US imposes 50% tariffs on India for Russian oil trade
President Trump imposed an additional 25% tariff on top of the existing 25% tariff on Indian goods, citing India’s high tariffs, trade barriers, ties with Russia, and imports of Russian oil. US President Donald Trump issued an executive order
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Japan, Ukraine hold first round of investment pact revision negotiations
Japan and Ukraine held their first round of negotiations to revise the 2015 Investment Protection Agreement from 29 to 31 July 2025. Japan and Ukraine held the first round of negotiations to revise their 2015 Investment Protection Agreement
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Vietnam considers revising tax treaty and IPA with Switzerland
Vietnam seeks to revise its 1996 tax treaty and investment pact with Switzerland to reflect recent changes and boost bilateral economic ties. Vietnam expressed interest in revising the Switzerland–Vietnam Income and Capital Tax Treaty (1996)
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Hong Kong, Cameroon to start first round of tax treaty negotiations
Hong Kong and Cameroon will hold their first tax agreement negotiations from 11 to 15 August 2025. As per the Hong Kong Inland Revenue Department’s update on 4 August 2025, the initial negotiations for a tax agreement between Hong Kong and
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Cambodia to implement new capital gains tax from September 2025
The new 20% capital gain tax on capital asset sales takes effect September 2025, with specific rules and exemptions for residents and non-residents. The Ministry of Economy and Finance of Cambodia issued Prakas No. 496 on 18 July 2025,
See MoreCambodia expands mandatory e-invoicing to six more ministries
The Ministry of Economy and Finance has extended mandatory e-invoicing to six additional ministries as part of Phase 2 in the national rollout. The Ministry of Economy and Finance (MEF) of Cambodia has issued Circular No. 012, extending the
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Senegal, Vietnam sign trade deals
Senegal and Vietnam have signed memorandums of understanding to boost cooperation in trade and agriculture. Vietnam and Senegal signed multiple cooperation agreements on 23 July 2025 to strengthen ties in trade, agriculture, diplomacy, and
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Taiwan confirms temporary 20% US tariff, highlights ongoing chip tariff talks
Taiwan President Lai Ching-te said the new 20% US tariff on Taiwanese imports is "temporary” and plans to negotiate for a lower rate. Taiwan President Lai Ching-te stated that the U.S. government’s new 20% tariff on Taiwanese imports,
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Japan, Ukraine tax treaty enters into force
The new tax treaty replaces the 1986 tax treaty between Japan and Ukraine. Japan’s Ministry of Finance announced on 2 July 2025 that the new income tax treaty between Japan and Ukraine entered into force on 1 August 2025. The new treaty,
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Australia: ATO issues guidance on fraudulent GST refund schemes
The alert warns businesses against colluding with related entities to create fake invoices for fraudulent GST refund claims. The Australian Taxation Office (ATO) has issued a new taxpayer alert - TA 2025/2: Arrangements designed to improperly
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Australia: Productivity Commission proposes corporate tax cuts amongst other tax reforms
The proposal is open for consultation and is set to conclude on 15 September 2025. Australia’s Productivity Commission has published an interim report on 31 July 2025, proposing major changes to the country’s corporate tax framework. The
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US cuts tariff on Bangladeshi imports to 20%
The US has lowered its tariff on imports from Bangladesh to 20%, down from the previous steep rate of 35%. The US has reduced its reciprocal tariff rate on imports from Bangladesh to 20%, down from the previous 35%, following intense final
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Pakistan drops digital presence proceeds tax
The DPPT was scrapped just one month after its introduction on 30 July 2025. Pakistan’s government has scrapped the digital presence proceeds tax (DPPT) on foreign entities supplying digital goods and services to Pakistan’s consumers, only a
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Australia anticipates export boost as Trump maintains 10% US tariff rate
Australia expects a boost in exports to the US following President Trump's decision to keep a 10% minimum tariff. Australia’s Trade Minister Don Farrell said Australian products may become more competitive in the US market, aiding export
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Korea (Rep.): Ministry of Economy and Finance proposes corporate tax hikes, AI investment incentives, QDMTT Pillar Two rules
The proposals will require approval from the National Assembly before they can enter into force. The South Korean Ministry of Economy and Finance released the 2025 tax law amendment proposal, on 31 July 2025, which includes corporate tax hikes,
See MoreBangladesh: Government approves purchase of 220k metric tons of wheat from US to ease trade tensions
This government-to-government deal is part of Bangladesh’s efforts to reduce trade tensions with the US and avoid high tariffs on its exports. Bangladesh has approved the purchase of 220,000 metric tons of wheat from the US for USD 302.75 per
See MoreUS announces 25% tariff on India, cites trade barriers and Russian ties
The new tariffs will enter into force on 1 August 2025. The Trump Administration will impose 25% tariffs on Indian imports, citing India's high tariffs, trade barriers and ongoing defence and energy ties with Russia. US President Donald Trump
See MoreUS: Trump to set 15% tariff on South Korean imports under new trade deal
President Trump announced a reduced 15% tariff on South Korean imports, down from a planned 25%, as part of a new trade deal. US President Donald Trump announced a reduced 15% tariff on imports from South Korea on 30 July 2025, down from the
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