Asia Pacific
KPMG TaxNewsFlash reports of tax developments in the Asia Pacific region
News
Saudi Arabia: Real estate transaction tax law, implementing regulations effective April 9, 2025
Both the real estate transaction tax law and its implementing regulations are effective as of April 9, 2025.
April 17, 2025
News
Taiwan: Guidance on pre-approval of net profit and domestic profit contribution ratios to calculate withholding tax
This process aims to streamline tax refunds and reduce capital issues from excess withholding.
April 17, 2025
News
Armenia: Increased gambling tax rates
Effective April 1, 2025, tax rates are doubled on online casinos and bookmakers
April 16, 2025
News
Kazakhstan: Extension of VAT payment by offset method on imported goods
Application of method extended until January 1, 2026.
April 16, 2025
News
Kazakhstan: New transfer pricing notification form for participation in MNE group
Effective March 10, 2025
April 16, 2025
News
Turkey: Guide on tax treatment of donations
For individual and corporate income tax and VAT purposes
April 16, 2025
News
Turkey: Special consumption tax rates on certain tobacco products
Rates effective as of March 15, 2025
April 16, 2025
News
Vietnam: Amendments to regulations on electronic invoices
Decree 70/2025/ND-CP is effective June 1, 2025.
April 15, 2025
News
India: “Land or building” includes leasehold rights; shares held as stock-in-trade versus capital assets; tax rate for private discretionary trusts (court decisions)
Summaries of recent court decisions
April 14, 2025
News
Malaysia: Tax developments summary (April 2025)
Income, indirect, individual, and audit tax developments
April 14, 2025
News
Vietnam: Amended preferential import tax rates
Decree 73/2025/ND-CP modifies the tax rates concerning export tariff, preferential import tariff, and goods subject to various tax rates
April 14, 2025
News
New Zealand: New tax governance guidance
The new guidance expands on Inland Revenue’s expectations for the “building blocks” of a tax control framework.
April 9, 2025
News
Australia: R&D tax incentive registration deadline is April 30
ATO reminder for companies intending to claim the R&D tax offset
April 8, 2025
News
Australia: Further entity disclosures required under “Consolidated Entity Disclosure Statements”
New tax transparency measures enacted in 2024
April 8, 2025
News
Kazakhstan: Expanded list of vehicles and agricultural machinery components exempt from VAT
Amendments scheduled to come into effect on April 11, 2025
April 8, 2025
News
Bahrain: Action plan approved for 2025-2026 budget, corporate tax to be introduced
The eight-point action plan includes the introduction of a corporate income tax.
April 7, 2025
News
Australia: Changes to ATO top 500 program
Changes effective April 1, 2025
April 4, 2025
News
Hong Kong: Guide to 2024-2025 profits tax filing
Due dates for filing profits tax returns
April 3, 2025
News
Australia: “Rollover” relief applied to “top hatting” reorganization (Full Federal Court decision)
Court provides guidance regarding application of reorganization rules
April 2, 2025
News
Sri Lanka: Guidance on advance income tax procedures
Inland Revenue issued new circulars on advance income tax for interest income.
April 2, 2025
News
Australia: Guidance on debt deduction creation rules
The debt deduction creation rules will apply to assessments for income years starting on or after July 1, 2024.
April 1, 2025
News
Australia: Proposed additional “affordable dwelling” requirements under build to rent scheme
Proposed additional requirements for a dwelling to be an “affordable dwelling” for purposes of tax concession eligibility under the build to rent (BTR) scheme.
April 1, 2025
News
New Zealand: Consultation on reform of fringe benefit tax rules
Comments are due by May 5, 2025.
April 1, 2025
News
Qatar: Introduction of Pillar Two global minimum tax rules
Introduces an income inclusion rule (IIR) and a domestic minimum top-up tax (DMTT) for fiscal years starting from January 1, 2025
April 1, 2025
Delivery to your inbox
Subscribe to KPMG TaxNewsFlash
Latest tax developments from the United States and from KPMG member firms around the globe
News
Japan: 2025 tax reform bills, including Pillar Two rules, passed by Parliament
Measures include introduction of undertaxed profits rule (UTPR) and qualified domestic minimum top-up tax (QDMTT)
March 31, 2025
News
Australia: Legislation amending luxury car tax, denying deductions for interest charges on tax debts, and reducing individual income tax rates receives Royal Assent
Legislation received Royal Assent on March 27, 2025
March 27, 2025
News
Australia: Hydrogen, critical minerals production tax incentives to commence April 1, 2025
Incentives under Future Made in Australia (Production Tax Credits and Other Measures) Act 2025 will commence on April1, 2025.
March 26, 2025
News
India: Revisions to direct tax amendments proposed by Union Budget 2025
Amendments proposed under Union Budget 2025 have been revised.
March 26, 2025
News
Saudi Arabia: E-invoicing mandatory for taxpayers with revenue above SAR 1 million
22nd group of taxpayers required to comply with the second phase of the e-invoicing system implementation
March 26, 2025
News
Australia: 2025 federal budget
The KPMG member firm in Australia has summarized and analyzed the budget announcements and its implications for various sectors and businesses.
March 25, 2025
News
Sri Lanka: Legislation introducing various income tax changes enacted
The KPMG member firm in Australia has summarized and analyzed the budget announcements and its implications for various sectors and businesses.
March 25, 2025
News
UAE: Guidance on recent amendment to VAT regulation
Public Clarification No. 40 provides guidance on amendment to VAT regulation effective November 15, 2024
March 21, 2025
News
Australia: Impact statement on recent Full Federal Court Division 7A decision
ATO will not revise its views until appeal process finalized
March 20, 2025
News
India: Rights entitlements not company shares for purposes of Ireland treaty (Tribunal decision)
Gains from transfer of rights entitlements thus not taxable in India under treaty
March 20, 2025
News
Thailand: Carbon tax on oil approved by Cabinet
Carbon pricing mechanism in excise tax rates imposed on oil and oil products
March 19, 2025
News
Thailand: Reduced corporate tax rate for special economic zones approved by Cabinet
Reduction in corporate tax rate to 10% for businesses in special economic zones
March 19, 2025
News
UAE: Accreditation process for e-invoicing
Process may take up to 90 working days
March 19, 2025
News
Bahrain: Updated domestic minimum top-up tax (DMTT) registration manual
Version 1.0 released on March 9, 2025
March 17, 2025
News
India: Clarification to guidance that grandfathering provisions in tax treaties are excluded from principal purpose test
Guidance does not affect application of other treaty provisions or anti-abuse rules
March 17, 2025
News
Turkey: Announcement that Amount B under Pillar One will not be applied
Official announcement on March 7, 2025
March 17, 2025
News
Turkey: Suspended inflation adjustments for first three advance tax periods in FY2025
Suspension under General Communiqué No. 582
March 17, 2025
News
Turkey: Updated guides on taxation of business income
Details on exemptions, computations, and compliance requirements
March 17, 2025
News
Australia: Proposed amendments to income tax law following ATO’s alert on managed investment trust (MIT) structures
The announcement follows the ATO’s taxpayer alert, which was released on March 7, 2025.
March 14, 2025
News
Kazakhstan: Proposed increase in standard VAT rate
Effective January 1, 2026
March 13, 2025
News
Kazakhstan: Changes to rules for monitoring cross-border transactions; additional deductions for R&D expenses
Changes to rules for monitoring cross-border transactions are effective January 27, 2025
March 13, 2025
News
Malaysia: Tax developments summary (March 2025)
Monthly report covering income tax, indirect tax, and e-invoicing developments
March 13, 2025
News
Mongolia: MLI effective January 1, 2025; other direct and indirect tax developments
Including tax incentives for corporate socially responsible investments
March 13, 2025
News
China: Guidance on certificate of tax residency
Various updates effective April 1, 2025
March 12, 2025
News
India: Relaxation of conditions to carry forward losses not allowed (High Court decision)
Taxpayer sought additional time to meet production level requirements, but failed to do so even within extended period.
March 12, 2025
News
Australia: Arrangements that “inappropriately access” managed investment trust (MIT) withholding regime
Taxpayer alert addresses concerns over arrangements to restructure an existing trust to inappropriately access the MIT withholding regime
March 11, 2025
News
Australia: Car park exempt from fringe benefits tax due to operational purpose and fee structure (Federal Court decision)
The decision challenges the ATO's interpretation of what constitutes a commercial parking station.
March 7, 2025
News
KPMG report: Shipping and offshore tax update (March 2025)
Global tax-related developments relevant for companies involved in shipping and related industries
March 7, 2025
News
Philippines: Expansion of e-invoicing resumed
Previously limited to large taxpayers
March 7, 2025
News
Cambodia: Updated guidance on income tax, various indirect taxes
Updated guidance on income tax effective January 1, 2025
March 6, 2025
News
Japan: Additional 2025 tax reform proposals concern basic deduction
Revised bills including special measures for the incremental amount of the basic deduction are now under deliberation in the House of Councillors.
March 6, 2025
News
Thailand: Revised input tax allocation for registered operators
Guidance on apportioning common input tax for businesses engaged in both VAT-liable and non-VAT-liable activities
March 6, 2025
News
Australia: Non-compliant small businesses to shift to monthly GST reporting
From April 1, 2025, non-compliant small businesses will move from quarterly to monthly GST reporting
March 5, 2025
News
Australia: Termination of taxpayer’s gaming licenses did not create financial arrangement subject to TOFA rules (Federal Court decision)
Court also provided useful commentary on TOFA balance adjustment rules
March 5, 2025
News
Indonesia: Implementation of global minimum tax
Enforcement of global anti-base erosion (GloBE) rules from January 1, 2025
March 5, 2025
News
India: Payments for bareboat chartering of dredger not taxable as royalties under Belgium treaty (Tribunal decision)
Based on definition of royalties under treaty
March 5, 2025
News
Turkey: Increased VAT refund limit for 2025
Effective January 1, 2025
March 5, 2025
News
Turkey: Increased withholding tax rates on income from certain financial instruments
Effective February 1, 2025
March 5, 2025
News
Australia: Tax authority statement regarding Federal Court decision that taxpayer entitled to interest deductions with respect to foreign related-party financing
Statement summarizes tax authority’s views on the decision
March 4, 2025
News
UAE: FAQs on Pillar Two domestic minimum top-up tax
Ministry of Finance published a list of “frequently asked questions”
March 4, 2025
News
Australia: Proposed two-year freeze on draught beer excise indexation
The federal government will freeze the indexation on draught beer excise for two years.
March 3, 2025
News
Azerbaijan: Reduction in branch profit tax rate; VAT exemption for transfers of land use rights; tax incentives for green projects
Recent tax developments in Azerbaijan
March 3, 2025
News
Bahrain: Updated VAT manuals
The National Bureau of Revenue published updated VAT manuals.
March 3, 2025
News
India: Two-year limitation period for nonresidents to submit refund claims not authorized under statute (High Court decision)
Two-year limitation period under Circular No. 7/2007 held inconsistent with statute
March 3, 2025
News
New Zealand: Amendments to omnibus August tax bill
Bill now awaits enactment, which will need to be by March 31, 2025
March 3, 2025
News
Saudi Arabia: E-invoicing requirement extended to 21st group of taxpayers from November 30, 2025
Criteria for selecting targeted taxpayers in 21st wave for implementing “integration phase” of e-invoicing announced
March 3, 2025
News
Australia: Consultation on draft legislation on 2025 tax return filing requirements
Including income tax returns, franking returns, venture capital deficit tax returns, and ancillary fund returns
February 28, 2025
News
Australia: Ruling on taxation of bonuses paid to employees as part of sale transaction
Bonuses not immediately deductible but instead deductible over five years
February 28, 2025
News
Australia: Guide correcting “common myths” about Division 7A
ATO released a guide that "debunks common myths" about Division 7A
February 27, 2025
News
Israel: Consultation on draft guidance regarding local R&D centers and IP valuations
Draft guidance on arrangements for which the tax authority may provide certainty
February 27, 2025
News
Hong Kong: Tax proposals in 2025-2026 budget
Proposals related to profits tax, salaries tax, property tax, stamp duty, and hotel accommodation tax
February 27, 2025
News
New Zealand: Consultation on taxation of charitable and not-for-profit organizations
Wide-ranging policy issues being considered
February 27, 2025
News
India: Activities of Indian subsidiary did not create PE for Finish parent under Finland treaty (High Court decision)
Subsidiary was pursuing independent line of business and had no authority to bind parent
February 26, 2025
News
Saudi Arabia: Public consultation on draft regulations for real estate transaction tax
Comments are due March 15, 2025
February 26, 2025
News
Australia: Guides on claiming critical mineral, hydrogen production tax incentives
Details on eligibility criteria and how and when to claim tax offsets.
February 25, 2025
News
Australia: Proposed increase in tax incentives for alcohol manufacturers
Changes would apply from July 1, 2026.
