Hong Kong releases illustrative examples for patent box regime
The patent box regime introduces a 5% concessionary tax rate, significantly lower than Hong Kong's standard 16.5% profits tax rate. The Hong Kong Inland Revenue Department (IRD) has released illustrative examples for the patent box regime. The
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Kenya, Japan consult on proposed tax treaty
Comments are due by 23 July 2025. Kenya's National Treasury announced on 23 June 2025 that it is consulting on a proposed income tax treaty with Japan. Any resulting agreement will be the first treaty between the two countries and aims to
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Australia: Queensland 2025 budget eliminates transfer duty for first-home buyers
The budget focuses on preserving the current tax structure while introducing a key initiative to remove transfer duty for eligible first-home buyers. Queensland’s State Treasurer, David Janetzki, presented the 2025-26 state budget for
See MoreAustralia: Capital Territory announces 2025-26 budget, includes conveyance duty concessionsÂ
The ACT's 2025-26 Budget focuses on tax reform, including reduced conveyance duties, increased land tax exemptions, new thresholds for general rates, a short-term rental levy, and adjusted motor vehicle duty for zero-emission vehicles. The
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Uzbekistan: Senate approves cross-tax offset amendments
ECOFIN’s final meeting under Poland’s Presidency approved a report outlining progress on key EU tax measures and ongoing international developments. The Economic and Financial Affairs Council of the EU (ECOFIN Council) held its final
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Vietnam nears US trade deal ahead of tariff deadline
 Vietnam seeks to finalise a US trade deal by 9 July 2025 to avoid tariffs while balancing relations with the US and China. Vietnamese Prime Minister Pham Minh Chinh said on 26 June 2025 that Vietnam is close to finalising a trade deal with
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Malaysia unveils venture capital incentives to spur startup investments
Venture capital funds investing 20% in local startups get a 5% tax rate for 10 years, while registered VC and PE management firms enjoy a 10% tax rate. Malaysia's government has introduced venture capital tax incentives to encourage startup
See MoreAustralia: NSW announces 2025-26 budget, makes BTR land tax concession permanent
From 2026, New South Wales will make the BTR land tax concession permanent and launch a critical minerals royalty deferral scheme to attract investment. Michael Coutts-Trotter, the Secretary of the New South Wales (NSW) Treasury, presented the
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Thailand introduces reduced corporate income tax rate to promote SEZ investments
Thailand cuts corporate tax rate to 10% for qualifying businesses in Special Economic Zones for ten years under Royal Decree No. 797 starting 6 June 2025. The Thai Revenue Department has issued Royal Decree No. 797, dated 2 June 2025 and
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China: State Administration of Taxation introduces reporting obligations for internet platform enterprises
The rules apply to both domestic and foreign digital platforms that offer profit-generating services within China and apply from the date of publication. China’s State Administration of Taxation issued State Council Decree No. 810, which
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Australia: ATO confirms anti-avoidance provisions can apply to early stage investor tax offset scheme
The ruling was published in the final tax determination on the early stage investor tax offset scheme. The Australian Taxation Office (ATO) has confirmed that the anti-avoidance provisions in the Income Tax Assessment Act 1936 can apply to the
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Singapore adds Cameroon to CbCR exchange list for FY2024
The update takes effect for financial years (FY) starting from 2024. The Inland Revenue Authority of Singapore (IRAS) has updated its Country-by-Country Reporting (CbCR) guidance as of 20 June 2025, expanding the list of jurisdictions eligible
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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
See MoreAustralia: Western Australia improves housing affordability as part of 2025–26 budgetÂ
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 rulesÂ
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
See MoreAustralia: 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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