Korea (Rep.) expands temporary fuel tax cuts amid Middle East conflict
Korea (Rep.) will increase its temporary fuel tax reductions to ease costs amid the Middle East conflict, the finance ministry said Thursday 2 March 2026. Gasoline taxes will rise from a 7% cut to 15%, and diesel from 10% to 25%. The measure,
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India: CBDT signs record 219 APAs in FY 2025-26
India’s Central Board of Direct Taxes (CBDT), under the Ministry of Finance’s Department of Revenue has announced the signing of a record 219 Advance Pricing Agreements (APAs) with Indian taxpayers in FY 2025-26. This total includes both
See MoreIndia: Income-tax Act 2025 enters into force
India has formally implemented the Income-tax Act, 2025, from 1 April 2026, replacing the six-decade-old Income-tax Act, 1961, with the intention to simplify and modernise India’s income tax law. The legislation introduces clearer language, a
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Japan enacts 2026 tax reform, implements side-by-side safe harbour
Japan’s National Diet approved the 2026 tax reform legislation on 31 March 2026, which has been published in the Official Gazette. The measures reflect proposals released in December 2025 and January 2026, covering income, corporate,
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New Zealand consults on draft tax debt relief guidance
New Zealand Inland Revenue has released a draft Standard Practice Statement (SPS) on 27 March 2026, updating and replacing SPS 18/04. The draft sets out the Commissioner’s approach to relief from tax debt under the TAA 1994 for individuals,
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Hong Kong adjusts tax reserve certificate interest rates
Hong Kong’s Inland Revenue Department announced on 2 April 2026 that starting from 8 April 2026, the new annual rate of interest payable on Tax Reserve Certificates will be 0.1500% against the current rate of 0.2417%, i.e. the new rate will be HKD
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Malaysia, Maldives income tax treaty enters into force
The Maldives Inland Revenue Authority announced that the income tax treaty between Malaysia and the Maldives has entered into force on 22 January 2026. Signed on 24 May 2023, it aims at eliminating double taxation and preventing tax
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Hong Kong introduces upgraded e-filing for profits tax, implements electronic block extension scheme
The Hong Kong Inland Revenue Department announced the new versions and enhanced features of the electronic filing (e-filing) of profits tax return services and the full adoption of the Electronic Block Extension Scheme on 1 April 2026. In
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Hong Kong: IRD releases 2025–26 tax returns for profits, property
The Hong Kong Inland Revenue Department (IRD) has announced the issuance of profits tax, property tax, and employers’ returns for the 2025–26 tax year on 1 April 2026. IRD has issued about 270, 000 profits tax returns, 120, 000 property tax
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Australia: ATO issues guidance on revising global, domestic minimum tax assessments, GIR
The Australian Taxation Office (ATO) issued new guidance on Amending a global and domestic minimum tax assessment and Globe Information Return (GIR) on 31 March 2026. Check if an amendment is needed To correct mistakes in relation to the
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Turkey raises withholding tax on non-TEFAS equity fund gains
Turkey’s Revenue Administration has published Presidential Decree No. 11107 in the Official Gazette (No. 33206) on 27 March 2026, increasing the withholding tax rate on gains from participation shares in equity-intensive funds that are not traded
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India enacts corporate tax cuts in Finance Act 2026
India has enacted the Finance Act 2026 on 30 March 2026, giving legal effect to the tax and fiscal measures announced in the Union Budget for 2026–2027. It introduces several changes that will affect businesses, the IT sector, investors and
See MoreAustralia: ATO clarifies essential steps for business FBT compliance
The Australian Taxation Office (ATO) has released a notice on 26 March 2026 outlining four essential steps for businesses to comply with their fringe benefits tax (FBT) obligations for the year ending 31 March 2026. The FBT year runs from 1 April
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Taiwan announces vehicle license tax payment window for April 2026
Taiwan’s Taxation Administration has announced that the statutory payment period for the vehicle license tax of 2026 is 1 April 2026 to 30 April 2026. Taxpayers are reminded to complete payment within the given timeframe. The Taxation
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Taiwan: Tax Bureau clarifies business tax exemption for fresh produce sellers
Taiwan’s Northern District National Taxation Bureau of the Ministry of Finance clarified that businesses exclusively engaged in the sale of unprocessed fresh agricultural, forestry, fishery, and livestock products, including by-products, are
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Taiwan clarifies CIT applies to gains from land held under another’s name
Taiwan’s Northern District National Taxation Bureau of the Ministry of Finance has clarified that when a profit-seeking enterprise purchases land but registers it under another person’s name and later sells it, such a transaction constitutes a
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Australia-EU free trade agreement: Key benefits and outcomes
The Australia-European Union Free Trade Agreement (A-EU FTA) creates substantial new export opportunities for Australian businesses in a market of 450 million consumers. Once implemented, 97.8% of Australian goods will enter the EU duty-free, with
See MoreIndia reduces excise duty on petrol and diesel, introduces windfall tax on exports
The Indian government has announced, on 27 March 2026, a reduction in excise duty on petrol and diesel for domestic consumption, citing rising global oil prices amid the rising hostilities in the Middle East. The move aims to shield consumers from
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