February 25, 2025
News
Malaysia: New deadlines for e-invoicing compliance
The deadline is either July 1, 2025, or January 1, 2026, depending on annual turnover or revenue.
February 25, 2025
News
Sri Lanka: Proposed legislation includes VAT and income tax changes
Includes 18% VAT on nonresident digital service providers
February 25, 2025
News
Taiwan: Updated list of low-tax jurisdictions
Effective December 27, 2024
February 25, 2025
News
Australia: Unpaid present entitlement to income or capital of trust estate not a loan (Full Federal Court decision)
Decision may guide interpretation of similar arrangements in other contexts
February 21, 2025
News
Singapore: Tax measures in budget 2025
Includes extension and enhancement of various tax incentive schemes
February 20, 2025
News
Sri Lanka: Tax measures in 2025 budget
Includes direct and indirect tax measures
February 20, 2025
News
Australia: Commercial broadcasting tax suspended for one year
CBT suspended from June 9, 2025, to June 8, 2026
February 20, 2025
News
Israel: Draft regulations on withholding tax for digital asset transactions
Regulations proposed to become effective July 1, 2025
February 20, 2025
News
Israel: Updated regulations on submission process for employee equity incentive plans
Online reporting required for all equity plans starting in 2025
February 20, 2025
News
Taiwan: Increased tax deductions for salary expenses of SMEs
Effective for tax year 2024
February 20, 2025
News
Vietnam: MCAA for exchange of CbC reports signed; amendments to transfer pricing regulations
Report on recent transfer pricing developments in Vietnam
February 20, 2025
News
Uzbekistan: Tax exemptions for publishing and printing businesses, private education facilities
Exemptions effective January 1, 2025
February 20, 2025
News
India: Reimbursements of seconded employees’ salaries not taxable in India under U.S. treaty (High Court decision)
Seconded employees were employees of Indian company
February 19, 2025
News
Saudi Arabia: Extended deadline to apply new Zakat regulations
New deadline is April 30, 2025
February 18, 2025
News
Pakistan: New rules for licensing, integration, and issuance of e-invoices
Notification No. S.R.O. 69(1)/2025 replaces Chapter XIV of the Sales Tax Rules, 2006
February 18, 2025
News
Australia: Updated form and instructions for thin capitalization test choice
Updated guidance regarding revocation requests
February 14, 2025
News
Malaysia: Introduction of self-assessment regime for stamp duty, new stamp duty audit framework
New self-assessment regime effective January 1, 2026
February 14, 2025
News
Philippines: Pre-border technical verification and cross-border electronic invoicing system
Digital and integrated systems required for all imported commodities within two years of the order's issuance
February 14, 2025
News
UAE: Amendments to excise taxation of electronic smoking implements; guidance on correcting VAT return errors
Changes effective January 2025
February 14, 2025
News
Taiwan: Increased business tax thresholds from January 2025
Businesses that do not exceed the thresholds are generally exempt from business tax.
February 14, 2025
News
Vietnam: Extension of reduced environmental protection taxes on fossil fuels through 2025
Reduced rates for gasoline, oil, and other fossil fuels
February 13, 2025
News
India: Proposed legislation to replace Income-tax Act, 1961
Seeks to simplify the existing tax legislation
February 13, 2025
News
Malaysia: Tax developments summary (February 2025)
Income tax, stamp duty, indirect tax, and e-invoicing developments
February 12, 2025
News
UAE: Legislation implementing Pillar Two global minimum tax rules
Effective for financial years beginning on or after January 1, 2025
February 12, 2025
News
Australia: Hydrogen, critical minerals production tax incentives bill passes Parliament
Legislation passed with Senate amendments
February 11, 2025
News
Australia: Instructions for reportable tax position schedule for 2025
Various updates in response to new rules and legislative changes
February 11, 2025
News
India: Limitations on deductibility of head office expenses inapplicable under UAE treaty (Tribunal decision)
Limitations did not apply because not specifically referenced in treaty
February 11, 2025
News
Philippines: Guidance on excise tax exemption for electric vehicles, tax treatment of securitization transactions
Guidance under Revenue Regulations No. 1- 2025 and No. 2-2025
February 10, 2025
News
Kazakhstan: Amendments to VAT refund rules
Amendments effective on February 11, 2025
February 10, 2025
News
UAE: Public consultation on e-invoicing data dictionary
Comments are due February 27, 2025
February 7, 2025
News
Armenia: Tax incentives for high-tech sector
Including income tax, profit tax, and turnover tax incentives
February 6, 2025
News
Saudi Arabia: Application of withholding tax under income tax treaties
Guidance on the application of withholding tax under income tax treaties
February 6, 2025
News
Oman: Income tax treaties signed with Cyprus, Tanzania, and Bahrain
Official texts yet to be published
February 5, 2025
News
Saudi Arabia: Guidance on application of real estate transaction tax to “build-own-operate-transfer” contracts
Guidance relating to transactions that may be exempt from real estate transaction tax
February 4, 2025
News
UAE: Updated guidance on participation exemption and foreign permanent establishment exemption
Guidance applies for tax periods beginning on or after January 1, 2025
February 4, 2025
News
Australia: Senate Committee report on hydrogen, critical minerals production tax incentives bill
The Committee recommends that bill be passed.
February 3, 2025
News
India: Tax measures in budget 2025-2026
Measures related to direct and indirect tax, transfer pricing, and customs duties
February 3, 2025
News
Kazakhstan: Changes to transfer pricing laws included expanded reporting and disclosure requirements
Changes became effective January 10, 2025
February 3, 2025
KPMG Asia Pacific Tax & Legal Centre
Gain access to tax and legal professionals and a virtual network of specialists across KPMG's services in the Asia Pacific
News
Australia: Senate Committee report on bill to amend fuel-efficient vehicle definition under luxury car tax, deny deductions for interest charges on tax debts
The Committee recommends that bill be passed.
January 31, 2025
News
Indonesia: Implementation of new core tax administration system
New system effective January 1, 2025
January 31, 2025
News
Kazakhstan: Pilot project for registering public procurement contracts in electronic VAT invoice system
Available through December 31, 2025
January 30, 2025
News
Kazakhstan: List of large taxpayers subject to monitoring
356 large taxpayers subject to monitoring for two years
January 30, 2025
News
Japan: Updated guidance on income inclusion rule
Income inclusion rule was amended in 2024 tax reform
January 29, 2025
News
India: Capital losses not reduced by grandfathered exempt capital gains under Mauritius treaty (Tribunal decision)
Capital losses not reduced by capital gains realized before April 1, 2017, and exempt under grandfathering provisions of India-Mauritius income tax treaty
January 28, 2025
News
Bahrain: Updated domestic minimum top-up tax registration manual
Updated version of domestic minimum top-up tax registration manual released
January 27, 2025
News
Korea: Transfer of shares subject to capital gains tax at arm’s length fair market value (Tax Tribunal decision)
Tax Tribunal decision
January 27, 2025
News
India: Grandfathering provision under tax treaty is excluded from principal purpose test
Guidance clarifies the application of the principal purpose test (PPT) in Indian tax treaties with grandfathering provisions
January 23, 2025
News
Philippines: Application of VAT on digital services
Digital services will be taxed at a 12% rate when used or consumed in the Philippines.
January 23, 2025
News
Australia: Consultation on miscellaneous amendments to tax laws, including GST and excise taxes
Consultation closes January 31, 2025
January 22, 2025
News
Australia: Legislation providing details on computation of top-up tax under Pillar Two rules
Rules are effective from January 1, 2024.
January 22, 2025
News
Australia: New transfer pricing guidance on inbound related-party funding for property and construction
Guidance highlights concerns and factors that attract tax authority’s attention
January 22, 2025
News
Malaysia: Transfer pricing guidelines and audit framework for 2024
Guidelines are effective from year of assessment 2023, and framework is effective from December 24, 2024.
January 22, 2025
News
Bahrain: Guide on entities within scope of domestic minimum top-up tax
Further clarification on various aspects including entities that fall within scope of domestic minimum top-up tax
January 21, 2025
News
India: Amendments to foreign exchange management regulations
Amendments relating to foreign currency deposits and accounts
January 21, 2025
News
Thailand: 2025 tax calendar
Tracks filing and payment requirements for various taxes
January 21, 2025
News
Thailand: Law implementing Pillar Two global minimum tax rules published
Rules became effective January 1, 2025
January 21, 2025
News
KPMG report: Global developments in ESG-related taxes, incentives, and grants (ESG tax tracker, updated January 2025)
Details existing legislation and contains information regarding upcoming regulations
January 21, 2025
News
Indonesia: Guidance on treatment of VAT
Guidance effective January 1, 2025
January 17, 2025
News
UAE: VAT exemption does not apply to cryptocurrency mining
Public clarification that VAT exemption extended to activities involving virtual assets does not apply to cryptocurrency mining
January 16, 2025
News
UAE: Guidance on tax groups, including transfer pricing rules applicable to groups
New guidance effective January 1, 2025
January 15, 2025
News
Malaysia: Tax developments summary (January 2025)
Monthly report covering income tax, stamp duty, real property gains tax, indirect tax, and individual tax developments
January 14, 2025
News
Saudi Arabia: Penalty waiver for taxes, including VAT and excise tax, extended through June 2025
Amnesty initiative that waives fines and penalties relating to corporate income tax, withholding tax, VAT, excise tax, and real estate transaction tax
January 14, 2025
News
China: Report on advance pricing agreement (APA) program
Total of 296 APAs signed from 2025 to 2023, with 36 signed in 2023
January 13, 2025
News
India: Capital reduction through share cancellation resulted in transfer of capital asset (Supreme Court decision)
Transfer potentially created capital gain or loss in hands of shareholders
January 13, 2025
News
India: No requirement to withhold tax on sales of goods to banks
Notification excludes certain banks purchasing goods from requirement for sellers to withhold tax from buyer on certain sales of goods
January 9, 2025
News
Korea: Direct and indirect tax incentives to promote foreign investment announced
Include extension of tax relief period for importation of capital goods for foreign investments by one year
January 8, 2025
News
India: Report on advance pricing agreement (APA) program
Total of 125 APAs signed in FY 2023-2024
January 8, 2025
News
Oman: Legislation implementing Pillar Two global minimum tax rules
New legislation introduces domestic minimum top-up tax (DMTT) for multinational groups
January 8, 2025
News
Kuwait: Legislation implementing Pillar Two global minimum tax rules
New legislation introduces domestic minimum top-up tax (DMTT) for multinational groups
January 8, 2025
News
Sri Lanka: New advance pricing agreement (APA) guide
Guide allows for unilateral, bilateral, and multilateral APAs
January 8, 2025
News
KPMG report: Shipping and offshore tax update (January 2025)
Global tax-related developments relevant for companies involved in shipping and related industries
January 8, 2025
News
China: Updated tax policies on residential properties, tax refund for property reinvestment
Sales of residential property held for at least two years in Beijing, Shanghai, Guangzhou, and Shenzhen will be exempt from VAT
January 7, 2025
News
India: GST rule imposing restrictions on exporters’ rights to claim refunds held invalid (High Court decision)
Rule held invalid since its inception
January 7, 2025
News
India: Relief for certain filing delays by taxpayers claiming concessional corporate income tax rate
Relief for delays in filing Form 10-IC or 10-ID
January 7, 2025
News
Bahrain: Updated VAT manuals
The National Bureau of Revenue published updated VAT manuals.
January 6, 2025
News
China: Updated list of industries in western regions eligible for reduced enterprise income tax
Updated list effective January 1, 2025
January 6, 2025
News
Kazakhstan: Pilot project for automated VAT balance calculations
Project will provide taxpayers with expected VAT liabilities based on electronic invoicing information.
January 6, 2025
News
Saudi Arabia: E-invoicing requirement extended to 19th group of taxpayers from September 30, 2025
ZATCA announced the criteria for the 19th group of taxpayers required to comply with the second phase of the e-invoicing system implementation.
January 6, 2025
News
Sri Lanka: Procedure for withholding tax on payments to nonresidents
Notification specifying procedures published in the official gazette
January 6, 2025
News
Oman ratifies tax treaties with Luxembourg and Estonia
Treaties not yet in force
January 2, 2025
News
Vietnam: Reduced VAT rate on certain goods and services
Reduction is effective from January 1, 2025, until June 30, 2025.
January 2, 2025
News
China: VAT law enacted
Law becomes effective January 1, 2026
December 30, 2024
News
Pakistan: Income Tax Amendment Ordinance, 2024 increases tax rate for banking sector
Ordinance was approved by the President and is effectively immediately
December 30, 2024
News
Turkey: Amended electronic invoice and document requirements for various sectors
Amendments include changes to transaction thresholds and mandatory compliance dates
December 30, 2024
News
Turkey: Clarified withholding tax requirements for payments from electronic commerce intermediaries to service providers
Requirements were amended by Law No. 7524
December 30, 2024
News
Turkey: Reduced exemption rate for corporations for gains derived from sales of certain assets
Exemption rate reduced from 75% to 50%
December 30, 2024
News
Turkey: Updated guide on mutual agreement procedures under income tax treaties
Guide was published on December 4, 2024
December 30, 2024
News
Hong Kong: Draft legislation implementing Pillar Two global minimum tax rules
Draft legislation will be presented to the Legislative Council on January 8, 2025.
