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TaxNewsFlash-Asia Pacific — KPMG's reports of tax developments in the Asia Pacific region.


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TaxNewsFlash-Asia Pacific

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November 2017

28 Nov - Singapore: “Customer accounting” for goods and services tax (GST)

28 Nov - Thailand: Preferential tax regimes, status under BEPS “harmful tax practices” standard

28 Nov - Thailand: Proposals concerning VAT and foreign e-commerce transactions

28 Nov - India: Tax treatment of asset transfer, from non-resident to resident

17 Nov - India: Goodwill depreciation; tax treaty provisions, secured notes redemption

16 Nov - China: New withholding tax administrative guidance

15 Nov - China: VAT guide (2017), overview of indirect tax system

15 Nov - Hong Kong: IRD guidance on concessionary tax regime for aircraft leasing activities

14 Nov - Japan: Overview of taxation system (2017)

13 Nov - Singapore: Tax incentives meet international BEPS standards

13 Nov - Singapore: Tax relief for corporate re-domiciliations

10 Nov - Australia: GST liability for offshore sellers, low value imported goods

10 Nov - India: U.S. state taxes paid eligible for foreign tax credit

9 Nov - Gulf Cooperation Council (GCC): VAT and indirect tax updates

9 Nov - Kuwait: New processes for tax appeals, tax payment

9 Nov - Oman: New rules for withholding tax

9 Nov - Saudi Arabia: Income tax changes include measures affecting oil and hydrocarbon sector

9 Nov - Egypt: New capital gains tax rules; stamp tax changes

7 Nov - Indonesia: Guidelines for tax audits of individual taxpayers

3 Nov - India: Oil rig fees; CBDT guidance cannot apply retroactively

1 Nov - Bangladesh: Provisions continue tax holidays; changes to corporate tax rate; new tax exemption relating to infrastructure projects

1 Nov - Malaysia: Tax provisions in 2018 budget

1 Nov - Thailand: Income tax treaty with Cambodia

1 Nov - Sri Lanka: Tax reform measures, effective April 2018

October 2017

31 Oct - India: No permanent establishment under tax treaty with United States, back-office support services

31 Oct - Philippines: Proposed excise tax on sugar-sweetened beverages

30 Oct - New Zealand: Post-election tax policy

30 Oct - Singapore: Air conditioning and peripheral machinery, proposed property tax liability

27 Oct - Malaysia: Earnings stripping rules

24 Oct - Australia: NSW stamp duty refunds, “reputable developers” of real estate

24 Oct - India: “Place of effective management” clarifying guidelines

24 Oct - Indonesia: VAT exemption for “basic necessities”

18 Oct - Japan: New income tax treaty signed with Denmark

17 Oct - Australia: ATO change in audit procedures, “real-time compliance”

17 Oct - Hong Kong: Regional headquarter tax incentive would benefit local economy

16 Oct - India: In-house R&D guidelines; rules for claiming depreciation

16 Oct - Singapore: Direct link required for money borrowed and income produced; interest expense from capital restructuring denied

13 Oct - Asia Pacific: Tax update for financial institutions (October 2017)

13 Oct - Hong Kong: Tax measures proposed in 2017 tax policy

12 Oct - UAE: VAT registration deadlines; first due date is 31 October

12 Oct - Australia: Identifying taxpayers that must file “general purpose financial statements”

11 Oct - Australia: Changes to wine equilisation tax rebate rules, effective July 2018

11 Oct - Australia: R&D activities registration deadline is 31 October 2017

11 Oct - China: Tax incentives expanded, foreign investments in advanced technology services

9 Oct - India: Dividend distribution tax; foreign tax credit verification

2 Oct - Turkey: Draft legislation includes increased tax rates for companies, individuals

2 Oct - Turkey: Rights to taxation under network of income tax treaties

September 2017

26 Sep - Japan: Tax treaty signed with Russia

26 Sep - Korea: Foreign tax credits and withholding tax under tax treaty

26 Sep - China: Tax planning, negotiations for sales and purchase agreements

21 Sep - India: REIT amendments; GST forms and review

20 Sep - Australia: Foreign-owned groups and tax consolidation; proposed “churning measures”

20 Sep - UAE: Registration user guide; excise tax law effective 1 October 2017

19 Sep - China: Monthly summary of trade and customs developments (August 2017)

19 Sep - Australia: Corporate collective investment (CCIV) regime; an alternative to managed investment trust (MIT) regime?

