Global Scans · Tax · Weekly Summary

• [New] Under devolution plans announced last week, by early 2028 regional mayors across England will be able to keep a share of income tax generated in their area. The Guardian
• [New] Indian conglomerate Adani will pay no company tax despite generating almost $1bn in revenue from coal mining in Queensland over the past year. The Guardian
• [New] Southeast Asia will continue using tax holidays to attract battery manufacturing, not just vehicle assembly. Tianjin Yigang Automobile Sales Co.,Ltd.
• [New] A shipment to Chile might include the fleet tax credit, a manufacturer rebate, and a carbon credit sale. Tianjin Yigang Automobile Sales Co.,Ltd.
• [New] Saudi Arabia, under Vision 2030, exempts EVs from import duties and offers a 10-year tax holiday for EV manufacturing investments. Tianjin Yigang Automobile Sales Co.,Ltd.
• [New] Brazil's Rota 2030 program has evolved, offering IPI (Industrialized Product Tax) reductions for EVs. Tianjin Yigang Automobile Sales Co.,Ltd.
• [New] President Donald Trump is expected to impose fresh import taxes, as 10% global levies from February are expiring. Morningstar, Inc.
• [New] The Section 232 tariffs will increase US federal tax revenue by $942 billion from 2026 through 2035. Tax Foundation
• [New] In 2026, output is projected to decline 1.4% to 32.5 million units as new energy vehicle (NEV) tax cut incentives are reduced and some PHEVs lose eligibility. / China Mobility Global
• [New] Missouri Amendment 5 would remove a constitutional cap on the sales tax base that voters approved in 2016, allowing legislators to reduce personal income taxes in 2027's session. MultiState
• [New] Additional tax revenue generated by the semiconductor boom will be directed toward younger generations, future growth industries, regional development and talent cultivation through a newly established Future Response Fund. Aju Press
• [New] Oman will begin implementing an income tax in 2028. Middle East Institute
• The U.S. Corporate Climate Responsibility Act mandates companies with annual revenue $1 billion to reach 40% renewable electricity consumption by 2030; non-compliant enterprises lose all federal tax incentives. Solar Panel Production Equipment and Machinery-Lithium
• Debt will rise to 300% of GDP by the 2070s if there is not fiscal tightening of 3.8% of GDP by 2031-32 - that's the size of onshore corporation tax or total expenditure on education by 2030-31. City AM
• The United States will impose taxes of 10% to 12.5% on imports from 60 countries, charging that they have inadequately enforced bans on goods produced by forced labour. Spectrum News
• For tax year 2026, Americans who take the standard deduction will be eligible for an above-the-line charitable deduction for the first time. Empower
• The UAE's corporate tax has fundamentally changed the way businesses plan their finances. Comfi.ai
• The Bipartisan BUILD America 250 Act proposed a similar annual tax of $130 for EVs and $35 for plug-in hybrids that would increase by $5 every other year starting in 2029. American Enterprise Institute - AEI
• A 50% tax on imports will force rapid supply-chain realignment and weaken the Canadian economy far faster than the Federal Reserve's policies will impact the U.S. dollar. Trading Strategy Guides
• A land-value tax has emerged as a possible longer-term reform, but analysts warned that it cannot provide a rapid solution to the UK's fiscal pressures. Stock Market Update
• Social Security's main trust fund could be depleted by early 2033, leaving incoming payroll taxes sufficient to cover only about 86% of scheduled benefits. Knowledge at Wharton

Last updated: 03 August 2026