Belarus: National Assembly approves tax treaty with Myanmar
The House of Representatives of Belarus (lower house) approved the draft law on 24 March 2026 to ratify the income tax treaty with Myanmar, by Resolution No. 292-P8/III, as published on the National Legal Internet Portal of Belarus. The
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Australia: ATO issues guidance on Pillar Two rules for tax consolidated group restructures, transition rules
The Australian Taxation Office has released guidance on tax consolidated group restructures and transition rules, outlining how Australia’s Pillar 2 minimum tax rules apply to acquisitions, restructures, and other ownership or asset transfers
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Australia: ATO consults on thin capitalisation compliance, risk-weighted asset allocation for foreign bank branches
The Australian Taxation Office has opened a public consultation on Draft Practical Compliance Guideline PCG 2026/D1, covering thin capitalisation and the allocation of risk-weighted assets to Australian branches of foreign banks. This
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India: Lok Sobha approves Finance Bill 2026 with amendments
India’s Lok Sabha (lower house of parliament) has approved the Finance Bill 2026 with amendments on 25 March 2026. It now awaits approval by the Rajya Sabha. The bill implements the Union Budget 2026–27, including measures to introduce the new
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Taiwan: MoF outlines treaty relief for foreign e-services profits
Taiwan’s Ministry of Finance (MoF) has released a notice on 26 March 2026, outlining the possible tax exemption on business profits earned by foreign enterprises from providing electronic services, where such relief is available under applicable
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Malaysia clarifies taxation of real estate investment trusts (REITs), property trust funds (PTFs) to unit holders
The Inland Revenue Board of Malaysia (IRBM) released Practice Note No. 2/2026 (including examples) on 18 March 2026, addressing significant changes to how income distributions from real estate investment trusts (REITs) and property trust funds
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Hong Kong: IRD issues advance ruling on ship lessor qualification for preferential tax treatment
The Hong Kong Inland Revenue Department (IRD) published an advance ruling on 12 November 2025 on whether a Hong Kong ship leasing company qualifies for the concessionary tax regime for “qualifying ship lessors” under the Inland Revenue
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Hong Kong: IRD mandates e-filing for 2025/26 Block Extension Scheme, sets extended profits tax deadlines and tighter compliance rules
The Hong Kong Inland Revenue Department (IRD) has issued a Circular Letter to Tax Representatives regarding the Block Extension Scheme for filing 2025/26 tax returns on 19 March 2026. The letter confirms that, as in previous years, the scheme will
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Malaysia gazettes order on reduced service tax on rental, leasing services
Malaysia gazetted the Service Tax (Rate of Tax) (Amendment) Order 2026 on 13 March 2026, formalising a reduction in the service tax rate on rental and leasing services. Earlier, Malaysia’s Ministry of Finance released updated policy notices on
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Hong Kong, Barbados sign income tax treaty
Hong Kong’s government has announced that representatives from Barbados and Hong Kong signed a comprehensive income tax treaty on 19 March 2026, marking a step forward in strengthening bilateral economic ties. The agreement provides clarity on
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India: CBDT rolls out 2026 income tax rules with expanded transfer pricing framework
India’s Central Board of Direct Taxes (CBDT) issued Notification No. 22/2026 on 20 March 2026 under the Income Tax Act, 2025, introducing the Income Tax Rules, 2026. The rules provide a comprehensive framework for income tax administration,
See MoreAustralia consults Board of Taxation’s review of thin capitalisation amendments
The Australian Board of Taxation released a consultation guide marking the beginning of a formal statutory review of recent reforms to the nation's thin capitalisation rules in March 2026. This consultation guide outlines an independent statutory
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Taiwan: MoF extends 2026 property tax filing deadline
Taiwan’s Ministry of Finance (MoF) has announced that the 2026 property tax (tax year 115) will be levied from 1 May 2026. Taxpayers whose properties qualify for preferential tax rates or exemptions must submit applications to their local tax
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Sri Lanka: IRD mandates employee TINs in APIT annual statements
Sri Lankan Inland Revenue Department (IRD) has announced that, starting from the Year of Assessment 2025/2026, all employers registered under the Advance Personal Income Tax (APIT) scheme must include each employee’s Taxpayer Identification Number
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Taiwan: Ministry of Finance clarifies invoice rules for businesses
The Ministry of Finance clarified, on 19 March 2026, that if a business’s monthly sales do not reach TWD 200,000, it may continue to be exempt from issuing uniform invoices. Instead, business tax is levied at a fixed rate of 1%. Contrary to
See MoreAustralia: ATO confirms PepsiCo exempt from royalty withholding, diverted profits tax following high court ruling
The Australian Taxation Office (ATO) issued a Decision Impact Statement on 19 March 2025, concerning the High Court ruling in PepsiCo Inc v Commissioner of Taxation, handed down in August 2025. Summary of decision The High Court dismissed the
See MoreMalaysia clarifies tax rules for retail money market fund distributions
The Inland Revenue Board of Malaysia (IRBM) has released Practice Note No. 1/2026, dated 27 February 2026, outlining the tax treatment of distributions from retail money market fund (RMMF) unit trusts. The key aspects of this tax treatment are
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Vietnam: MoF drafting new transfer pricing, taxpayer obligations, CbC reporting rules
The Vietnamese Ministry of Finance (MoF) is preparing a draft Decree on tax administration for related-party transactions of enterprises with affiliated relationships, in line with the Law on Tax Administration No. 108/2025/QH15. The new
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