Singapore: Parliament reviews Finance (Income Tax) Bill 2025, includes new corporate tax relief measures
This legislation proposes numerous amendments to the Income Tax Act (ITA) and the Multinational Enterprise (Minimum Tax) Act (MMTA). Singapore's Parliament is reviewing the Finance (Income Taxes) Bill 2025, which had its first reading on 14
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India considers easing imports on Chinese raw materials
India’s Commerce Ministry and NITI Aayog considered relaxing certain tariff and non-tariff restrictions on Chinese imports to secure cheaper raw materials and support industrial growth. India’s Ministry of Commerce and Industry, supported by
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Singapore: Tax Authority issues e-tax guide on submission of income information by commission-paying organisations
IRAS issued SEP income reporting guide, effective from YA 2024. The Inland Revenue Authority of Singapore (IRAS) issued a new e-Tax Guide, Submission of Income Information by Commission-Paying Organisations, on 17 October 2025. The guide
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US: Trump pledges to keep ‘massive’ tariffs on India until Russian oil imports stop
Trump said Modi had assured him India would stop buying Russian oil, warning New Delhi it would face “massive” US tariffs if it did not comply. US President Donald Trump said on Sunday, 19 October 2025 that Indian Prime Minister Narendra
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Australia, Ukraine sign income tax treaty
The treaty establishes the first bilateral agreement between Australia and Ukraine and aims to eliminate double taxation on income, capital, fringe benefits, and withholding tax while preventing tax evasion or avoidance. Australia and Ukraine
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Australia: Victoria government presents Omnibus state tax bill to parliament, seeks to refine existing frameworks for property taxes
The bill proposed various changes, including adjustments to the Commercial and Industrial Property Tax Reform Act 2024, refining the criteria for transactions eligible under the commercial and industrial property tax scheme. The Victorian
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Taiwan clarifies calculation of deductible foreign tax credits
Ministry of Finance clarified how businesses could calculate deductible foreign tax credits on income earned at home and abroad. Taiwan’s Ministry of Finance released guidance on 14 October 2025 on properly calculating deductible foreign tax
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Singapore: IRAS reminds companies to file 2025 CIT ahead of November deadline
IRAS reminded companies of their YA 2025 Corporate Income Tax filing obligations, outlining penalties for late submissions and available support resources. The Inland Revenue Authority of Singapore (IRAS) issued a notice on 16 October 2025
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Kazakhstan: MOF updates list of countries with active double taxation treaties
MOF approved a new list of 40 international tax treaty partners whose nominal profit tax rate exceeded 75 percent of the national corporate income tax, scheduled to take effect on 1 January 2026. Kazakhstan’s Ministry of Finance (MOF) issued
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Pakistan: FBR extends 2025 income tax return deadline
FBR extended the Tax Year 2025 corporate income tax return filing deadline to 31 October 2025, after earlier pushing it to 15 October. Pakistan’s Federal Board of Revenue (FBR) announced on 15 October 2025, that the deadline for filing of
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Italy to impose duty on Chinese fast-fashion imports to safeguard domestic industry
Italy plans a new tax on Chinese fast fashion imports, targeting online retailers like Shein and Temu, to protect its domestic fashion industry from low-cost competition. Italy is planning to introduce an additional tax on Chinese fast fashion
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US delays enforcement of tariff on Singaporean pharmaceutical exports
The US has delayed its planned 100% tariff on Singaporean drug exports, allowing local pharmaceutical firms to seek exemptions. The US has postponed the implementation of a 100% tariff on branded drugs exported from Singapore, initially set to
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Kyrgyzstan, Japan agree in principle on new income tax treaty
Kyrgyzstan and Japan agreed in principle on a new income tax treaty to prevent double taxation and boost cooperation. Kyrgyzstan and Japan have reached an agreement in principle on a new income tax treaty following talks in Bishkek from 6 to 9
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Kazakhstan: NBK raises base interest rate
The rate is used to calculate late payment interest on overdue taxes. The National Bank of Kazakhstan (NBK) raised its base interest rate from 16.5% to 18.0%, effective from yesterday, 13 October 2025. The rate is used to calculate late payment
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Australia: ATO updates monthly foreign exchange rates for the 2025–26 income year
The ATO has updated its foreign exchange rate guidance, including monthly exchange rates for 1 July 2025 to 30 June 2026, which covers the rates for September 2025. The Australian Taxation Office (ATO) has updated its foreign exchange rate
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Japan updates guidance on global minimum tax
NTA updated its guidance on global minimum tax rules, clarifying calculations and key definitions. Japan's National Tax Agency (NTA) released a revised version of its interpretative guidance on global minimum tax rules on 26 September
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Malaysia presents 2026 Budget, extends R&D incentives
The 2026 income tax measures introduce new taxes, extended exemptions, and expanded incentives across sectors covering LLP profit distributions, foreign-sourced income, MSME listings, social enterprises, sustainable finance, carbon emissions,
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Australia: ATO releases updated excise tax guidelines for duty-free shops
The revised guidelines align with recent legislative reforms introduced to simplify and modernise the overall excise administration process. The Australian Taxation Office (ATO) has updated its excise tax guidelines for the duty-free shops. These
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