Thailand enacts draft law for Pillar 2 top-up tax implementation
Thailand’s Revenue Department announced that the Cabinet approved draft secondary legislation on 30 December 2025 to implement the Emergency Decree on Top-up Tax B.E. 2567 (2024). These draft instruments set out detailed rules for determining
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Korea (Rep): Ministry of Economy and Finance unveils tax incentives to boost domestic investment, FX stability
The Korea (Rep)’s Ministry of Economy and Finance announced tax support measures for domestic investment and foreign exchange (FX) stability, aimed at promoting the revitalisation of the domestic capital market and addressing structural
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Taiwan: MOF revises penalty rules to ease CRS compliance for financial institutions
Taiwan's Ministry of Finance (MOF) announced, on 24 December 2025, amendments to Article 2-1 and Article 2-2 of the Standards for the Exemption of Penalties for Misconduct in Taxation Affairs, along with updates to the Reference Table for Fines and
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US sets initial zero-rate tariffs on Chinese semiconductors
The Office of the United States Trade Representative (US Trade Representative) has issued a Notice of Action titled “China’s Acts, Policies, and Practices Related to the Targeting of the Semiconductor Industry for Dominance,” which was
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Taiwan: Profit-Seeking enterprises must submit tax return attachments by deadline
Taiwan's Ministry of Finance (MOF) has reminded profit-seeking enterprises with a special fiscal year to submit all required attachments when filing profit-seeking enterprise income tax returns, except for those exempt under relevant
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Hong Kong: IRD extends 2024-25 lodgement tax return deadline ending January–March 2025
The Hong Kong Inland Revenue Department (IRD) released a Circular Letter to Tax Representatives on the Block Extension Scheme for Lodgement of 2024/25 Tax Returns on 19 December 2025 stating that the IRD recognises the genuine difficulties being
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Singapore: Government consults FY2026 budget
The Singapore Government has initiated a public consultation for the FY2026 Budget on 29 December 2025, inviting citizens to share their views and suggestions ahead of its delivery. Prime Minister and Minister for Finance, Lawrence Wong, will
See MoreKorea (Rep.) issues 2025 MAP guidelines for international tax disputes
Korea (Rep.)’s National Tax Service (NTS) on 18 December 2025 published online the 2025 Guidelines for Requesting Mutual Agreement Procedure (MAP) Assistance, providing a comprehensive framework for resolving international tax disputes with treaty
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Azerbaijan releases consolidated text of tax treaty with Bosnia and Herzegovina under BEPS MLI
Azerbaijan's State Tax Service (STS) has released the consolidated versions of its tax treaty with Bosnia and Herzegovina, reflecting the changes introduced by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base
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Azerbaijan releases consolidated text of tax treaty with Belgium under BEPS MLI
Azerbaijan's State Tax Service (STS) has released the consolidated versions of its tax treaty with Belgium reflecting the changes introduced by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit
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Azerbaijan releases consolidated text of tax treaty with Austria under BEPS MLI
Azerbaijan's State Tax Service (STS) has released the consolidated versions of its tax treaty with Austria reflecting the changes introduced by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit
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Taiwan: MoF extends electric vehicle tax exemption until 2030
Taiwan’s Ministry of Finance (MoF) states that in order to enhance the willingness of consumers to purchase completely electric-operated automobiles or motorcycles , the Legislative Yuan passed on its third reading the draft of the amendment to
See MoreTaiwan: Taipei Tax Bureau clarifies certain share, capital contribution transactions to be taxed as real estate deals
Taiwan’s The Taipei National Taxation Bureau of the Ministry of Finance stated that, in order to prevent individuals and profit-making enterprises from effectively transferring the real estate and land within China of the invested profit-making
See MoreHong Kong: IRD adjusts interest on tax reserve certificates
The Hong Kong Inland Revenue Department (IRD) announced, on 24 December 2025, that starting from 5 January 2026, the new annual rate of interest payable on Tax Reserve Certificates will be 0.2417% against the current rate of 0.2583%, i.e. the new
See MoreTaiwan: Tax Authority updates rules for real estate sales by for-profit enterprises
Taiwan’s Central Area National Taxation Bureau of the Ministry of Finance has reminded for-profit enterprises that, from 1 July 2021, sales of real estate purchased after 1 January 2016 are subject to the Integrated Housing and Land Tax
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China imposes tariffs on EU dairy imports, heightens trade tensions
China will impose provisional duties ranging from 21.9% to 42.7% on dairy products imported from the European Union, with most exporters facing rates just under 30%. The measures, effective from 23 December 2025, apply to products such as
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Russia, Indonesia sign free trade agreement
On 21 December 2025, during a meeting of the Supreme Eurasian Economic Council in Saint Petersburg, representatives from Russia and Indonesia signed a Free Trade Agreement (FTA). This announcement was made on 21 December 2025. The FTA provides
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Taiwan: Keelung Customs warns importers to declare genuine value, invoices submission
The Keelung Customs Office has urged importers to honestly declare the transaction prices of imported goods and provide authentic invoices to avoid penalties. The warning follows several recent cases in which importers were found to have
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