December 27, 2024
News
Japan: Outline of 2025 tax reform proposals, including new Pillar Two rules
Proposals include introduction of undertaxed profits rule (UTPR) and qualified domestic minimum top-up tax (QDMTT)
December 27, 2024
News
Hong Kong: Draft legislation implementing company re-domiciliation regime
Draft legislation will be presented to the Legislative Council on January 8, 2025.
December 26, 2024
News
Oman ratifies income tax treaty with Ireland
Treaty is not yet in force
December 26, 2024
News
Uzbekistan: Proposed tax measures in 2025-2027 budget
Proposed tax measures include repeal of certain VAT benefits
December 26, 2024
News
Uzbekistan: Tax incentives for businesses that maintain high sustainability rating
Incentives became effective on November 16, 2024.
December 26, 2024
News
Taiwan: Guidance on income tax withholding, non-withholding tax statements, tax calculation for foreign enterprises
Guidance from the Ministry of Finance
December 23, 2024
News
Argentina-China income tax treaty entered into force
Income tax treaty entered into force on November 26, 2024
December 20, 2024
News
Cambodia: New transfer pricing regulations
New regulations include rules relating to required transfer pricing documentation
December 20, 2024
News
Pakistan: Proposed changes to income, sales, and excise tax legislation
Changes are aimed at incentivizing businesses to properly register for tax purposes.
December 20, 2024
News
Australia: Tax measures announced in 2024-2025 Mid-year Economic and Fiscal Outlook
No major tax reforms announced, but some tax proposals included
December 19, 2024
News
Sri Lanka: Tax reform proposals presented to Parliament include VAT on nonresident digital service providers
Proposals presented to Parliament by the president on December 18, 2024
December 19, 2024
News
Australia: Taxpayers held promoters of scheme to exploit research and development tax incentive (Federal Court decision)
The court imposed civil penalties totaling AU$13.6 million.
December 18, 2024
News
Australia: List of specified jurisdictions for public country-by-country reporting
List includes 40 specified jurisdictions
December 18, 2024
News
India: Improvements to GST return filing process
Improvements become effective January 2025
December 17, 2024
News
India: Additional guidance on Direct Tax Vivad Se Vishwas Scheme 2024
Circulars address “frequently asked questions” regarding implementation of the scheme
December 17, 2024
News
Australia: Changes to country-by-country reporting exemption process
Changes effective for all exemption requests submitted after January 1, 2025
December 16, 2024
News
Bahrain: Pillar Two global minimum tax implementing regulations
The regulations prescribe detailed rules, conditions, and procedures for implementation and enforcement of the Pillar Two global minimum tax.
December 16, 2024
News
Australia: Consultation on updated draft ruling on application of “capital gains tax event K6”
Consultation on the updated draft taxation ruling closes February 14, 2025.
December 13, 2024
News
Australia: Proposed first-home buyer duty relief and general practitioner payroll tax exemption (Queensland)
Legislation proposes full transfer duty relief for first-home buyers and removal of payroll tax and mental health levy for general practitioners.
December 13, 2024
News
India: New group of taxpayers required to report invoices within 30 days
The tax administration expanded the scope of taxpayers who must submit invoices to the portal within 30 days of issue.
December 13, 2024
News
Indonesia: Guidance on tax treatment of joint operations
Guidance on VAT, luxury goods sales tax, corporate income tax, and withholding tax treatment of joint operations
December 13, 2024
News
Australia: Taxpayer alerts on early-stage investor tax offset scheme, Division 7A circumvention arrangements
Individuals who have entered into such arrangements advised to ask for a private ruling.
December 12, 2024
News
Australia: Updated guidance on public country-by-country reporting
Updates regarding public country-by-country reporting parent registration
December 12, 2024
News
Malaysia: Tax developments summary (December 2024)
Monthly report covering income tax, stamp duty, indirect tax, and individual tax developments
December 12, 2024
News
Malaysia: Guidance on Pillar Two global minimum tax
The guidance covers scope, filing obligations, transitional penalty relief, and safe harbors.
December 12, 2024
News
Australia: Pillar Two minimum tax, public CbC reporting, and foreign residents’ capital gains withholding bills receive Royal Assent
Legislation received Royal Assent on December 10, 2024.
December 11, 2024
News
New Zealand: Consultation on proposed changes to foreign investment fund rules for immigrating individuals
Comments are due by January 27, 2025.
December 10, 2024
News
India: Transfer pricing rules applicable to transactions between foreign company and its Indian branch (Tribunal decision)
Rules must be applied because foreign company taxable in India only on the income of its Indian branch
December 6, 2024
News
Australia: Guidance on thin capitalization rules, franked distributions, insurance premiums paid to nonresident insurers
Guidance includes draft income taxation ruling, draft practical compliance guideline, and draft practical compliance guideline update
December 4, 2024
News
Australia: Update on recent tax legislative developments
Parliament has recently passed several tax-related bills, which now await Royal Assent.
December 4, 2024
News
Japan: Overview of tax system (2024)
Taxation of companies, partnerships, and individuals, as well as international tax and indirect tax
December 4, 2024
News
Australia: Treasury releases draft legislation for tax treaty with Portugal incorporating BEPS provisions
Consultation on the draft legislation will close on December 22, 2024.
December 3, 2024
News
Saudi Arabia: E-invoicing requirement extended to 18th group of taxpayers from August 31, 2025
ZATCA announced the criteria for the 18th group of taxpayers required to comply with the second phase of the e-invoicing system implementation.
December 3, 2024
News
Australia: Parliament passes legislation implementing public country-by-country reporting
The legislation now awaits Royal Assent.
December 2, 2024
News
Australia: Parliament passes Pillar Two minimum tax bills
The legislation now awaits Royal Assent.
December 2, 2024
News
Australia: Application for stay of royalty withholding tax proceedings denied (Federal Court decision)
Stay sought while mutual agreement procedure ongoing under Australia-Ireland income tax treaty
December 2, 2024
News
Australia: Guidance on international transactions that attract scrutiny
Focus on related-party financing, transfer pricing, and thin capitalization rules
December 2, 2024
News
Australia: Parliamentary committee recommends implementing digital services tax
Report of Australian Parliament Joint Select Committee on Social Media and Australian Society
December 2, 2024
News
Australia: Parliament advances tax legislation for small businesses, build-to-rent developments, and production incentives
Parliament on November 28, 2024, advanced tax legislation for small businesses, build-to-rent developments, and production incentives
December 2, 2024
News
Singapore: Alternative net tonnage basis of taxation for shipping companies
Legislation was passed by Parliament and awaits presidential assent
December 2, 2024
News
Indonesia: Guidance on deductibility of uncollectible accounts
Deduction allowed under direct or indirect method
December 2, 2024
News
Malaysia: Amendments to indirect tax laws relating to Pulau 1
Pulau 1, part of Forest City, excluded from definition of “principal customs area” and reclassified as “designated area” for sales and services tax purposes
December 2, 2024
News
Maldives: Tightened enforcement procedures; new reporting rules for special economic zones
Recent tax-related developments
December 2, 2024
News
UAE: Grace period to update tax records; requests for review of tax assessment or administrative penalties
Recent tax procedure updates
December 2, 2024
News
UAE: Guide on corporate tax treatment of real estate investments for natural persons
Guide is effective October 24, 2024
December 2, 2024
News
Australia: Legislation implementing Pillar Two global minimum tax rules passes Senate
Two bills will return to the House of Representatives, while the other awaits Royal Assent
November 27, 2024
News
Australia: Proposed production tax incentives
Legislation introduced in the House of Representatives
November 26, 2024
News
India: Arbitral award under business contract treated as business income under Japan treaty (Tribunal decision)
The income was thus not taxable in India absent a permanent establishment (PE) in India.
November 26, 2024
News
Malaysia: Amendments to service tax regulations expand intra-group relief and update taxable services
Service Tax (Amendment) (No. 2) Regulations 2024
November 26, 2024
News
India: Taxpayer entitled to claim business losses from commercial transactions made in good faith (High Court decision)
Tax authority cannot question commercial decisions made in good faith in the absence of substantive evidence of malpractice
November 25, 2024
News
Australia: Consultation on cryptoasset reporting framework (CARF) and CRS amendments
The consultation closes January 24, 2025.
November 22, 2024
News
Australia: Bill addressing duty and land tax treatment of corporate collective investment vehicles passes Parliament (New South Wales)
The Revenue Legislation Further Amendment Bill 2024 has passed Parliament, without amendments.
November 22, 2024
News
Hong Kong: Upfront payment, but not necessarily ongoing royalties, under trademark sub-licensing arrangement held Hong Kong-sourced (Court of Appeal decision)
Lower court erred in law by determining all royalty income as Hong Kong-sourced
November 22, 2024
News
Hong Kong: Treatment of foreign-sourced in-kind dividends under foreign-sourced income exemption regime
The IRD determined that the in-kind dividends will not be regarded as “received in Hong Kong” for the purposes of the FSIE regime.
November 21, 2024
News
Singapore: Bills to implement global minimum tax; list of jurisdictions for exchange of CbC reports; applying for certificates of residence
Parliament passed bills to implement the multinational enterprise top-up tax and the domestic top-up tax
November 20, 2024
News
India: Compliance campaign for disclosure of foreign assets and income
The campaign aims to guide taxpayers who have high-value foreign assets that may not have been fully disclosed in their income tax return.
November 19, 2024
News
India: Treaty exemption available to foreign airline company in respect of code sharing arrangement (Tribunal decision)
The tribunal reiterated that to qualify for exemption under Article 8 of the treaty, it is not necessary that the taxpayer itself operates the ships or aircraft.
November 19, 2024
News
Kazakhstan: Proposal to expand list of goods eligible for zero VAT rate in special economic zones
Includes various construction materials, machinery parts, and food products
November 19, 2024
News
Malaysia: Framework for voluntary disclosure program
Comprehensive guidance on implementation of the compliance verification audit programme (AViP)
November 18, 2024
News
Australia: ATO extends filing deadline for country-by-country reporting entities
The ATO has granted a filing deferral through January 31, 2025.
November 15, 2024
News
Australia: Treasury opens consultation on legislation for enhanced ownership disclosure of listed entities
The consultation period closes on December 13, 2024.
November 15, 2024
News
Malaysia: Income tax and real property gains tax developments
Monthly report (November 2024) covering recent tax developments
November 14, 2024
News
Armenia: Agreement on automatic exchange of country-by-country reports
Enables the automatic exchange of key financial information from multinational enterprises
November 12, 2024
News
Bahrain: New income tax treaty with Guernsey; amendments to treaty with Czech Republic
Tax treaty developments
November 12, 2024
News
Cambodia: Guidance on tax relief and exemptions
Various guidance related to amendments to tax declarations, the real estate sector, stamp duty, and tax on salary
November 12, 2024
News
Maldives: Amendments to GST, tourism act, and airport fees ratified
Several tax law amendments, including increases in the tourism goods and services tax, green tax, and airport departure fees, have been enacted.
November 12, 2024
News
UAE: Tax guide on corporate tax returns includes transfer pricing thresholds and procedures
A tax guide on corporate tax returns detailing the contents and procedures for filing.
November 12, 2024
News
Philippines: Bill allowing nonresident tourists to apply for VAT refunds approved by Senate
Bill has yet to be signed into law
November 8, 2024
News
Israel: Proposed "Green Track" for R&D centers
“Green Track” would provide certainty on transfer pricing treatment of local R&D centers providing services to foreign MNEs
November 7, 2024
News
India: Nonrefundable advance maintenance fees taxable in year of receipt
Madras High Court decision
November 6, 2024
News
UAE: Corporate tax guide on tax residency and tax residency certificate
A comprehensive corporate tax guide
November 5, 2024
News
Oman signs tax treaties to avoid double taxation with Luxembourg and Estonia
Aim to eliminate double taxation on income and prevent tax evasion
November 4, 2024
News
Hong Kong: Outcomes from Pillar Two consultation
Key points contained in the government’s responses
November 4, 2024
News
Saudi Arabia: E-invoicing requirement extended to 17th group of taxpayers from July 31, 2025
ZATCA announced the criteria for the 17th group of taxpayers required to comply with the second phase of the e-invoicing system implementation.
