New tax treaty between India, Qatar enters into force
The treaty became effective upon the exchange of ratification instruments and superseded the 1999 tax treaty between the two countries. India issued Notification No. 154/2025/F on 24 October 2025, signaling that the updated income tax treaty
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Vietnam: MoF introduces revenue-based tax rules for business households
Vietnam replaced the presumptive tax with a self-declaration system for business households. The Vietnamese Ministry of Finance (MoF) has issued Decision No. 3389/QĐ-BTC on 6 October 2025, confirming that the presumptive tax collection
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US: Trump administration signs trade deals on rare-earth and critical minerals with Malaysia, Cambodia, Thailand, Vietnam
The US has signed trade and critical minerals agreements with Malaysia, Cambodia, Thailand, and Vietnam to address trade imbalances and secure alternative rare earth supply chains amid China’s export restrictions. The Trump Administration has
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Malaysia: Customs department amends service tax rules, introduces new exemptions
Malaysia’s Customs Department will implement revised service tax policies with additional exemptions from 1 July 2025, following the Ministry of Finance’s announcement of expanded SST regulations. Malaysia’s Customs Department has revised
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US, China agree on rare earth framework amid Trump’s tariff warning
The US and China reached a preliminary trade deal in Malaysia to avert major tariffs and export restrictions, paving the way for upcoming talks between Trump and Xi on trade balance. US Treasury Secretary Scott Bessent announced on 26 October
See MoreVietnam seeks update tax treaty with Singapore
Vietnam and Singapore officials met on 21 October 2025 to discuss updating the 1994 Income Tax Treaty, aiming to boost investment and strengthen economic ties. Vietnam and Singapore officials met on 21 October 2025 to discuss bilateral
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Iceland, New Zealand sign income tax treaty
This is the first income tax treaty between Iceland and New Zealand. Iceland and New Zealand signed an income tax treaty on 22 October 2025. This development follows after New Zealand’s Ministry of Foreign Affairs and Trade announced that
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Singapore updates guidance on deductible business expenses
IRAS updates business expense guidance, detailing new deductible and non-deductible items and clarifying rules for employee transport reimbursements. The Inland Revenue Authority of Singapore (IRAS) has revised its guidance on business expenses,
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Singapore: IRAS updates GST error correction guidance with new FAQs
IRAS updates GST F7 guidance, clarifying when minor errors need not be corrected. The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on correcting errors in Goods and Services Tax (GST) returns through Form F7, adding six
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Taiwan: Taichung Customs warns public on import compliance, seizes Illegal Christmas plant decorations
Taichung Customs in Taiwan seized banned Christmas decorative plants in express shipments and warned the public about import rules. Taichung Customs, part of the Customs Administration, Ministry of Finance in Taiwan stated that with Christmas
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Indonesia: Central bank maintains key interest rate
Bank Indonesia will continue monitoring the transmission effectiveness of accommodative monetary policy, economic growth, and inflation, as well as rupiah exchange rate stability, to consider further room for BI-Rate reductions. Indonesia’s
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Australia: ATO updates private ruling guidance to address Pillar 2 matters
The update introduces provisions enabling private rulings on Pillar Two interpretative issues and a new “decline to rule” mechanism, reflected in the addition of sections 40A and 40B. The Australian Taxation Office (ATO) has released an
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India, US near deal to slash import tariffs
India and the US near deal to cut tariffs, with energy and agriculture in focus. India and the US are reportedly nearing a trade deal that would cut US tariffs on Indian imports from 50% to about 15–16%. The agreement is expected to focus on
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Vietnam: MoF introduces procedures and forms for Pillar 2 minimum tax compliance
The newly approved administrative procedures and forms go into effect on 21 October 2025. Vietnam’s Ministry of Finance (MoF) issued Decision No. 3563/QD-BTC on 21 October 2025, approving the administrative procedures and related forms under
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Kazakhstan 2026 tax code: A full reset of the country’s approach to corporate taxation
Kazakhstan’s new Tax Code, coming into force on 1 January 2026, is more than a technical rewrite. It’s a full reset of the country’s approach to corporate taxation, profit allocation, and cross-border oversight. Behind the headlines of
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Israel, India sign bilateral investment agreement
This is India's first-ever investment agreement with Israel. Israel and India have signed a new bilateral investment agreement aimed at bolstering economic ties and encouraging mutual investments. The agreement, signed in New Delhi by Israel's
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Hong Kong: IRD issues updated guidance on Pillar 2 e-filing requirements for in-scope group members
This update is particularly significant for Hong Kong's minimum tax framework, as mandatory e-filing will apply to years of assessment starting on or after 1 April 2025. Hong Kong’s Inland Revenue Department has released updated guidelines on
See MoreAustralia: ATO releases updated guidance on transitional CbC safe harbour rules for global and domestic minimum tax
The updated guidance will help taxpayers determine whether the transitional CBC reporting safe harbour applies and how it may simplify their Pillar Two compliance obligations. The Australian Taxation Office (ATO) has released updated Global and
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