For the period 1 July to 31 July 2015
The IRAS revised its circulars on "Income Tax & Stamp Duty: Mergers and Acquisitions Scheme";
The Hong Kong government extended profits tax exemption for offshore funds to private equity funds, with retrospective effect;
China's State Administration of Taxation issued a public notice (SAT Gong Gao  No. 47) clarifying that with effect from 19 July 2015, the interest derived by an overseas branch of a Chinese bank from Chinese entities is not subject to withholding tax;
The New Zealand government released an issues paper seeking feedback on the new bright-line test on the sale of residential property;
The UK Budget, released on 8 July 2015, announced a tax rate cut and focused on tackling tax avoidance and aggressive tax planning.