Global Scans · Tax · Weekly Summary

• [New] The potential elimination of EV tax credits in the United States could have a significant impact on Tesla's sales in the short term. investing.com
• [New] The potential removal of EV tax credits in the U.S. could level the playing field for competitors but may also benefit Tesla due to its high U.S. content in vehicle production and superior cost structure. investing.com
• [New] Greater U.S. tax cuts and deregulation could enhance U.S. growth prospects, potentially aiding consumer and business confidence and risk asset performance. Pacific Investment Management Company LLC
• [New] The prospect of higher taxes being introduced on imports to the US is concerning many world leaders because they will make it more expensive for companies to sell their goods in the world's biggest economy. BBC News
• [New] Although tariffs, tax cuts and deregulation could boost the US economy in the short term, they could ultimately backfire. BBC News
• [New] The potential loss of EV tax credits in the U.S. could level the playing field, making it harder for Tesla to maintain its premium pricing strategy. investing.com
• [New] The incoming Trump Administration will likely usher in a new wave of deregulation, make prior tax cuts permanent, and ease the state and local tax deduction cap. Piedmont Crescent Capital
• [New] The total amount in California's outstanding unemployment insurance loans is expected to grow in coming years, as the taxes paid by businesses fall significantly short of what is needed to cover the cost of the unemployment benefits their workers need. California Budget and Policy Center
• [New] State forecasts have repeatedly cited increased fuel efficiency as a key reason for declining gas tax revenue, and the most recent outlook projects annual revenue declines through 2033 for all but one year. The Pew Charitable Trusts
• [New] A new wave of SPAC IPOs gained momentum in late 2024 that is likely to continue into 2025, particularly as the incoming administration takes aim at accelerating business growth through deregulation and expected tax cuts impact capital gains and losses. National Law Review
• [New] A Trump administration would likely continue to support policies that reduce corporate taxes and foster business growth, which could make reshoring more appealing for companies looking to reinvest in the U.S. economy. Centurion Publishing
• [New] Plans for an extreme hike in property taxes in Spain will be a blow to buyers from the UK and could prompt them to consider alternatives such as Cyprus and Greece. The Independent
• [New] Given many countries outside of the UK and the European Union have no carbon reduction trading schemes or taxes in place, cost differentials could be significant. Kent Online
• [New] While the tax revenue can be used to enhance public infrastructure and promote tourism, excessive taxation risks alienating foreign investors and reducing competitiveness in global markets. Travel And Tour World
• [New] While uncertainty surrounds federal tax credits under the Trump administration, state incentives like rebates and tax breaks will keep EV adoption on track. AutoNation Mobile Service
• [New] The incoming Trump Administration is expected to create a more pro-business environment as reduced regulatory burdens and potential tax cuts could boost corporate profits and stimulate economic growth. Middlefield Group
• [New] Non-UK resident employees working for a UK employer both in the UK and internationally will soon benefit from a change to the way in which their UK employer must account for income tax under the PAYE system. TLT solicitors
• [New] If Canada merged with the US, there would be no Tariffs, taxes would go way down, and they would be TOTALLY SECURE from the threat of the Russian and Chinese Ships that are constantly surrounding them. CNN
• [New] President-elect Donald Trump is expected to prioritize tax cuts and deregulation and has threatened to rescind all unspent Inflation Reduction Act funds and lead a mass deportation of immigrants. Smart Cities Dive
• [New] The Trump administration is expected to pay for tax cuts by letting the Biden administration's enhanced Affordable Care Act subsidies expire at the end of 2025, which would further reduce the pool of covered patients for healthcare systems and providers. AlphaSense
• [New] Experts expect the Trump administration to cut Medicaid funding to help pay for an extension of the Trump tax cuts (set to expire at the end of 2025), as well as Trump campaign pledges to eliminate taxes on tips and overtime. AlphaSense
• The incoming administration is viewed as friendly towards businesses and if taxes are cut at a time when the Fed is easing rates, corporate conditions are expected to improve. Nikko AM Global Site

Last updated: 20 January 2025