In this week’s German Tax update, we discuss the following: Disposal Gains in Tiered Partnerships: BFH Provides First Clear Guidance on Trade Tax Treatment, and CJEU Confirms: Denial of VAT Deduction and Joint and Several Liability in Cases of VAT Fraud Are Compatible.

Learn the Indirect Transfer Rules in key APAC jurisdictions and the potential tax implications of re-domiciling a nonresident company to Hong Kong.

With the ‘One Big Beautiful Bill Act’ (OBBBA), the US Congress is passing far-reaching tax changes. There is also an acute need for action for companies based in Germany with US subsidiaries, permanent establishments or IP structures.

The Monetary Authority of Singapore (MAS) has provided further information regarding the new financial sector incentives (“FSI”) announced during 2025 Budget Statement in the MAS Circular released on 3 July 2025.