Taiwan clarifies rules on foreign tax credit eligibility
Unclaimed treaty relief blocks foreign tax credit in Taiwan Taiwan’s Ministry of Finance has clarified that profit-seeking enterprises are not eligible to claim a foreign tax credit for excess taxes paid in treaty jurisdictions if they do not
See More
Germany, Japan formalise tax treaty arbitration rules
The agreement details the procedures for the arbitration of their 2015 tax treaty between the two countries. The German Ministry of Finance released an agreement on 4 June 2025, signed with Japan, detailing the application of arbitration
See More
Malaysia issues updated guidance on taxation of Malaysian ships
The Public Ruling updates the tax treatment and shipping income exemptions for qualifying Malaysian residents, replacing the 2012 edition. RegFollower Desk The Inland Revenue Board of Malaysia (IRBM) has issued Public Ruling No. 1/2025 on 15
See More
Kazakhstan consults transfer pricing law amendments
The amendment proposes using the official exchange rate to calculate the CbC reporting threshold under transfer pricing rules. Kazakhstan’s Ministry of Finance has initiated a public consultation regarding the draft order proposing changes to
See More
India: CBDT launches nationwide drive to crack down on false income tax deduction and exemption claims
The income tax department has begun a large-scale verification to detect and act against fraudulent claims of deductions and exemptions in income tax returns. India’s Central Board of Direct Taxes (CBDT) initiated a nationwide verification
See More
US: Trump imposes 19% tariff on Indonesia after trade talks
The trade agreement imposes stricter penalties for transhipment and Indonesia’s commitment to purchasing 50 Boeing jets and USD 19.5 billion in US energy and agricultural products. US President Donald Trump announced a 19% tariff on Indonesian
See More
Indonesia mandates income tax withholding by e-commerce and online platforms
The regulation introduces income tax withholding requirements for both domestic and foreign e-commerce and online marketplace operators. Indonesia's Ministry of Finance announced Regulation No. 37 of 11 June 2025 (PMK37/2025) on 14 July 2025,
See More
Bangladesh, US to hold final tariff negotiations before August 25
Bangladesh and the US to hold final tariff negotiations next week to avert 35% export duty. Bangladesh will commence a third and final round of negotiations with the US next week to avert a 35% tariff on its exports, scheduled to take effect on 1
See More
Netherlands: Tax authority clarifies software distribution payments not royalties under Korea (Rep.) tax treaty
The royalty payments are exempt from withholding tax in Korea (Rep.), granting the Netherlands exclusive taxing rights over the income. The Netherlands tax authority clarified on 10 July 2025 that payments for software distribution licenses by a
See MoreTaiwan issues CFC exemption guidelines for 2025 compliance
New guidance confirms Taiwan’s CFC exemption applies to entities with limited earnings or substantial operations. Taiwan’s Ministry of Finance has released a notice to specify the exemption limit for current-year income under the Controlled
See More
Sri Lanka: Cabinet reapproves income tax treaty with Austria
Sri Lanka’s Cabinet has reapproved the signing of its first income tax treaty with Austria, requiring signature and ratification to take effect. Sri Lanka’s Cabinet reapproved the signing of an income tax treaty with Austria on 7 July 2025,
See More
Australia: ATO lowers benchmark rate for private company shareholder loans
The interest rate for the income year ending 30 June 2026 is set at 8.37%, down from 8.77% for the previous year. The Australian Taxation Office (ATO) has updated the Division 7A benchmark interest rate on 7 July 2025 for private company loans
See More
Japan, Ukraine tax agreement comes into effect
The Ministry of Finance confirmed the 2024 tax treaty with Ukraine will take effect on 1 August 2025. Japan’s Ministry of Finance announced on 2 July 2025 that the 2024 tax treaty and protocol with Ukraine will come into effect on 1 August
See More
Korea (Rep.), Kyrgyzstan tax treaty protocol enters into force
The Korea (rep.)–Kyrgyzstan tax treaty amending protocol entered into force on 5 July 2025, with key provisions applying from 1 January 2026. The amending protocol to the Korea (Rep.) - Kyrgyzstan Income and Capital Tax Treaty (2012), signed on
See More
Singapore: IRAS releases 8th edition guide on additional conveyance duties
This guide outlines the Additional Conveyance Duties (ACD) introduced on 11 March 2017, covering their treatment and calculation for acquiring or disposing of equity interests in property-holding entities (PHEs) primarily owning Singapore
See More
Brazil, Vietnam to resume tax treaty talks
The two countries agreed to advance income tax treaty negotiations initiated in 2015. Vietnamese Prime Minister Pham Minh Chinh met with Brazilian President Luiz Inacio Lula da Silva on 5 July 2025, to discuss bilateral relations. The two
See More
Sri Lanka: Parliament approves protocol to 2013 tax treaty with India
The Sri Lankan Parliament approved the amending protocol to its 2013 income tax treaty with India on 2 July 2025, following its signing on 16 December 2024. The Parliament of Sri Lanka approved the protocol to the 2013 income tax treaty with
See More
Japan, Iran Customs Mutual Assistance Agreement enters into force
Japan and Iran’s Customs Mutual Assistance Agreement entered into force on 18 June 2025, following its signing on 22 August 2021. The Customs Mutual Assistance Agreement (CMAA) between Japan and Iran entered into force on 18 June 2025. This
See More