Australia: ATO publishes guidance on eligibility of instant asset write-off
The Australian Taxation Office (ATO) released guidance, on 5 May 2025, about business eligibility for the AUD 20,000 instant asset write-off for 2024-2025. Businesses with a turnover under AUD 10 million using simplified depreciation rules may
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Bangladesh to shift tax exemption authority to parliament
Bangladesh will introduce a new policy placing full authority for tax exemptions with parliament, removing decision-making power from the government and National Board of Revenue (NBR). NBR Chairman Md Abdur Rahman Khan said the move aims to
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China to impose anti-dumping duties on Indian cypermethrin
China's commerce ministry announced it will impose anti-dumping duties of 48.4% to 166.2% on Indian cypermethrin for five years, effective immediately. Cypermethrin is an insecticide used in agriculture and sanitation. The decision follows a
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Singapore: IRAS updates corporate tax calculators for AY 2025
The Inland Revenue Authority of Singapore (IRAS) has updated its webpage for preparing tax computations by publishing two Basic Corporate Income Tax Calculators (BTC) for the assessment year (AY) 2025. These Excel-based calculators are tailored
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Taiwan extends 2024 annual corporate tax return, investment incentive application deadlines
Taiwan's deadline for filing and paying the 2024 annual tax return has been extended from 31 May to 30 June 2025. The deadline to apply to the competent central authority for various investment tax credits have also been extended until 30 June
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Kazakhstan updates CbC notification form, mandates e-filing
Kazakhstan has revised the MNE group participation notification or country-by-country (CbC) notification form through Order No. 84 of 24 February 2025. The Order No. 84 amends Order No. 178 of 14 February 2018, which includes adjustments to the
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Pakistan extends e-invoicing deadline for sales tax registrants
The Federal Board of Revenue (FBR) of Pakistan has announced a one-month extension for sales tax-registered individuals to link their hardware and software with the FBR’s digital system and begin electronic transmission of invoices on 30 April
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Azerbaijan, Kazakhstan conclude income tax treaty talks
Azerbaijan has announced that the first round of negotiations for a new income tax treaty with Kazakhstan concluded on 2 May 2025. Both countries have mutually agreed upon most provisions of the treaty. The agreement focuses on the elimination of
See MoreTaiwan: Legislative Yuan approves expanded tax incentives for AI, green tech, startups
Taiwan's Legislative Yuan has approved amendments to the Statute for Industrial Innovation, increasing tax incentives for investments in artificial intelligence (AI), carbon emission reduction technologies, and startups on 18 April 2025. The
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Azerbaijan, Kazakhstan begin negotiating new income tax agreement
Azerbaijan and Kazakhstan initiated the first round of talks for a new income tax agreement on 29 April 2025. Participants in the meeting included Orkhan Musayev, who leads the Main Department for International Taxation and Tax Monitoring at
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New Zealand holds tax treaty talks with Croatia and Germany
New Zealand held talks with Croatia in March 2025 to begin negotiations for a new income tax treaty. In January 2025, it also held a third round of talks with Germany to update their 1978 tax treaty, aiming to align it with OECD/G20 BEPS
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US: Trump administration ends duty-free access for low-value imports from China, Hong Kong
The Trump administration ended duty-free access for low-value shipments from China and Hong Kong entering the US on Friday, 2 May 2025. This followed after President Donald Trump signed an executive order on 2 May 2025, which ended “de
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Singapore issues advance ruling on taxable presence for companies selling locally manufactured goods
The Inland Revenue Authority of Singapore (IRAS) has released Advance Ruling Summary No. 5/2025 on 2 May 2025, addressing whether a company establishes a taxable presence in Singapore through the sale of locally produced goods to Singaporean
See MoreCameroon ratifies income tax treaty with China
Cameroon President Paul Biya has approved the ratification of an income tax treaty with China on 2 May 2025. Signed on 17 October 2023, it is the first agreement of its kind between the two nations. It aims to eliminate double taxation on income
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New Zealand and the UK resume tax agreement negotiations
New Zealand and the UK resumed negotiations in March 2025 to finalise a new Double Tax Agreement (DTA) aimed at addressing income and capital gains tax matters. The objective is to replace the existing DTA, which was signed in 1983, with an
See MoreNew Zealand, Australia continue tax treaty negotiations
New Zealand's Ministry of Foreign Affairs and Trade has announced that Australia and New Zealand will begin a second round of talks in May 2025 to negotiate a new income tax agreement. The first round of discussions took place in May 2024. This
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Malaysia ratifies new income tax treaty with Russia
Malaysia has completed the ratification of the new 2024 Malaysia - Russia Income Tax Treaty (2024) through the publication of the Double Taxation Relief (The Government of The Russian Federation) Order 2025 in the Official Gazette PU (A) 112 of 28
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Philippines enforces mutual assistance convention
The OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters, amended by the 2010 protocol, took effect in the Philippines on 1 May 2025. The Multilateral Convention on Mutual Administrative Assistance in Tax Matters
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