15 Sep - Australia: Consolidation integrity measures; treatment of liabilities when entity joins tax consolidated group

15 Sep - Vietnam: Mandatory contributions to natural disaster fund

14 Sep - Thailand: Update on labor law provisions, implications for employers

13 Sep - Australia: GST safe harbor rate of 18% for customer-owned banking institutions

13 Sep - India: Tax treatment of compounding fee, non-compete fee, foreign taxes

13 Sep - New Zealand: Tax positions of the political parties, 23 September election

12 Sep - Vietnam: Proposals to amend direct and indirect taxes

11 Sep - Taiwan: Tax reform proposals affecting both corporate and individual taxpayers

6 Sep - Australia: “Super guarantee gap” reforms released by tax authorities

6 Sep - Australia: Real-time payroll reporting by large employers to ATO effective 1 July 2018

6 Sep - Thailand: New customs law effective November 2017

6 Sep - Thailand: Tax, legal requirements for representative offices of foreign companies

1 Sep - Taiwan: Tax audits of representative offices of foreign companies (PDF 216 KB)

August 2017

31 Aug - Australia: Draft legislative framework for implementing corporate collective investment vehicle (CCIV) regime

28 Aug - China: Dividend withholding tax deferral for reinvestments; goal is to encourage foreign direct investment

25 Aug - China: Foreign direct investment incentives; limits on foreign equity stakes in Chinese enterprises to be lifted

25 Aug - Singapore: Tax incentives proposed for companies relocating to Singapore

25 Aug - Vietnam: Guidance on financial audits of foreign-invested enterprises

24 Aug - Australia: ATO guidance for superannuation funds using “propagation arrangements” for reporting capital gains

23 Aug - India: Profits from offshore, onshore services attributable to permanent establishment

23 Aug - Indonesia: Amended controlled foreign company (CFC) rules 

23 Aug - UAE: New framework for tax system

22 Aug - China: Implications of WCO advisory opinion, royalties and license fees

22 Aug - India: Aligning book profit computation for tax, accounting purposes

20 Aug - Bahrain: Preparing for complying with VAT

20 Aug - Qatar: Expectations for VAT system

18 Aug - Indonesia: New “certificate of domicile” forms for non-resident taxpayers

18 Aug - Singapore: “Global trader programme” expanded, concessionary income tax rates

17 Aug - Australia: Employer obligations for cross-border executives

17 Aug - Thailand: Proposal to allow companies to adopt foreign functional currency for corporate income tax purposes

17 Aug - UAE: VAT legislation expected in autumn 2017

11 Aug - India: R&D expense deduction; no permanent establishment under treaty with Japan

10 Aug - China: Customs clearance integration regime, launched on nationwide basis

10 Aug - Australia: Capital gains tax proposal, “small interests” of foreign residents in Australian real property

9 Aug - Australia: New “Reportable Tax Position” schedule to be filed with corporate tax return 

4 Aug - Australia: Changes to attribution managed investment trust (AMIT) regime

3 Aug - Australia: Taxation of discretionary trust distributions proposal

3 Aug - India: Share transfer, reorganisation; capital gains and book profit computation

3 Aug - Vietnam: Gross-ups and compulsory insurance contributions, salaried employees

1 Aug - China: Tax policies and lifecycle of public-private partnership projects in China

1 Aug - Pakistan: Company Act, 2017 rules apply for companies with financial year closing after 30 June 2017

July 2017

28 Jul - Australia: Proposal to remove capital gains tax, main residence
exemption for foreign residents

28 Jul - Indonesia: Cost recovery, income tax: upstream oil and gas activities

28 Jul - Kazakhstan: Tax legislative update, amendments

28 Jul - Korea: Foreign income calculation, research tax credit, trustee’s VAT liability 

27 Jul - India: Withholding tax issues concerning PAN numbers, GST on services, limitations

27 Jul - Indonesia: Cost recovery, income tax of upstream oil and gas activities; access to financial information for tax purposes; taxpayer domicile certificates

