Global Scans · Tax · Weekly Summary

• [New] Poland anticipates that a few thousand Polish entities will be obliged to test their effective tax rate for the purposes of the National Compensatory Tax (a qualified domestic minimum top-up tax due from Polish entities) making the NCT the main element of the Pillar Two implementation in Poland. A&O Shearman
• [New] 707 out of 2,526 multinational groups with foreign parents and Spanish subsidiaries will likely be subject to the Spanish Complementary Tax. A&O Shearman
• [New] The Spanish Complementary Tax Law is not merely a straightforward implementation of global standards, but rather an adapted approach that will require some time and effort to fully understand and implement. A&O Shearman
• [New] Sugar taxes and warning labels push brands to make healthy yet affordable products. CNS Media
• [New] A repeal or curtailment of IRA tax credits could slow clean energy deployment by 57% to 64% over the next decade. investing.com
• [New] National insurance thresholds freezes are set to carry on until 2028, paving the way for a stealth tax, aka 'fiscal drag'. Small Business UK
• [New] House Bill 2038, scheduled to take effect in early 2026, would apply a 0.4% tax on the Washington-based income of large, for-profit companies operating social media platforms. TruLaw
• [New] U.S. universities are preparing for a wave of financial strain as a newly proposed endowment tax threatens to tighten budgets across higher education. University Herald
• [New] The Commission's growing interest in curbing intra-EU tax competition, combined with political momentum for harmonization, could limit Italy's freedom to sweeten its fiscal offers indefinitely. European Business Magazine
• [New] Demand for fully electric vehicles could be cut in half without tax credits. Yahoo Finance
• [New] Tax code changes under OBBBA are expected to increase tax refunds for lower-income Americans in 2026, boosting real take-home pay for the bottom half of earners. Brownstein
• [New] The first wave of deployment will integrate AI agents with tax professionals to support more than 3m tax compliance deliverables and help reshape over 30m tax processes in the coming year. MIT OpenCourseWare
• [New] Trump's budget reconciliation bill that passed in July included $703 billion in temporary tax cuts over the next four years starting in 2026, also providing substantial stimulus. Los Angeles Times
• [New] UK CBAM will be integrated into the Disclosure of Avoidance Schemes for VAT and Other Indirect Taxes regime, potentially requiring disclosure of tax avoidance schemes related to UK CBAM liabilities. JD Supra
• [New] Germany's government has confirmed it will extend the vehicle tax exemption for electric cars. Clean Energy Wire
• [New] The EU is set to introduce a carbon tax on 15 million metric tons of nitrogen-containing imports into the EU, which will affect import costs. DTN Progressive Farmer
• [New] The European Union's carbon border tax could raise fertilizer import costs in 2026. DTN Progressive Farmer
• [New] Insurer filings reveal widespread and substantial proposed rate increases for 2026, with insurers commonly citing increasing health care costs and the expiration of enhanced premium tax credits as key drivers. The Commonwealth Fund
• The US government deficit is set to balloon further as tax cut extensions take hold in 2026. Business Insider
• Financial institutions will have additional semiannual obligations to report suspicious multiple transactions to the Chilean tax authority. MIT OpenCourseWare
• The concept of tax sustainability is elevated to a legal status, stipulating that taxpayers will now be able to utilize third parties to certify their compliance with sustainability standards, as well as enter into cooperative compliance agreements with the Chilean tax authorities. MIT OpenCourseWare
• Media reports cited opposition from several major economies - including the United States - which argued that the proposed global pricing mechanism risked functioning as a carbon tax and could raise shipping costs by more than 10%. UN News
• Without an extension, Affordable Care Act enhanced tax credits will expire at the end of 2025, causing 20 million Americans - including at least 1.6 million New Yorkers-to see a drastic increase in health insurance costs. Kirsten Gillibrand | U.S. Senator for New York

Last updated: 27 October 2025