Global Scans · Tax · Weekly Summary

• [New] The 2026/2027 tax year represents a significant shift in the UK's fiscal landscape. Armstrong Watson
• [New] A temporary boost to income tax receipts between 2026/27 and 2027/28 is expected, due to the Temporary Repatriation Facility and its special tax rates for former non-UK domiciled individuals. Baker McKenzie
• [New] The scope of inheritance tax will be expanded so that UK agricultural land will always be subject to inheritance tax, even if it is held through a non-UK entity. Baker McKenzie
• [New] Along with changes to post-Brexit subsidies, food producers have been struggling with unpredictable weather amid the climate crisis, lower prices for their crops on global markets and the impending introduction of inheritance tax on agricultural properties. The Guardian
• [New] GDP growth is projected to approach 3% in 2026, supported by tax-cut-driven consumption and continued AI investment. UCLA Anderson School of Management
• [New] The 3% sales tax on business-to-business IT and data services was expected to generate $500 million, but initial numbers reviewed by Maryland Matters show collection is off by as much as 90%. Maryland Matters
• [New] Bills granting President Ferdinand Marcos Jr. emergency powers to suspend excise taxes on fuel will get priority as oil costs rise. The Asia Cable
• [New] At full adoption levels, some industries could achieve savings worth more than 50% of estimated 2026 consensus pre-tax earnings. HealthManagement.org
• [New] In Japan, Prime Minister Sanae Takaichi's recent spending package of 21.3 trillion yen, equivalent to $136 billion, came with a high-profile proposal to cut the consumption tax, which could spur Japanese imports. MIT Initiative for New Manufacturing Substack
• [New] The expiration of specific tax credits at the end of 2025 is expected to impact EV sales in early 2026 negatively. The FreightFA Brief
• [New] As Canada enters the 2026 tax year, key upgrades from the Canada Revenue Agency and the Government of Canada will influence people, businesses, and tax experts alike. Keltrac
• [New] South African taxpayers involved in crypto transactions or holding digital assets should anticipate increased scrutiny and enhanced information sharing among tax authorities, emphasising the necessity for precise tax reporting and compliance in their income tax returns. IOL
• [New] Recent experiences in states such as Ohio illustrate the risks of incentive structures that rely on sweeping tax exemptions - particularly property tax abatements - for large, energy-intensive projects such as data centers. Kentucky Resources Council - Environmental Defense for
• [New] The tax landscape has shifted dramatically with the passage of the One Big Beautiful Bill Act, the IRS is facing serious legal challenges over taxpayer privacy, and rising costs of living are pushing more middle-income earners into tax provisions they never expected to encounter. MAS LLC
• [New] Strong performance in UK equity markets in recent months has led the OBR to forecast increased receipts from capital taxes. Wilson Partners
• [New] Economists now expect growth to approach 3% in 2026, driven by income tax cuts, expanded fiscal stimulus and massive investment in artificial intelligence infrastructure. UCLA
• [New] A €2 tax on small parcels entering France from non-EU countries may affect drivers as it will apply to smaller purchases for vehicles such as lightbulbs or accessories coming from outside the EU. connexionfrance
• [New] While the transition to electric vehicles will take longer than many thought, and the Trump administration has rolled back fuel efficiency standards, structural trends toward more efficient and electric cars undermine fuel taxes as a basis for transportation finance. American Affairs Journal
• [New] Singapore raised its carbon tax to S$25 per tonne in 2024 and 2025, and it will rise to S$45 per tonne in 2026 and 2027. Carbon Credits
• [New] The UK government is considering an early phaseout of its North Sea windfall tax, which could serve as a re-rating catalyst for Harbour Energy, Ithaca Energy, and Serica Energy. usfunds

Last updated: 16 March 2026