Lead Story
UN Shipping Levy Runs Aground
The United Nations hoped 2026 would mark the year it finally placed a climate-linked tax on the world’s cargo fleet. Not anymore. A wave of lobbying tied to former U.S. president Donald Trump has “halted U.N. shipping tax plans,” Maritime Fairtrade reports.
First, the formal frame: negotiators inside the International Maritime Organization were shaping a levy designed to curb emissions and bankroll green ports. Then came the gut punch: key delegates, emboldened by Trump-aligned U.S. lawmakers, pulled support. Without Washington, smaller flags followed. Talks stopped.
Why it matters: shipping moves 80% of global trade. No tax means no pooled fund for cleaner fuels,and no level field for carriers already paying regional carbon fees. One delegate told Maritime Fairtrade the collapse "hands a win to short-term politics over long-term climate gains."
Around the Tax World
• China ditches birth-control tax break. From 1 January, condoms and contraceptive pills face the standard 13 % VAT, ending a 30-year exemption, Reuters says. Beijing hopes pricier protection nudges couples toward babies, not barriers.
• Victoria’s 7.5 % Short Stay Levy sticks. Australia keeps its room-night charge to fund tourism infrastructure, while New Zealand extends its International Visitor Conservation and Tourism Levy, notes Travel and Tour World. Visitors will pay, nature will gain.
• Crypto clampdown lands. A global rule set forcing exchanges to share user data with tax offices “comes into force,” Financial Times reports. Platforms must now file who trades what, and governments finally get a trail. This move echoes other international efforts, such as those highlighted in Nigeria joins global data-sharing pact as tax shake-ups ripple across sectors.
• India lights a new cigarette duty. New taxes have already sent tobacco shares sliding, according to Reuters. Higher prices, lower lungs, investors bet both.
• Share swap, tax trap. Investors in the Sapphire Foods, Devyani merger will owe capital gains the moment new shares hit their Demat accounts, Moneycontrol explains. Paper gains still draw real tax.
By the Numbers
Prime Number: 13 %
That’s the VAT China now slaps on condoms. Birth control costs rise; Beijing hopes the birth rate follows.
Market Ripples
Shipping stocks that banked on a level global carbon fee may face uneven costs as the EU moves ahead alone. Consumer firms in China must recalculate margins on once-exempt goods. Crypto exchanges will spend 2026 building back-office pipes, not marketing campaigns.
Looking Ahead
All eyes are on the IMO’s next session. All eyes are on Washington. Without U.S. buy-in, the shipping levy stays sunk. For readers interested in understanding broader tax reforms and what they could mean domestically, consider exploring our Introduction To Nigerian Tax Laws.