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India: CBDT Notification 133/2026: Appeals Hierarchy Restructured

India /

On 12 October 2026, the CBDT issued Notification No. 133/2026, amending the 1988 notification governing the hierarchy of appellate authorities. The amendment explicitly provides that Joint Commissioners (Appeals) and Additional Commissioners (Appeals) shall be subordinate to the jurisdictional Principal Chief Commissioner or Chief Commissioner of Income-tax. This change, effective immediately, restructures the first appellate layer

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Nepal: Nepal IRD Issues English Notice on Seal Bond Digitalization

Nepal /

On 12 October 2026 (26 Ashwin 2083), the Inland Revenue Department released an English-language notice (Reference: IRD/CUS/2083-84/13661) complementing the Nepali notice on seal bond acceptance procedures. This version targets foreign investors, multinational carriers, and customs brokers operating in Nepal, providing the same regulatory updates in English to ensure uniform understanding. The notice reiterates the mandatory

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Mainland China: Large Transfers Reveal Revenue Splitting Truth in Shandong

Mainland China /

On 12 October 2026, a companion investigative report detailed how the Laizhou Batong scheme was uncovered through analysis of large-value inter-company transfers (exceeding RMB 500,000) that circularly moved funds among the fragmented entities to simulate independent operations. The SAT’s new “fund flow topology” algorithm mapped the network structure, revealing a star topology centered on the

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Azerbaijan: Nakhchivan VAT Refunds Reach 5.7 Million Manat for Consumers

Azerbaijan /

On 12 October 2026, the State Tax Service reported that the Nakhchivan Autonomous Republic has returned nearly 5.7 million manat to consumers under the “VAT Refund” project framework. This regional implementation mirrors the national program, allowing individuals in Nakhchivan to reclaim VAT paid on goods and services from registered taxpayers using new-generation cash registers (NKA).

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India: India CBDT Notification 133/2026 Revises Appeals Hierarchy

India /

On 12 October 2026, the Central Board of Direct Taxes (CBDT) issued Notification No. 133/2026, amending the 1988 notification to clarify the administrative hierarchy for appellate authorities. The notification specifies that Joint Commissioners (Appeals) and Additional Commissioners (Appeals) shall be subordinate to the jurisdictional Principal Chief Commissioner or Chief Commissioner of Income-tax. This change aims

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India: CBDT Notification 134/2026: Revised Form 161 for Penalty Waiver

India /

On 8 October 2026, the CBDT issued Notification No. 134/2026, notifying the Income-tax (Sixth Amendment) Rules, 2026. The amendment introduces a revised Form 161 for filing applications seeking waiver of penalty under Section 440(2) of the Income-tax Act, 2025. Section 440(2) empowers the Principal Commissioner or Commissioner to waive penalty imposed under the Act if

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Singapore: Singapore Signs DTA with Kyrgyz Republic to Prevent Double Taxation

Singapore /

On 12 October 2026, the Inland Revenue Authority of Singapore (IRAS) announced the signing of an Avoidance of Double Taxation Agreement (DTA) between Singapore and the Kyrgyz Republic. This landmark treaty establishes a comprehensive framework for eliminating double taxation on income derived by residents of both jurisdictions, covering business profits, dividends, interest, royalties, and capital

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Azerbaijan: Azerbaijan VAT Refund Project Implementation Continues Successfully

Azerbaijan /

On 12 October 2026, the State Tax Service confirmed that the “VAT Refund” project continues its successful implementation nationwide. The program, launched to encourage formal economic activity and increase VAT compliance, allows both individuals and businesses to reclaim VAT under specific conditions. The Service emphasized that the digital infrastructure supporting the project—including the e-taxes portal,

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India: CBDT Notification 134/2026 Revises Form 161 for Penalty Waiver

India /

The CBDT released Notification No. 134/2026 on 8 October 2026, notifying the Income-tax (Sixth Amendment) Rules, 2026. The amendment introduces a revised Form 161 for filing applications for waiver of penalty under Section 440(2) of the Income-tax Act, 2025. This update provides taxpayers with a standardized format to seek relief from penalties, ensuring procedural clarity

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Azerbaijan: Nakhchivan Active Taxpayer Count Rises 11.5 Percent

Azerbaijan /

On 12 October 2026, the State Tax Service disclosed that the number of active taxpayers in the Nakhchivan Autonomous Republic has grown by 11.5 percent compared to the previous reporting period. This growth reflects enhanced tax registration drives, improved voluntary compliance, and the impact of digital onboarding services such as the “Single Window” portal and

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