November 4, 2024
News
New Zealand: Trade agreement with GCC (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE)
Provisions for reduced trade barriers and commitments to sustainable development and labor standards
November 4, 2024
News
Australia: ATO's 2022-2023 corporate tax transparency report
ATO also released tax and corporate Australia report, which includes the ATO’s approach to compliance of large corporates
November 1, 2024
More Tax Services
News
Vietnam: Updates concerning corporate income tax, VAT, and foreign contractor tax
Recent guidance covering corporate income tax, value added tax, foreign contractor tax, and other regulations
October 31, 2024
News
UAE: New guidance on tax residence and Tax Residency Certificate application procedures
Criteria for obtaining a Tax Residency Certificate
October 30, 2024
News
Hong Kong: Management fees paid to BVI affiliate not deductible
Court of First Instance decision
October 29, 2024
News
New Zealand: Summary of implementation of Pillar Two GloBE rules
Rules effective for fiscal years starting on or after January 1, 2025
October 29, 2024
News
Australia: Payroll tax changes (Northern Territory); land tax treatment of CCIVs (New South Wales)
State tax developments in Australia
October 28, 2024
News
Bahrain: Amendments to rules on permissible commercial activities for foreign owned companies
Amendments to certain provisions in relation to commercial activities that foreign owned companies can carry out in Bahrain.
October 28, 2024
News
Bangladesh: Summary of tax laws as amended by Finance Act 2024
Overview of the country’s tax laws
October 28, 2024
News
UAE: Implementation of mandatory e-invoicing from July 2026
The implementation plan will occur in three stages.
October 28, 2024
News
Cambodia: Tax, accounting, labor, and regulatory compliance reminders for 2024-2025
Deadlines for tax compliance obligations in Cambodia for the first six months of 2025
October 25, 2024
News
Malaysia: Overview of direct tax measures in 2025 budget
Direct tax proposals introduced in 2025 budget
October 24, 2024
News
Korea: Royalties for use of unregistered patents subject to tax under U.S. treaty (Tax Tribunal decision)
Royalties for the use of patents in Korea are considered domestic-source income, regardless of whether the patents are registered domestically or not.
October 23, 2024
News
Australia: Duty, land tax treatment of corporate collective investment vehicles (New South Wales); off-the-plan stamp duty concession (Victoria)
Recent tax developments from New South Wales and Victoria
October 22, 2024
News
Cambodia: Guidance covering fiscal obligations for real estate leases, cessation of business, tax relief for airlines
Guidance from the GDT concerning implementation of fiscal obligations for real estate leases, procedures for business cessation, and tax relief measures for airline companies
October 22, 2024
News
Hong Kong: Draft legislation granting tax deduction for lease reinstatement costs, removing time limit for claiming building allowances
Bill will be introduced into the Legislative Council on October 30, 2024
October 21, 2024
News
Malaysia: Indirect tax proposals in 2025 budget
Focuses on reviewing the existing sales tax and service tax regime instead of introducing a completely new tax
October 21, 2024
News
India: Long-term capital gains rate applicable to gains from depreciable assets held for more than 36 months
A special bench of the Income Tax Appellate Tribunal decision.
October 18, 2024
News
Saudi Arabia: Updated real estate transaction tax law
The Zakat, Tax, and Customs Authority (ZATCA) will be issuing the implementing regulations.
October 16, 2024
News
Australia: Guidance on compliance approach to restructuring transactions in response to new thin capitalization rules
The draft guidance describes a series of low-risk and high-risk factors and a four-color-coded risk-assessment framework.
October 15, 2024
News
Kuwait: Guidance on requirements under tax law on disposal/destruction of fixed assets
Taxpayers must notify the tax authority of any disposal/destruction of fixed assets no less than 30 days prior.
October 15, 2024
News
Malaysia: Capital gains tax exemptions for certain group restructurings and initial public offerings
The exemptions apply beginning March 1, 2024.
October 15, 2024
News
Australia: Draft legislation on small business tax obligations, foreign residents’ capital gains withholding passes lower house of Parliament
Draft legislation would increase the withholding rate on foreign residents’ capital gains from 12.5% to 15%
October 11, 2024
News
India: Amendments to GST rules including amnesty scheme
Introduces procedures for allowing benefits under the amnesty scheme from the Finance Act 2024
October 11, 2024
News
Australia: Revised fringe benefits tax exemptions for plug-in hybrid vehicles effective April 2025
Vehicles exempt before April 2025 can still qualify for exemption
October 10, 2024
News
India: Guidelines for applications to excuse delay in claiming refunds
Guidelines for taxpayers belatedly seeking refunds and carry-forward of loss
October 9, 2024
News
Malaysia: Summary of income and indirect tax developments (October 2024)
Monthly summary of tax developments covers income tax and indirect tax
October 9, 2024
News
Hong Kong: Sourcing of profits from container trading and leasing (court decision)
Determinative factor is where taxpayer’s operations were carried out
October 8, 2024
News
South Africa-Kuwait protocol ratified by Kuwait
Protocol would eliminate exemption from South Africa’s 20% dividends tax
October 8, 2024
News
India: Procedural disputes within revived reassessment proceedings (Supreme Court decision)
Supreme Court resolves certain procedural disputes raised in revived reassessment proceedings.
October 7, 2024
News
New Zealand: Updated compliance focus guide for multinationals reflects BEPS, Pillar Two changes
Guidance for multinationals in self-assessing their international tax and transfer pricing risk profiles
October 7, 2024
News
Australia: First annual R&D tax incentive transparency report
Information on R&D expenditure incurred by 11,545 companies in the 2021-22 income year
October 4, 2024
News
Australia: Supplementary annual GST return for certain large taxpayers
New return will be introduced for the 2024-2025 financial year for large taxpayers that have had a GST assurance review
October 4, 2024
News
Malaysia: Tax exemptions for unit trusts
Exemptions from capital gains tax and income tax on foreign sourced income apply from January 1, 2024
October 4, 2024
News
UAE: Updated executive regulation on VAT
More than 30 amendments impacting different industries
October 4, 2024
News
Philippines: New law imposes VAT on cross-border provision of digital services
The law imposes a 12% VAT on digital services consumed in the Philippines.
October 3, 2024
News
KPMG article: Survey on application of control of risk and DEMPE frameworks, focus on Japan
KPMG survey regarding how local tax authorities are approaching the control of risk and development, enhancement, maintenance, protection, and exploitation (DEMPE) frameworks
September 30, 2024
News
Saudi Arabia: E-invoicing requirement extended to 16th group of taxpayers from April 1, 2025
ZATCA announced the criteria for the 16th group of taxpayers required to comply with the second phase of the e-invoicing system implementation.
September 27, 2024
News
Philippines: Guidelines for tax refunds and credits
Mandatory requirements for processing tax credit certificates or cash refunds for erroneously or illegally collected taxes
September 26, 2024
News
Korea: Sales volume must be considered in determining comparability of transactions for transfer pricing purposes (Administrative Court decision)
Allegedly comparable transactions relied on by the tax authority were not, in fact, comparable
September 25, 2024
News
Australia: Approved form for thin capitalisation test choice
The Australian Taxation Office released its approved form that certain taxpayers may use to make a thin capitalisation test choice for an income year.
September 25, 2024
News
Australia: Consultation on draft legislation to amend fuel-efficient vehicle definition under luxury car tax
The consultation closes October 16, 2024.
September 23, 2024
News
Malaysia: Proposed single family office tax incentive regime for Forest City
0% tax rate for family offices for up to 20 years
September 23, 2024
News
Australia: Increased reporting requirements for Local file
Proposed Local file and Master file XML schema 4.0
September 20, 2024
News
Hong Kong: Guidance on profits tax treatment of items recognized in financial accounts in relation to long service payment
Inland Revenue Department (IRD) guidance
September 19, 2024
News
Cambodia: New procedures for postal and express consignments
GDCE updates related to customs procedures for postal, express consignments, and cross-border electronic trade of goods
September 18, 2024
News
Bahrain: Updated list of basic food items subject to 0% VAT
The National Bureau for Revenue published an updated list of basic food items subject to 0% VAT.
September 16, 2024
News
Philippines: Tax assessment notices not received by taxpayer were invalid (Supreme Court decision)
Assessment notices were invalid because they were not served to authorized representatives
September 16, 2024
News
Australia: Tax measures in 2024-2025 budget (Tasmania)
A number of existing duty exemptions/concessions would be extended.
September 16, 2024
News
Australia: Government registers updated payment times reporting rules
Payment Times Reporting Rules 2024 replace the 2020 rules to align with broader amendments
September 16, 2024
News
India: Fiscally transparency U.S. entity qualifies as U.S. resident eligible for treaty benefits (Tribunal decision)
A Tribunal decision concerning whether a U.S. limited liability corporation qualified as a U.S. resident eligible for treaty benefits under the U.S.-India income tax treaty.
September 13, 2024
News
Saudi Arabia: Proposed amendments to VAT regulations, including expansion of VAT obligations of marketplaces
The Zakat, Tax and Customs Authority launched a public consultation on proposed amendments to the value added tax regulations.
September 13, 2024
News
Australia: Draft legislation to streamline small business tax obligations, improve foreign residents’ capital gains withholding compliance
Draft legislation to reduce the administrative burden of tax processes on small businesses
September 13, 2024
News
Kazakhstan: VAT on foreign suppliers of digital products
Article 779 of the Kazakhstan Tax Code imposes 12% VAT on foreign suppliers of goods and services provided electronically to individuals in Kazakhstan.
September 11, 2024
News
Malaysia: Summary of income and indirect tax developments (September 2024)
A monthly summary of tax developments that covers income tax and indirect tax.
September 11, 2024
News
Australia: Transfer duty extension, interest reduction for eligible property buyers affected by construction delays (Western Australia)
The state tax authority will now be able to defer payments of transfer duty for eligible off-the-plan development buyers affected by construction delays.
September 11, 2024
News
Australia: Payments to drivers by ridesharing company not wages subject to payroll tax (NSW Supreme Court decision)
The Supreme Court of New South Wales held that payments to drivers by a ridesharing company are not wages subject to payroll tax.
September 10, 2024
News
India: Recommendations of GST Council meeting
Recommended changes to GST law decided at the 54th GST Council meeting
September 10, 2024
News
Bahrain: Updated VAT real estate guide
The updated guide provides further clarification on the VAT treatment for rental of retail and promotional stands.
September 9, 2024
News
Korea: Taxpayer not entitled to foreign tax credit for illegitimately withheld tax (Tax Tribunal decision)
The tax authority denied the taxpayer’s claim for a foreign tax credit for the Chinese withholding tax on the grounds that the payment for the guarantee service was not interest properly subject to withholding tax, but rather was “other income” under the Korea-China income tax treaty taxable only in Korea.
September 6, 2024
News
Australia: KPMG comments on proposed food donation tax offset legislation
KPMG tax professionals submitted a document with comments, generally supporting the core features of the legislation, but made some recommendations.
September 5, 2024
News
Australia: Senate Economics Committee report on build-to-rent tax incentive bills
The Senate Economics Legislation Committee released its report on build-to-rent tax incentive bills.
September 5, 2024
News
Saudi Arabia: E-invoicing requirement extended to 15th group of taxpayers from March 1, 2025
ZATCA announced the criteria for the 15th group of taxpayers required to comply with the second phase of the e-invoicing system implementation.
September 4, 2024
News
Australia: Guidance on employee versus independent contractor for income tax and superannuation guarantee purposes
Updated guidance on what constitutes an “employee” versus an “independent contractor” for income tax and superannuation guarantee purposes.
September 3, 2024
News
Australia: Guidance on payroll tax exemption for general practitioners in medical centers (New South Wales)
A regulation prescribing the area that comprises “metropolitan Sydney” for purposes of the state’s payroll tax exemption.
September 3, 2024
News
India: Exemption from capital gains on transfer of shares available under India-Mauritius treaty (High Court decision)
A High Court decision concerning an exemption from capital gains on transfer of shares available under India-Mauritius treaty.
September 3, 2024
News
New Zealand: August tax bill includes implementation of cryptoasset reporting framework (CARF)
Taxation (Annual Rates for 2024-25, Emergency Response and Remedial Matters) Bill
August 30, 2024
News
Australia: Update on corporate tax transparency reporting for 2022-2023 and onwards
2022-2023 will be the first year that data will be reported
August 29, 2024
News
Australia: Consultation on draft revenue ruling for business insurance tax (Victoria)
The consultation period for the draft ruling closes on September 25, 2024.
August 29, 2024
News
Australia: Proposal to introduce tax on short-term accommodations (Victoria)
The bill would introduce a 7.5% tax effective January 1, 2025, on bookings for short-term accommodations.
August 28, 2024
News
KPMG report: Shipping and offshore tax update (August 2024)
Global tax-related developments relevant for companies involved in shipping and related industries
August 28, 2024
News
Australia: KPMG comments on consultation on changes to foreign resident capital gains tax
Treasury released a consultation paper entitled “Strengthening the Foreign Resident Capital Gains Tax Regime.”
