Asia: Tax

The Chennai Bench of Income Tax Appellate Tribunal, in the case of Sundaram Alternative Opp Series High Yield Secured Debt Fund rejected the tax officer’s attempt to re-characterise the Fund's investment income as business income and affirmed the tax exemption for the Fund.

On 5 June 2026, the Government of India promulgated the Income-tax (Amendment) Ordinance, 2026, exempting specified foreign investors from taxation on both interest income and capital gains arising from investments in Government Securities (“G-Secs”), with retrospective effect from 1 April 2026.

On 12 May 2026, Treasurer Jim Chalmers handed down what he described as “the most important and ambitious Budget in decades”. The backdrop was demanding: a global oil shock driven by conflict in the Middle East, headline inflation forecast to reach 5% by mid-2026, and sustained cost-of-living pressure on households and businesses.

One of the key issues before the Ld. Madhya Pradesh Electricity Regulatory Commission (“MPERC”) was whether MB Power was entitled to gross-up its Return on Equity (“RoE”) notwithstanding the fact that, at the corporate level, it had not paid income tax during certain years owing to losses and unabsorbed depreciation arising from its other businesses. MPPMCL opposed the claim, inter alia, on the grounds that the claim was barred by limitation and that grossing-up could not be permitted in the absence of actual tax payment by the corporate entity.

The Chennai Bench of Income Tax Appellate Tribunal, in the case of Sundaram Alternative Opp Series High Yield Secured Debt Fund rejected the tax officer’s attempt to re-characterise the Fund's investment income as business income and affirmed the tax exemption for the Fund.

In Ritu Butalia v. State, 2026:DHC:2057, the Delhi High Court held that an accused is entitled to inspect original foreign documents relied upon by the prosecution where such inspection is necessary for effective cross-examination and to challenge the admissibility of those documents.

India has emerged as one of the world’s leading destinations for Global Capability Centres (GCCs), with multinational corporations increasingly establishing captive centres to manage global operations, technology development, research and development, finance, legal support, data analytics and business process management functions.

Singapore's IP holding structures offer significant advantages for regional brand management and commercialisation, but their effectiveness depends on operational substance aligning with legal form.

The Income-tax Act, 2025 introduces significant amendments to India's transfer pricing regime, fundamentally restructuring how associated enterprise relationships are determined and expanding the scope of international transactions subject to arm's length pricing requirements.

The quote sometimes attributed to Vladimir Lenin that “there are decades where nothing happens; and there are weeks where decades happen” seems particularly appropriate in relation to the 2026 Federal Budget.

The Australian Federal Budget for 2026-2027 introduces sweeping reforms to the tax system, including a controversial 30% minimum tax on discretionary trusts, abolition of the 50% CGT discount in favor of cost base ...

Generally, the Fees for Technical Services (‘FTS’) are taxable at the place where the services are rendered. However, many of India’s tax treaties, do not follow the source rule of place...