Malaysia aims to secure the lowest possible tariff rates in ongoing US trade negotiations
Malaysia is at risk of a 25% tariff on its goods unless it secures an agreement with the US by 1 August. Malaysia’s Investment, Trade, and Industry Minister Tengku Zafrul Aziz stated that Malaysia is negotiating with the US to secure the
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Kazakhstan adopts new tax code, introduces additional R&D tax deduction to 200%
The Tax Code, effective 1 January 2026, introduces a standard CIT rate of 20%, adjusted CIT rates for various sectors, a VAT increase from 12% to 16%, with various exemptions. Kazakhstan has introduced a new Tax Code, as per Law No. 214-VIII,
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Hong Kong: IRD launches three new eTAX portals
The three new tax portals are expected to enhance the efficiency and user experience of electronic tax services in Hong Kong. The Hong Kong Inland Revenue Department announced on 22 July 2025 that it had launched three new tax portals under
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US reduces tariffs on Japanese auto imports to 15% in new trade deal
The US and Japan struck a trade deal, which lowers tariffs on Japanese auto imports to 15%. In return, Japan committed to a USD 550 billion investment in the US, including Boeing planes, defence spending, and increased agricultural and rice
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Indonesia to reduce tariffs, ease trade barriers in US trade deal
Indonesia and the US have reached a trade agreement that eliminates tariffs on over 99% of US goods and reduces non-tariff barriers. In return, the US lowered tariffs on Indonesian products to 19%, alongside significant purchases of US jets, energy,
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Bangladesh sends position paper to US, seeks tariff relief in final round of negotiations
Commerce ministry seeks to launch final round of tariff talks from 26 July; seeks 5–10-year transition period for labour and environmental reforms. Bangladesh formally submitted its position paper to the Office of the United States Trade
See MoreIndonesia: Chief Economic Minister says 19% US tariff may take effect before 1 August
Trump imposed a 19% tariff on Indonesian goods as part of a new trade agreement, effective 1 August Indonesia's Chief Economic Minister, Airlangga Hartarto, announced on 21 July 2025 that the 19% tariff on Indonesian goods entering the US could
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Australia: ATO issues guidance on foreign capital gains withholding credits from property sales
Clients subject to the foreign resident capital gains withholding (FRCGW) are required to file a tax return to claim withheld credits, regardless of income level. The Australian Taxation Office (ATO) has issued a guidance on 18 July 2025, on
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Pakistan exempts Google from new digital tax, confirms resident status
The FBR has clarified that the Digital Presence Proceeds Tax does not apply to Google because it has maintained a branch office in Pakistan and is considered a tax resident under domestic tax laws. The Federal Board of Revenue (FBR) of Pakistan
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Pakistan: FBR extends deadline for sales tax integration with e-invoicing system
FBR has announced a one-month extension for sales tax-registered businesses to integrate their systems with its electronic invoicing platform. The Federal Board of Revenue (FBR) of Pakistan has granted an additional one-month extension for
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Kyrgyzstan establishes 49-year tax-exempt special financial and investment zone
The territory aims to attract investment by offering income tax exemption to residents and permitting activities such as asset management, fintech, banking, Islamic finance, insurance, tourism, and other commercial ventures. Kyrgyzstan's
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Germany suspends new advance pricing agreements with China
Until further notice, the BZSt, as the competent authority for APAs, will not initiate any new procedures aimed at concluding APAs with China. Germany has temporarily suspended the initiation of new advance pricing agreements (APAs) with China,
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Philippines: DoF clarifies 20% final tax on interest income is not a new levy under Capital Markets Act
The DoF clarified that the 20% final tax on interest income standardises rates to address inequities favouring the wealthy, rather than introducing a new tax. The Philippines Department of Finance (DoF) released a statement on 17 July 2025 to
See MoreHong Kong: IRD extends deadline for 2024-25 lodgement tax returns
Businesses with accounting year-ends between 1 December and 31 December 2024 now have an extended tax filing deadline of 29 August 2025. The Hong Kong Inland Revenue Department (IRD) has released a Circular Letter to Tax Representatives on the
See MoreKazakhstan introduces 10% corporate tax on select income
Law No. 208-VIII ZRK is effective from 1 January 2025. Kazakhstan has introduced a new 10% corporate tax rate for certain incomes under Law No. 208-VIII ZRK, signed by the President on 15 July 2025 and published on 16 July 2025. The rate
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Australia: ATO issues draft guidance on Pillar Two filings
The consultation period for the draft guidance closes on 29 August 2025. The Australian Taxation Office (ATO) has issued draft guidance, PCG 2025/D3, on 16 July 2025 detailing its transitional approach to Pillar Two filing obligations. This
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Australia: ATO issues guidance on GST treatment of container deposit scheme refunds
The ATO clarified that entities offering value in exchange for scheme refunds may be liable for GST. The Australian Taxation Office (ATO) issued guidance on 15 July 2025, regarding GST treatment for material recovery facility operators
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Taiwan: MoF warns enterprises on timely CFC loss reporting
The finance ministry stated that CFC losses need supporting documents by the tax deadline, or they won’t be allowed. Taiwan’s Ministry of Finance (MOF) stated that CFC losses will be disallowed unless supporting documents are submitted by the
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