Global Scans · Tax · Weekly Summary

• [New] A Rich Polluter Profit Tax on fossil fuel companies could raise US$ 400 billion in the first year. Pearls and Irritations
• [New] As the future of the IRS-ICE agreement remains unclear, community organizations that provide free tax services say they are still hearing worries from ITIN holders - who are afraid that filing their taxes in 2026 could come at great personal risk. KQED
• [New] As 2026 unfolds, tax leaders must consolidate their strategies and embed robust, risk-aware operating models. Tax Adviser
• [New] Bank of America analysts are expecting bigger federal tax refunds in 2026 to boost consumer spending. KVII
• [New] The corporate and individual tax breaks in OB3 altogether will provide an average annual federal tax reduction of $84,800 to the top 1% of Massachusetts households. Mass. Budget and Policy Center
• [New] For companies, there is a declining balance depreciation: anyone who buys an electric car between 2025 and 2028 can deduct 75% of the purchase cost from their taxes in the first year. ELECTRA
• [New] Over the period 2047 to 2056, Social Security and Medicare spending will exceed the combined value of payroll tax receipts and premiums by an average of 5.2% of GDP, up from 2.7% in 2026. American Enterprise Institute - AEI
• [New] Companies operating in Mexico should expect increased scrutiny of ESG disclosures, greater convergence between sustainability reporting and financial reporting, and continued reliance on environmental taxes as a practical enforcement and behavioral tool. JD Supra
• [New] Economists are puzzling out whether job creation will eventually accelerate to catch up to strong growth, perhaps as President Donald Trump's tax cuts translate into big tax refunds that Americans start spending in 2026. Boulder Daily Camera
• [New] Extra federal tax breaks in 2026, along with more forgiving comparisons with last year, could help restaurant-industry sales growth in 2026. Morningstar, Inc.
• [New] High expected tax refunds could support private consumption in the US. DJE Kapital AG
• [New] The new Productivity Super-Deduction will reduce Canada's marginal effective tax rate to 13% - more than four percentage points lower than the United States. Prime Minister of Canada
• [New] Mexican migrants could pay US$ 3 billion in remittance-related taxes between 2026 and 2034 if current transfer volumes and channel usage persist. Mexico Business
• [New] If 2025 was defined by the passage of sweeping Republican priorities through reconciliation, 2026 will be shaped by what comes next: tax and trade policy will remain central arenas where affordability, competitiveness, and geopolitical positioning intersect. JD Supra
• [New] India announced a significant tax incentive plan offering zero taxes until 2047 to attract global AI workloads. AGI Agent
• [New] A tax holiday until 2047 has been proposed for cloud service providers setting up Indian data centers and serving customers locally. Economic Times
• [New] Cloud Tax Holiday: Foreign companies providing cloud services to global customers from Indian data centers receive a tax holiday until 2047 to incentivise data localization. PMF IAS
• [New] Tax payers in Brandon will be paying 6.7% more in property taxes in 2026. Q Country 91.5FM
• [New] Looking ahead to 2026, recruitment platforms expect AI adoption and new tax policies to further reshape hiring strategies. VnExpress International
• [New] If the IEEPA tariffs are permanently enjoined, the remaining tariffs will increase federal tax revenues by $53.8 billion in 2026, or 0.17% of GDP, and fall outside of the top 20 tax increases since 1940. Tax Foundation
• [New] Pesticide expenses and fuel and oil costs are expected to decline in 2026, while property taxes, fees and electricity expenses are forecast to increase. American Farm Bureau Federation
• [New] The talks, which will also examine initiatives to curb tax abuse, are a last chance for Europe to tackle tax-dodging US multinationals. Positive News

Last updated: 16 February 2026