Australia: ATO releases updated excise tax guidelines for tobacco sector
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 tobacco industry.
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Singapore introduces refundable investment credit regulations
Singapore enacts Income Tax (Refundable Investment Credits) Regulations 2025, introducing tax credits of up to 50% for qualifying business investments under Pillar 2 rules. Singapore has published the Income Tax (Refundable Investment Credits)
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India: NITI Aayog proposes tax clarity for foreign investors
The working paper recommends that the Ministry of Finance consider the proposed framework for inclusion in future Finance Bills, following consultations with industry, experts, and treaty partners. NITI Aayog’s tax policy group in India has
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Hong Kong, Rwanda sign income tax treaty
The agreement aims to prevent double taxation and foster economic cooperation between the two jurisdictions. Hong Kong and Rwanda signed an income tax treaty on 9 October 2025. The agreement aims to prevent double taxation and foster economic
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Azerbaijan, Oman to establish income tax treaty
Any resulting income tax treaty will be the first between the two nations. Officials from Azerbaijan and Oman convened on 8 October 2025 to explore opportunities for strengthening economic and investment ties, as reported by the Oman News
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Australia: ATO cautions of heavy penalties for global entities delaying TPAR submission
The ATO warns that Significant Global Entities (SGEs) that missed the 28 August TPAR deadline may face penalties for late lodgment. The Australian Taxation Office (ATO) announced on 8 October 2025 that Significant Global Entities (SGEs) may face
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Armenia: President ratifies tax treaty with Japan
Once effective, it will replace the USSR–Japan Income Tax Treaty (1986) in relations between Armenia and Japan. On 3 October 2025, the President of Armenia, Vahagn Khachaturyan, signed a law ratifying the 2024 tax treaty with Japan. The
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Singapore: IRAS updates e-Tax guide on non-taxation of gains from share disposals
IRAS updates e-Tax Guide to expand the non-taxation scheme for share disposal gains from 2026. The Inland Revenue Authority of Singapore (IRAS) issued the updated e-Tax Guide on the Certainty of Non-taxation of Companies’ Gains on Disposal of
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Bangladesh approves US wheat purchase amid trade talks
Bangladesh approves 220,000 tons of US wheat to boost trade ties and diversify supplies. Bangladesh has authorised the purchase of around 220,000 metric tons of wheat from the US under a government-to-government agreement, officials said on 7
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Sri Lanka delays VAT on non-resident digital services
Sri Lanka delays VAT on digital services by non-resident providers to April 2026. The Sri Lankan Inland Revenue Department (IRD) issued a notice on 1 October 2025 regarding the postponement of the effective date of the Imposition of VAT on the
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Kazakhstan: MoF approves new CFC reporting, taxation forms for 2026
Ministry of Finance introduced new forms for reporting and taxing Controlled Foreign Companies, effective 1 January 2026. Kazakhstan’s Ministry of Finance issued Order No. 536 on 25 September 2025, approving new forms for the reporting and
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Kazakhstan approves new rules for taxable income of second-tier banks
The new regulations are designed for calculating second-tier banks’ taxable income, effective 1 January 2026. Kazakhstan’s Ministry of Finance and National Bank have jointly approved new rules for determining taxable income from banking
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New Zealand: Central Bank lowers benchmark interest rate to 2.5%
The central bank lowered its benchmark interest rate by 50 basis points to 2.5%. New Zealand's central bank, the Reserve Bank of New Zealand (RBNZ), announced on 8 October 2025 that it has lowered its benchmark interest rate by 50 basis points
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Singapore: IRAS updates e-Tax guide on variable capital companies
The e-Tax Guide outlines the tax framework applicable to VCCs and is intended for individuals or entities involved in incorporating, registering, or managing a VCC. The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax
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Australia: ATO issues final guidance on guarantees and Division 7A avoidance
The guidance finalises ATO’s guidance and clarifies its view on the application of section 109U to private company arrangements involving guarantees under Division 7A. The Australian Taxation Office (ATO) announced it issued Taxation
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Hong Kong: IRD lowers interest on tax reserve certificates
The new rate will apply to all tax reserve certificates purchased on or after 6 October 2025. The Hong Kong Inland Revenue Department (IRD) announced on 3 October 2025 that starting from 6 October 2025, the new annual rate of interest payable
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Singapore: IRAS updates guidance on foreign tax credit claims
The updated guidance now features a revised eligibility flowchart and provides clearer time limits for claiming a Foreign Tax Credit (FTC). The Inland Revenue Authority of Singapore (IRAS) has released revised guidance on claiming a Foreign Tax
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Australia: Large companies continue to pay record levels of tax
Corporate tax remains high as nil-tax entities decline. The Australian Taxation Office (ATO) has published its annual Corporate tax transparency (CTT) report revealing large corporates paid a combined AUD 95.7 billion in income tax in 2023–24,
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