News Overview Between March 25 and 26, 2025, the tax authorities in Hubei, Shandong, Shanghai, and Zhejiang launched a coordinated campaign within a 48-hour window to investigate unreported foreign income of Chinese tax residents. In September 2014, China officially committed to adopting the Automatic Exchange of Financial Account Information...
Abstract This article summarizes key tax and regulatory developments in the global crypto assets industry during the first half of April 2025. On the taxation front, several countries are accelerating efforts to strengthen oversight of crypto assets. The South African Revenue Service now mandates that all taxpayers...
News Summary News 1 On April 10, 2025, U.S. President Trump signed a congressional joint resolution overturning a regulation from the Biden administration that required decentralized finance (DeFi) protocols to report relevant information to the U.S. tax authority, the Internal Revenue Service. Under the original regulation,...
Unraveling the Green United Case: A Crypto Minefield In 2023, the U.S. Securities and Exchange Commission (SEC) launched a landmark lawsuit against crypto firm Green United LLC, accusing it of perpetrating large-scale fraud via the sale of “Green Boxes” crypto mining machines, with the case involving a...
1 Overview of Malaysia’s Tax System – Malaysia’s Tax System Malaysia’s tax categories are divided into direct and indirect taxes. Direct taxes include income tax, real estate gains tax, and petroleum income tax, while indirect taxes include excise duty, customs duty, import and export duties, sales tax,...
1 The Trump Tariff Policy: Content and Motivation – Policy Content On April 2, 2025, U.S. President Trump signed two executive orders at the White House, announcing the establishment of a 10% “minimum benchmark tariff” on trade partners, with higher tariffs imposed on certain countries. The displayed tariff...
News Summary On March 19, 2025, Ripple’s CEO Brad Garlinghouse posted on the X platform to announce that the U.S. Securities and Exchange Commission (SEC) will abandon its appeal against Ripple. In July 2023, a court ruled that XRP itself does not constitute a security, although some direct...
Introduction One of the core economic strategies of the Trump administration has been its tough trade policy. During his first term, the U.S.-China trade war, centered around tariffs, drew global attention. Now, as Trump returns to the White House, his protectionist stance has become even more pronounced, with...
Abstract This article summarizes key tax accounting and supervision developments in the global crypto assets industry during the second half of March 2025. On the tax front, the Trump administration plans to impose a 10% “benchmark tariff” on all countries and higher “reciprocal tariffs” on nations with...