Sri Lanka abolishes land lease tax (LTT) for foreign buyers
Sri Lanka’s government has scrapped the land lease tax (LLT) that foreign buyers once paid on long leases. Foreigners still cannot buy land outright under the Land (Restrictions on Alienation) Act, so a lease of up to 99 years remains the only
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EU, Vietnam to sign free trade agreement
The European Free Trade Association (EFTA) and Vietnam will sign a comprehensive free trade agreement today, 15 October 2026, in Hanoi, Vietnam. The deal brings close to negotiations that began in 2012 and finally concluded in July this year.
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Taiwan exempts virtual asset sales from business tax
Taiwan’s Southern Region National Taxation Bureau clarified, on 14 October 2026, that business entities selling virtual assets, including Bitcoin and Ether, and stablecoins are exempt from business tax. The exemption applies to assets defined
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Hong Kong approves tax treaties with Barbados, Jordan, Kyrgyzstan, Maldives, Norway, Rwanda
Hong Kong’s Chief Executive in Council approved six Orders on 6 October 2026 to put into effect Comprehensive Avoidance of Double Taxation Agreements (CDTAs) with Barbados, Jordan, Kyrgyzstan, Maldives, Norway and Rwanda, according to a press
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Australia: ATO extends 2025 public CbC reporting deadline
The Australian Taxation Office (ATO) announced, on 15 October 2026, that large corporations reporting tax information for 2025 now have until 29 January 2027 to publish their public country-by-country reports. The ATO initially set the deadline
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Sri Lanka: IRD reminds 2025/2026 corporate, individual taxpayers to file returns
Sri Lanka’s Inland Revenue Department (IRD) has reminded individual and corporate taxpayers that income tax returns for the Year of Assessment 2025/2026 must be submitted by 30 November 2026. The department called on all those obliged to file
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Singapore updates Pillar Two guidance outlining Side-by-Side package rules
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance page on the Global Anti-Base Erosion (GloBE) Rules and the Domestic Top-up Tax (DTT) to include the substance-based tax Incentive Safe Harbour. The safe harbour belongs to the
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Slovak Republic, Thailand move to finalise income tax treaty
The Slovak Republic and Thailand agreed to accelerate negotiations on an income tax treaty during high-level talks on 12 October 2026, according to a release from the Slovak Republic Ministry of Foreign and European Affairs, Foreign Affairs
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New Zealand: IRD seeks comment on draft guidance for low-value asset deductions
New Zealand’s Inland Revenue has published a draft interpretation statement, Income tax – Depreciation of low-value assets (PUB00533) for public consultation on 9 October 2026. The statement explains section EE 38 of the Income Tax Act 2007,
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India: GST Council raises prosecution threshold, cuts penalties
India’s Goods and Services Tax (GST) Council approved changes to GST enforcement rules on 8 October 2026, removing the power of arrest for GST offences, raising the prosecution threshold and reducing the general penalty. The measures aim to
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Uzbekistan: TIFC launches special tax zone with 50-year incentive programme
Uzbekistan's Constitutional Law on the Tashkent International Financial Centre (TIFC), enacted on 13 July 2026, created a dedicated financial hub with tailored tax and regulatory treatment. The new framework operates under its own legislation rather
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Malaysia updates small value asset capital allowance rules
Malaysia’s Inland Revenue Board (IRBM) has published Public Ruling No. 4/2026 on 30 September 2026, providing updated guidance on special capital allowances that allow a 100% write-off for small-value assets. Replacing the previous PR No.
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Azerbaijan, Cambodia sign income tax treaty
Azerbaijan and Cambodia signed an income tax treaty on 12 October 2026, according to a release from the Press Service of the President of Azerbaijan. The treaty aims to eliminate double taxation on income and prevent tax evasion. Both countries
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China cuts export tax rebate for electric vehicles to 9% starting April 2027
China's Ministry of Finance and State Taxation Administration announced on 13 October 2026 that the country will reduce export tax rebates for new energy vehicles. The rebate will drop to 9% from the current 13%, effective from April 2027. The
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Thailand issues rules for rooftop solar tax exemption for households
Thailand’s Revenue Department has issued Notification of the Director-General of the Revenue Department on Income Tax (No. 470), setting the rules, procedures and conditions for the exemption. It was announced on 30 September 2026 by
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Taiwan limits deductions for overseas property losses
Taiwan’s National Taxation Bureau of the Southern Area, Ministry of Finance, has clarified that losses from overseas property transactions may be deducted only against income from overseas property transactions in the same taxable year under the
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Singapore adds Antigua and Barbuda to CbC report exchange list
Singapore’s Inland Revenue Authority of Singapore (IRAS) has expanded the list of jurisdictions with which it can automatically exchange CbC Reports to include Antigua and Barbuda. The authority updated its Country-by-Country Reporting guidance
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Thailand introduces 50% tax exemption for energy-saving investments
Thailand’s Revenue Department has issued Notification of the Director-General of the Revenue Department Regarding Income Tax (No. 471), setting out how individuals and companies or juristic partnerships can claim an income tax exemption on
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