Shipping’s Carbon Tax Hits the Brakes
The Big Picture: The International Maritime Organization (IMO) has punted a decision on its much-anticipated Net-Zero Framework,complete with a global shipping carbon tax,until 2026, injecting fresh uncertainty into the sector’s green transition.
The Details: After days of tense talks in London, delegates failed to secure the two-thirds support needed, opting instead to reopen negotiations next year, Reccessary reports. The framework would have slapped a levy on high-emission vessels by 2027, with rebates for cleaner ships. A majority of countries,including China, Brazil, and the EU,backed the plan, but the United States’ threat of trade retaliation proved a hefty anchor. A separate dispatch noted that “US helps sink global shipping carbon tax,” according to Shipping Telegraph.
Analysts warn that companies banking on a 2027 rollout must now re-model costs. For additional insights into the evolving tax landscape, learn more about Introduction To Nigerian Tax Laws. Environmental advocates blasted the deferral, while one EU delegate called it “a missed voyage for climate action,” Reccessary notes.
Around the Tax World
• Nigeria’s Stransact earns Tier-1 stripes. World Tax has elevated Lagos-based Stransact to Tier-1 status for corporate, transactional, and transfer-pricing work, joining the likes of Deloitte and PwC (Guardian Nigeria). For context on the domestic tax reforms driving these changes, explore our insights on Nigerian Tax Laws 2025.
• Aviation leader wants sweeping African tax reform. IATA Vice-Chair Yvonne Makolo urged governments to streamline taxes to spur jobs and stem youth migration (Morocco World News). Discover similar trends in our review of Nigeria’s New Tax Playbook.
• EU-Indonesia trade pact axes nearly all tariffs. The newly concluded CEPA promises 98% tariff elimination and deeper customs cooperation, a potential boon for exporters on both sides (Alvarez & Marsal).
• US overtime tax break still stuck in bureaucracy. Months after enactment, firefighters and rail workers remain ineligible as the IRS wrestles with shut-downs and staffing gaps (Bloomberg Law).
Prime Number
64,000 , the number of professionals Stransact can now tap through its affiliation with RSM International, spanning 120 countries (Guardian Nigeria).
Looking Ahead
All eyes now turn to the IMO’s next Marine Environment Protection Committee session in early 2026, where negotiators will try,again,to chart a carbon-pricing course for the world’s fleet.
Prepared by MyTax - mytax.com.ng