Global Scans · Tax · Weekly Summary

• [New] The European Commission plans to propose a new regulation next month that introduces goals for smart meter adoption and tax changes designed to promote clean energy. financialpost
• [New] U.S. SAF Grand Challenge is aiming at an annual production level of 3 billion gallons by 2030, and 35 billion gallons by 2050, besides being backed by tax credits amounting to $1.75 per gallon under the Inflation Reduction Act. Yahoo Finance
• [New] The House-passed Taiwan tax bill could be a legislative priority around which both parties could coalesce. Forvis Mazars
• [New] The long-overdue property tax reform is the clearest example, as imposing one while home prices are still falling would intensify negative wealth effects and risk accelerating the very price declines Beijing is trying to arrest. Asia Society
• [New] Cannabis operators have incurred an estimated $2.24 billion in tax overpayments compared to other American industries as a direct result of 280 E, a provision that will no longer apply under rescheduling. Vicente LLP
• [New] A new Polish law will impose a high excise tax, flavour bans, and a whole host of other fresh restrictions on nicotine pouches, driving smokers away from using them to quit cigarettes. New Eastern Europe
• [New] The Treasurer Jim Chalmers will try to reinvigorate Australia's lacklustre productivity growth by cutting regulatory costs by $10 billion a year for business, including for project approvals, tax system compliance, international trade and building regulations. Governance Institute of Australia
• [New] The Working Australians Tax Offset will be a permanent offset of up to $250 from the 2027-28 income year and is expected to apply to more than 12.5m Australians. The Guardian
• [New] Currently, discretionary trusts allow some Australians, often high wealth individuals and families, to plan their tax affairs in ways that are not available to most people. Prime Minister of Australia
• [New] US multinationals should anticipate a marked increase in tax enforcement, driven in large part by the full implementation of Golden Tax IV system. TaxProf Blog
• [New] Among refundable tax credits, the Earned Income Tax Credit, refundable premium tax credits, and the American Opportunity Tax Credit all had error rates above 30%. Committee for a Responsible Federal Budget
• [New] CARF is a global standard requiring crypto exchanges in 48 jurisdictions to collect user transaction data and share it with tax authorities for cross-border exchange beginning in 2027. FinanceFeeds
• [New] California has brought in $16.5 billion more in tax revenue than expected over the last three years. KCRA
• [New] Implementation of a UK corporate re-domiciliation regime will require primary legislation to make the required changes to company and tax legislation. Mishcon de Reya LLP
• [New] Inflation is broadly expected to remain in the 2% -3% range, interest rate conditions remain uncertain, and annual updates to Canada Revenue Agency limits, along with legislative and tax policy changes, may affect planning assumptions. Learning
• [New] To keep the Highway Trust Fund solvent as fuel-tax revenue declines, states would collect annual EV registration fees - starting at $130 for a full electric vehicle and $35 for a plug-in hybrid, rising every two years from 2029. Tentrucks
• [New] Sensible public policy would allow tax concessions only for businesses that will eventually lift Australian living standards. The Sydney Morning Herald
• [New] This week's wealth tax developments reflect continuing debate across California, Connecticut, Washington, New York City, and beyond, with supporters framing new taxes as a response to inequality and public-funding pressures while critics warn about migration, competitiveness, and legal risk. Family Enterprise USA
• [New] 2026's Federal budget included significant changes to tax policy that will have a material impact on Australia's housing markets over the short, medium and long term. Westpac IQ
• [New] Widespread AI-driven job losses could eventually undermine UK tax revenues if income tax and National Insurance receipts decline significantly. CPA | The Credit Protection Association
• [New] Further to Canada's proposed National Electricity Strategy, the federal government will support upgrades to electricity systems across Canada and increase generation - including adding major high-voltage intra-provincial transmission to the Clean Electricity Investment Tax Credit. Prime Minister of Canada
• [New] A central feature of the 2026-27 Federal Budget is tax reform designed to improve disposable income for working Australians. Zoom Recruitment
• [New] A Working Australians Tax Offset valued at 250 dollars per year will commence from the 2027-28 income year and is projected to benefit more than 13 million workers. Zoom Recruitment

Last updated: 08 June 2026