The Hong Kong Government has issued a statement committing to amend its tax law with regards the tax exemption for foreign source passive income from 2023, to ensure the territory does not end up placed on the EU's tax blacklist of non-cooperative territories.

With the UK corporate tax rate set to rise 25 percent from April 2023, the UK Government has announced various tax proposals that are intended to support businesses and the UK economy, in the newly released 2022 Budget.

Following a consultation exercise, the Inland Revenue Authority of Singapore has said the territory intends to go ahead with various important goods and services tax regime changes without accepting amendments proposed by stakeholders.

Indonesia's lower house of parliament has signed off on a bill that provides for a two-stage hike to the headline value-added tax rate, the cancellation of a planned corporate tax cut, and the introduction of a new top rate of personal income tax.

China has set out the priorities of the Belt and Road Initiative Tax Administration Cooperation Mechanism (BRITACOM) Council over the next five years, at the 36-country grouping's second forum.

The Dutch Government has announced changes aimed at improving the tax system in its 2022 Tax Plan, released on September 21.

On September 28, 2021, the European Commission launched a consultation on a proposed Directive that would obligate member states to introduce the same rules regarding withholding tax on dividend and interest payments.

The Singaporean Government has announced it will amend provisions on transfer pricing adjustments in the draft Income Tax (Amendment) Bill 2021, which includes measures announced in the 2021 Budget, following a consultation.

China's Ministry of Finance and the State Administration of Taxation have issued a statement announcing tax relief from the Urban Maintenance and Construction Tax.

The European Commission has committed to tabling a proposal for a digital tax in October, whether or not an international agreement surfaces from OECD-led talks on new international tax rules for the world's largest firms.

The US Senate has approved the inclusion of new provisions in the bipartisan infrastructure bill to require intermediaries involved in cryptocurrency trading to report details about transactions.

The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories' agreement that exempted shipping industry income from tax.

The Colombian Government has issued Decree 939 of August 19, 2021, which enables the tax agency to revise an assessment for potentially viable companies that are facing insolvency, where doing so may save the company and jobs.

The Indonesian Government has legislated to shoulder the value-added tax liability of retail businesses on rent and service charges due between August and October 2021.

Tax revenues fell in 2019 in two-thirds of economies across Asia and the Pacific as a result of an economic slowdown prior to the COVID-19 pandemic, according to a new OECD report.