Malaysia
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Malaysia | |||
乐鱼（Leyu）体育官网 publication | Various tax topics | 15 May 2025 | Tax developments summary (May 2025). Read more. |
For a full summary of global tax developments, visit听kpmg.com/TaxNewsFlash.
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Australia
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Australia | |||
Tax legislation approved and regulatory update | Various tax topics | 30 May 2025 | Parliament passes land tax and payroll tax amendments (Victoria). Read more. |
Proposed legislation | Indirect tax | 30 May 2025 | Consultation on Goods and Services tax draft instruments. Read more. |
Proposed legislation | Transfer pricing | 30 May 2025 | Draft guidance on arm鈥檚 length amount of related-party debt. Read more. |
Tax legislation approved and regulatory update | Trade and customs | 21 May 2025 | Tax measures in 2025 budget (Victoria). Read more. |
Tax legislation approved and regulatory update | BEPS Pillar 2 | 19 May 2025 | Updated guidance on Pillar Two minimum tax rules. Read more. |
Tax legislation approved and regulatory update | Trade and customs | 14 May 2025 | Tax measures in 2025 budget (Northern Territory). Read more. |
Proposed legislation | Trade and customs | 14 May 2025 | Proposed extension of 鈥渙ff-the-plan鈥� stamp duty concession (Victoria). Read more. |
Tax compliance | Various tax topics | 13 May 2025 | Final guidance on payment times reporting rules. Read more. |
Tax compliance | Indirect tax | 09 May 2025 | Updated guidance on supplementary annual goods and services tax return. Read more. |
Tax compliance | Income tax | 07 May 2025 | Australian Taxation Office guidance on eligibility of instant asset write-off. Read more. |
Proposed legislation | Income tax | 06 May 2025 | Labor Party鈥檚 2025 tax agenda following federal election win. Read more. |
Administrative and case law | Transfer pricing | 06 May 2025 | Challenge to transfer pricing of sales of alumina to third party rejected (Administrative Review Tribunal decision). Read more. |
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Bahrain
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Bahrain | |||
Tax compliance | BEPS Pillar 2 | 19 May 2025 | New guide on Pillar Two minimum tax rules. Read more. |
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Cambodia
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Cambodia | |||
Tax compliance | Various tax topics | 19 May 2025 | Issuance of notification letter for incorrect tax declarations, announcement of 2025 on-site audits. Read more. |
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Hong Kong (SAR), China
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Hong Kong (SAR), China | |||
Tax legislation approved and regulatory update | BEPS Pillar 2 | 29 May 2025 | Pillar Two global minimum tax rules receive legislative approval. Read more. |
Tax legislation approved and regulatory update | Various tax topics | 14 May 2025 | Legislation implementing company re-domiciliation regime passed by Legislative Council. Read more. |
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India
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India | |||
乐鱼（Leyu）体育官网 publication | Transfer pricing | 29 May 2025 | 乐鱼（Leyu）体育官网 article: Cost of delivery for 鈥淕lobal Capability Centers鈥� in India. Read more. |
Tax compliance | Income tax | 28 May 2025 | Due date for filing income tax returns extended to September 15, 2025. Read more. |
Administrative and case law | Treaties | 19 May 2025 | Capital gains exemption under India-Cyprus treaty granted in absence of evidence to rebut tax residency certificate (Tribunal decision). Read more. |
Administrative and case law | Income tax | 12 May 2025 | Fair market value basis for asset received in liquidation (High Court decision). Read more. |
Tax legislation approved and regulatory update | Transfer pricing | 07 May 2025 | Expanded scope of transfer pricing safe harbors. Read more. |
Administrative and case law | Income tax | 02 May 2025 | Damages received for failure of property development contract not taxable as capital gains (tribunal decision) property development contract not taxable as capital gains (tribunal decision). Read more. |
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Kazakhstan
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Kazakhstan | |||
Tax compliance | Transfer pricing | 02 May 2025 | New information system for submitting Local file. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 20 May 2025 | Changes to calculation of excise taxes on fuels. Read more. |
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Malaysia
New Zealand
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New Zealand | |||
Tax legislation approved and regulatory update | Various tax topics | 22 May 2025 | Tax measures in 2025 budget. Read more. |
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Oman
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Oman | |||
Proposed legislation | Tax compliance | 19 May 2025 | Proposed e-invoicing implementation from third quarter of 2026. Read more. |
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Pakistan
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Pakistan | |||
Tax legislation approved and regulatory update | Various tax topics | 06 May 2025 | Amendments address income and excise tax collection and litigation. Read more. |
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Philippines
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Philippines | |||
Tax compliance | Indirect tax | 12 May 2025 | Guidance on application of value added tax on cross-border digital services rules. Read more. |
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South Korea
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South Korea | |||
Administrative and case law | Various tax topics | 13 May 2025 | Right to claim refund of wrongly withheld tax (Supreme Court decision), value added tax monthly reporting, obligation to file CbC report, other tax developments. Read more. |
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Turkiye
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Turkiye | |||
Tax compliance | Various tax topics | 07 May 2025 | Guide on tax deferral and installment procedures. Read more. |
Tax legislation approved and regulatory update | Income tax | 07 May 2025 | Further extension of 0% withholding tax on treasury bills and government bonds. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 07 May 2025 | Extended application period for value added tax exemption for construction work under investment incentive certificates. Read more. |
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United Arab Emirates
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United Arab Emirates | |||
Tax compliance | Income tax | 27 May 2025 | Tax guide on interest deduction limitation rules. Read more. |
Tax legislation approved and regulatory update | Income tax | 07 May 2025 | Updated guidance on qualified investment funds and nonresident nexus rules. Read more. |
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Vietnam
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Vietnam | |||
Tax legislation approved and regulatory update | Income tax | 28 May 2025 | Tax incentives to promote private economic development. Read more. |
