Azerbaijan
Azerbaijan |
| |||
Tax legislation approved and regulatory update | Indirect tax | 03 March 2025 | Reduction in branch profit tax rate, Value Added Tax (VAT) exemption for transfers of land use rights, tax incentives for green projects. Read more. | |
For a full summary of global tax developments, visit kpmg.com/TaxNewsFlash.
To contact the International Tax Team email internationaltax@kpmg.com.
To register for the International Tax webcasts, click here.
Australia
Australia | |||
Tax legislation approved and regulatory update | Various tax topics | 27 March 2025 | Legislation amending luxury car tax, denying deductions for interest charges on tax debts, and reducing individual income tax rates passes Parliament. Read more. |
Tax legislation approved and regulatory update | Income tax | 26 March 2025 | Hydrogen, critical minerals production tax incentives to commence April 1, 2025. Read more. |
Tax legislation approved and regulatory update | Various tax topics | 25 March 2025 | 2025 federal budget. Read more. |
Tax legislation approved and regulatory update | Income tax | 20 March 2025 | Impact statement on Full Federal Court Division 7A decision. Read more. |
Proposed legislation | Income tax | 14 March 2025 | Proposed amendments to income tax law following Australian Taxation Office's alert on managed investment trust structures. Read more. |
Tax legislation approved and regulatory update | Income tax | 11 March 2025 | Arrangements that “inappropriately access” managed investment trust withholding regime. Read more. |
Administrative and case law | Indirect tax | 07 March 2025 | Car park exempt from fringe benefits tax due to operational purpose and fee structure (Federal Court decision). Read more. |
Administrative and case law | Indirect tax | 05 March 2025 | Termination of taxpayer’s gaming licenses did not create financial arrangement subject to Taxation of Financial Arrangements rules (Federal Court decision). Read more. |
Tax legislation approved and regulatory update | Indirect tax | 05 March 2025 | Non-compliant small businesses to shift to monthly goods and services tax reporting. Read more. |
Administrative and case law | Transfer pricing | 04 March 2025 | Tax authority statement regarding Federal Court decision that taxpayer entitled to interest deductions with respect to foreign related-party financing. Read more. |
Back to top
Azerbaijan
Bahrain
Bahrain | |||
Tax legislation approved and regulatory update | Transfer pricing | 17 March 2025 | Updated Domestic Minimum Top-up Tax registration manual. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 03 March 2025 | Updated Value Added Tax (VAT) manuals. Read more. |
Cambodia
Cambodia | |||
Tax legislation approved and regulatory update | Various tax topics | 06 March 2025 | Updated guidance on income tax, various indirect taxes. Read more. |
Back to top
China
China | |||
Tax legislation approved and regulatory update | Tax compliance | 12 March 2025 | Guidance on certificate of tax residency. Read more. |
Back to top
Egypt
Egypt | |||
Tax legislation approved and regulatory update | Income tax | 19 March 2025 | Amendments to tax procedures, tax incentives for small businesses. Read more. |
Back to top
India
India | |||
Proposed legislation | Income tax | 26 March 2025 | Revisions to direct tax amendments proposed by Union Budget 2025. Read more. |
Administrative and case law | Income tax | 20 March 2025 | Rights entitlements not company shares for purposes of Ireland treaty (Tribunal decision). Read more. |
Tax legislation approved and regulatory update | Income tax | 17 March 2025 | Clarification to guidance that grandfathering provisions in tax treaties are excluded from principal purpose test. Read more. |
Administrative and case law | Income tax | 12 March 2025 | Relaxation of conditions to carry forward losses not allowed (High Court decision). Read more. |
Administrative and case law | Treaties | 05 March 2025 | Payments for bareboat chartering of dredger not taxable as royalties under Belgium treaty (Tribunal decision). Read more. |
Administrative and case law | Income tax | 03 March 2025 | Two-year limitation period for nonresidents to submit refund claims not authorized under statute (High Court decision). Read more. |
Indonesia
Indonesia | |||
Tax legislation approved and regulatory update | BEPS Pillar 2 | 05 March 2025 | Implementation of global minimum tax. Read more. |
Back to top
Japan
Japan | |||
Tax legislation approved and regulatory update | BEPS Pillar 2 | 31 March 2025 | 2025 tax reform bills, including Pillar Two rules, passed by Parliament. Read more. |
Kazakhstan
Kazakhstan | |||
Proposed legislation | Indirect tax | 13 March 2025 | Proposed increase in standard Value Added Tax (VAT) rate. Read more. |
Tax legislation approved and regulatory update | Transfer pricing | 13 March 2025 | Changes to rules for monitoring cross-border transactions, additional deductions for Research and Development expenses. Read more. |
Back to top
Malaysia
Malaysia | |||
KPMG publication | Various tax topics | 13 March 2025 | Tax developments summary (March 2025). Read more. |
Mongolia
Mongolia | |||
Tax legislation approved and regulatory update | Various tax topics | 13 March 2025 | MLI effective January 1, 2025, other direct and indirect tax developments. Read more. |
Back to top
New Zealand
New Zealand | |||
Tax legislation approved and regulatory update | Indirect tax | 03 March 2025 | Amendments to omnibus August tax bill. Read more. |
Back to top
Phillippines
Phillippines | |||
Tax legislation approved and regulatory update | Indirect tax | 07 March 2025 | Expansion of e-invoicing resumed. Read more. |
Back to top
Saudi Arabia
Saudi Arabia | |||
Tax legislation approved and regulatory update | Indirect tax | 26 March 2025 | E-invoicing mandatory for taxpayers with revenue above SAR1 million. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 03 March 2025 | E-invoicing requirement extended to 21st group of taxpayers from November 30, 2025. Read more. |
Back to top
Sri Lanka
Sri Lanka | |||
Tax legislation approved and regulatory update | Income tax | 25 March 2025 | Legislation introducing various income tax changes enacted. Read more. |
Back to top
Thailand
Thailand | |||
Tax legislation approved and regulatory update | Indirect tax | 19 March 2025 | Carbon tax on oil approved by Cabinet. Read more. |
Tax legislation approved and regulatory update | Income tax | 19 March 2025 | Reduced corporate tax rate for special economic zones approved by Cabinet. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 06 March 2025 | Revised input tax allocation for registered operators. Read more. |
Back to top
Turkiye
Turkiye | |||
Tax legislation approved and regulatory update | Income tax | 17 March 2025 | Updated guides on taxation of business income. Read more. |
Tax legislation approved and regulatory update | Income tax | 17 March 2025 | Suspended inflation adjustments for first three advance tax periods in FY2025. Read more. |
Tax legislation approved and regulatory update | BEPS Pillar 1 | 17 March 2025 | Announcement that Amount B under Pillar One will not be applied. Read more. |
Tax legislation approved and regulatory update | Income tax | 05 March 2025 | Increased withholding tax rates on income from certain financial instruments. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 05 March 2025 | Increased Value Added Tax (VAT) refund limit for 2025. Read more. |
Back to top
United Arab Emirates
United Arab Emirates | |||
Tax legislation approved and regulatory update | Indirect tax | 21 March 2025 | Guidance on recent amendment to Value Added Tax (VAT) regulation. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 19 March 2025 | Accreditation process for e-invoicing. Read more. |
Tax legislation approved and regulatory update | BEPS Pillar 2 | 04 March 2025 | Frequently Asked Questions on Pillar Two domestic minimum top-up tax. Read more. |
