Asia Pacific: General tax update | KPMG | BE

Asia Pacific: General tax update for financial institutions (January 2018)

Asia Pacific: General tax update

A summary of tax developments of interest to financial institutions in the Asia Pacific region includes:

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  • Australia: An exposure draft of legislation to implement the regulatory framework for corporate collective investment vehicles and the Asia region funds passport; changes to the attribution managed investment trust regime
  • China: Guidance on implementing matters on discounting business of commercial and interbank bills; regulations on supervision of financing guarantee companies; regulation on liquidity risk management of publicly offered open-end securities investment funds; measures for compliance management of securities investment fund management companies
  • Hong Kong: Consultation report on base erosion and profit shifting (BEPS) for transfer pricing regime
  • India: Conditions for investment funds established by certain foreign portfolio investors; capital gains of Netherlands entity on sale of shares in its Indian subsidiary not taxable in India; transfer of shares by Mauritian company under group reorganization not taxable in India
  • Indonesia: Amended controlled foreign company rules; new form DGT-1 for non-resident taxpayers
  • Korea: Tax revision proposal

 

Read a January 2018 report [PDF 1.7 MB] prepared by the KPMG member firm in Hong Kong

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