Tax China's total energy consumption and carbon emissions could peak in 2025, five years ahead of the timeline for the Paris Agreement, if a new carbon tax is implemented and non-fossil fuel energy assumes a greater share of the energy mix. BC's policies on housing will cost it $400 million in tax revenue and damage the BC economy for years to come. Earlier this year, lawmakers in New York City agreed on a plan to implement a congestion tax in Manhattan, which will be the first in the United States. With Section 301 action pending, the French digital tax could provide a useful soundbite for Trump's America First trade vision, without actually having to escalate trade tensions with the EU should the US economy start to look more fragile during the 2020 election season. The tariffs imposed over the past year have not worked, and there's no evidence another tax increase on American businesses and consumers will yield new results. National Treasury will publish a white paper in 2019 to consider new taxes to address air pollution, climate change, efficient water use and ways to restrict and recycle single-use plastics. New technologies will cause more harm than good in the coming decade and 67 percent want the EU to tax companies that automate work. Any digital company with revenue of more than €750m ($850m; £670m) - of which at least €25m is generated in France - will now be subject to the tax, which will be retroactively applied from early 2019 and is expected to raise about €400m in revenue this year. As an indication of the potential returns for such a UK tax, 5 per cent levied on digital advertising services and services provided by online marketplaces / intermediaries would yield an expected gross tax revenue of about £2.02 billion. The US rapidly maturing solar industry will continue to receive tax credits in perpetuity, as the investment tax credit for utility-scale projects is only stepping down from its current 30 percent to a floor of 10 percent in 2021. The Kansas Legislative Research Department forecasts that tax revenues will begin declining as soon as next year, as economic growth slows. French senators voted to pass a new tax, which will impose a charge of 3 per cent on the turnover of digital companies with revenues of more than €750 million globally and €25 million in France. Japan's economy is likely to stop expanding this year and into next with the Sino-U.S. trade war and a planned sales tax hike expected to crimp activity, a Reuters poll of Japanese companies found, with most calling for fresh stimulus to prop up growth. High cost of subsidies and the Niger Delta amnesty program as well as the implementation of the new minimum wage will further stretch the government's purse and could cause fixed income investors to demand a higher yield for their investments, thereby worsening the government's fiscal profile. Public sectors around the world will continue to focus on cost control, managing down citizen expectations and managing up productivity. Curbing corruption would deliver an additional US$1 trillion in tax revenues annually across the world - money that could support much needed investments in health, education and infrastructure. Japan is anticipating a boost from the 2020 Olympics but is contending with a 2019 consumption tax rise from 8 percent to 10 percent. Looking ahead, a planned consumption tax increase in late 2019 could present challenges to near-term economic growth, while slower global economic growth and increased trade tensions could present additional challenges to the Japanese economy. Vietnam's agricultural, garment, and aquatic products will gain tax exemptions when entering the Japanese market, and Japanese industrial products, including car components and electronic products, will gain tax exemptions or see a decrease to the corresponding import taxes. Chinese module manufacturers also have their eyes on international markets due to attractive policy incentives: The US market is expected to be hot until the ITC (investment tax credit) stepdown is completed by 2022. The demand for and cost of care services in Finland are growing while tax revenues are decreasing, leading politicians to warn that the Nordic model of highly state-funded cradle-to-grave social care will no longer be affordable. If Brexit has negative effects on tax revenue because of lower growth, or induces higher spending to alleviate the consequences of leaving the EU, then the windfall gain could be offset. See full forecast Last updated: 25 August 2019
