Taiwan: MOF issues guidance on R&D investment tax credits eligibility
Companies are encouraged to actively engage in R&D, and the principle should be the establishment of in-house R&D capacity. However, certain outsourced R&D expenses, if necessary and compliant with the regulations, may also qualify for
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Australia: ATO issues final guideline on use of capital for funding franked dividends
The Guideline explains how the ATO assesses and applies compliance resources under section 207-159 of the ITAA 1997 to determine when franking credits on a distribution may be denied. The Australian Taxation Office (ATO) released Practical
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Hong Kong: IRD updates guidance on global minimum and top-up taxes
IRD updated rules on global minimum and top-up taxes, introducing the Pillar 2 Portal and new group registration requirements. Hong Kong’s Inland Revenue Department released an updated guidance on the global minimum tax and Hong Kong’s
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Singapore: IRAS clarifies tax treatment of revaluation gains in company liquidation
IRAS rules revaluation gains on overseas shares in liquidation are not taxable. The Inland Revenue Authority of Singapore (IRAS) has issued Advance Ruling Summary No. 18/2025 on 1 September 2025, addressing the tax treatment of revaluation gains
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Australia: Government moves to cut ‘tax red tape’ to reduce regulatory, compliance burden for businesses
To simplify Australia’s tax system and boost economic productivity, the government has tasked the Board of Taxation with reviewing ways to cut red tape and reduce compliance burdens for businesses. Australia’s Treasurer Jim Chalmers announced
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Kazakhstan: President ratifies IPA with Turkmenistan
Kazakhstan ratifies investment pact with Turkmenistan Kazakhstan’s President has signed a law ratifying the Kazakhstan - Turkmenistan Investment Protection Agreement ( IPA) on 19 September 2025. An investment protection agreement is a treaty
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Singapore: IRAS Advance Ruling clarifies which companies qualify under Section 13O tax incentive
The test assesses if an investor’s share in a fund is small enough to prevent penalties and maintain the fund’s tax-exempt status. The Inland Revenue Authority of Singapore (IRAS) has released Advance Ruling Summary 17/2025 on 1 September
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Australia: ATO issues final guidance for the effective life of assets
The guidance helps determine how much of the asset’s cost taxpayers can claim as a tax deduction each year. The Australian Taxation Office (ATO) has published the final guidance for the effective life of depreciating assets on 23 September
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Brazil completes ratification of tax treaty protocol with Singapore
This protocol is the first amendment to the 2018 Brazil–Singapore income tax treaty. Brazil has issued Legislative Decree No. 203 on 19 September 2025, which marks the ratification of the protocol to its 2018 income tax treaty with
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Brazil, India tax treaty protocol enters into force
This protocol to the tax treaty will enter into force on 18 October 2025. The amending protocol to the tax treaty between Brazil and India (1988), as amended by the 2013 protocol, will enter into force on 18 October 2025. This protocol,
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Indonesia, EU conclude free trade agreement to counter US tariffs
Nearly ten years of negotiations between the EU and Indonesia were accelerated by the threat of former US President Donald Trump’s aggressive tariff measures, resulting in a free trade deal that will eliminate most tariffs between the two
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Sri Lanka updates Colombo Port City investment incentives
Sri Lanka updated Colombo Port City SEZ incentives, which include reduced tax holidays and increased investment thresholds. Sri Lanka has issued new regulations for the Colombo Port City Special Economic Zone (SEZ), reducing tax holidays and
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Kazakhstan: MOF updates CFC preferential tax jurisdictions list
Kazakhstan approved a 56-country CFC preferential tax list, effective from 1 January 2026. Kazakhstan’s Ministry of Finance (MOF) approved Order No. 492 of 12 September 2025, updating the list of countries and territories with preferential
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India: CBDT further extends income tax returns (ITRs) deadline for AY 2025–26
The filing deadline has been further extended by one day. India’s Central Board of Direct Taxes (CBDT) has announced another extension for filing Income Tax Returns (ITRs) for the Assessment Year 2025-26. Initially, the deadline was set
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Sri Lanka becomes member of global forum on tax transparency, information exchange
As a new Global Forum member, Sri Lanka will benefit from the induction programme, a comprehensive multi-year capacity-building programme aimed at helping new members implement and benefit from the above-mentioned standards. The OECD announced
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Hong Kong: Chief Executive delivers 2025 policy address, includes tax incentives for strategic industries, and digital investments
The Hong Kong government plans to introduce legislative changes in early 2026 to enhance preferential tax regimes and attract more funds, family offices, and carried interest, reinforcing its role as a global financial hub. Hong Kong’s Chief
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Uzbekistan: Parliament considers proposal to implement Islamic banking
The draft law will provide a legal framework for Islamic banking in Uzbekistan, enabling the establishment of Islamic banks and windows, curbing the hidden economy, and attracting foreign investment in line with international Islamic finance
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Brazil: Senate approves tax treaty protocol with Singapore
Signed on 17 April 2023, this is the first update to the 2018 Brazil - Singapore income tax treaty. Brazil’s Senate has approved the amending protocol to the 2018 Brazil - Singapore income tax treaty through Draft Legislative Decree No.
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