Australia: ATO revises corporate tax residency guidelines
The ATO updated its corporate tax residency guidelines on 11 June 2025, clarifying the central management and control (CMC) test The Australian Taxation Office (ATO) updated its corporate tax residency guidelines in PCG 2018/9 on 11 June 2025,
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Philippines issues VAT filing guidelines for nonresident digital providers
The BIR has issued a form and related guidelines for nonresident digital service providers to file and pay VAT. The Philippines Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 52-2025 on 30 May 2025, introducing a
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Hong Kong announces 2024-25 property tax obligations for owners
Hong Kong property owners with taxable rental income must inform the Inland Revenue Department by 31 July 2025 if they don’t receive a tax return, or face penalties. The Hong Kong Inland Revenue Department has issued a notice on property tax
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Malaysia: IRBM grants e-invoicing exemption for revenue below MYR 500,000, defers for up to MYR 5 million
The IRBM announced that taxpayers with annual turnovers under MYR 500,000 are temporarily exempt from e-Invoicing. The Inland Revenue Board of Malaysia (IRBM) announced on 5 June 2025 that taxpayers with annual revenue below MYR 500,000 are
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Australia: ATO announces GIC, SIC rates for Q1 2025-26
From 1 July 2025, the GIC annual rate will be 10.78%, and the SIC annual rate will be 6.78%. The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the first quarter of
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Thailand, Brunei approve first tax treaty
Thailand’s Cabinet approves its first income tax treaty with Brunei, following OECD/G20 BEPS guidelines. The Thai Cabinet approved the signing of an income tax treaty with Brunei on 4 June 2025. The agreement aligns with the latest
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Vietnam launches new tax rules for e-commerce and digital platform sellers
Starting 1 July 2025, Vietnam requires e-commerce platforms to withhold and pay taxes on behalf of sellers. The Vietnamese Government issued Decree No. 117/2025/ND-CP on 9 June 2025, introducing new regulations to manage tax obligations for
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Georgia, Korea (Rep.) conclude 5th round of investment agreement negotiations
Georgia and Korea (Rep.) finished their fifth negotiation round to strengthen investment ties. Georgia and Korea (Rep.) concluded the fifth round of negotiations on the Investment Promotion and Protection Agreement (IPA) on 4 June 2025. The
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Australia: ATO confirms interest on late payments and underpayments is non-deductible from July 2025
The ATO reminds taxpayers that from 1 July 2025, interest on late payments and underpayments will no longer be tax deductible. The Australian Taxation Office (ATO) announced on 10 June 202, reminding taxpayers that from 1 July 2025, interest
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Hong Kong passes law allowing company re-domiciliation
The inward re-domiciliation regime in Hong Kong was enacted on 23 May 2025, allowing non-Hong Kong companies to re-domicile while keeping their legal identity and business continuity. The Hong Kong company inward re-domiciliation regime became
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Kazakhstan revises tax treaty list for CFC rules
Kazakhstan has updated its list of jurisdictions eligible for CFC rule exemptions, removing several countries and Swiss cantons, effective 22 May 2025. Kazakhstan issued Order No. 247 on 22 May 2025, amending Order No. 680 of 19 June 2023. The
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Pakistan unveils Federal budget 2025–26 with major tax reforms
Pakistan’s Ministry of Finance unveiled the 2025-2026 Federal Budget on 10 June, introducing significant tax reforms to boost revenue and regulate digital commerce. Key changes include reduced super tax rates, new digital transaction levies,
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Hong Kong updates list of profit tax-exempt debt instruments
The Hong Kong Inland Revenue Department (IRD) has released updated Qualifying Debt Instruments (QDIs) lists as of 31 March 2025. The Hong Kong Inland Revenue Department (IRD) updated its list of Qualifying Debt Instruments (QDIs) on 10 June 2025,
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US extends Section 301 tariff exemptions on Chinese imports through August 2025
The USTR has extended certain product exclusions from Section 301 tariffs on Chinese imports until 31 August 2025. The Office of the US Trade Representative (USTR) has announced an extension of specific product exclusions from Section 301 tariffs
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Malaysia: MoF announces sales and service tax amendments
Malaysia announced revisions to the sales tax and an expanded service tax scope, effective 1 July 2025. Malaysia’s Ministry of Finance announced on 9 June 2025 revisions to the sales tax and an expanded scope for the
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Bangladesh plans higher minimum PIT in 2025-26 budget
The government may introduce a flat BDT 5,000 minimum tax for individuals in FY 2025-26, with new taxpayers paying a discounted BDT 1,000 to boost compliance. Bangladesh may raise the minimum income tax for individuals to BDT 5,000 in the FY
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India: Government approves scheme to boost domestic EV production
India launches a scheme to boost EV manufacturing, attracting global investments with reduced import duties and a minimum INR 4,150 crore commitment. India’s government has approved a forward-looking scheme to promote the domestic manufacture
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Singapore: IRAS updates e-tax guide on foreign asset disposal gains
IRAS revises tax rules for foreign asset sales—gains may be taxable if transactions lack economic substance in Singapore, effective 1 January 2024. The Inland Revenue Authority of Singapore (IRAS) published an updated e-Tax Guide Income Tax:
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