Global Scans · Tax · Weekly Summary

• [New] Newly arriving individuals who have not been UK resident in any of the preceding 10 tax years may be eligible for up to four years of full relief on foreign income and gains, a potentially compelling window of opportunity for internationally mobile individuals. Mishcon de Reya LLP
• [New] Paired with the CRA's published tax-gap reduction strategy, which commits additional resources to corporate tax audits in Canada and cross-border enforcement, the proposals signal that audit activity will increase materially for fiscal years 2026 and beyond. Global Law Experts
• [New] If all other states taxed either targeted advertising, or all advertising, at rates comparable to current sales taxes that they levy on other forms of consumption, they could collectively raise roughly $16 billion to $27 billion a year. Institute on Taxation and Economic Policy (ITEP)
• [New] For non-UK fund executives who spend time working in the UK, it will be important to keep track of UK workdays in order to clarify the scope of potential UK tax exposure on their carried interest. Sidley Austin LLP
• [New] Tax reform is shaping up to be a key theme of the 2026 federal budget, but it will not be the only thing Australian business owners will be looking for on budget night. SmartCompany
• [New] Combined, solar and battery storage (which banks excess energy for use when the sun's not shining) accounted for 79% of power generation brought online in 2025 and are expected to continue to grow by 49% before the Inflation Reduction Act tax credits expire at the end of 2027. Hendersonville.com
• [New] The US fiscal position will deteriorate in 2026 due to tax cuts in the One Big Beautiful Bill Act, although tariff revenues will offset half the OBBBA's fiscal impact. MarketForces Africa
• [New] Eliminating the American Opportunity Tax Credit and the Lifetime Learning Credit could save $132 billion over 10 years. Minding the Campus
• [New] In March, Washington (one of nine US states without an income tax) passed a 9.9% tax on personal income above $1 million per year from 2029. Spear's
• [New] Washington state has approved a 9.9% income tax on million-dollar incomes, set to take effect in 2028. Mirage News
• [New] The 5 p per liter hike in the tax on fuel is set to come into force in September on a staggered basis, with fuel duty returning to the full rate by March in 2027. City AM
• [New] Expect accelerated permitting for domestic transformer manufacturing, possible tax incentives for residential islanding capability beyond the existing solar ITC, and updated interconnection standards that may eventually require new solar installations to include battery backup. Collapse Oracle
• [New] Roughly 76% of solar and 86% of wind projects slated to come online by 2029 - or about 33 gigawatts of capacity - are estimated to be safe-harbored and will retain their tax credit eligibility. Center for Strategic and International Studies

Last updated: 11 May 2026