Global Scans · Tax · Weekly Summary

• [New] Japan will increase tax to European levels. Japan Today
• [New] The UK Chancellor's autumn budget confirmed £26 billion in new taxes by 2029 to 2030, signaling a tighter fiscal environment over the next five years. Insurance Business
• [New] The 2005 Energy Policy Act reestablished a solar federal tax credit in the US, which the 2022 Inflation Reduction Act expanded and extended until 2035. The Verge
• [New] A new measure that allows English mayors to raise revenues from overnight stays, while Edinburgh will introduce a tax of 5% of the value of accommodation. Hospitality Net
• [New] The U.S. and OECD hope to outline an agreement on the global minimum tax before the end of the year. Eide Bailly LLP
• [New] By 2034, due in part to the extension of the 2017 Trump tax cuts through 2025's One Big Beautiful Bill Act, the amount of debt held by the public will rise from a projected baseline of 117.1% to 124.6%. Fortune
• [New] Starting in 2026, electric vehicles in China will face a minimum purchase tax rate of 5%, half of the standard 10% rate for other powertrains. EV
• [New] Proposed 21% university endowment tax and NSF budget cuts risk stifling innovation, while regional disparities in EdTech adoption may emerge from decentralized education control. Ainvest
• [New] India and France are nearing a revised tax treaty that will reduce dividend taxes for French parent companies holding over 10% stakes to 5%, while increasing it to 15% for minority shareholders. Economic Times
• [New] Following the end of the federal tax credit and some new models on hold or canceled altogether, most automakers are expected to report serious slumps in EV sales in the last months of 2025. / USA Gizmodo
• [New] Rivian no longer expects to draw revenue from selling carbon credits, and the elimination of federal tax credits up to US$7,500 for new EV purchases will also weaken demand. / USA Automotive World
• [New] The U.K. government's drug rebate tax will fall to 14.5% for new drugs in 2026 - down from nearly 23%. MM+M - Medical Marketing and Media
• [New] Health insurance premiums on the ACA Marketplace are set to rise sharply in 2026 due primarily to escalating health care costs and the scheduled expiration of the enhanced premium tax credits. Bankrate.com
• [New] The U.S. may one day eliminate federal individual income taxes, arguing that soaring tariff revenue could take its place. Harness
• [New] Price reductions on EVs are expected to help counter the scrapping of the tax credit on electric cars in the short term; however, the growing uncertainty around EV uptake could drive some automakers to stall new EV production, which could slow the pace of uptake in the coming years. Yahoo Finance
• [New] If airports succeed in passing through increased taxes and surcharges (which seems likely given the announced fee hikes for 2026), the low-cost business model might be less sustainable. The National
• [New] The One Big Beautiful Bill Act will add 0.9% to U.S. GDP in 2026 largely because it allows companies to immediately deduct capital expenditures from their taxes-spurring a huge round of corporate spending. Fortune
• [New] For decades, global companies could lower their tax bills by shifting profits across borders, leveraging incentives and complex international structures. IFC Review
• [New] Millions of Americans in four states will benefit from tax relief payments before the end of 2025. Newsweek

Last updated: 22 December 2025