August 27, 2024
News
UAE: Corporate tax guide on determination of taxable income
Guidance to taxpayers for determining their taxable income and calculating corporate tax
August 27, 2024
News
Oman: New capital market incentives program includes tax benefits
Incentives program encourages private companies to list on the Muscat Stock Exchange (MSX)
August 26, 2024
News
Malaysia: Updated guidance on application of service tax to logistics services
Update effective March 1, 2024
August 26, 2024
News
Cambodia: Guidance on implementation of GDT e-Administration application
New desktop application will replace e-documents submission system on e-filing
August 26, 2024
News
Australia: Proposed amendments to legislation implementing Pillar Two global minimum tax rules
The federal government proposed amendments to legislation implementing Pillar Two global minimum tax rules currently before parliament.
August 23, 2024
News
Australia: Increase in first homeowner duty concessions (Western Australia)
The changes will apply to agreements entered into from May 9, 2024.
August 22, 2024
News
India: Guidance regarding requirement to obtain tax clearance certificate
Persons domiciled in India required to obtain tax clearance certificate (TCC) upon departure from India only in specified circumstances
August 22, 2024
News
Australia: Legislation implementing Pillar Two global minimum tax rules passes House of Representatives
The bills now move to the Senate for consideration.
August 22, 2024
News
Korea: Tax reform proposal for 2024
Proposal expected to be submitted to National Assembly by September 2, 2024
August 20, 2024
News
Vietnam: Updates on corporate income tax, individual income tax, invoicing and tax administration
Recent tax developments (August 2024)
August 16, 2024
News
Philippines: Guidance on tax law amendments
Guidance on amendments introduced by “Ease of Paying Taxes (EOPT) Act”
August 16, 2024
News
Philippines: Guidelines for tax credit certificates and refunds
Process for issuing tax credit certificates and cash refunds under the “Ease of Paying Taxes Act”
August 14, 2024
News
India: Petition to review decision on most favoured nation clause in tax treaties dismissed by Supreme Court
The Supreme Court dismissed a petition to review last year’s decision on most favoured nation clause in tax treaties.
August 13, 2024
News
UAE: First tax period for juridical persons
Tax period for a taxable person corresponds to their financial year for which a tax return must be filed
August 13, 2024
News
Malaysia: Summary of income and indirect tax developments (August 2024)
Monthly summary of tax developments that covers income tax and indirect tax
August 13, 2024
News
Australia: Food donation tax offset legislation introduced to Parliament
Proposed food donation tax offset for companies incurring expenses related to food donation activities for registered food charities
August 12, 2024
News
Bahrain: Updated VAT guides
Updated VAT financial services guide and general guide
August 12, 2024
News
India: Amendments to direct tax measures proposed in finance bill 2024
Details about proposed amendments to the Finance (No. 2) Bill, 2024
August 7, 2024
News
Australia: Updated guidance on petroleum resource rent tax implements gas transfer pricing review recommendations
Guidance applies to tax years beginning on or after July 1, 2024
August 7, 2024
News
UAE: Tax authority’s policy on issuing clarifications and directives, including advance pricing agreements
Decision No 4 of 2024 amends tax authority’s policy on issuing clarifications and directives
August 6, 2024
News
India: Subsidiary did not constitute agency permanent establishment under Japan treaty (tribunal decision)
A Tribunal decision concerning whether a foreign company has agency permanent establishment in India.
August 6, 2024
News
Malaysia: New versions of e-invoicing technical guidelines
IRBM published new updated versions of the guidelines for implementing the electronic invoicing mandate
August 5, 2024
News
Australia: Guidance on withholding tax obligations on certain payments to nonresidents
Taxpayers who pay interest, dividends, or royalties to nonresidents may need to meet certain withholding tax requirements.
August 2, 2024
News
India: Payments for bandwidth services not royalties taxable in India under the India-Singapore treaty
Delhi High Court decision
August 2, 2024
News
Cambodia: Establishment of special tax audit unit, implementation of tax incentives for informal economic development
Special tax audit unit to promote and expedite the resolution of taxpayer issues related to tax audits
August 1, 2024
News
India: Tax residency certificate presumptive proof of business activity for purposes of India-Mauritius treaty
Delhi bench of the Tribunal decision
August 1, 2024
News
Philippines: Guidance on updated invoicing requirements
Requirement to issue an invoice for both sales of goods and services
August 1, 2024
News
Australia: Food donations tax offset bill introduced in Senate
Food donations tax offset for companies for certain expenditures incurred in undertaking food donations activities for registered food charities
August 28, 2024
News
Australia: Updated thin capitalisation web guidance
The ATO updated its thin capitalisation web guidance to assist entities that need to apply the new thin capitalisation rules.
July 31, 2024
News
Philippines: Foreign shipping companies entitled to VAT zero-rating (Supreme Court decision)
A Supreme Court decision concerning whether foreign shipping companies were entitled to VAT zero-rating.
July 30, 2024
News
Australia: Guidance on taxable payments annual reports for contractor-provided services
Guidance for businesses that may be required to file a taxable payments annual report by August 28, 2024, for contractor-provided services.
July 30, 2024
News
Australia: Updates to taxation ruling related to “exploration of petroleum” for purposes of petroleum resource rent tax
Update will apply to all expenditures incurred from August 21, 2013
July 30, 2024
News
Australia: Consultation on draft law extending time period for SMEs to file amended returns from two to four years
Draft bill is one component of the government’s small business package that was announced in the 2023-2024 Budget
July 30, 2024
News
Malaysia: New transition measure for e-invoicing mandate
Six-month transition period for the mandatory electronic invoicing (e-invoicing) regime
July 29, 2024
News
Saudi Arabia: E-invoicing requirement extended to 14th group of taxpayers from February 1, 2025
The 14th group will include taxpayers whose VAT-liable revenues exceeded SAR 5 million in 2022 or 2023.
July 29, 2024
News
Philippines: Updated invoicing requirements
Bureau of Internal Revenue (BIR) issued regulations to implement invoicing requirements
July 24, 2024
News
Australia: Consultations on changes to foreign resident capital gains tax, foreign resident withholding tax regimes
Government initiated consultations on proposed changes to the foreign resident capital gains tax and withholding tax regimes
July 24, 2024
News
Australia: Consultation on amendments to payment times reporting rules
Consultation on the draft rules closes August 19, 2024.
July 24, 2024
News
India: Tax measures in budget 2024-2025
No announcement regarding India’s adoption of the Pillar Two global minimum tax rules
July 24, 2024
News
Korea: Royalties received for use of domestically unregistered patents subject to withholding tax under U.S. treaty
Tax Tribunal decision
July 23, 2024
News
Australia: Application of taxation of financial arrangement rules to earn-outs (Federal Court decision)
A Federal Court decision concerning the application of taxation of financial arrangement rules to earn-outs.
July 22, 2024
News
Australia: Updated ATO advice on R&D tax transparency reporting
R&D information reporting on entities that amend their company tax return or R&D tax incentive schedule, and common registration errors
July 18, 2024
News
Australia: Superannuation tax updates report 2024
Report discussing the latest key superannuation tax updates
July 18, 2024
News
Pakistan: Indirect tax changes in Provincial Finance Acts, 2024 (Punjab, Sindh, KPK, and Balochistan)
Provincial Assemblies of Punjab, Sindh, KPK, and Balochistan approved their respective Finance Bills, which include various indirect tax changes
July 16, 2024
News
Oman: Draft legislation imposing individual income tax
Rates between 5% and 9%
July 16, 2024
News
Hong Kong: Stamp duty group relief only available to associated companies with issued share capital
Court of Appeal decision
July 16, 2024
News
Azerbaijan: Registration portal for VAT on cross-border provision of digital services
Registration is currently optional for taxpayers.
July 16, 2024
News
Malaysia: Summary of income and indirect tax developments (July 2024)
A monthly summary of tax developments that covers income tax, indirect tax, and electronic invoicing.
July 12, 2024
News
Malaysia: New voluntary disclosure program
Covers all indirect taxes, duties, and levies under RMCD
July 11, 2024
News
India: Portion of service fee from single contract attributable to PE taxable in India (High Court decision)
Bifurcated portion of service fee is taxable in India as business income
July 11, 2024
News
Australia: ATO to collect data from online selling platforms
The ATO will start collecting sales data from online selling platforms from the period 2023-2024 through 2025-2026.
July 10, 2024
News
Saudi Arabia: E-invoicing requirement extended to 13th group of taxpayers from January 2025
Taxpayers with VAT-liable revenues exceeding SAR 7 million in 2022 or 2023
July 10, 2024
News
Pakistan: Withholding tax collection rates for tax year 2025
KPMG report in table format
July 10, 2024
News
Hong Kong: Guidance on foreign-sourced income exemption regime
Guidance on various aspects of foreign-sourced income exemption regime, including definition of covered income and economic substance requirement
July 10, 2024
News
India: Consultation on draft export and import regulations
The Reserve Bank of India has invited comments from all stakeholders on the draft regulations by September 1, 2024.
July 9, 2024
News
Australia: Payment times reporting legislation passes Parliament
The Payment Times Reporting Amendment Bill 2024 has passed both Houses of Parliament, with amendments.
July 9, 2024
News
Vietnam: Reduced VAT rate for second half of 2024
Reduced 8% value added tax rate for most goods and services
July 9, 2024
News
Australia: Changes to non-arm’s length income provisions for superannuation funds
The changes became effective July 1, 2024, and apply from July 1, 2018.
July 9, 2024
News
Australia: Guidance on changes to income tax reporting for trustees and trust beneficiaries
Modernization of trust administration systems (MTAS) effective as of July 1, 2024
July 9, 2024
News
Hong Kong: Legislation introducing patent box regime enacted
Concessionary tax rate for Hong Kong-sourced taxable profits derived from use or sale of eligible intellectual property
July 9, 2024
News
Australia: Legislation clarifying “exploration for petroleum,” updating transfer pricing guidance passes Parliament
The legislation proposes tax measures that would clarify “exploration for petroleum” and update transfer pricing guidance.
July 9, 2024
News
Malaysia: Updated e-invoice guidelines and FAQs
Inland Revenue Board of Malaysia issued updates concerning electronic invoicing
July 3, 2024
News
Australia: Functional currency realization events on certain loan repayments
ATO updated its 2024 completed issues list
July 3, 2024
News
Pakistan: Direct and indirect tax measures in Finance Act, 2024
The provisions are generally effective July 1, 2024.
July 3, 2024
News
Australia: Legislation on taxation of general insurers receives Royal Assent, ATO guidance released
Legislation that reduces the income tax compliance burden on the general insurance industry
July 2, 2024
News
Saudi Arabia: Penalty waiver for taxes, including VAT and excise tax, extended through December 2024
Amnesty initiative that waives fines and penalties relating to corporate income tax, withholding tax, VAT, excise tax, and real estate transaction tax
July 2, 2024
News
Australia: ATO guidance on small business incentives
ATO guides on instant asset write-off and small business energy incentive
July 2, 2024
News
Vietnam: Extended deadlines for payment of income tax, VAT, land rental fee, special consumption tax for automobiles
Decree 64/2024/ND-CP and Decree 65/2024/ND-CP
July 1, 2024
News
Vietnam: Public consultation on draft corporate income tax law
Including 2% gross basis tax on share transfers by foreign corporate shareholders
July 1, 2024
News
Australia: Consultation on hydrogen, critical minerals production tax incentives
Feedback requested on proposed Hydrogen Production Tax Incentive and Critical Minerals Production Tax Incentive
August 28, 2024
News
Australia: Guidance on medical industry payroll tax (Victoria)
Victoria’s tax authority released guidance on payroll tax for the medical industry.
June 28, 2024
News
Australia: Updated advice on waiver of 2020-2021, 2021-2022 payroll taxes for eligible employers (Victoria)
Victoria’s tax authority issued updated advice on its waiver of payroll taxes for eligible employers as a result of the coronavirus pandemic.
June 27, 2024
News
Australia: Real property tax proposals in 2024-2025 budget (Australian Capital Territory)
The Australian Capital Territory government released its 2024-2025 budget focused on housing affordability and concessions for the disadvantaged.
June 27, 2024
News
Australia: Taxpayer not liable for withholding tax on embedded royalties or subject to DPT (Full Federal Court decision)
Full Federal Court found in favor of the taxpayer
June 26, 2024
News
KPMG report: Global developments in ESG-related taxes, incentives, and grants (ESG tax tracker, updated June 2024)
Existing legislation and upcoming regulations under consideration
June 26, 2024
News
Australia: Guidance on when tax authority may disregard operation of “Division 7A”
Discretion may only be granted in certain circumstances
June 26, 2024
News
Hong Kong: Proposals to grant tax deduction for lease reinstatement costs, remove time limit for claiming building allowances
Government proposes that the measures be effective from the year of assessment 2024/2025
June 26, 2024
News
Australia: Legislation on taxation of general insurers passes Parliament
Would reduce income tax compliance burden on general insurance industry
June 26, 2024
News
Australia: Guidance on claiming foreign resident capital gains withholding tax credit
Advisory for residents who sold property without clearance certificate claiming foreign resident capital gains withholding tax credit
June 25, 2024
News
India: Recommendations of GST Council meeting
Recommended changes to goods and services tax law decided at 53rd GST Council meeting
June 24, 2024
News
Australia: Housing and employment support bill passes parliament (Tasmania)
Includes an increase in first home buyer stamp duty concession and a tax-free threshold on land tax
June 21, 2024
News
Australia: Tax measures in 2024 budget (New South Wales)
The New South Wales budget includes a number of tax measures.