27 Jul - Australia: “Early stage investor tax incentive” reports due 31 July 2017

25 Jul - Australia: Application of similar business test in accessing tax losses, bad deductions, net capital losses

25 Jul - Australia: Debt, equity and hybrid mismatches; Australia's treatment of hybrid loans

25 Jul - Saudi Arabia: Draft regulations for implementing VAT regime

19 Jul - Japan: CFC regime measures amended, 2017 tax reform

19 Jul - Malaysia: Corporate governance update, 2017

19 Jul - Saudi Arabia: Excise tax update

18 Jul - India: Minimum alternate tax computation; unquoted shares valuation; other developments

14 Jul - Japan: Agreement with EU would remove, reduce customs tariffs 

13 Jul - Thailand: New law concerning employers and foreign employees

13 Jul - Vietnam: Tax and transfer pricing implications of technology transfers, new law

7 Jul - Hong Kong: Profits tax exemption, privately offered open-ended fund companies

6 Jul - Australia: Diverted profits tax, effective from 1 July 2017

6 Jul - China: Opportunities for private enterprises, multinational entities, individuals to partner in joint ventures with state-owned enterprises

6 Jul - India: Service permanent establishment found, despite no physical presence

6 Jul - Thailand: Potential implications of draft legislation on foreign e-commerce companies

6 Jul - Vietnam: Foreign contractor tax liability, goods imported before October 2014

5 Jul - China: VAT rules for asset management products; guidance affecting banks, securities investment funds, trusts, equity funds, others

5 Jul - EU: Customs cooperation agreement with New Zealand

5 Jul - Japan: Retroactive transfer price adjustments, from customs valuation perspective

5 Jul - Thailand: Proposals concerning tax treatment of e-commerce transactions, businesses

4 Jul - Bangladesh: Finance Bill 2017 preserves current tax holidays for certain investments, minor adjustments to corporate tax rates

4 Jul - Egypt: Regulations on implementing VAT regime

4 Jul - Gulf Cooperation Council (GCC): Framework agreement for VAT on goods and services; standard rate of 5% to apply beginning 2018

4 Jul - Kuwait: Update on draft excise tax bill; tax authority’s policy on corporate tax retentions

4 Jul - Oman: Guidance on withholding tax; electronic filing requirements; taxation of Islamic finance transactions

4 Jul - Sri Lanka: Updates on Economic Service Charge, Nation Building Tax; new tax law proposed

June 2017

30 Jun - Hong Kong: Concessionary tax regime for aircraft leasing enacted; effective from 2017/18 assessment year

29 Jun - Australia: ATO identifies issues concerning securitised licence structure of public private partnership (PPP) projects

29 Jun - Australia: Changes to ATO's reportable tax position schedule

29 Jun - Australia: New draft ruling regarding employee travel expenses

29 Jun - Australia: Tax provisions in 2017 NSW budget

29 Jun - Australia: Tax provisions in South Australia state’s 2018 budget

26 Jun - Vietnam: Corporate and individual income tax guidance, VAT and customs

21 Jun - Thailand: Qualifying services are exempt from foreign business license requirement

21 Jun - Vietnam: Incentives, tax support for SMEs in new law

20 Jun - Indonesia: Book value for asset transfers, acquisitions in corporate reorganizations

20 Jun - Azerbaijan: Proposed changes to customs code

19 Jun - Azerbaijan: Applying for VAT exemption, VAT zero-rated electronically

19 Jun - Australia: Only legal owner of goods at time of export may file claims for duty drawbacks

19 Jun - Japan: Amended scope of inheritance tax, gift tax for property located outside Japan

16 Jun - India: GST regime update; royalty under tax treaty with Germany

16 Jun - India: “Place of effective management,” determining foreign company’s tax residence

16 Jun - Australia: Tax provisions in Queensland’s 2017 budget

15 Jun - Australia: ATO position on groups with foreign-incorporated subsidiaries; central management and control determines tax residency 

