase US federal tax revenue by $635 billion from 2026 through 2035. Tax Foundation
• [New] A notable silver lining is the recent more than doubling of funding for California's film and television tax credit program, which is anticipated to support a modest improvement in production levels in 2026. Hospitality Net
• [New] Thanks to the Energy Dominance Financing Program (EDF) created under the Working Families Tax cut, the Energy Department will continue to sponsor the development of natural gas projects in the U.S.Expanding natural gas production will keep costs low for American households. Energy.gov
• [New] Restoring the tax credits and adopting more ambitious climate and clean energy policies that nearly decarbonize the power sector by 2050 (the Low-Carbon Policy scenario) results in higher costs of $291 billion (12%) from 2026 to 2035 and $412 billion through 2050 compared with Current Policies. The Equation
• [New] California's new Program 4.0 tax credit has successfully spurred a resurgence in big-budget filmmaking, securing $1.4 billion in projected spending from major projects like The Mandalorian & Grogu and Heat 2. Production Lot
• [New] Goldman Sachs offers a more optimistic outlook, expecting the US to substantially outperform consensus estimates due to tax cuts, easier financial conditions, and reduced tariff drag. Medium
• [New] 2026 Medicaid cuts alone could cost states nearly 900,000 jobs and more than $100 billion in gross domestic product and tax revenue. Governing
• [New] The commercial solar tax credit, taking off 30% the cost of equipment and installation, will continue for the next two years under two separate tracks depending on when a solar project begins construction. Secure Solar Futures
• [New] Canadian prime minister Mark Carney announced his country will slash its 100% import tax on Chinese EVs to just 6.1%. TechCrunch
• [New] A critical policy change involves restoring 100% bonus depreciation in federal tax law for 2026, which industry analysts expect will fuel a 5-15% increase in fiber-to-the-home capital expenditures. Wray Castle
• [New] Success in 2026 will hinge on adaptability, digital innovation, and maximizing new tax advantages from the OBBBA - all of which can improve cash flow and support ongoing investment. / USA Digital Dealer
• [New] Almost half of potential electric vehicle buyers are reconsidering purchases following proposals for a 3 p-per-mile road tax from 2028. CPA | The Credit Protection Association
• [New] Ahead of the 2027 general elections, President Bola Ahmed Tinubu has pushed through with an ambitious tax reform bill, following the politically explosive removal of fuel subsidies upon his swearing-in as president in 2023. / Nigeria Modern Diplomacy
• [New] US President Donald Trump says he will charge a 10% import tax starting in February on goods from eight European nations because of their opposition to American control of Greenland. Australian Broadcasting Corporation
• [New] The European Union and the U.S. are both considering scoring crypto assets based on how clean or dirty they are, while the IMF has proposed a carbon tax on crypto miners that could raise $5 billion per year in revenue while cutting carbon pollution up to 110 million tons. The Cool Down
• [New] Minnesota tax professionals and vendors should prepare for a key change in sales tax remittance requirements beginning in calendar year 2027. DMA

Last updated: 26 January 2026