China's State Taxation Administration is providing training and draft guidelines to local tax officers and advisory firms to clarify a newly imposed 20% tax on offshore trusts, which had caused widespread confusion and a scramble among wealthy citizens.
Nigeria Revenue Service issued guidelines requiring crypto platforms and P2P marketplaces to collect, report, and remit taxes, with specific withholding rates for disposals, staking, and transfers.
Selling investments in India triggers capital gains tax for Non-Resident Indians (NRIs), with rules varying by asset type including property, shares, mutual funds, gold, and agricultural land. Proper planning, documentation, and expert advice can help reduce tax liability.
India proposed tax law amendments to remove size and investor limits for offshore investment funds using India-based managers, aiming to attract foreign capital and boost domestic fund management.
Bitcoin exchange Bull Bitcoin has petitioned France's Council of State to strike down EU's DAC8 crypto tax reporting rules, citing risks of mass data leaks and increased danger to crypto holders due to potential kidnappings and wrench attacks.
South Korea plans to revise property tax rules this month to balance recurrent and transaction taxes, aiming to curb speculative trading and prioritize actual residents, according to Finance Minister Koo Yun-cheol.
South Africa's Revenue Service (SARS) has released draft guidelines clarifying crypto asset taxation under existing income and capital gains tax laws. Most crypto activities like trading, swapping, and spending are considered disposals triggering tax events, with taxpayer intention being a key factor in classification.
India's Union Cabinet recommended an ordinance to ease tax rules for foreign investors in certain securities, aiming to strengthen the rupee amid record FPI withdrawals and economic concerns.
India's Union Budget 2024 introduced new capital gains tax rules for property sales, effective July 23, 2024. Long-term gains now face a 12.5% tax without indexation, though residents and HUFs can opt for the old 20% with indexation if beneficial. Short-term gains remain unchanged.
Germany may overhaul its crypto tax rules from 2027, potentially curbing the country’s hallmark one-year tax-free holding rule as it tightens enforcement and seeks extra revenue.
India's new online gaming law effective May 1 classifies games into three categories with different tax treatments: online money games (completely prohibited, 30% flat tax on winnings without loss set-off), e-sports (30% TDS on tournament winnings), and social games (no tax implications for users). The key distinction is whether players stake money for returns versus participating without stakes.
New Income Tax Rules, 2026 effective April 1, 2026 mandate PAN for high-value transactions including purchase of motor vehicles above Rs 5 lakh, opening demat accounts, and investing in mutual funds above Rs 50,000. Form 60 has been replaced by Form 97 under the Income Tax Act, 2025, with expected reduction in filings by 80-85% from 12.5 crore to approximately 2 crore annually.
The Income Tax Rules, 2026 introduce new compliance requirements for Indian individuals acting as authorised signatories for foreign companies. Under the updated Form No. 96 (replacing Form 49AA), foreign entities must now disclose details of their Indian representative including PAN, contact information, and proof of identity/address. These individuals face potential personal liability for the foreign company's tax defaults, even after resigning, prompting concerns about reluctance to accept such roles.
