Taiwan removes minimum tax threshold for estate, gift tax instalment payments
Taiwan has removed the minimum tax amount required to apply for payment by instalments under its Estate and Gift Tax Act, the Southern Area National Taxation Bureau of the Ministry of Finance said. The amendment to Article 30, Paragraph 2 of the
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Taiwan reminds online content creators to review business tax obligations
Taiwan’s National Taxation Bureau of the Central Area, under the Ministry of Finance, said the penalty-exemption period for content creators ended on 30 June 2026. The period applied to the guidance on taxation registration and the filing and
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Taiwan reminds businesses to declare overseas investment income
Taiwan’s National Taxation Bureau of the Northern Area (NTBNA), Ministry of Finance (MOF), has reminded profit-seeking enterprises to include overseas income from offshore financial investments in their taxable income. Under Paragraph 2, Article 3
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Australia: ATO extends GIC remission offer for family trust tax liabilities
The Australian Taxation Office (ATO) announced on 19 October 2026 that it has extended its offer to remit general interest charge (GIC) on family trust distribution tax (FTDT) liabilities. The offer now runs until 30 June 2027, six months longer
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Singapore updates business expense deduction guidance, clarifies rules for Green Certificates, Green Credits
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on business expense deductions, clarifying new rules for Green Certificates and Green Credits (GCCs). The previous guidance on carbon credits has been removed, as their tax
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Norway, Thailand sign new income tax treaty
Norway and Thailand have signed a new income tax treaty during the 2026 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in Bangkok on 15 October 2026. The treaty aims to eliminate double taxation on income and
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Philippines: BIR clarifies tax deductions for shared senior drug discounts
The Philippines Bureau of Internal Revenue (BIR) has updated its tax rules on senior citizen discounts for the first time since 2010. The changes explain how pharmaceutical companies, distributors, and retailers can claim tax deductions when they
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Malaysia updates guidelines on tax treatment of foreign capital gains
The Inland Revenue Board of Malaysia (IRBM) has issued amended technical guidelines dated 29 September 2026 on the tax treatment of gains from the disposal of foreign capital assets received in Malaysia. Prior to 1 January 2024, gains from the
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Hong Kong moves to widen tax deductions for intellectual property purchases
Hong Kong’s government has published the Inland Revenue (Amendment) (Tax Deductions for Intellectual Property Expenditure) Bill 2026 on 16 October 2026, relaxing tax deduction arrangements for capital expenditure that businesses incur on buying
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Australia tables further amendments to CGT reforms
Australia’s government introduced the Treasury Laws Amendment (Tax Reform No. 3) Bill 2026 to Parliament on 14 October 2026, proposing further amendments to the capital gains tax (CGT) reforms, clarifying their application to investment trusts,
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EU, China agree to advance tariff talks and stabilise trade relations
The European Commission issued a joint statement following the second EU-China Trade and Investment Consultations, which aim to stabilise bilateral trade and promote a more balanced economic relationship. The statement was published on 9 October
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Australia tables draft legislation imposing 30% minimum tax on discretionary trusts
The Australian Government introduced the Treasury Laws Amendment (Tax Reform No. 3) Bill 2026 and the Income Tax Rates Amendment (Minimum Tax on Discretionary Trusts) Bill 2026 to the House of Representatives on 14 October 2026. The proposed
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Singapore: IRAS issues ruling on property disposal gains
Singapore’s Inland Revenue Authority of Singapore (IRAS) issued Advance Ruling Summary No. 18/2026 on 1 October 2026, addressing the tax treatment of gains arising from the transfer of long-term strategic investment properties to related companies
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Taiwan clarifies deduction limits for overseas property losses
Taiwan’s National Taxation Bureau of the Southern Area, under the Ministry of Finance has clarified that individuals cannot carry forward losses from overseas property transactions to subsequent taxable years when calculating their basic income
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India raises petrol export duty, cuts diesel levy amid oil price volatility
India has raised the export duty on petrol to INR 2.5 per litre from INR 0.5 and cut the duty on diesel to INR 8.5 per litre from INR 16, according to a finance ministry notification. The revised rates took effect today, 16 October 2026. The export
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Sri Lanka: IRD issues reminders on September 2026 VAT, financial services VAT deadlines
Sri Lanka’s Inland Revenue Department (IRD) has issued two notices reminding taxpayers of the deadlines for paying VAT and VAT on financial services and for filing the VAT return for September 2026. VAT payment and return In the first
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Bangladesh: NBR extends deadline for July-September 2026 VAT returns
Bangladesh’s National Board of Revenue (NBR) on Thursday, 15 October 2026, extended the deadline for online VAT returns for the July-September 2026 tax periods to 25 October 2026, with no interest or fines. Institutions that have not yet filed
See MoreTaiwan allows tax-free release and import of electric vehicles under new procedure
Taiwan’s Ministry of Finance (MoF) amended Articles 54-1, 54-2 and 59-1 of the Regulations Governing the Collection of Commodity Tax on 18 August 2026. According to the Southern Region National Taxation Bureau, Ministry of Finance, the amendments
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