For a full summary of global tax developments, visit kpmg.com/TaxNewsFlash.
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Armenia | |||
Tax legislation approved and regulatory update | Indirect tax | 16 April 2025 | Increased gambling tax rates. Read more. |
Australia | |||
KPMG publication | Income tax | 29 April 2025 | Superannuation tax updates. Read more. |
Tax legislation approved and regulatory update | Tax compliance | 18 April 2025 | Circular on Automatic Exchange of Information (AEOI) compliance improvement areas for reporting financial institutions. Read more. |
Tax legislation approved and regulatory update | Tax compliance | 08 April 2025 | Further entity disclosures required under “Consolidated Entity Disclosure Statements” (CEDS). Read more. |
Tax legislation approved and regulatory update | Income tax | 04 April 2025 | Changes to Australian Taxation Office (ATO) top 500 program. Read more. |
Administrative and case law | Income Court | 02 April 2025 | “Rollover” relief applied to “top hatting” reorganization (Full Federal Court decision). Read more. |
Proposed legislation | Income tax | 01 April 2025 | Proposed additional “affordable dwelling” requirements under build to rent scheme. Read more. |
Tax legislation approved and regulatory update | Income tax | 01 April 2025 | Guidance on debt deduction creation rules. Read more. |
Bahrain | |||
Tax legislation approved and regulatory update | Various tax topics | 07 April 2025 | Action plan approved for 2025-2026 budget, corporate tax to be introduced. Read more. |
China | |||
Tax legislation approved and regulatory update | Income tax | 10 April 2025 | Enhancements to Use of, Procedures for Tax Residency Certificates. Read more. |
Hong Kong (SAR), China | |||
Proposed legislation | BEPS Pillar 2 | 23 April 2025 | Amendments to draft legislation implementing Pillar Two global minimum tax rules. Read more. |
India | |||
Administrative and case law | Treaties | 29 April 2025 | Permanent establishment losses deductible against fee for technical services income under Korea treaty (tribunal decision). Read more. |
Tax legislation approved and regulatory update | Income tax | 28 April 2025 | Guidance on when settlement payments cannot be claimed as deductions. Read more. |
Tax legislation approved and regulatory update | Income tax | 24 April 2025 | Expansion of tax collection at source on specified goods. Read more. |
Administrative and case law | Transfer pricing | 23 April 2025 | Transfer pricing framework in mutual agreement procedure (MAP) agreement cannot extend to other transactions (court decision). Read more. |
Administrative and case law | Treaties | 21 April 2025 | Mutual fund units not company shares for purposes of Singapore treaty (Tribunal decision). Read more. |
Administrative and case law | Various tax topics | 14 April 2025 | “Land or building” includes leasehold rights, shares held as stock-in-trade versus capital assets, tax rate for private discretionary trusts (court decisions). Read more. |
Israel | |||
Tax legislation approved and regulatory update | Transfer pricing | 22 April 2025 | Guidelines on country-by-country (CbC) report submissions for multinational enterprises. Read more. |
Kazakhstan | |||
Tax legislation approved and regulatory update | Indirect tax | 16 April 2025 | Extension of VAT payment by offset method on imported goods. Read more. |
Tax legislation approved and regulatory update | Transfer pricing | 16 April 2025 | New transfer pricing notification form for participation in MNE group. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 08 April 2025 | Expanded list of vehicles and agricultural machinery components exempt from Value Added Tax (VAT). Read more. |
Malaysia | |||
Proposed legislation | Indirect tax | 30 April 2025 | Deferral of service tax expansion, sales tax review. Read more. |
Tax legislation approved and regulatory update | Various tax topics | 14 April 2025 | Tax developments summary (April 2025). Read more. |
New Zealand | |||
Tax legislation approved and regulatory update | Others | 09 April 2025 | New tax governance guidance. Read more. |
Proposed legislation | Various tax topics | 01 April 2025 | Consultation on reform of fringe benefit tax rules. Read more. |
Pakistan | |||
Tax legislation approved and regulatory update | Income tax | 30 April 2025 | Corporate and non-corporate registered persons required to register digitally. Read more. |
Qatar | |||
Tax legislation approved and regulatory update | Income tax | 23 April 2025 | Tax return filing deadline extended to August 31, 2025. Read more. |
Tax legislation approved and regulatory update | BEPS Pillar 2 | 01 April 2025 | Introduction of Pillar Two global minimum tax rules. Read more. |
Saudi Arabia | |||
Tax legislation approved and regulatory update | Indirect tax | 29 April 2025 | VAT amendments approved, effective immediately. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 17 April 2025 | Real estate transaction tax law, implementing regulations effective April 9, 2025. Read more. |
Singapore | |||
Tax legislation approved and regulatory update | Tax compliance | 17 April 2025 | Updated record level error codes for FATCA. Read more. |
Tax legislation approved and regulatory update | Tax compliance | 11 April 2025 | Updated record level error codes for common reporting standard (CRS). Read more. |
Sri Lanka | |||
Tax legislation approved and regulatory update | Indirect tax | 21 April 2025 | Value Added Tax (VAT) Act No 04 of 2025 enacted. Read more. |
Tax legislation approved and regulatory update | Income Court | 02 April 2025 | Guidance on advance income tax procedures. Read more. |
Taiwan | |||
Tax legislation approved and regulatory update | Income tax | 17 April 2025 | Guidance on pre-approval of net profit and domestic profit contribution ratios to calculate withholding tax. Read more. |
Thailand | |||
Tax legislation approved and regulatory update | Income tax | 22 April 2025 | Corporate income tax exemption and reduced individual income tax for highly skilled Thai professionals. Read more. |
Turkiye | |||
Tax legislation approved and regulatory update | Indirect tax | 16 April 2025 | Special consumption tax rates on certain tobacco products. Read more. |
Tax legislation approved and regulatory update | Various tax topics | 16 April 2025 | Guide on tax treatment of donations. Read more. |
United Arab Emirates | |||
Tax legislation approved and regulatory update | BEPS Pillar 2 | 30 April 2025 | Retroactive implementation of OECD Pillar Two guidance. Read more. |
Tax legislation approved and regulatory update | Tax compliance | 28 April 2025 | Updated FATCA Frequently Asked Questions and US tax identification numbers (TINs) reporting requirements. Read more. |
Proposed legislation | Income tax | 23 April 2025 | New application for treatment of family foundations as unincorporated partnerships, guidance on requests for extended deadline for tax assessment review or reconsideration. Read more. |
Tax legislation approved and regulatory update | Tax compliance | 18 April 2025 | Additional common reporting standard (CRS) guidance on “Undocumented Accounts”. Read more. |
Vietnam | |||
Tax legislation approved and regulatory update | Indirect tax | 15 April 2025 | Amendments to regulations on electronic invoices. Read more. |
Tax legislation approved and regulatory update | Trade & Customs | 14 April 2025 | Amended preferential import tax rates. Read more. |
