Global Scans · Tax · Weekly Summary

• [New] The UK's more comprehensive tax laws for international players mean the Halle tournament, which had seven of the top 11 players this week, will hold an advantage over London for years to come. The Guardian
• [New] Under the proposed concessions, all of Australia's 2.7m small businesses will receive exemptions from capital gains tax, with startups and testamentary trusts exempted from the tax reform proposals. The Guardian
• [New] Indonesia plans to centralize palm oil exports, while Argentina has reduced wheat export taxes. Food Security Portal
• [New] Illinois will begin taxing capital gains from certain qualifying small-business stock sales by decoupling from a federal tax exemption, generating an estimated $50 million to $60 million, and will impose a 15% tax on fantasy sports contest revenues, projected to raise $5 million. ISACo
• [New] A new social media fee on large platforms is projected to generate $200 million annually, while a 0.2% tax on digital asset transactions and services is expected to raise $60 million. ISACo
• [New] The SFY 2027 Illinois budget package includes an estimated $815 million to $1.4 billion in new revenue, generated through a combination of tax increases, new fees, and one-time fund transfers. ISACo
• [New] China could face an extra $70bn a year in interest payments, while India could face an extra $49bn, equal to 2.4% of the media citizen's after-tax income every year. Heriot-Watt University
• [New] The combination of low BIK tax rates (4% in 2026-27), income tax and National Insurance savings, and included costs like insurance and maintenance means vehicles that appear expensive become affordable. / UK loveelectric
• [New] Others will leave UK residence entirely and re-base in a lower-tax jurisdiction such as the UAE. Ancova
• [New] The NYPA is soliciting requests for qualifications in building a 1 GW nuclear power plant with construction starting no later than 2032 to qualify for federal tax credits. National Conference of State Legislatures
• [New] A higher VAT threshold for sole traders, hospitality businesses are warning that current taxes are unsustainable, and small firms are pushing back against new Companies House reporting requirements. / UK CPA | The Credit Protection Association
• [New] A low-tax, near-zero-regulation environment that is the first to allow AI-owned companies will bring significant innovation and profits to Argentina. Latin America Risk Report
• [New] The 2026 Federal Budget could introduce some of the most discussed tax reforms Australia has seen in recent years. Chartered Accounting | Latitude Accountants
• [New] The Kast government's flagship Reconstruction and Development bill cuts the corporate tax rate from 27% to 23% by 2029. / Chile Briefs Finance
• [New] Europe is moving toward the implementation of TPD3 (Tobacco Products Directive 3), which is expected to introduce a harmonized e-liquid tax across all member states. Knowledge Sourcing Intelligence
• [New] Lawmakers are set to hear testimony from industry and tax experts as they consider what could become one of the most significant overhauls of crypto taxation in the United States. Yahoo Finance
• [New] Asset-related taxes are on track to reach about a tenth of total tax receipts by 2030. / UK Family Enterprise USA
• [New] The potential elimination of property taxes is only one of several risks that could affect credit quality for Florida issuers. Insurance Journal
• [New] In Japan, a new tax category will be created for heat-not-burn tobacco products and the taxation system will be revised in consideration of the product characteristics. PubMed Central (PMC)
• [New] High-net-worth buyers continue viewing Tennessee real estate as attractive investments combining lifestyle benefits, tax advantages, and appreciation potential. Coldwell Banker Southern Realty
• [New] Corporate tax systems should seek to reduce unnecessary complexity, support entrepreneurial risk-taking and limit competitive distortions, while remaining aligned with broader tax policy objectives. Etaf
• [New] Pharmaceutical manufacturers that choose not to comply with drug price negotiations will either face an excise tax of 65% to 95% of a product's sales or withdrawal of all products from both Medicare and Medicaid. PubMed Central (PMC)

Last updated: 22 June 2026