•With all remaining sectors (real estate and construction, financial service, hospitality, food & beverage, healthcare, education, cultural & entertainment services, etc.) transitioning from Business Tax ("BT") to Value Added Tax ("VAT") nationwide with effect from 1 May 2016, VAT has now completely replaced BT in China.

With the passage of the 2016 tax reform bills on 29 March 2016, the effective corporate tax rates for a company which is liable to size-based business taxes will be reduced.

On 8 April 2016, the Manpower Minister of Singapore announced in the Parliament that new criterion will be introduced in approving work pass applications aiming at strengthening the competitiveness of the Singapore workforce.

On 26 February 2025, the Financial Secretary delivered the Hong Kong SAR Government's ("the Government") 2025-26 Budget ("the Budget"). The Budget was wide ranging in terms of measures to shore up the Government's finances while maintaining investment in public services and longer-term capital projects.

On 12 January 2017, Mr. Wang Jun, the Director of State Administration of Taxation ("SAT") announced that the annual tax revenue of China for 2016 is RMB11.5878 trillions, an increase of 4.8% over 2015.

The winter months have seen a range of significant measures in tax legislation, from tax incentives for foreign investment and various measures to promote the technology sector to building on earlier measures to increase tax collections.

The last three months have seen many countries fine-tuning and regulating existing tax incentives and announcing new tax incentives in accordance ...

The Asian countries are in the process of revising their information exchange laws to embrace the country-by-country report exchanges proposed by the OECD in the context of combating international tax avoidance.

Singapore has announced tougher measures against GST and income tax avoidance by introducing a 50% surcharge on transfer-pricing adjustments.

In June 2016, a Tax Bill has been passed to attract multinational and mainland enterprises to establish Corporate Treasury Centres ("CTCs") in Hong Kong.

Over the past weeks, there has been some important news on the pension regime in Hong Kong that employers and employees should be mindful of.

In a reply from the State Administration of Taxation (SAT) of Mainland China to the Hong Kong Government dated 28 July 2011, the SAT clarified the arrangements in relation to tax payable to the Mainland China Government for dividends paid by non-foreign invested Mainland China companies listed in Hong Kong as follows:

The times are changing. Due to pressure from the European Union, Hong Kong has issued the framework of how it proposes to change its long-cherished offshore taxation rules applicable to passive...

Australia in its 2016/17 Budget announced that the company tax rate for all companies will decrease from 30% to 25% over the next 10 years beginning with the year 2016-17.

As we entered the last quarter of 2023, before you is tax news about the third quarter of the year. As in the previous editions, the news covers a variety of topics depending on the jurisdiction...

In 2024, there has been a sharp increase in the number of enforcement actions initiated by the Cayman Islands Tax Information Authority ("TIA") and fines levied against relevant entities...

The Financial Service and Treasury Bureau (FSTB) announced in a Policy Statement today several measures with a view

The Hong Kong government has introduced a dedicated profits tax concession regime for eligible Family-owned Investment Holding Vehicles (FIHVs) that are managed by an eligible Single-Family Offices (SFOs) in Hong Kong.

Malta's Commissioner for Revenue issued Legal Notice No. 229 of 2024 on 13 September, which amends the Income Tax (Deductions) Rules with respect to deductions in respect of capital expenditure...

The Hong Kong Inland Revenue Department (IRD) recently provided further guidance on the foreign-sourced income exemption (FSIE) regime by publishing four new frequently...