Asia

Introduction India introduced the Goods and Services Tax (GST) in 2017 to unify the country’s complex indirect tax structure. While it marked a significant shift, over time, the system became complicated due to multiple tax slabs, compliance hurdles, and classification issues. Fast forward to 2025, the Indian government is now rolling out GST 2.0, a […]

Establishing a business presence in China can be a transformative step for international companies. From tech startups and SaaS providers to large-scale manufacturers, the allure of China’s vast market is undeniable. But to navigate this opportunity effectively, one must understand the country’s tax identification landscape, especially the Unified Social Credit Code (U.S.C.C.) and broader TIN […]

Setting up or transacting in China comes with enormous promise, but the bureaucratic burden, especially in taxation, remains a major hurdle. For many international businesses, whether selling on e-commerce platforms, providing SaaS to Chinese users, or operating distribution chains, navigating China’s tax system without a proper Tax Identification Number (TIN) is like driving without a license. 

India’s Goods and Services Tax (GST), introduced on July 1, 2017, is a destination-based, value-added tax system that replaced multiple indirect taxes like excise duty, VAT, and service tax. Its purpose is to simplify taxation and remove cascading effects. Governed by the GST Council (comprising the Union Finance Minister and State Finance Ministers), GST regulations are frequently updated to reflect economic conditions and administrative improvements. 

As part of a broader global trend, Indonesia is tightening its enforcement of Goods and Services Tax (GST) obligations for foreign digital service providers. Beginning in 2025, the country will reaffirm the application of an 11% GST on all nonresident business-to-business (B2B) and business-to-consumer (B2C) digital sales exceeding an annual threshold of IDR 600 million (approximately USD 40,000). 

Vietnam has entered 2025 with a decisive shift in its tax administration, enacting significant reforms to its value-added tax (VAT) and transfer pricing regulations. These updates, driven by both domestic fiscal needs and global regulatory expectations, reflect a move toward stricter enforcement, enhanced transparency, and alignment with international standards. The new rules for multinational enterprises, digital service providers, and local exporters mark a critical juncture in Vietnam’s tax landscape. 

On December 25, 2024, China’s National People’s Congress Standing Committee passed a landmark piece of legislation—the Value-Added Tax (VAT) Law. Set to take effect on January 1, 2026, this new law will replace the existing Interim VAT Regulations that have governed China’s tax system for nearly three decades. It marks a significant step toward modernizing China’s tax framework, providing greater clarity and consistency for businesses, and supporting the country’s continued economic transformation.