Saturday, August 08, 2026
China’s Ministry of Finance and the State Taxation Administration have jointly issued Announcement No. 22 of 2026 revising the urban land use tax policy on 27 July 2026, phasing out longstanding tax exemptions previously available to energy generation, mining, and oil and gas enterprises under regulations issued between 1989 and 2015. Transition period locks in...
The US Senate moved forward on a bipartisan Russia sanctions bill with an 86-12 procedural vote, handing President Donald Trump the authority to impose tariffs reaching up to 100% on the five largest buyers of Russian oil and gas. India ranks second globally in Russian crude purchases, alongside China, the Slovak Republic, Hungary, and Azerbaijan...
The Inland Revenue Authority of Singapore (IRAS) has revised its guidance on Applying for a Certificate of Residence/ Tax Reclaim Form. The update provides clearer guidance on the conditions that foreign-owned investment holding companies must satisfy to demonstrate that they have valid reasons for establishing operations in Singapore. The updated section of the guidance states...
The State Bank of Pakistan (SBP) announced on Monday, 27 July 2026, that its policy rate will remain unchanged at 11.5%, with the Monetary Policy Committee (MPC) concluding that the current monetary policy stance remains appropriate to guide inflation towards the 5-7% target range over the medium term despite risks from the Middle East conflict....
Uruguay’s General Tax Directorate (DGI) has issued Resolution No. 1.517/2026, establishing detailed rules for the collection of tax on foreign income earned by individuals from 1 January 2026 under changes introduced by Law No. 20.446. The resolution published on 30 June 2026, implements provisions contained in Articles 653 and following of Law No. 20.446 of...
Taiwan’s National Taxation Bureau of Kaohsiung has reminded foreign taxpayers to review unclaimed tax treaty benefits following amendments to the Regulations Governing Application of Agreements for the Avoidance of Double Taxation with Respect to Taxes on Income (DTA Audit Rules), which extended the period for applying for refunds of over-withheld tax under Double Taxation Agreements...
Argentina’s Federal Tax Authority (ARCA) has published General Resolution No. 5876 in the Official Gazette on 20 July 2026, which amends General Resolution No. 5851. General Resolution No. 5876 extends the filing deadline for 2025 income tax returns — covering individuals and undivided estates under both the general and Simplified Affidavit regimes — to 27...
The Oman Tax Authority (OTA) has introduced new rules on when certain business expenses can be deducted under the Executive Regulations of the Income Tax Law. The changes were made through Decision No. 180/2026, which inserts a new Article 18 bis into the Executive Regulations of the Income Tax Law for Companies and Institutions. Under...
Taiwan’s Central Area National Taxation Bureau of the Ministry of Finance stated that, under the House and Land Integrated Income Tax 2.0 regime, effective from 1 July 2021, a profit-seeking enterprise that disposes of shares or equity interests in a domestic or foreign profit-seeking enterprise in which it has held more than 50% ownership (directly...
Hong Kong’s Financial Services and the Treasury Bureau (FSTB) and the Inland Revenue Department (IRD) launched a public consultation on 27 July 2026, on proposed enhancements to the tax concession regime for corporate treasury centres (CTCs). In June this year, the Government published the Action Plan to Promote the Development of CTCs in Hong Kong...