Vietnam to expand US imports of machinery, high-tech products, energy resources
Vietnam has signalled plans to increase imports from the US, focusing on machinery, high-technology products, and energy resources, as the two countries conduct the sixth round of negotiations on the Vietnam–US Fair and Balanced Reciprocal Trade
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Singapore: IRAS updates tax computation guidance, introduces new exchange rate tool
The Inland Revenue Authority of Singapore (IRAS) has updated its Preparing a Tax Computation webpage on 2 February 2026, making revisions to Exchange Rate Search Function (XLSX) covering financial years ending 2021 through 2025. A tax computation
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Rwanda ratifies tax treaty with Hong Kong
Rwanda has gazetted the ratification of its income tax treaty with Hong Kong, which was formalised in Law No. 004/2026 on 1 February 2026. The agreement, originally signed on 9 October 2025, sets the framework for cross-border taxation and
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India: Tax Authority appeals high court ruling on treaty limits to dividend tax
The Indian Income Tax Department filed a special leave petition before the Supreme Court on 30 January 2026, challenging a Bombay High Court ruling that held Dividend Distribution Tax (DDT) could be limited by applicable tax treaties. The appeal
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EU, Singapore digital trade agreement enters into force
The digital trade agreement between the European Union and Singapore, signed on 7 May 2025, came into effect on 1 February 2026. The agreement represents a step forward in the EU’s trade policy, supporting competitiveness, strengthening
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Australia: ATO updates guidance on risk indicators for privately owned, high-wealth groups
The Australian Taxation Office (ATO) has released updated guidance on What attracts our attention, outlining the behaviours, characteristics, and tax matters that may draw scrutiny. The guidance highlights a wide range of factors associated with
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Australia: ATO clarifies eligibility for AUD 20,000 instant asset write-off for 2025–26
The Australian Taxation Office (ATO) has published a release outlining eligibility for the AUD 20,000 instant asset write-off for the 2025–26 income year on 3 February 2026. If a business has an aggregated annual turnover of less than $10
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China issues new guidance on VAT deductions
China’s Ministry of Finance and State Taxation Administration has issued Announcement No. 13 of 2026 on 30 January 2026, clarifying rules on the deduction of input value-added tax (VAT). Effective 1 January 2026, the guidance overrides previous
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Bangladesh to sign US tariff agreement ahead of elections
Bangladesh’s interim government will sign a tariff agreement with the US on 9 February 2026, just three days before the national parliamentary election. The delegation, led by commerce adviser Sk Bashir Uddin and commerce secretary Mahbubur
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Australia joins GIR MCAA
The OECD has reported that Australia signed the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA) on 28 January 2026. The agreement is designed to enable the automatic exchange of GloBE Information Returns
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China cuts proposed tariffs on EU dairy products
China has lowered the proposed tariffs on certain European Union dairy imports as it wraps up an anti-subsidy investigation, which many view as a response to EU duties on Chinese electric vehicles. Under the final rates shared with EU
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Australia: ATO announces availability of reportable tax position schedule for 2026
The Australian Taxation Office (ATO) has released the reportable tax position (RTP) schedule and accompanying instructions for the 2026 income year on 29 January 2026. Companies are generally required to lodge an RTP schedule if their total
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US, India agree to trade deal, tariffs on Indian exports lowered to 18%
US President Donald Trump announced in a Truth Social post on 2 February 2026 that a major trade deal had been reached with India. Under the agreement, the US will sharply reduce tariffs on Indian goods. The overall duty on Indian imports, which
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China clarifies VAT taxable sales calculation scope for specific transactions
China’s Ministry of Finance (MoF) and the State Taxation Administration (STA) have issued Announcement No. 12 of 2026 on 30 January 2026, providing detailed clarification on how taxable sales amounts should be calculated for value-added tax (VAT)
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Malaysia introduces tax incentives under new MITI framework
Malaysia’s Ministry of Investment, Trade and Industry (MITI) announced on 29 January 2026 that the government will implement the new incentive framework (NIF), effective 1 March 2026, commencing with the manufacturing sector, followed by the
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Singapore: IRAS revises CRS reportable, participating jurisdictions
The Inland Revenue Authority of Singapore (IRAS) has updated the lists of reportable and participating jurisdictions under the Common Reporting Standard (CRS), the global framework for the automatic exchange of financial account information for tax
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Hong Kong,Turkey income tax treaty comes into force
The income tax treaty between Hong Kong and Turkey entered into force on 30 January 2026. The treaty, signed on 24 September 2024, is the first income tax agreement between the two jurisdictions. It aims to prevent double taxation and promote
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Singapore: IRAS updates e-tax guides on ACAP, GST renewal
The Inland Revenue Authority of Singapore (IRAS) has released two updated e-Tax guides on 30 January 2026: IRAS e-Tax Guide GST: Assisted Compliance Assurance Programme (ACAP) (Fifth Edition) and IRAS e-Tax Guide GST: Renewal of ACAP Status (Sixth
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