9 Jun - Australia: First budget changes to foreign resident CGT withholding tax

9 Jun - Australia: NSW housing affordability measures ahead of 2017 state budget

9 Jun - China: Corporate tax, VAT incentives are effective in 2017

9 Jun - Singapore: Changes to financial sector incentive (FSI) schemes

9 Jun - Vietnam: Taxation in digital economy

7 Jun - China: Realignment of new energy vehicles sector possible in 2017

7 Jun - Pakistan: Provincial finance bills 2017, Sindh and Punjab provinces 

6 Jun - India: No depreciation allowed for government authorisations

6 Jun - Kazakhstan: Tax treatment of bank restructurings; VAT registration rule changes

6 Jun - Philippines: Tax-free exchanges; transfers to a controlled corporation, and transfers pursuant to a merger or consolidation

6 Jun - Saudi Arabia: Unified VAT agreement of GCC states (text in English)

6 Jun - Thailand: New, expanded customs measures effective in November 2017

6 Jun - Australia: R&D issues to consider for financial year-end

5 Jun - Australia: "Major bank" tax levy

2 Jun - Australia: ATO guidance on “fair and reasonable” apportionment of superannuation fund expenses

2 Jun - New Zealand: Proposals for feasibility expenses and start-ups’ share schemes

May 2017

30 May - Korea: Decisions on information returns, holding companies, tax-exempt business income

30 May - Pakistan: Tax provisions in budget 2017

30 May - Australia: Status, update on attribution managed investment trust (AMIT) regime

29 May - Australia: Tax treatment of stock rights and “retail premiums” under renounceable rights offers

29 May - Thailand: Amendments to business laws (table fomat)

29 May - Thailand: Extension of time, corporate taxpayers filing audited accounts electronically

29 May - UAE: Excise tax on tobacco, energy and carbonated drinks, other goods

26 May - China: Preferential tax treatment on premiums paid for health
insurance; companies can assist employees purchasing qualified insurance

25 May - Australia: Employer held liable to its employees’ former employer, for their breach of confidential information

25 May - India: Expense reimbursements not taxable; transfer pricing study showed no profit element

24 May - Hong Kong: Expanded scope of aircraft leasing regime; operating leases for all airlines, without regard to tax treaty status

23 May - Japan: Proposed customs declarations regime for AEO-approved importers, exporters

19 May - Australia: ATO's position on corporate limited partnership credit; limited partnerships taxed as companies, partners as shareholders

