Singapore: MoF issues regulations on MNE minimum tax filing, record-keeping
The Singapore Ministry of Finance (MOF) has published the Multinational Enterprise (Minimum Tax) (Administrative Matters) Regulations 2025 (S 861) on 30 December 2025, providing detailed rules for the designation of local filing entities, record
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Turkey ratifies income tax treaty with Hong Kong
Turkey published Law No. 7569 in the Official Gazette on 26 December 2025, approving the ratification of its income tax treaty with Hong Kong. The agreement, signed on 24 September 2024, aims to prevent double taxation and promote greater tax
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Malaysia: MoF revises SST policies, announces lower rental tax, raw material exemptions, and extended construction relief
Malaysia’s Ministry of Finance released updated policy notices on sales and services tax (SST) on 5 January 2026. The key updates are as follows: Effective 1 January 2026, the service tax on rental and leasing services will be revised to
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Japan: MoF unveils FY 2026 tax reform proposals, covers income tax, investment incentives and digital economy measures
Japan’s Ministry of Finance (MoF) has released the highlights of the tax reform proposals for the fiscal year 2026. The key elements of the proposals are outlined below: （１）Income tax reform to address rising prices  Introduce
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Azerbaijan: STS raises VAT limit to encourage cashless payments
Azerbaijan’s State Tax Service (STS) has announced changes to the VAT registration threshold for businesses using cashless payments, aiming to encourage the adoption of electronic transactions in retail trade and public services. The
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Taiwan: Northern District National Taxation Bureau expands mobile payment tax benefits until 2028
Taiwan’s Northern District National Taxation Bureau has announced on 5 January 2025 that the 1% business tax incentive for small-scale businesses using mobile payments or multimedia information service machines (KIOSKs) will be extended until 31
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Saudi Arabia: ZATCA extends tax penalty waiver initiative to June 2026
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) announced the issuance of a decision by the Minister of Finance approving the extension of the Initiative to Cancel Fines and Exempt Taxpayers from Financial Penalties for those subject to
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Malaysia enacts key measures under 2026 budget
Malaysia gazetted the Finance Act 2025 and the Measures for the Collection, Administration and Enforcement of Tax Act 2025 on 31 December 2025. These laws give effect to selected measures announced in the 2026 Budget and additional tax
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Sri Lanka: IRD revises betting and gaming levies from January 2026
The Inland Revenue Department (IRD) of Sri Lanka has announced updated levies for betting and gaming businesses following amendments to the Betting & Gaming Levy Act, No. 40 of 1988, under the Betting and Gaming Levy (Amendment) Act No. 25 of
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China: STA extends high-cap tax deductions for advertising through 2027
China’s Ministry of Finance and State Taxation Administration (STA) have announced the extension of preferential tax deduction rules for advertising and promotional (A&P) expenses on 22 December 2025 under the newly issued Announcement No. 16
See MoreSingapore: IRAS expands list of jurisdictions for CbC exchange
The Inland Revenue Authority of Singapore (IRAS) has updated the list of jurisdictions with which Singapore will exchange Country-by-Country (CbC) reports under the Multilateral Competent Authority Agreement on Automatic Exchange of
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Hong Kong, Oman commence initial round of tax treaty talks
The Hong Kong Inland Revenue Department (IRD) has announced that officials from Hong Kong and Oman will meet for the first round of talks on an income tax treaty from 5 to 9 January 2026. If successfully concluded, this would mark the first tax
See MoreSingapore: IRAS revises e-tax guide on hybrid instrument taxation
The Inland Revenue Authority of Singapore (IRAS) has released the third edition of its e-Tax Guide on the Income Tax Treatment of Hybrid Instruments on 26 December 2025. The guide outlines how hybrid instruments are classified as debt or equity
See MoreMalaysia: IRBM defers e-invoicing for new businesses, exempts sub-MYR 1 million revenue taxpayers
The Inland Revenue Board of Malaysia (IRBM) has released an updated guidance on 7 December 2025, where it revised the annual turnover threshold for e-invoicing. In a previous report, taxpayers with annual turnover or revenue below MYR 500,000
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China unveils new implementation regulations for VAT law
China’s State Council has released the Regulations for the Implementation of the Value-Added Tax (VAT) Law on 30 December 2025, marking a significant milestone in the nation's fiscal modernisation. The VAT Implementation Regulations (VATIR)
See MoreMalaysia: IRBM updates ruling on tax classification for SMEs
The Inland Revenue Board of Malaysia (IRBM) released Public Ruling No. 8/2025 on 22 December 2025, providing guidance on the classification and tax treatment of micro, small, and medium-sized companies or enterprises (MSMEs), including limited
See MoreHong Kong: IRD updates FAQs on mainland China tax cooperation
The Hong Kong Inland Revenue Department has released updated and new FAQs on the 2006 income tax arrangement with Mainland China, including revisions related to the determination of individual residence. Updated questions Question 1: According
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Singapore: IRAS issues guidelines for multinational, domestic top-up tax registration
The Inland Revenue Authority of Singapore (IRAS) has issued the Multinational Enterprise (Minimum Tax) (Administrative Matters) Regulations 2025 (Administrative Regulations) on 29 December 2025, which entered into force on 31 December 2025. This
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