Australia: ATO releases official form to revoke thin capitalisation test elections
The form enables eligible entities to revoke a previously made thin capitalisation test choice, including the group ratio or third-party debt tests. The Australian Taxation Office (ATO) released the official form for revoking thin capitalisation
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Indonesia: Central bank again cuts interest rate to 4.75%
Bank Indonesia (BI) previously cut its benchmark interest rate by 25 basis points to 5.00% on 20 August 2025. Indonesia's central bank, Bank Indonesia (BI), has announced its sixth interest rate cut since starting its easing cycle in September
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Hong Kong: HKMA cuts interest rate to 4.50%
The Hong Kong Monetary Authority (HKMA) cut its base rate by 25 basis points to 4.50%, following the US Federal Reserve’s move. Hong Kong's central bank, the Hong Kong Monetary Authority (HKMA), has reduced its base interest rate by 25 basis
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Sri Lanka: IRD issued notice on ATPS tax credit verification
IRD urged taxpayers to check 2020–21 ATPS credits. The Sri Lankan Inland Revenue Department (IRD) issued a Notice No. PN/PYMT/2025-01 on 10 September 2025, called on taxpayers to verify tax credits linked to payments made under the
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Azerbaijan, Kazakhstan to hold next round of tax treaty talks
The proposed treaty, once finalised, signed, and ratified, will replace the existing tax agreement between Azerbaijan and Kazakhstan, which has been in effect since 1996. The Azerbaijan State Tax Service announced that officials from
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Hong Kong: Government introduces regulatory framework for basketball betting
The new basketball betting legislation is based on the existing system for football betting and takes effect upon publication in the official gazette. The Hong Kong SAR (HKSAR) government enacted the Betting Duty (Amendment) Bill 2025 on 11
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Korea (Rep.): National Assembly proposes longer carryforward period for unused tech investment credits
The National Assembly is reviewing a bill to extend investment tax credit carryforwards from 10 to 20 years, effective retroactively from 2026. The Korean National Assembly is considering Bill No. 2212902 which proposes extending the
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Australia: Treasury consults draft rules for critical minerals production tax incentive
The consultation ends on 10 October 2025. Australia’s Treasury has initiated a public consultation on draft regulations aimed at clarifying elements of the Critical Minerals Production Tax Incentive (CMPTI). The Income Tax Assessment (1997
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Armenia: Parliament approves new tax treaty with Japan
The new tax treaty will replace the existing 1986 tax treaty between Japan and the former Soviet Union. Armenia’s parliament approved the ratification of a new income tax treaty with Japan on 11 September 2025. The treaty can be ratified
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Brazil: National Congress ratifies tax treaty protocol with India
This protocol is the second modification to the 1988 Brazil-India tax treaty. Brazil’s National Congress has ratified the amending protocol to its 1988 tax treaty with India through Legislative Decree No. 200, which was issued on 11 September
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Vietnam joins global forum’s Asia initiative as 18th member
Vietnam becomes the 18th member, endorsing the Bali Declaration to strengthen tax transparency and resource mobilisation. Vietnam became the 18th member of the Asia Initiative by endorsing the Bali Declaration, a call to enhance the use of tax
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Korea (Rep.): National Assembly reviews proposal to amend international tax adjustment Act
The National Assembly is reviewing a bill to update rules under the International Tax Adjustment Act. The Korea (Rep.) National Assembly has accepted Bill No. 2212654 for review on 3 September 2025, aiming to partially amend the International Tax
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Taiwan excludes unrealised foreign exchange gains from corporate tax
Unrealised foreign exchange gains and losses are excluded from Taiwan’s corporate income tax Taiwan’s Ministry of Finance announced on 12 September 2025 that unrealised foreign exchange gains and losses should not be included in the annual
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Brazil: Senate approves tax treaty protocol with India
This protocol is the second modification to the 1988 Brazil-India tax treaty. Brazil’s Senate (the Upper House of the National Congress) gave its approval to ratify a protocol amending the 1988 tax treaty with India on 10 September
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Australia: ATO proposes updated GST rules for copyright holders, digital media products
The draft determinations refine GST rules, introducing specific attribution rules for copyright transactions via collecting societies and updating intermediary arrangements for multimedia products, replacing the expiring 2015 version. The
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Thailand: Cabinet extends 7% VAT rate until September 2026
Normally, the VAT rate is 10% in Thailand, but it was reduced to 7% as part of economic measures after the 1997 financial crisis. The Thai Cabinet has extended the reduced VAT rate of 7% until 30 September 2026. This announcement was made by
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Australia: ATO announces GIC, SIC rates for Q2 2025-26
From 1 October 2025, the GIC annual rate will be 10.61%, and the SIC annual rate will be 6.61%. The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the second
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Australia: Treasury consults on amendments to PPRT
The deadline for submitting feedback is 3 October 2025. Australia’s Treasury has issued a draft legislation for consultation under the Treasury Laws Amendment Bill 2025 to implement one of the key recommendations from the government’s 2017
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