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Asia Pacific

Fiji: FRCS and Australian Border Force Reaffirm Commitment to Stronger Border Security

Fiji /

On 10 August 2026, the Fiji Revenue and Customs Service (FRCS) convened a high‑level bilateral meeting with the Australian Border Force (ABF) to reaffirm and deepen the existing partnership that underpins collaborative border security and customs capability development. The discussion covered a comprehensive review of progress under the Memorandum of Understanding (MoU) signed in 2022,

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South Korea: Essential Tax Information for Business Owners: Youth Startup Support and Corporate Tax Filing

South Korea /

A comprehensive guide covering youth startup support programs and step-by-step corporate tax filing procedures for business operators. Disclaimer:This article is compiled and summarized based on publicly available information and is for general information and academic exchange purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. For

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Azerbaijan: Nakhchivan Tax Revenues Rise by Approximately 3.8% Year‑on‑Year

Azerbaijan /

As of 10 August 2026, tax receipts in the Nakhchivan Autonomous Republic reached nearly 146 million manat for the January–July period, representing a year‑on‑year increase of about 3.8 % (or roughly 5.4 million manat) compared with the same period in 2025. Key Takeaways Steady Revenue Growth: The rise reflects improved compliance in VAT, excise, and corporate tax collections.

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Azerbaijan: Nakhchivan VAT Refund Project Continues to Deliver Results

Azerbaijan /

As of 10 August 2026, the “VAT refund” initiative in the Nakhchivan Autonomous Republic remains active, continuing to reimburse consumers for qualifying purchases of goods and services (excluding fuel, vehicles, alcohol, and tobacco) and supporting domestic demand through targeted tax relief. Key Takeaways Ongoing Reimbursements: Monthly payouts average approximately 0.8 million manat, sustaining consumer spending levels.

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South Korea: Tax Relief Granted to Disaster‑Stricken Regions Affected by Heavy Rain

South Korea /

Following recent severe flooding that prompted the declaration of multiple disaster‑affected zones, the National Tax Service issued a directive on 9 August 2026 to provide temporary tax relief to impacted businesses and individuals. The measure is intended to alleviate cash‑flow pressures and support rapid recovery for taxpayers whose operations have been disrupted by the natural disaster. Key

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Sri Lanka: Sri Lanka Inland Revenue Department Issues August 2026 Income Tax Payment Deadline

Sri Lanka /

As of 7 August 2026, the Inland Revenue Department of Sri Lanka issued a public notice enjoining all taxpayers – individuals, partnerships, and corporations – to make income tax payments on or before 15 August 2026. This directive encompasses all categories of income tax, including Individual Income Tax (IIT), Personal Income Tax (PIT), and Corporate

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Fiji: FRCS Records $3.51B Tax Revenue – Highest Annual Collection Yet

Fiji /

The Fiji Revenue and Customs Service (FRCS) announced that net revenue collections for the financial year ending 31 July 2026 reached $3.510 billion, marking the highest annual total ever recorded. This result exceeds the Government’s forecast by $136.2 million (4.0 %) and surpasses the prior year’s collection by $25.8 million (0.7 %). Collections for July 2026 were $288.8 million, $16.6 million below

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Singapore: IRAS Updates GST Treatment for Property Options with Nominee Clauses

Singapore /

On 7 August 2026, the Inland Revenue Authority of Singapore (IRAS) published amendments to the GST treatment guidance for real estate transactions involving an option to purchase with a nominee clause. The update clarifies the input tax implications for property developers, purchasers, and nominees, ensuring compliance with the Goods and Services Tax Act. The changes

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Singapore: IRAS Releases 6th Edition GST Guide for Property Owners and Holding Companies

Singapore /

On 7 August 2026, IRAS issued the sixth edition of the e-Tax Guide for Property Owners and Property Holding Companies, incorporating amendments to paragraphs 7.11 to 7.15 and 9.10 to 9.13. The guide serves as a comprehensive reference for GST compliance in the real estate sector, covering registration, taxable supplies, input tax claims, and special

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