Australia: ATO consults thin capitalization compliance guide
The ATO is seeking public feedback on a draft guidance to limit interest payment deductions on multinational debt. Comments are due by 30 June 2025. The Australian Taxation Office (ATO) has opened a public consultation regarding a draft guidance
See More
Iran ratifies tax treaty with Bangladesh
The agreement between the two nations was signed on 8 October 2022. Iranian President Masoud Pezeshkian signed legislation ratifying the income tax treaty with Bangladesh on 24 May 2025. The agreement was signed on 8 October
See More
New Zealand to enhance governance of emissions trading scheme
New rules will require detailed reporting from trading platforms and participants, enhancing oversight as part of broader climate reforms. The New Zealand government announced that it is taking steps to improve its Emissions Trading Scheme (ETS)
See More
Vietnam introduces tax, financial incentives to promote private growth
The National Assembly passed Resolution 198/2025/QH15 on 17 May 2025 introducing the incentives. Vietnam’s National Assembly passed Resolution 198/2025/QH15 on 17 May 2025, introducing various tax and financial incentives to support private
See More
Hong Kong: Government approves global minimum tax bill
The bill introduces a 15% global minimum tax for multinational enterprise groups, starting 1 January 2025. The Hong Kong Inland Revenue Department (HKIRD) has announced that the Legislative Council approved the Inland Revenue (Amendment) (Minimum
See More
Thailand: BOI updates incentives for SMEs, data centres, tourism
Thailand's Board of Investment (BOI) announced the new tax exemptions on 19 May 2025. Thailand's Board of Investment (BOI) announced that it has approved a series of measures to support small and medium-sized enterprises (SMEs), along with
See More
India: CBDT extends income tax return deadline for AY 2025–26
It has been extended from 31 July to 15 September, 2025. The Indian Central Board of Direct Taxes (CBDT) announced an extended deadline for filing income tax returns for the Assessment Year 2025–26 on 27 May 2025. It has been extended from 31
See More
Hong Kong, Maldives sign income tax treaty
The agreement will take effect after ratification, applying in Hong Kong from 1 April and in the Maldives from 1 January of the year following its enforcement. Hong Kong and the Maldives signed an income tax treaty on 26 May 2025. This is the
See More
Kyrgyzstan ratifies amending protocol to tax treaty with Korea (Rep.)
Kyrgyzstan ratified the protocol on 22 May 2025 Sadyr Japarov, Kyrgyzstan’s President, signed the law for the ratification of the amending protocol to the 2012 income and capital tax treaty with Korea (Rep of.) on 22 May 2025. It will take
See MoreAustralia: ATO revises functional currency guidelines
The ATO updated its Guide to Functional Currency Rules on 22 May 2025, detailing the rules, eligibility, and tax reporting impacts. The Australian Taxation Office (ATO) updated its Guide to functional currency rules on 22 May 2025, covering the
See MoreVietnam, US conclude second round of tariff negotiations
Vietnamese Trade Minister Nguyen Hong Dien and US Trade Representative Jamieson Greer led the talks, identifying areas of near consensus and others requiring further discussion. The US and Vietnam concluded their second round of tariff
See MoreAustralia: Administrative Review Tribunal rules in favour of Alcoa against ATO in key transfer pricing ruling
This case focused on a major transfer pricing issue, where ATO claimed Alcoa underpriced its alumina sales to Aluminium Bahrain B.S.C. (Alba) from 1993 to 2009, causing a tax shortfall of over AUD 213 million. Australia’s Administrative Review
See More
Pakistan to offer incentives for US mining investors in tariff negotiations
Pakistan plans mining incentives for US firms, including Balochistan joint ventures, to ease trade talks and avert proposed US tariffs. Pakistan plans to offer investment incentives to US companies in its mining sector as part of ongoing trade
See More
Sri Lanka, Vietnam to revise tax and investment treaties
Any resulting protocol will mark the first updates since their original agreements from 2005 and 2009. Sri Lanka and Vietnam have agreed to update their 2005 income tax treaty and 2009 Sri Lanka-Vietnam Investment Protection Agreement on 5 May
See More
Bangladesh: Government backtracks dissolution of National Board of Revenue
The government has confirmed that NBR will maintain its operations during the phased implementation of the new Revenue Policy and Revenue Management Ordinance 2025. Bangladesh’s interim government has confirmed that the National Board of
See More
OECD publishes new transfer pricing profiles for Azerbaijan and Pakistan, updates 11 others
The OECD has published updated transfer pricing country profiles for 11 jurisdictions. RegFollower Desk The Organisation for Economic Co-operation and Development (OECD) has released new transfer pricing country profiles for Azerbaijan and
See More
New Zealand announces 2025 budget, introduces tax incentive to boost investment
The budget, announced on 22 May 2025, includes a 20% “investment boost” tax deduction for business assets and changes to KiwiSaver. New Zealand’s Minister of Finance, Nicola Willis, announced the 2025 budget on 22 May 2025, introducing
See MoreAustralia: Productivity Commission consults corporate tax reform, reduce regulatory impact on businesses
The Australian Productivity Commission is seeking policies to enhance economic resilience and productivity. Feedback is open until 6 June 2025. The Australian Productivity Commission has opened a consultation for a corporate tax reform to build a
See More