AGN Taxpresso: 2026 – Issue 2

AGN Taxpresso is a quarterly publication featuring content provided by AGN Asia Pacific Tax Committee members. Keep yourself and your clients in the know with:

• Up-to-date information on tax developments in Asia Pacific countries.
• Current corporate world issues and hot topics affecting the respective countries’ economies and global development – including insight into the potential impact this could have.
• Annual budget announcements.

In this issue…

CHINA: Export Tax Refund Reform under the New VAT Law

China’s updated export tax refund framework introduces significant structural changes under the new VAT Law. The newly issued Administrative Measures expand the scope from goods and services to a broader “export business” concept, reflecting the growing importance of cross-border services. This overview highlights key compliance changes, procedural updates, and industry-specific impacts, including adjustments to refund rates and administrative requirements for export enterprises.
Contributed by Patrick Pan, Acclime.

HONG KONG: Regulated Businesses – Licensing and Banking Essentials for 2026

Hong Kong’s regulatory environment continues to evolve, with greater alignment across licensing, compliance, and banking requirements. Higher onboarding thresholds, clearer licensing pathways, and increased expectations around operational substance are shaping market entry and expansion. This overview outlines key regulatory developments across sectors such as asset management, precious metals, and virtual assets, and the implications for businesses operating in or entering the Hong Kong market.
Contributed by Florian Braunsteiner, Acclime.