Avocado Roundup is a quick morning review of top tax, legal, and climate news stories. It’s written by humans.
- India is considering hitting some imports with a carbon tax to offset the impact on the country’s exports by the EU’s so-called Carbon Border Adjustment Mechanism, expected to take effect in 2026. The CBAM, which targets carbon-intensive imports such as cement and electricity, will likely be imitated by the UK and other developed countries, this report says. (Times of India)
- Canada has two carbon taxes, one on gasoline and one on heating oil, that aim to lower the country’s greenhouse gas emissions, but the levies also contribute to inflation for food items and energy, a taxpayers advocacy group said. (CityNews)
- France plans to raise taxes on airline tickets to help fund investments to improve its train network, the country’s transport minister, Clément Beaune, said. (SchengenVisa Info)
- The German government’s draft legislation that would legalize marijuana includes a proposal to tax wages of people working in marijuana social clubs, according to a report. (Marijuana Moment)
- Ireland’s tax authority Wednesday published ebrief No. 180/23, which updates its guide on its self-assessment system for income tax and capital gains tax to reflect online payment options. The self-assessment system applies to self-employed taxpayers and those receiving income from sources where some or all of the tax cannot be collected under the country’s pay as you earn (PAYE) system, as well as profit earned from exercising various share options or share incentives. (Revenue.ie)
- A South Carolina man faces up to 20 years in federal prison plus monetary and other penalties after pleading guilty to wire fraud and tax fraud. (Justice.gov)
- A federal appeals court upheld a former Georgia insurance commissioner’s conviction on tax fraud and other charges but ruled he won’t have to pay restitution of $358,000 in back taxes until after he gets out of jail. (Insurance Journal)
- Holland & Knight grabbed corporate tax and government ethics adviser Robert Rizzi as partner in Washington in its tax, executive compensation and benefits practice. Rizzi arrives from Steptoe & Johnson LLP. He earlier spent 19 years at O’Melveny & Myers and a year at the US Central Intelligence Agency. (HKLaw.com)
