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03 August 2026

Americas Tax Roundup | 3 August 2026

 
 

A summary of the top weekly tax developments in the Americas

 
 
      
 

     This week's tax news from the Americas

  • Canadian Department of Finance releases draft legislative proposals for Budget 2025 and other previously announced measures
    On 23 July 2026, Canada’s Department of Finance released draft legislative proposals for public comment. The draft legislative proposals implement certain measures announced in the 2025 federal budget (Budget 2025) and 2026 spring economic update, as well as other previously announced measures and new technical amendments. The draft legislative proposals include measures that would (i) reinstate accelerated capital cost allowance rates for eligible low-carbon liquefied natural gas equipment and related buildings acquired on or after 4 November 2025 and before 2035, (ii) expand the carbon capture, utilization and storage investment tax credit to include enhanced oil recovery generally effective as of 28 April 2026, (iii) implement the second package of hybrid mismatch arrangement rules generally for payments arising on or after 1 July 2026; (iv) update foreign affiliate insurance rules applicable to tax years of a taxpayer’s foreign affiliate beginning after 4 November 2025, and (v) simplify transfer pricing documentation requirements for tax years and fiscal periods beginning after 2025. The measures also include various income tax technical amendments, proposed changes to the Global Minimum Tax Act and indirect tax legislative proposals.
  
 
 

    This week's newsletters

  • Trade Lines - 24 July 2026
    Our trade newsletter for global business leaders delivers timely insights into the issues shaping global commerce—from tariff shifts and supply chain disruptions to legislative developments and compliance trends.
  
 
 

    Upcoming EY webcasts

A calendar of all upcoming EY webcasts is available.

  
 
 

    Recent EY podcasts

All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts.

  
 
 

   This week's EY Global Tax Alerts

     Africa

     Europe

  
 
 
 

Additional resources

EY Global Tax News Update
EY's Global Tax Alerts and other content can be delivered directly to your inbox. Register for EY's Global Tax News Update.

EY Guides available for download
Browse our in-depth guides covering corporate tax, indirect tax, personal taxes, TP and other tax matters in more than 150 countries.

Comments. If you have any questions or suggestions about this newsletter, please email Tax News Update Help at: ustaxalertshelp@ey.com.

 
 
 
 

About Americas Tax Roundup

Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Mannetta, writer and editor

Distributed weekly to all Americas Tax personnel.

 
 

Document ID: 2026-1654

 
 

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