Australia: ATO consults draft Public CBC reporting instructions
The Australian Taxation Office announced yesterday, 5 November 2025, that consultations are open on the draft instructions for completing the Public country-by-country (CBC) report. Under the Public CBC reporting rules, certain public and
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Singapore: IRAS classifies subordinated perpetual securities as debt
The Inland Revenue Authority of Singapore released Advance Ruling Summary No. 21/2025 on 3 November 2025, addressing the classification of subordinated perpetual securities as debt and the deductibility of distributions paid on them as
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Taiwan clarifies rules for deductible corporate donations to Mainland China
The Taichung Branch of Taiwan’s National Taxation Bureau (Central Area) under the Ministry of Finance stated that, under Article 79 of the Regulations Governing Assessment of Profit-Seeking Enterprise Income Tax, profit-seeking enterprises must
See MoreAustralia: BoT redesigns Voluntary Tax Transparency Code (VTTC)
The Board of Taxation (BoT) has completed a redesign of the Voluntary Tax Transparency Code (VTTC), which provides principles and minimum standards to guide medium and large businesses in publicly disclosing tax information. The BoT, responsible
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China eases tariffs on select US agricultural products
China announced plans today, 5 October 2025, to suspend some of the retaliatory tariffs it imposed on US imports, following a recent meeting between the leaders of the two nations. Starting 10 November, China will lift duties of up to 15% on
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Kazakhstan: Government scales back SME tax restrictions in partial Tax Code rollback
In late October 2025, the Kazakh government announced a partial rollback of several measures in its new Tax Code, responding to concerns that certain provisions would place an excessive burden on small and medium-sized enterprises (SMEs) and
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Singapore: IRAS issues guidance on foreign entity classification for tax
The Inland Revenue Authority of Singapore (IRAS) has published new guidance on the Classification of Foreign Entities for Singapore Income Tax Purposes on 30 October 2025. There are tax implications connected to the classification of a foreign
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Bangladesh: NBR extends deadline for taxpayers facing online filing issues
The Bangladesh National Board of Revenue (NBR) has extended the deadline for taxpayers unable to file their income tax returns online due to technical or registration issues. In a special order issued on 30 October 2025, NBR Chairman Md. Abdur
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Norway: Cabinet approves tax treaty with China
Norway's Cabinet has approved the new 2025 China-Norway Income Tax Treaty through Bill No. Prop. 6 S (2025–2026) on 31 October 2025. The agreement aims to prevent double taxation on income and curb tax evasion between Norway and China. The
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Australia: Treasury consults on foreign investment framework reforms
Australia’s Treasury has launched a consultation to further streamline and enhance the foreign investment framework reforms on 31 October 2025. These reforms will aim to ensure that Australia remains an attractive destination for global
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Australia: ATO publishes draft guidance for public CbC reporting
The Australian Taxation Office (ATO) has published a draft guidance on how to complete the public Country-by-Country (CbC) report on 31 October 2025. The public CbC reporting rules apply for reporting periods starting on or after 1 July 2024, and
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Taiwan: Tax Authority clarifies no deduction for employee travel input tax
Taiwan’s Taipei National Tax Administration of the Ministry of Finance stated that when a business arranges employee travel to reward staff, the input tax included in the related invoices cannot be declared as a deduction against output tax on 31
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New Zealand: Revenue Minister unveils updated tax and social policy plan
New Zealand’s Revenue Minister Simon Watts unveiled an updated Tax and Social Policy Work Programme aimed at boosting economic growth by enhancing the country’s appeal to investors, skilled professionals, and small businesses on 29 October
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Japan: Tax authorities publish updated corporate tax guide for 2025
Japan’s tax authorities released a detailed guide to corporate tax law and filing procedures on 1 October 2025. The guide explains how to calculate taxable income and outlines different types of taxpayers, including ordinary and public interest
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US: Trump administration releases factsheet on US-China trade deal
The Trump Administration released a fact sheet detailing the trade agreement reached between the US and China on 30 October 2025, on 1 November 2025. This follows the announcement by US Treasury Secretary Scott Bessent on 26 October 2025 that the
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Bangladesh: Central Bank may lower policy rate in January 2026
Bangladesh’s central bank, Bangladesh Bank, has hinted at a potential adjustment to its policy rate in the upcoming monetary policy, which is anticipated for January 2026, following a meeting with the visiting IMF Fifth Review Mission on 30
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Vietnam: MoF releases pillar 2 tax procedures, forms
Vietnam’s Ministry of Finance has issued Decision 3563/QD-BTC introducing new tax administrative procedures and forms on 21 October 2025, under the management of the Tax Management Department of Large Enterprises, in line with Decree
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India: CBDT extends income tax returns, audit report deadlines for AY 2025-26
The Central Board of Direct Taxes (CBDT), operating under the Government of India's Ministry of Finance, Department of Revenue, has announced an extension of deadlines for filing Income Tax Returns (ITRs) and various reports of audit for the
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