Croatia ratifies income tax treaty with New Zealand
Croatia’s President promulgated the law ratifying the Croatia–New Zealand Income Tax Treaty (2025), as published in the Official Gazette (Narodne Novine) No. 4 of 15 May 2026. On 30 April 2026, the Croatian Parliament passed a law for the
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Croatia ratifies income tax treaty with Australia
Croatia has gazetted the law ratifying the income tax treaty with Australia on 15 May 2026. Signed on 24 November 2025, the agreement between the two countries is intended to eliminate double taxation on income and to prevent tax evasion and
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Hong Kong: IRD updates GloBE return exchange framework
The Hong Kong Inland Revenue Department 9IRD) has updated its guidance on the Global minimum tax and Hong Kong minimum top-up tax for multinational enterprise (MNE) groups by adding a new section on the exchange of GloBE Information Returns. The
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Singapore: IRAS revises guidance on refundable investment credits (RIC)
The Inland Revenue Authority of Singapore (IRAS) has revised its guidance on the Refundable Investment Credit (RIC). Earlier, Singapore issued the Income Tax (Refundable Investment Credits) Regulations 2025, which came into force on 1 September
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Australia: ATO announces first public CbC report deadlineÂ
The Australian Taxation Office (ATO) has issued a notice on 15 May 2026, reminding entities with a reporting period ending on 30 June 2025 that the deadline for lodging the public CbC report is 30 June 2026. The ATO is continually updating its
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Pakistan: Court declares Section 7E property tax unconstitutional
The Federal Constitutional Court of Pakistan has struck down Section 7E of the Income Tax Ordinance, 2001, ruling that the controversial tax on deemed rental income is unconstitutional and void from the beginning. In a Short Order issued on 7 May
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Taiwan: Tax bureau sets deadlines for R&D, innovation investment tax credits
Taiwan’s Southern Area National Taxation Bureau of the Ministry of Finance, stated that in order to encourage companies to invest resources in R&D, transformation, and innovation activities, and to accelerate intelligentisation,
See MoreHong Kong: IRD issues reminder for taxpayers, employers on tax information obligations
The Hong Kong Inland Revenue Department released a notice on 14 May 2026 reminding taxpayers and employers of their obligations to provide required tax-related information. Information to be furnished by taxpayers Taxpayers are reminded of
See MoreAustralia: ATO highlights areas of concern in R&D tax incentive claims
The Australian Taxation Office (ATO) has issued a notice to advisers and taxpayers on 14 May 2026 outlining its key areas of concern regarding research and development (R&D) tax incentive claims. The ATO has also updated its guidance on ensuring
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Australia, Canada tax treaty negotiations set to begin
Canada’s Department of Finance announced on 12 May 2026 that discussions will begin next month to modernise the income tax agreement between Canada and Australia. The current treaty, originally established in 1980, has been modified twice through
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US, China explore managed trade framework to ease tariff tensions
The US and China are moving toward a new approach in their trade relationship, with both nations expected to identify approximately USD 30 billion worth of goods for potential tariff reductions. A new pragmatic strategy US Trade Representative
See MoreHong Kong approves major tax concessions, higher allowances under Inland Revenue Amendment Bill 2026
The Hong Kong Legislative Council approved the Inland Revenue Amendment Bill 2026 on 13 May, introducing substantial tax concessions outlined in the 2025 Policy Address and 2026-27 Budget. Beginning with the 2026-27 assessment year, the
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Singapore, Bhutan sign income tax treaty
The Inland Revenue Authority of Singapore (IRAS) announced that it signed an income tax treaty with Bhutan on 12 May 2026. The agreement was signed in Singapore by Jeffrey Siow, Acting Minister for Transport and Senior Minister of State for
See MoreTaiwan issues 2025 income tax filing guidance for foreign individuals
Taiwan’s National Taxation Bureau of the Southern Area, Ministry of Finance, stated that foreign individuals who resided in the Republic of China (R.O.C.) for a total of 183 days or more during the year 2025, and who did not depart the R.O.C.
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Taiwan: Taxation Bureau clarifies procedures for refundable tax, offsets
Taiwan’s Taipei National Taxation Bureau of the Ministry of Finance stated that the balance of output tax minus input tax for the current period constitutes the business’s payable or refundable tax amount. Therefore, regardless of whether there
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Taiwan: Tax Bureau requires mainland China income to be included in tax returns
Taiwan’s Taipei National Taxation Bureau of the Ministry of Finance clarified that taxpayers who have obtained income sourced from Mainland China are required to declare and pay income tax together with their individual consolidated income tax
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Sri Lanka proposes sweeping VAT reforms targeting digital services, compliance
Sri Lanka’s government has released the Value Added Tax (Amendment) Bill, introducing significant changes to the VAT Act No. 14 of 2002. The amendments focus mainly on digital services, updated tax rates, revised registration thresholds, and
See MoreTaiwan clarifies residency rules, filing deadlines for foreign nationals
Taiwan's Dongshi Office, National Taxation Bureau of the Central Area, Ministry of Finance, clarified that foreign nationals filing individual income tax returns in Taiwan are subject to different filing rules depending on their tax residency
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