Global Scans · Tax · Weekly Summary

• [New] In line with an agreement reached between the U.S. and other G7 countries last summer, a new safe harbour will effectively deem the U.S. tax system compliant with Pillar 2 and exempt U.S. MNE groups from certain top-up taxes. Grant Thornton
• [New] Consumer spending could get a tailwind from what economists anticipate will be larger tax refunds in 2026 because of tax cuts. The Guardian
• [New] US economic growth slowed more than expected in the fourth quarter amid disruptions from last year's government shutdown and a moderation in consumer spending, but tax cuts and investment in artificial intelligence were expected to support activity in 2026. The Guardian
• [New] Net interest outlays will rise from $1 trillion in 2026 to more than $2.1 trillion by 2036, when interest payments alone are projected to consume more than a quarter of total tax revenues. Reason.com
• [New] The higher effective tax burden, compared to banks and brokerage firms, has already reduced investor appetite, with expected yields falling from 16.5-20% in 2025 to 15-18% in 2026. Miranda Intelligence
• [New] There is concern over sunsetting tax credits in last year's OBBB budget law that could delay or shelve up to 75% of U.S. offshore and onshore wind projects after 2027, years earlier than originally set in the 2022 Inflation Reduction Act, said a new report by Enverus Intelligence Research. Engineering News-Record
• [New] Foreign funds that once wrote large checks into Indian AI companies now price in regulatory and tax risk that their competitors in the US, UK, and France do not face. Get Down and Shruti
• [New] India's tax regime is unpredictable, and gains that appear exempt today may be taxed tomorrow. Get Down and Shruti
• [New] Affordable-housing investment in advanced markets is forecast to rise 17-20% in 2026, supported by expanded tax-credit allocations and public-private programs. MEXC
• [New] Chalmers has indicated that the May budget will focus on productivity and tax reform as Australia attempts to address its lagging economic performance. Greek City Times
• [New] Washington historically benefited from no income tax and strong engineering talent pipelines, but higher capital gains taxes could deter founders and investors from building companies locally. Bill Ryan
• [New] Colombia is now fighting on three fronts simultaneously: a humanitarian disaster from flooding, the emergency tax battle with the corporate sector, and a trade war with Ecuador that could cut off electricity Colombia supplies and raise oil transport costs for Ecopetrol. The Rio Times
• [New] Colombia is fighting on three fronts: a flood emergency across 16 departments (44 dead, 72,000 families affected), a COP$ 8 trillion emergency tax battle with the corporate sector, and an escalating trade war with Ecuador where reciprocal 30% tariffs threaten $2.8 billion in bilateral commerce. The Rio Times
• [New] By permitting the private labs to earn tax credits by funding National Science Foundation safety grants or offering access to computing resources to university groups, the risk tax would breathe new life into the academic sector. / USA Foreign Affairs Magazine
• [New] A domestic crypto tax reporting regime will commence in 2027, with reporting to the ATO from 2028, to improve transparency and tax compliance. Andersen in Australia
• [New] Key measures include the implementation of the OECD Crypto Asset Reporting Framework from 2027, with the first automatic exchange of crypto-asset information with foreign tax authorities occurring in 2028. Andersen in Australia
• [New] Ireland has shown that a reduction of corporate tax rates could increase corporate tax revenues; less can be more. De Brauw Blackstone Westbroek
• [New] Following the sunset of federal tax credits, Morgan Stanley projects a 20% decline in EV sales volume for 2026. / USA InsightsMinds
• [New] The tax break is projected to cost approximately 5 trillion yen ($32 billion) annually - nearly equivalent to Japan's entire education budget. IG
• [New] A Rich Polluter Profit Tax on fossil fuel companies could raise US$ 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

Last updated: 23 February 2026