On December 25, 2024, the National People's Congress of China passed the Value-Added Tax (VAT) Law, which will come into effect on January 1, 2026. The newly enacted VAT Law largely retains the existing tax framework, including the three-tier tax rate structure: 13 per cent for general goods sales and imports, 9 per cent for certain services like transportation, telecommunications, and publishing, and 6 per cent for modern services. It also maintains the simplified 3 per cent

A new China-Italy Double Taxation Avoidance Agreement has been signed and will take effect from January 1, 2026 and introduces several more favorable amendments, especially regarding interests, dividends, and royalties paid by a company resident in one side to a company resident in the other side. In particular, the new DTA will: Reduce withholding tax on dividends paid to beneficial owner holding directly at least 25% of the capital of the company that is paying dividends th

According to data released by Thailand’s Ministry of Commerce, the country's total international trade expanded by 27 per cent year on year to USD 66.4 billion in January 2026, marking the 19th consecutive month of growth. During the first month of 2026, exports climbed 24.4 per cent year-on-year to USD 31.6 billion, while imports picked up 29.4 per cent to USD 34.9 billion, yielding a trade deficit of USD 5 billion. Key drivers of growth continued to be driven mainly by elec

According to data from Malaysia’s Department of Statistics, the country’s total international trade during the first month of 2026 recorded a growth of 12.6 per cent, with exports rose by 19.6 per cent and imports expanded by 5.3 per cent year-on-year. The robust trade performance and the export rise was mainly driven by strong demand for manufactured goods, especially electrical and electronic (E&E) products, as well as optical and scientific equipment and machinery China re

China's 15th Five-Year Plan, covering the period 2026 to 2030, represents the country's comprehensive strategy for economic, technological, social, and environmental development. Since 1953, China has utilized five-year plans to map long-term national strategies, and the 15th edition follows a structured and carefully orchestrated approval timeline that reflects the methodical nature of Chinese policymaking. The process began in October 2025, during the 5th Plenum of the 20th

According to the latest data released by the National Economic and Social Development Council, Thailand’s economy grew by 2.4 per cent in 2025.   Growth was supported by private investment and consumer spending. On a quarterly basis, GDP increased by 2.5 per cent in the fourth quarter, compared with 1.2 per cent in the previous quarter.   Agricultural production remained strong, rising by 2.5 per cent during the whole 2025. Similarly, the manufacturing sector showed improveme