Bangladesh: Interim government passes national budget for FY26
With the country still under interim rule and no sitting parliament, the FY26 budget will be implemented via a presidential ordinance. The interim government of Bangladesh on Sunday, 22 June, passed a BDT 7.9 lakh crore national budget for the
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Australia: Western Australia improves housing affordability as part of 2025–26 budget
Western Australia passed the Duties Amendment Bill 2025, expanding concessions for first-home buyers and off-the-plan purchases to improve housing affordability as part of the 2025-2026 budget, with no new taxes. The Western Australian Parliament
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Australia: ATO consults draft GST, foreign ownership register rules
The ATO is consulting on three draft instruments regarding GST and the Register of Foreign Ownership of Australian Assets. Feedback is open until 16 July 2025. The Australian Taxation Office (ATO) opened a consultation on three draft instruments
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Australia: ATO extends amendment period for SME tax returns
From 1 July 2024, small and medium businesses will have up to four years to amend their tax returns, doubling the current two-year limit. The Australian Taxation Office (ATO) has published updated guidance on amending business and super tax
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Philippines commits to implementing CARF for crypto-assets
The implementation of the Crypto-Asset Reporting Framework (CARF) is aimed at combating cross-border tax evasion and illicit financial flows. The Philippines Department of Finance (DOF) announced its commitment to adopting the Crypto-Asset
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Thailand proposes trade plan to avert US tariffs
It is expected that both countries might agree on tariffs as low as 10%. Thailand held trade talks with the US on 18 June 2025 and will submit a proposal on Friday, 20 June 2025, because possible tariffs on its exports to the US have lowered
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Taiwan: Ministry of Finance outlining tax return filing obligations for resident individuals
Taiwan’s Ministry of Finance has set a 30 June 2025 deadline for resident tax returns, with filing based on ARC-registered addresses. Taiwan's Ministry of Finance has released a statement outlining the tax return filing obligations for
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Bangladesh updates renewable energy policy, offers 10-year corporate tax exemption
Bangladesh updates its Renewable Energy Policy, introducing tax incentives and new measures to boost green power generation by 2030. The government of Bangladesh released its updated Renewable Energy Policy 2025 on 16 June 2025, setting a target
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Vietnam: National Assembly approves VAT rate reduction, expands scope
Vietnam’s National Assembly has approved an extension of the VAT reduction from 10% to 8% for certain goods and services until 31 December 2026, expanding coverage to include transport, logistics, and IT sectors. Vietnam’s National Assembly
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UAE: FTA publishes updated corporate tax self registration manual
The updated corporate tax self-registration manual aims to simplify the registration process on the EmaraTax portal. The UAE Federal Tax Authority (FTA) released Version 3.0.0.0 of the Corporate Tax Self-Registration – Taxpayer User Manual on
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Vietnam: National Assembly approves revised corporate tax law, introduces improved incentives
The amended CIT Law introduces new rules on capital transfers, revised SME rates, and targeted tax incentives. Vietnam’s National Assembly passed Law No. 67/2025/QH15 on 14 June 2025 , a major amendment to the Corporate Income Tax (CIT) Law,
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Czech Republic, Japan negotiates new tax treaty
The treaty will update and replace the 1977 tax agreement between Japan and the former Czechoslovakia. Japan's Ministry of Foreign Affairs has announced that negotiations for a new income tax treaty with the Czech Republic began on 16 June
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Australia: ATO issues additional guidance on public CbC reporting
The guidance outlines several benefits of voluntary registration. The Australian Taxation Office (ATO) released additional guidance on its public country-by-country (CbC) regime on 12 June 2025. The guidance outlines several benefits of voluntary
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Hong Kong, Morocco to start tax treaty negotiations
Hong Kong and Morocco will hold their first income tax treaty negotiations from 23 to 27 May 2025. The Hong Kong Inland Revenue Department (IRD) has announced that Hong Kong and Morocco will hold their first round of income tax treaty
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Lithuania, Vietnam sign letter of intent for income tax treaty
Lithuania and Vietnam signed a letter of intent on 12 June 2025 to negotiate their first income tax treaty, which will take effect after finalisation and ratification. Lithuania’s Ministry of Finance has announced that representatives from
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Vietnam: Parliament approves gradual tax rise on beer and strong alcohol by 2031
Vietnam plans to raise taxes on beer and strong alcohol to 90% by 2031. Vietnam’s parliament has approved a plan to increase taxes on beer and strong alcoholic beverages to 90% by 2031, up from the current 65%. The tax hike will be phased in
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Philippines grants VAT exemption on medicines for major illnesses
Philippines announced a VAT exemption on medicines for cancer, diabetes, dialysis, hypertension, high cholesterol, and mental illnesses, effective 13 June 2025. The Philippines’ Department of Finance announced a VAT exemption for medicines
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Brazil, China protocol to tax treaty entered into force
The amended Brazil-China tax treaty (effective 14 June 2025) sets withholding tax rates for dividends, interest, and royalties. The amending protocol to the 1991 income tax treaty between Brazil and China took effect on 14 June 2025. Signed on
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