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Asia Pacific

Taiwan: Special E‑Invoice Prize Creates 972 Millionaires; Call to Use Redemption App

Taiwan /

The Ministry of Finance reiterated that the special e‑invoice prize has generated 972 millionaires and called on the public to utilize the official redemption application to verify and claim winnings. Winners must register promptly, submit identification and tax ID, and complete the claim process within 30 days; otherwise, the prize is forfeited. All prize amounts

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Taiwan: 115th Year E‑Invoice Draw Awards 18 Premium Prizes of NT$1M, 22 of NT$200K

Taiwan /

The Ministry of Finance announced the outcomes of the 115th year e‑invoice lottery, revealing 18 special prizes of NT$1 million and 22 premium prizes of NT$200,000 awarded on 4 August 2026. The draw involved over 12 million electronic invoices issued during the fiscal year, with winners required to present identification and tax ID to claim rewards. Prize

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Mainland China: China VAT Revenue Recognition: Invoicing Date vs Business Occurrence Date

Mainland China /

On 4 August 2026, the State Taxation Administration (STA) published a taxpayer Q&A addressing the timing of revenue recognition for VAT purposes when invoices are issued belatedly. The question concerns a scenario where a taxpayer failed to issue invoices and report sales in the month the business occurred, and now seeks to issue supplementary invoices.

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Indonesia: Advance Tax Deposit Not Yet Full Tax Payment; Further Measures Needed

Indonesia /

As of 04/08/2026, the Directorate General of Taxes clarified that advance tax deposits submitted by taxpayers are not automatically regarded as final tax payments. The agency emphasized that after the deposit, taxpayers must still undertake additional compliance steps, such as filing periodic returns and settling any remaining liabilities. This guidance aims to prevent misinterpretation of

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Cambodia: Cambodia Adjusts Entertainment Tax Policy via GDT Notification

Cambodia /

On 4 August 2026, the General Department of Taxation (GDT) of Cambodia issued a notification (សេចក្តីជូនដំណឹង) regarding policy adjustments on taxation of entertainment activities. The notification outlines measures to both increase and decrease specific tax rates or bases applicable to entertainment services, which may include karaoke venues, nightclubs, casinos, and other amusement establishments. The policy

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Taiwan: Personal Property Donations to Relatives’ Excluded from Gift Limits

Taiwan /

As of 2026/08/04, the Taiwan Tax Bureau clarified that personal donations of property to foundations or trusts administered by close relatives who hold positions as directors or supervisors are exempt from inclusion in the overall gift total calculation. This exemption applies only when the related party’s involvement is formally recorded and the donation complies with

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Sri Lanka: Sri Lanka Revenue Quarterly Tax Instalments 2026/2027 Year of Assessment

Sri Lanka /

The Inland Revenue Department of Sri Lanka, under the stewardship of the Commissioner General of Inland Revenue, has announced the release of Circular No. SEC/2026/E/06, dated 3 August 2026, providing authoritative guidance on the computation and remittance of quarterly advance income tax instalments for the forthcoming Year of Assessment 2026/2027. This regulatory instrument emanates from

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Nepal: Corporate Income Tax Rates for Fiscal Year 2083/84 Published

Nepal /

On 3 August 2026, the Inland Revenue Department announced the corporate income tax rates applicable to entities for the fiscal year 2083/84. The notice details the uniform and sector‑specific rates that companies must apply to their taxable profits. Key Takeaways Standard Rate: The general corporate tax rate remains at 25 % for most industries, aligning with

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Nepal: Withholding Tax Rates on Payments for Fiscal Year 2083/84 Issued

Nepal /

On 3 August 2026, the Inland Revenue Department released the withholding tax (TDS) rates to be applied on various payments made during fiscal year 2083/84. The notice specifies the percentages that payers must deduct at source for services, contracts, royalties, and other prescribed transactions. Key Takeaways Rate Schedule: The notice maintains the existing TDS structure,

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