18 May - Australia: Stapled structures; updated from consultation paper

17 May - Australia: Qualifying for the small business tax rate

17 May - India: Character of income, sub-licensing of property; foreign exchange loss

17 May - India: Dividend distribution tax; GST input credit matching

17 May - Singapore: Tax treatment of employer contributions to foreign pension funds

16 May - Philippines: Dividends, interest, royalties; new procedures for tax treaty relief

9 May - Australia: Tax provisions in federal budget 2017

8 May - Australia: Federal budget 2017 to be delivered 9 May

8 May - India: Equity share valuations; “tax holiday” determinations

8 May - Myanmar: De minimis threshold, exemptions, other withholding tax changes

5 May - China: Simplified visa application process for foreign workers

4 May - Australia: Stamp duty and land tax changes proposed in Victoria, Northern Territory budgets

2 May - Hong Kong: Concessionary tax regime for aircraft leasing activities

April 2017

28 Apr - Australia: Report on operation of petroleum resource rent tax (PRRT)

28 Apr - India: Fixed place PE; going concern vs. slump sale

28 Apr - Thailand: New tax rules on permanent establishment and e-commerce to be introduced

28 Apr - Vietnam: Guidance on depreciation, corporate income tax incentives, input VAT

26 Apr - India: Waiver of interest by amalgamating company; place of effective management

26 Apr - Australia: Senate hearing on taxing online low-value imported goods

19 Apr - Australia: U.S. and UK perspectives on cross-border vessel leasing

18 Apr - Australia: Proposed superannuation amendments to implement “transition retirement income streams”

17 Apr - India: GST update; merger of foreign company with Indian company

17 Apr - Singapore: Framework for new corporate structure (S-VACC), tax perspectives 

17 Apr - Taiwan: VAT amendments affecting e-commerce are effective 1 May 2017

17 Apr - Australia: Proposed legislation on loss recoupment rules; flexible “similar business test”

13 Apr - Australia: Increased administrative penalties for significant global entities

13 Apr - Australia: Increased benefits under R&D tax incentive

11 Apr - Australia: “Justified trust” initiative; focus on tax performance and tax governance

11 Apr - India: Application of foreign tax credit under U.S. tax treaty

11 Apr - India: “House rent allowance” exemption; royalty under India-Italy tax treaty

11 Apr - Singapore: Changes to rules on foreign direct investment in India

10 Apr - Singapore: Interest expense from capital restructuring disallowed

10 Apr - New Zealand: Draft legislation, new employee share scheme and PAYE reporting

4 Apr - India: Patent box regime rules

4 Apr - India: Simplified income-tax return forms

4 Apr - Singapore: Enhancements to global trader programme, finance and treasury centre incentive

3 Apr - Hong Kong: Human resources and global mobility BEPS issues

March 2017

31 Mar - China: Incentive regime for establishing regional headquarters in Shanghai

31 Mar - India: Amortisation involving share premium; taxation of payments for advertising

31 Mar - Japan: Tokyo local tax rate changes for companies, postponed

31 Mar - Thailand: Penalties not deductible expenses

30 Mar - Indonesia: PE status for applications, content services provided via internet

29 Mar - China: Announcement reflects certain BEPS-related items on intangibles; consolidates previous regulations on self-adjustments and
outbound payments