June 20, 2024
News
Sri Lanka: New proposed tax measures following IMF review of “extended fund facility”
Overview of the proposed tax measures
June 18, 2024
News
Australia: Paid parental leave payments are not liable to payroll tax (Victoria)
Paid parental leave payments do not constitute wages and are therefore not liable to payroll tax.
June 18, 2024
News
Australia: Increased foreign property investor surcharges, land tax thresholds (New South Wales)
The government announced that it will be increasing the foreign purchaser duty surcharge and foreign owner land tax surcharge for 2025.
June 18, 2024
News
Australia: ATO clarifies “working from home” compliance guidance
Updated practical compliance guideline (PCG 2023/1)
June 18, 2024
News
India: General anti-avoidance rule may apply even if not within scope of specific anti-avoidance rule (High Court decision)
High Court decision concerning application of general anti-avoidance rule within scope of specific anti-avoidance rule
June 17, 2024
News
Cambodia: Guidance on income tax incentives for expanded qualified investment projects
The new guidance imposes stricter criteria when computing the EQIP exemption rate.
June 14, 2024
News
Pakistan: Direct and indirect tax measures in Finance Bill, 2024
The Finance Bill, 2024 was presented to the National Assembly.
June 13, 2024
News
Australia: Withholding schedules for estimated taxes for 2024-2025
Withholding schedules under the “pay as you go” system beginning July 1, 2024
June 13, 2024
News
Malaysia: Summary of income and indirect tax developments (June 2024)
A monthly summary of tax developments that covers income tax, indirect tax, and electronic invoicing
June 12, 2024
News
Australia: Proposed increase in stamp duty exemptions for first-time home buyers (Queensland)
The government announced it intends to increase the stamp duty exemption for first time home buyers.
June 11, 2024
News
Bangladesh: Income tax and VAT proposals in Finance Bill 2024
Changes to capital gains tax rates, VAT rates and exemptions
June 11, 2024
News
UAE: Guidance on manpower services versus Visa facilitation services for VAT purposes
The difference between manpower services and Visa facilitation services for VAT purposes
June 11, 2024
News
Australia: Tax relief measures in 2024 budget (South Australia)
No new taxes were introduced.
June 8, 2024
News
Australia: Payment times reporting legislation passes House
Aims to implement the federal government's response to the Statutory Review of the Payment Times Reporting Act
June 7, 2024
News
India: Mere existence of subsidiary in India does not automatically constitute a permanent establishment (High Court decision)
To establish a PE, conditions outlined in applicable treaty must be met based on actual facts of the case
June 7, 2024
News
Australia: Petroleum resource rent tax deductions cap in effect from 1 July 2023
ATO update on the petroleum resource rent tax (PRRT) deductions
June 7, 2024
News
Australia: Legislation including “Buy Now, Pay Later” and build-to-rent measures introduced to Parliament
The Senate Committee is expected to publish its report on 24 June 2024.
June 6, 2024
News
Vietnam: Recent direct and indirect tax developments
An overview of recent tax-related developments
June 6, 2024
News
Australia: Reporting exemption for specified transactions for electronic distribution platform operators
The ATO registered a legislative instrument that exempts EDP operators from having to include specified classes of transactions in their reporting.
June 6, 2024
News
India: Guarantee charges received by foreign company not considered “interest,” taxable as “other income” (High Court decision)
Delhi High Court upheld the decision of the Delhi bench of the Tribunal
June 5, 2024
News
Qatar: Income tax treaty agreements with Saudi Arabia and UAE signed
The Ministry of Finance signed two separate income tax treaty agreements with Saudi Arabia and the United Arab Emirates.
June 4, 2024
News
Bahrain: Updated VAT guide
Updated value added tax general guide (version 1.10)
June 3, 2024
News
New Zealand: Budget 2024
A report that discusses the tax-related proposals in the budget.
May 31, 2024
News
Saudi Arabia: E-invoicing requirement extended to 12th group of taxpayers from December 1, 2024
Taxpayers with VAT-liable revenues exceeding SAR 10 million in 2022 or 2023
May 30, 2024
News
Australia: House passes legislation clarifying “exploration for petroleum,” updating transfer pricing guidance
Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill 2024
May 30, 2024
News
Japan: Explanation of guidance on income inclusion rule, associated forms and schedules
National Tax Agency explanation of guidance relating to the income inclusion rule
May 30, 2024
News
India: Taxation of foreign branch at higher rate not prevented by non-discrimination article of treaty (High Court decision)
Netherlands bank taxed at higher corporate tax rate than that applicable to domestic company
May 30, 2024
News
Korea: Revised CRS regulations
Updated tax residency self-certification forms
May 29, 2024
News
Australia: Proposal to prohibit decreases in coal royalty rates without legislative action (Queensland)
The Queensland government introduced a proposal to prohibit decreases in coal royalty rates without legislative action.
May 24, 2024
News
India: Interest paid by permanent establishment to overseas head office not taxable under India-France treaty (tribunal decision)
Not taxable in India under the interest article of the India-France tax treaty
May 24, 2024
News
China: Guidance on employer equity incentives
Individual income tax payment period for equity incentives; tax reporting and filing requirements for equity incentives
May 23, 2024
News
Australia: KPMG comments on subordinate draft legislation implementing Pillar Two global minimum tax rules
KPMG tax professionals provided a submission to Treasury on the primary legislation
May 23, 2024
News
Australia: New ad valorem mineral royalty scheme (Northern Territory)
Legislation that changes the way mineral royalties are calculated in the Northern Territory passed in the Legislative Assembly.
May 23, 2024
News
Australia: Payroll tax changes (Victoria, South Australia, and Tasmania)
The governments of Victoria, South Australia, and Tasmania announced payroll tax-related changes.
May 23, 2024
News
Australia: Draft legislation extending fringe benefit tax exemption for electric vehicles introduced in Senate
Draft legislation would extend the fringe benefits tax exemption for plug-in hybrid electric vehicles until 1 April 2030
May 23, 2024
News
UAE: Corporate tax guide on free zone regime
Qualifying free zone persons are subject to a 0% corporate tax rate on qualifying income
May 22, 2024
News
Korea: Permanent establishment found based on cost and profit sharing agreement (Tax Tribunal decision)
Taxpayer and Korean company effectively operated a joint business in Korea and thus the taxpayer had formed a PE in Korea
May 22, 2024
News
Australia: FY 2023-2024 income tax filing requirements
The ATO registered Taxation Laws Instrument 2024, as well as the new requirement for not-for-profit self-review returns to be filed.
May 21, 2024
News
Australia: Guide on how to avoid unexpected tax consequences in relation to “Division 7A” loan repayments
Loans from a private company to shareholders or associates must be either repaid in full or placed on a Division 7A complying loan agreement
May 21, 2024
News
Australia: Commercial and industrial property tax reform passed by Parliament (Victoria)
Victoria’s Commercial and Industrial Property Tax Reform Bill 2024 passed both state houses of Parliament
May 21, 2024
News
Australia: Proposed exemptions from sharing economy reporting regime
Proposed exemptions would apply even to supplies that create a GST liability for the supplier or electronic distribution platform
May 21, 2024
News
Bahrain: Updated VAT real estate guide
The National Bureau for Revenue published an updated version of the VAT real estate guide.
May 20, 2024
News
Australia: Green hydrogen and critical minerals production tax incentives announced in 2024 federal budget
Proposed tax incentives and funding for green energy and critical minerals processing projects
May 17, 2024
News
Cambodia: Guidance on implementation of new e-filing system; tax incentives for education sector
New desktop application “GDT e-Administration”; tax incentives provided to the education sector until the end of 2028
May 17, 2024
News
Cambodia: Guidance related to public lighting tax, VAT, and patent tax
New guidance related to public lighting tax, VAT, and patent tax
May 17, 2024
News
Australia: Tax promoter bill passes Parliament
The bill proposes to improve the ability of the ATO to target promoters of tax exploitation schemes.
May 17, 2024
News
Thailand: Tax and other incentives for businesses involved in manufacture of printed circuit boards
Various incentives for an extended range of businesses involved in the manufacture of printed circuit boards announced
May 16, 2024
News
Australia: House disagrees with amendments to small business incentive and charities bill
The bill will now return to the Senate for further consideration.
May 16, 2024
News
Australia: 2024 federal budget released
The KPMG member firm in Australia has summarized and analyzed the budget announcements and its implications for various sectors and businesses.
May 15, 2024
News
Bangladesh: Overview of recent direct and indirect tax developments
Reduced tax rates for asset management companies and exporters
May 15, 2024
News
Australia: No tax measures announced in 2024-2025 budget (Northern Territory)
No new taxes or revisions to existing taxes were announced.
May 15, 2024
News
Australia: Priority guidance on amendments to thin capitalization rules
The ATO released a list of priority public advice and guidance topics arising from amendments to the thin capitalization rules.
May 15, 2024
News
Australia: Build-to-rent land tax exemption legislation passes Parliament (Western Australia)
The exemption is available from the 2023-2024 assessment year.
May 15, 2024
News
Malaysia: Updated advance pricing arrangement guidelines
Updated guidelines tighten the eligibility criteria for APA applications
May 15, 2024
News
Malaysia: Summary of income and indirect tax developments (May 2024)
A monthly summary of tax developments that covers income tax, indirect tax, transfer pricing, and electronic invoicing.
May 14, 2024
News
Australia: Consultation on draft legislation eliminating withholding tax on certain payment to U.S. entertainers
The ATO released for consultation a draft legislative instrument that would eliminate withholding on certain payments made to U.S. entertainers.
May 10, 2024
News
Australia: Consultation on draft legislation changing GST treatment of certain motor vehicles supplies
Consultation closes 6 June 2024
May 10, 2024
News
Australia: Tax-related proposal in 2024-2025 budget (Western Australia)
The Western Australian Budget 2024-2025 was delivered on 9 May 2024 and includes a tax-related proposal.
May 10, 2024
News
India: Cost of bonus shares is zero for purposes of computing capital gains (tribunal decision)
A tribunal decision concerning cost of acquisition of bonus shares for purposes of computing capital gains.
May 10, 2024
News
Saudi Arabia: Guidelines for regional headquarters eligible for tax incentives
Detailed explanations of regulatory provisions and practical examples illustrating the application and utilization of tax incentives
May 8, 2024
News
Australia: Overview of direct and indirect tax measures in 2024-2025 budget (Victoria)
The Victorian government’s budget 2024-2025, which was delivered on 7 May 2024, includes direct and indirect tax measures.
May 8, 2024
News
Saudi Arabia: Proposed amendments to real estate transaction tax regulations
ZATCA announced amendments to the RETT regulations
May 8, 2024
News
UAE: Corporate tax guide on qualifying group relief
Corporate tax guide on relief for transfers within a qualifying group
May 7, 2024
News
Hong Kong: Tax authority’s views on various issues relating to profits tax, including FSIE regime
2023 annual meeting between Hong Kong Institute of Certified Public Accountants and Inland Revenue Department
May 7, 2024
News
India: Premium received on redemption of debentures is interest income, not capital gains (tribunal decision)
Redemption of debentures is the repayment of a debt, not an extinguishment of any rights in a capital asset
May 7, 2024
News
Bahrain: New tourist levy on hotel accommodations
The Ministry of Tourism introduced a new tourist levy on hotel accommodations.
May 6, 2024
News
Japan: 2024 tax reform passed by Parliament
The Japanese Parliament passed the 2024 tax reform bills.
May 1, 2024
News
New Zealand: Overview of taxation of interests in foreign investment funds
New Zealand rules present a risk of double taxation because they differ from the way tax rules generally operate in the rest of the world
May 1, 2024
News
New Zealand: Overview of taxation of interests in foreign investment funds
New Zealand rules present a risk of double taxation because they differ from the way tax rules generally operate in the rest of the world
May 1, 2024
News
Australia: Cryptoasset data-matching program
The Australian Taxation Office issued a gazette notice to “crypto designated service providers” of its data-matching program.
April 30, 2024
News
Australia: Amendments to superannuation system
A key amendment in the amending regulation is the addition of a new paragraph into the definition of “superannuation system”.
