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Indonesia: When Taxes Join Forces with SMEs: Supporting Growth and Simplified Compliance

Indonesia /

In line with the government’s commitment to empowering micro, small, and medium enterprises (UMKM), the Directorate General of Taxes has rolled out a suite of measures aimed at simplifying tax obligations and providing targeted support for this vital sector. The initiative, anchored in the recently enacted PMK‑37/2025, introduces streamlined reporting mechanisms, reduced withholding rates, and

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Taiwan: Tax Bureau: Sole Proprietorship Officer Change Treats Goods Transfer as Taxable Sale

Taiwan /

On 12 August 2026 the Taipei National Tax Bureau NTB under the Ministry of Finance issued official guidance interpreting the application of the Business Tax Act to sole proprietorships specifically addressing the tax consequences of officer changes coupled with goods transfers. The guidance clarifies that when a sole proprietorship replaces its designated responsible person and

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South Korea: Lim Pushes Tax Reforms for National Fiscal Innovation and Public Trust

South Korea /

In a policy address released on 12 August 2026, National Tax Service Commissioner Lim Jong‑hwan set out a comprehensive agenda to drive fiscal innovation and reinforce public confidence in tax administration. The remarks outlined a roadmap that blends technology‑led efficiency gains with expanded engagement channels, aiming to modernize tax collection, reduce compliance burdens, and ensure that taxpayers

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Solomon Islands: Solomon Islands IRD Formal Tax Policy Work Programme Consultation 2026–2028

Solomon Islands /

The Inland Revenue Division (IRD) of the Solomon Islands has initiated a formal consultation process regarding the development and implementation of a comprehensive Tax Policy Work Programme spanning the fiscal years 2026 through 2028. This initiative emerges from an internal assessment of tax reform needs, aiming to establish standardized processes, clear responsibilities, and a structured

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Azerbaijan: Number of Commercial Enterprises in Azerbaijan Rises by 6.7%

Azerbaijan /

As of 12 August 2026, the State Tax Service reported that the total count of commercial enterprises on the national taxpayer register increased by 6.7 % compared with the beginning of the year, reaching approximately 1.72 million registered entities. Key Takeaways Economic Expansion Signal: The rise reflects new business formations across retail, services, and manufacturing sectors. Tax

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Hong Kong SAR: IRD Addresses Media Inquiries on the Attached-Permit preferential tax scheme

Hong Kong SAR /

The Hong Kong Inland Revenue Department (IRD) has recently responded to a series of media inquiries concerning the Attached‑Benefit preferential tax scheme, providing a detailed clarification of its legal basis, implementation schedule, and overarching policy intent. The scheme is grounded in the Inland Revenue Ordinance (Cap. 115) and represents a targeted fiscal incentive that forms

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Azerbaijan: Active VAT Payers in Nakhchivan Increase by 5.6%

Azerbaijan /

As of 12 August 2026, tax officials in the Nakhchivan Autonomous Republic reported that the number of active value‑added tax (VAT) payers grew by 5.6 % year‑on‑year, reaching 657 registered entities, while overall taxpayer numbers rose by 8.3 % to 24,227. Key Takeaways VAT Sector Expansion: The uptick indicates growing commercial activity subject to VAT, particularly in

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Hong Kong SAR: Financial Services and Treasury Bureau Responds to Queries on Benefits Tax Regime

Hong Kong SAR /

On 12 August 2026, the Hong Kong Financial Services and Treasury Bureau (FSTB) formally responded to persistent media queries concerning the operational scope and compliance requirements of the Accompanying Benefits Tax (ABT) regime established under the Inland Revenue Ordinance (Cap. 112). This clarification comes amid heightened regional and international focus on tax transparency, particularly following

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Indonesia: Indonesia MSME Tax Support: DGT Celebrates UMKM with Tailored Incentives and Simplified Compliance

Indonesia /

On 12 August 2026, the DGT announced a suite of tax measures celebrating National MSME Day, targeting the 64 million micro, small, and medium enterprises (UMKM). Key policies include: (1) Final Income Tax (PPh Final) at 0.5% of gross turnover for micro enterprises with annual turnover ≤ IDR 500 million, (2) simplified monthly reporting via

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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 (Re-Revised), dated 12 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

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