April 30, 2024
News
Saudi Arabia: E-invoicing requirement extended to 11th group of taxpayers from 1 November 2024
Taxpayers with VAT-liable revenues exceeding SAR 15 million in 2022 or 2023
April 29, 2024
News
Korea: Interest deductions could be challenged on arm’s length grounds, but not wholly denied as tax avoidance
Tax Tribunal decision
April 25, 2024
News
Korea: New guidance on improving data collection during customs audits
New administrative regulations aimed at improving data collection during customs audits
April 25, 2024
News
India: Payment for sharing third-party shrink-wrapped software not a royalty (tribunal decision)
A tribunal decision concerning whether payment for sharing third-party shrink-wrapped software was taxable as a royalty.
April 24, 2024
News
Australia: Payroll tax payable by mortgage aggregator on commissions paid to brokers
A Supreme Court of New South Wales decision concerning payroll tax payable by mortgage aggregator on commissions paid to brokers.
April 24, 2024
News
Australia: Update on “Next 5,000” private groups tax performance program
How the ATO will engage with the “Next 5,000” privately owned and wealthy groups
April 23, 2024
News
Australia: Legislation requiring disclosure of subsidiaries' tax residence in financial reports enacted
Public companies will now be required to include a "consolidated entity disclosure statement" in their annual financial reports.
April 23, 2024
News
Australia: Guide to manage requirements of “Division 7A” loan
A guide to assist taxpayers in correctly managing requirements of a “Division 7A” loan
April 23, 2024
News
Australia: KPMG comments on draft legislation implementing Pillar Two global minimum tax rules
KPMG tax professionals provided a submission to Treasury
April 19, 2024
News
Australia: Discussion paper on thin capitalization rules for foreign bank branches
Comments are due 31 May 2024.
April 19, 2024
News
Australia: Performance audit report on management of transfer pricing for related-party debt
The audit was done to provide assurance to the Parliament that the ATO “effectively manages transfer pricing for related party debt.”
April 18, 2024
News
Saudi Arabia: New Zakat implementing regulation
The new regulation applies to financial years starting on or after 1 January 2024.
April 18, 2024
News
Malaysia: Summary of income and indirect tax developments (April 2024)
A monthly summary of tax developments that covers income tax, indirect tax, individual (personal) tax, and electronic invoicing (e-invoicing).
April 18, 2024
News
Australia: Consultation on draft payment times reporting legislation
Proposed amendments seek to improve the operation of the payment times reporting scheme
April 18, 2024
News
Australia: Extension of due date for certain tax returns due 15 May to 5 June
The Australian Taxation Office has extended the due date for certain taxpayers whose tax returns are due on 15 May to 5 June.
April 18, 2024
News
India - Mauritius tax treaty update
Protocol to amend double taxation avoidance agreement (DTAA) that includes a principal purpose test rule
April 17, 2024
News
Australia: Changes to trust tax returns and private rulings application forms
Upcoming changes to annual tax return forms for trust income reporting, and private rulings application forms
April 16, 2024
News
India: Discrimination in extending time limit for registration by new charitable institutions held unconstitutional
A Madras High Court decision concerning whether extending time limit for registration by charitable institution was unconstitutional
April 15, 2024
News
Hong Kong: Draft legislation on proposed patent box regime
5% concessionary tax rate for Hong Kong-sourced taxable profits derived from use or sale of eligible intellectual property
April 12, 2024
News
Australia: Guidance on reduced input tax credit claims
ATO guidance setting out how it will review complex information technology outsourcing arrangements in financial services sector
April 12, 2024
News
Korea: Guidance regarding amendments to Pillar Two rules
The Ministry of Economy and Finance published regulations regarding the amendments to the Korean Pillar Two global minimum tax rules.
April 11, 2024
News
Australia: Consultation on implementation of build-to-rent tax incentives
Tax incentives to encourage investment and construction in the build to rent sector
April 10, 2024
News
Malaysia: Updated e-invoicing guidelines, software development kit
The Inland Revenue Board issued an updated e-invoice guideline and e-invoice specific guideline.
April 9, 2024
News
Australia: Consultation on proposal to exempt lump sums payments in arrears from medicare levy
Consultation on a proposed 2023–2024 Budget measure that would exempts eligible lump sum payments in arrears from medical levy
April 9, 2024
News
Australia: Attribution of risk weighted assets to branches of foreign banks for purposes of thin capitalization rules
The consultation closes 31 May 2024.
April 9, 2024
News
Australia: Legislation on interest limitation rules receives Royal Assent
New interest limitation (thin capitalization) rules
April 9, 2024
News
Hong Kong: Guide to 2023-2024 profits tax filing
Due dates for filing profits tax returns
April 8, 2024
News
Bahrain: Deadline for country-by-country reporting filings for FY 2023 is 31 December 2024
The Ministry of Industry and Commerce issued a letter regarding country-by-country (CbC) reporting filings for FY 2023.
April 8, 2024
News
Australia: New 2024 reportable tax position schedule released, with new questions on intangibles migration arrangements
The Australian Taxation Office released the new reportable tax position schedule and instructions for 2024.
April 4, 2024
News
Australia: Consultation on amendments to transfer balance credit provisions for superannuation successor fund transfer
Consultation a draft legislative instrument that seeks to amend transfer balance credit provisions for superannuation successor fund transfer
April 4, 2024
News
Australia: Law requiring public disclosure of tax residency passes Parliament
New public disclosure requirements of tax residency for public companies passed both houses of Parliament
April 4, 2024
News
Saudi Arabia: E-invoicing requirement extended to 10th group of taxpayers from 1 October 2024
Criteria for selecting targeted taxpayers in tenth wave for implementing “integration phase” of e-invoicing announced
April 2, 2024
News
Malaysia: Proposed changes to capital gains tax, e-invoicing, and revised estimate of tax payable
The Income Tax (Amendment) Bill 2024 and Labuan Business Activity Tax (Amendment) Bill 2024 include proposed tax-related changes.
April 1, 2024
News
Bahrain: Updated VAT guide
Guidance on the recent extension of the period for retaining records and accounting books
April 1, 2024
News
Bahrain: New FATCA / CRS directive
The Central Bank of Bahrain issued a new FATCA / CRS Directive OG/100/2024.
April 1, 2024
News
India: Taxpayer not providing intermediary services for service tax purposes (Supreme Court decision)
A Supreme Court decision concerning intermediary services for service tax purposes.
April 1, 2024
News
Laos: VAT on cross-border provision of digital services
Provisions, effective 1 August 2024, requiring nonresident digital services providers to register for and collect value added tax
March 29, 2024
News
Malaysia: Additional guidance on service tax
Service tax policies effective 1 March 2024
March 29, 2024
News
Australia: Bill introduced to clarify “exploration for petroleum” meaning
Legislation proposing amendments to the general anti-avoidance provisions in the Petroleum Resource Rent Tax Assessment Act
March 28, 2024
News
Australia: Changes to Top 1,000 combined assurance program
Taxpayers will be divided into two categories—significant taxpayers and general pool taxpayers.
March 28, 2024
News
Australia: Legislation on interest limitation rules and foreign investment fees; bill on taxation of general insurers
Legislation considered by Parliament
March 28, 2024
News
Australia: Consultation on draft legislation, regulations to streamline administration of fuel, alcohol excise
Consultation for these draft materials closes on 5 April 2024.
March 25, 2024
News
Australia: Taxpayer entitled to interest deductions with respect to foreign related-party financing for third-party acquisition
Federal Court decision
March 25, 2024
News
Australia: Consultation on draft legislation implementing Pillar Two global minimum tax rules
Consultation on primary legislation closes 16 April 2024, and consultation on subordinate legislation closes 16 May 2024.
March 22, 2024
News
Australia: Draft legislation to repeal stamp duty on commercial, industrial property and replace with property tax
Victoria introduced a bill that would repeal stamp duty on commercial, industrial property and replace it with commercial and industrial property tax
March 22, 2024
News
Australia: Temporary extension of land tax exemption for homeowners affected by construction delays (Western Australia)
The Western Australian Parliament passed a bill that extends the land tax exemption for homeowners affected by construction delays.
March 22, 2024
News
Australia: Consultation on new proposed reporting exemptions for electronic distribution platform operators
Consultation on a draft legislative instrument that would introduce new reporting exemptions for electronic distribution platforms operators
March 21, 2024
News
Australia: Tax promoter bill passes House; superannuation tax concessions; petroleum resource rent tax
Reports about recent tax developments
March 19, 2024
News
India: Service permanent establishment; provision of cloud-based software-driven platform as technical services
Reports about recent court decisions
March 15, 2024
News
New Zealand: Amendments to May 2023 Tax Bill
The government added number of additional measures via an amendment paper to the recently reported back Taxation Bill.
March 15, 2024
News
Australia: Draft legislative instruments on filing requirements for 2024 returns
Consultation for both draft legislative instruments close on 9 April 2024.
March 15, 2024
News
Australia: General anti-avoidance rule did not apply to taxpayer’s distribution of income (Full Federal Court decision)
Full Federal Court decision concerning whether general anti-avoidance rule applied to taxpayer’s distribution of income
March 15, 2024
News
Malaysia: Summary of income and indirect tax developments (March 2024)
A monthly summary of tax developments that covers income tax, indirect tax, individual (personal) tax, and electronic invoicing.
March 14, 2024
News
UAE: New proposed law on taxation of foreign banks (Dubai)
The government issued new law on the taxation of foreign banks operating in the emirate of Dubai.
March 14, 2024
News
Cambodia: Revised guidelines for identifying goods and inspecting procedures
The Ministry of Economy and Finance issued Prakas No. 924 to revise guidelines for identifying goods and inspecting procedures.
March 13, 2024
News
New Zealand: Amendments to 39% trust tax rate proposal
33% tax rate would continue to apply if total net trustee income is NZ$10,000 or less
March 12, 2024
News
Australia: Consultation on removal of “nuisance tariffs”
Consultation on the nuisance tariffs selected for removal closes 1 April 2024.
March 12, 2024
News
Malaysia: Guidance on exemption from service tax for certain logistics services
Logistics services that are exempt from service tax
March 12, 2024
News
Australia: Guidance on applying for variations from foreign resident capital gains withholding
12.5% FRCGW applies to all property sales of AU$750,000 or more unless there is an approved variation
March 12, 2024
News
Australia: Taxpayer failed to meet burden of proof in transfer pricing dispute (Full Federal Court decision)
A Full Federal Court decision concerning burden of proof in a transfer pricing dispute involving cross-border related party financing.
March 12, 2024
News
Bahrain: Tax treaty and investment protection agreement signed with Hong Kong
Bahrain and Hong Kong signed a comprehensive income tax treaty and an investment promotion and protection agreement.
March 11, 2024
News
Philippines: Proposed legislation regarding VAT on cross-border provision of digital services
Proposed 12% VAT on digital services consumed in the Philippines
March 7, 2024
News
Malaysia: Recent guidance on capital gains tax
Guidance on application of the capital gains tax in Malaysia
March 6, 2024
News
Australia: Individual income tax and medicare levy bills receive Royal Assent
Legislation that would modify income tax changes and medicare levy for low-income individuals received Royal Assent.
March 6, 2024
News
Australia: KPMG comments on revised draft legislation implementing public country-by-country reporting
In response to the government’s request for comments, KPMG tax professionals provided a submission to Treasury.
March 6, 2024
News
India: Centralization of FATCA and CRS self-certifications
The Securities and Exchange Board decision to centralize FATCA and CRS self-certifications with KYC registration agencies.
March 6, 2024
News
India: Deductions for payments to nonresidents upheld; discount by telecom company to distributor not a commission
Reports about recent court decisions
March 5, 2024
News
Australia: Overhead costs apportioned to GST-free supplies entitled to input tax credits (Full Federal Court decision)
A Full Federal Court decision concerning whether overhead costs apportioned to GST-free supplies was entitled to input tax credits.
March 5, 2024
News
Cambodia: Market interest rate for related party loans; incentives for voluntary amendment of tax declarations
A notification sets market interest rates for employee loans and loans between related parties for the year 2023
March 4, 2024
News
Bahrain: Extension of record retention period for VAT
The National Bureau for Revenue announce the extension of retention period of records and accounting books relating to VAT by five additional years.
March 4, 2024
News
Azerbaijan: Electronic accounting required for certain entities
A law requires that accounting for certain categories of entities be conducted in electronic form
March 1, 2024
News
Azerbaijan: Designation of strategic investment projects qualifying for tax benefits
Strategic investment projects that may qualify for investment promotion and thus exemption from a number of taxes and customs duties
March 1, 2024
News
Malaysia: Service tax policies and FAQs
The Royal Malaysian Customs Department issued service tax policies and FAQs.
February 29, 2024
News
Hong Kong: Direct and indirect tax proposals in 2024-2025 budget
The Financial Secretary delivered the 2024-2025 budget that included tax-related proposals.
February 29, 2024
News
UAE: Timelines for corporate tax registration
Timelines for corporate tax registration for all taxable persons under UAE corporate tax law
February 28, 2024
News
Australia: Individual income tax and medicare levy bills pass both Houses of Parliament
The bills await Royal Assent
February 28, 2024
News
India: Guidance on waiver of certain outstanding direct tax liabilities
Certain outstanding direct tax liabilities would be forgiven
February 28, 2024
News
Korea: Software fees paid to Irish affiliate treated as royalties paid to U.S. parent (Tax Tribunal decision)
A Tax Tribunal decision concerning software fees paid to Irish affiliate treated as royalties paid to U.S. parent.
February 27, 2024
News
Australia: Rental bond data matching program updated
The Australian Taxation Office issued a statement that its rental bond data matching protocol has been updated.
February 27, 2024
News
Malaysia: Expansion of services subject to service tax
Service Tax Regulations effective 26 February 2024
February 26, 2024
News
New Zealand: No adoption of Amount B
New Zealand will not adopt the OECD’s approach to in-country baseline marketing and distribution activities under Amount B
February 22, 2024
News
Australia: First list of companies receiving failure to comply notices under payment times reporting law
Taxpayers that received “failure to comply” notices under the Payment Times Reporting Act 2020
February 22, 2024
News
Australia: Ruling on technology-based platform to ascertain fuel use for purposes of fuel tax credit
Australian Taxation Office released Product Ruling 2024/1
February 21, 2024
News
Australia: Additional minerals exploration credits for small companies for 2024-2025
Regulations provide an additional A$4.77 million to the annual exploration cap
February 21, 2024
News
Australia: “Top hatting” transaction did not qualify for basis step up (Federal Court decision)
The shares did not have an independent or separate value from the interests in the previously "stapled" entities.
February 21, 2024
News
Singapore: Tax measures in budget 2024 include Pillar Two global minimum tax rules
Proposals implementing Pillar Two global minimum tax rules for financial years starting 1 January 2025
February 20, 2024
News
India: Computer airline reservation system located in U.S. did not create permanent establishment in India
U.S. taxpayer providing airline ticket booking through its computer reservation system located in the United States did not have a fixed place PE
February 20, 2024
News
Malaysia: Updated e-invoicing guidelines, software development kit
The Inland Revenue Board issued an updated e-invoice guideline and e-invoice specific guideline.
February 16, 2024
News
Malaysia: Final guide on transitional rules for service tax rate change on foreign digital services
Final guide on transitional rules for change in service tax rate on digital services provided by foreign registered persons
February 16, 2024
News
Australia: Individual income tax and medicare levy bills pass House
Cost of living tax cuts and medicare levy bills pass House of Representatives
February 16, 2024
News
India: Constitutionality of anti-profiteering provisions under GST upheld (High Court decision)
A special leave petition against the decision has been filed before the Supreme Court.
February 16, 2024
News
India: Sales proceeds in escrow account not includable in capital gains (tribunal decision)
To the extent proceeds are ultimately actually received by the taxpayer, they would be subject to tax.
February 16, 2024
News
Vietnam: New telecommunications law
Provisions regarding the payment of fees for registering or maintaining the use of network numbers
February 15, 2024
News
Australia: Guidance on income tax treatment of registered emissions units
A guide on its income tax treatment of registered emissions units
February 15, 2024
News
Saudi Arabia: Tax treatment of software payments
Guidelines to provide clarity on various agreements involving software and databases
February 14, 2024
News
Australia: Foreign investment fees bills pass House
Legislation to clarify any uncertainty associated with interaction between foreign investment fees and similar state and territory property taxes
February 14, 2024
News
Philippines: Recent direct and indirect tax developments
Reports on recent tax-related developments
February 13, 2024
News
Sri Lanka: Clarification of “resident person” for tax purposes
Notice giving clarity as to who is considered a “resident person” for purposes of tax in Sri Lanka
February 12, 2024
News
Bahrain: Cabinet approves signing of income tax treaty with UAE
Cabinet approves draft income tax treaty to prevent tax evasion and avoidance between Bahrain and UAE
February 12, 2024
News
Australia: Revised draft legislation implementing public country-by-country reporting
Latest draft takes into consideration stakeholder feedback from the April draft legislation
February 12, 2024
News
Australia: Guidance on LIFO method for securities holding period requirement
Guide on applying “last-in first-out” method to determine which shares or interests in shares are subject to testing for holding period requirement
February 12, 2024
News
Philippines: Tax on e-commerce transactions
Regulations issued to impose a withholding tax on gross remittances made by e-marketplace operators and digital financial service providers
February 9, 2024
News
Malaysia: Draft guides on transitional rules for service tax rate change, logistics services
Reports on draft guides issued by the Royal Malaysian Customs Department
February 8, 2024
News
Singapore: Reminder that deadline for CRS registration is 31 March 2024
Deadline for CRS registration of an entity that became a reporting Singapore financial institution is 31 March 2024
February 8, 2024
News
Hong Kong: Comprehensive double taxation agreement with Croatia signed
Hong Kong and Croatia signed a comprehensive double taxation agreement
February 8, 2024
News
Malaysia: Summary of income and indirect tax developments (February 2024)
Income tax, indirect tax, and electronic invoicing
February 7, 2024
News
New Zealand: Guidance on proposed 39% trust tax rate
Inland Revenue released guidance on how it may view certain transactions and restructures that may be affected by proposed 39% trust tax rate
February 7, 2024
News
Australia: Individual income tax, medicare levy, and foreign investment fee bills introduced in Parliament
A number of tax-related legislation have been introduced in Parliament
February 7, 2024
News
Pakistan: Guidance regarding electronic transmission of sales tax invoices
The tax authority issued guidance regarding electronic transmission of sales tax invoices.
February 6, 2024
News
Australia: Senate Committee report on interest limitation / thin capitalisation rules bill
Senate Committee recommended amendments to legislation containing new interest limitation /thin capitalisation rules be agreed to and passed
February 6, 2024
News
Australia: Consultation on proposed changes to “producer and location tax offset”
Treasury released for consultation exposure draft legislation on changes to “producer and location tax offset”
February 6, 2024
News
Japan: Outline of 2024 tax reform proposals
The ruling governing coalition agreed to an outline of tax reform proposals for 2024.
February 5, 2024
News
Japan: Additional guidance on income inclusion rule
The National Tax Agency released guidance in the form of Q&As on income inclusion rule
February 5, 2024
News
Vietnam: New land law effective 2025
National Assembly on 18 January 2024 passed the new land law
February 5, 2024
News
Australia: Proposed retroactive adoption of updated OECD transfer pricing guidance
Draft legislation and supporting explanatory materials would retroactively update transfer pricing laws
February 2, 2024
News
India: Tax measures in interim budget 2024
The Finance Minister presented the Interim Union Budget 2024.
February 2, 2024
News
Indonesia: New regulations for transfer pricing documentation, MAPs, APAs
The new regulations are comprehensive and covers a number of regulations previously issued by various regulating bodies.
February 2, 2024
News
Cambodia: Real estate taxes relief, procedures for online amendment of monthly tax declarations
The General Department of Taxation issued guidance on real estate taxes relief and procedures for online amendment of monthly tax declarations.
February 1, 2024
News
Cambodia: Approved treaty benefits effective for full calendar year
The General Department of Taxation issued instruction clarifying validity of benefits under income tax treaties
February 1, 2024
News
Indonesia: New policy for Article 21 withholding tax
Regulation No. 58 year 2023 introduced an “average effective rate” for Article 21 withholding tax rate
February 1, 2024
News
Australia: Guide on details of R&D tax transparency reports
What and when R&D information will be published, common errors, and how to make amendments
January 31, 2024
News
India: Capital loss arising from cancellation of shares is allowable to shareholders even if no consideration is paid
Mumbai bench of the Tribunal decision
January 30, 2024
News
Australia: Guide on hybrid mismatch rules; new case studies on offshore tax evasion
Hybrid mismatch rules largely follow the OECD hybrid mismatch and branch mismatch rules from Action 2
January 29, 2024
News
Philippines: Reduction in accounts receivable did not result in VAT deficiency (Court of Tax Appeals decision)
A Court of Tax Appeals decision concerning whether a reduction in accounts receivable results in a VAT deficiency
January 26, 2024
News
Malaysia: Exemptions from new capital gains tax for unit trusts
The exemptions will be given for specified exemption periods.
January 26, 2024
News
Singapore: Updated CRS e-Tax Guide
Third edition of common reporting standard (CRS) e-Tax Guide
January 25, 2024
News
Malaysia: Transitional rules for proposed increase in service tax rate
The transitional rules are proposals and still under review by the Minister of Finance.
January 24, 2024
News
Vietnam: Draft legislation on VAT
Scheduled to be proposed to the National Assembly in May 2024
January 24, 2024
News
Australia: Updated guide on principal place of residence land tax exemption (New South Wales)
The tax authority updated its guide on applying for a principal place of residence land tax exemption.
January 24, 2024
News
Hong Kong: Tax deduction for spectrum utilization fees for telecommunication industry
Legislation introducing a new tax deduction for spectrum utilization fees was gazetted and became effective on 19 January 2024.
January 23, 2024
News
Philippines: Year-end tax compliance reminders
Year-end tax compliance requirements with the Bureau of Internal Revenue
January 22, 2024
News
Australia: Practical compliance guideline on intangibles arrangements
The Australian Taxation Office finalized its practical compliance guideline with respect to intangibles arrangements.
January 22, 2024
News
Korea: Sales support services subject to zero rate of VAT (Tax Tribunal decision)
Sales support services constituted business support services subject to zero rate of value added tax
January 22, 2024
News
UAE: Corporate tax guide on tax groups
Eligibility, formation, tax compliance, and how a tax group's taxable income is determined on a consolidated basis
January 18, 2024
News
Australia: Consultation on petroleum resource rent tax (PRRT) tolling arrangement and anti-avoidance rules amendments
Consultation on the draft documents will close on 9 February 2024.
January 18, 2024
News
Australia: Updated draft tax ruling on royalties, software
TR 2024/D1 focuses on the electronic distribution of software, including cloud and subscription-based distribution models
January 18, 2024
News
India: Reassessment proceedings inapplicable to capital account transaction (High Court decision)
Transaction did not give rise to any income
January 17, 2024
News
Japan: Updated CRS FAQs on AEOI reporting system
Common reporting standard (CRS) “frequently asked questions”
January 17, 2024
News
UAE: Corporate tax guide on taxation of extractive businesses and non-extractive natural resources businesses
Corporate tax guide providing guidance and examples
January 16, 2024
News
Malaysia: Proposed increase in service tax rate and expansion of taxable services effective 1 March 2024
Proposals to increase the service tax rate to 8% and expand the scope of service tax
January 16, 2024
News
Vietnam: Draft decree on establishment, management, and use of investment support fund
The government published a draft decree to support, encourage and attract strategic investments in certain priority sectors.
January 12, 2024
News
Philippines: New law includes income tax, business tax, and VAT measures
Ease of Paying Taxes (EOPT) Act signed into law by the president
January 11, 2024
News
Malaysia: Summary of income and indirect tax developments (January 2024)
Indirect tax legislation updates
January 11, 2024
News
Korea: Amendments to Pillar Two rules enacted
The National Assembly passed the 2023 tax reform proposal, which includes amendments to the Korean Pillar Two global minimum tax rules.
January 11, 2024
News
Cambodia: Tax, accounting, labor, and regulatory compliance reminders for 2023-2024
Deadlines for tax compliance obligations in Cambodia for the first six months of 2024
January 10, 2024
News
Sri Lanka: Amendment to Social Security Contribution Levy Bill
The Minister of Finance, Economic Stabilization and National Policies issued a bill amending the Social Security Contribution Levy Act
January 8, 2024
News
Saudi Arabia: Guidance on resident natural persons subject to income tax
ZATCA tax bulletin
January 5, 2024
News
India: Guidelines for withholding tax on e-commerce transactions
Central Board of Direct Taxes (CBDT) guidelines under section 194-O in the Income-tax Act 1961
January 5, 2024
News
Qatar: Extended deadline for country-by-country reports and notifications
Extended deadline is 31 January 2024
January 4, 2024
News
Vietnam: Reduced VAT through June 2024
Decree 94/2023 is effective from 1 January 2024
January 4, 2024
News
Malaysia: Guidance on sales tax exemptions for manufacturing aids and cleanroom equipment
Sales tax exemptions effective 1 January 2024
January 4, 2024
News
Malaysia: Direct and indirect tax changes in Finance Act (No. 2) 2023
Finance (No. 2) Act 2023 gazetted on 29 December 2023
January 2, 2024
News
Malaysia: New indirect tax guidance effective 1 January 2024
Indirect Tax (Amendment) Regulations and Indirect Tax New and Amendment Orders
January 2, 2024
News
Hong Kong: Consultation paper on implementation of Pillar Two global minimum tax
Income inclusion rule (IIR), undertaxed profits rule (UTPR), and domestic minimum top-up tax (DMTT)
January 2, 2024
Stay connected
Please provide us with some basic information to help us get in touch with you.