29 Mar - China: Rules of origin of imported goods from least developed countries

29 Mar - India: FAQs on income computation; Finance Bill 2017 amendments

29 Mar - Japan: Corporate tax items in now approved tax reform legislation

29 Mar - New Caledonia: General consumption tax, effective 1 April 2017

29 Mar - Singapore: Residential property “cooling measures” include duty (tax) items

29 Mar - Vietnam: Corporate tax incentives; foreign contractor tax on bank charges

28 Mar - Australia: Pending legislation to reduce corporate tax rate,
increase R&D benefit for SMEs

24 Mar - Australia: Employee share scheme reporting preparation

24 Mar - Australia: Managed investment trusts eligibility requirements

24 Mar - Australia: Superannuation changes to self-managed super funds beginning July 2017

17 Mar - India: Withholding tax rates, treatment of payments under tax treaties

17 Mar - Singapore: Guidance on tax treatment of REITs, approved sub-trusts

17 Mar - Singapore: Tax incentives to encourage development of intellectual property

16 Mar - Australia: Foreign companies with “central management and control” in Australia; new guidance issued

16 Mar - Australia: Former judges appointed to review court settlements between taxpayers and ATO

15 Mar - New Zealand: Year-end wrap; planning for 2018

14 Mar - Japan: Proposed changes, trade control and import/export procedures

13 Mar - Thailand: Potential criminal liability of company representatives

8 Mar - India: Payments for telecommunication system; foreign investments in LLPs

7 Mar - Myanmar: Development zones established under investment law

6 Mar - Myanmar: Withholding tax changes effective April 2017

2 Mar - Bangladesh: Corporate tax rate changes; tax holiday; VAT law
effective July 2017

2 Mar - India: Permanent establishment, agency present under tax treaty with United States

2 Mar - Singapore: Determining the tax deductibility of common interest expenses

2 Mar - Sri Lanka: Update on VAT and NationBuilding Tax (NBT); proposals in 2017 budget

1 Mar - Egypt: VAT introduced, new rules for settling tax disputes

1 Mar - Gulf Cooperative Council: GCC countries prepare for VAT in 2018

1 Mar - Jordan: New tax treaties, tax rates, investment incentives

1 Mar - Kuwait: Tax cards, tax declarations, investment promotion applications

1 Mar - Oman: 2017 budget highlights

1 Mar - Saudi Arabia: Follow-up, tax and zakat postponed for listed companies

1 Mar - UAE: Updates on tax treaties, information exchange agreements; new free zone

February 2017

28 Feb - Oman: Increased tax rate; taxes imposed on dividends and interest

28 Feb - India: Cash transactions and demonetisation; beneficial treaty rate applies

28 Feb - Australia: Plan to ban imports, sales of cosmetic products containing ingredients tested on animals

28 Feb - Australia: Proposed changes to New South Wales state taxes

28 Feb - Australia: Superannuation changes beginning 1 July 2017; issues for unsegregated superannuation funds

24 Feb - Vietnam: Corporate income tax incentives; VAT and customs updates

23 Feb - Singapore: Tax measures in 2017 budget

23 Feb - Singapore: Income tax treaties, tax provisions (table)

23 Feb - India: Protocol to tax treaty with Israel; GST update

22 Feb - Australia: ATO guidance for “early stage venture capital limited partnerships”

22 Feb - Australia: R&D tax incentives for agriculture and software industry sectors

22 Feb - Hong Kong: Budget summary 2017-2018; includes discussions of tax provisions

22 Feb - Bahrain: Region-wide VAT advances, Gulf Cooperative Council (GCC) countries

22 Feb - China: Pilot program, importing non-special cosmetics in Pudong (Shanghai)

21 Feb - Australia: Pending legislation to end GST exemption on “low value” imported goods

21 Feb - India: Technology services provided from Hong Kong; securities as stock-in-trade

20 Feb - Thailand: Itemizing actual expenses by self-employed; new individual (personal) income tax regime

16 Feb - Japan: Delay to tax rate changes for companies in Tokyo

15 Feb - Hong Kong: Accountability of senior management, licensed corporations

15 Feb - Hong Kong: Expectations for the budget, to be presented 22 February 2017

15 Feb - Hong Kong: Tax residency certificate requirements

15 Feb - India: Determining permanent establishment, bandwidth connectivity charges under tax treaties

15 Feb - Vietnam: No VAT refund, when input VAT not declared in declaration (for June 2016 or second quarter of 2016)

14 Feb - Vietnam: Contracts for international sale of goods; agreement ratified

13 Feb - Australia: R&D activities in the building and construction industries

13 Feb - China: Customs policies update, for early 2017

13 Feb - Singapore: Fees for access to funds held not deductible

13 Feb - Singapore: Financial technology sector and tax incentives

10 Feb - Korea: Tax changes affecting loss carryforwards, excess retained earnings, others

9 Feb - Japan: Tax treatment of income from U.S. limited partnerships

9 Feb - Thailand: Tax incentives for investment activities

9 Feb - Australia: Proposed “diverted profits tax” legislation introduced

8 Feb - Australia: ATO draft ruling on depreciation of “composite assets”

8 Feb - Indonesia: Import duty, VAT exemption for coal mining sector 

7 Feb - China: Guidance implementing the R&D “super deduction”

7 Feb - Thailand: Corporate tax deduction for new capital expenditures extended to 31 December 2017

7 Feb - Thailand: Revised deductible expenses, allowances for individual (personal) income tax purposes

6 Feb - India: Q&As on anti-avoidance rules; withholding and tax treaty provisions

6 Feb - Saudi Arabia: New taxes believed necessary to support economy

3 Feb - Australia: Tax risks associated with common infrastructure and privatisation transactions, ATO draft framework

2 Feb - India: Union Budget 2017-2018

1 Feb - Australia: ATO's new approach to effective tax governance

January 2017

30 Jan - Australia: Proposed framework for limited partnership collective investment vehicles

30 Jan - Thailand: Proposed changes to minimum wage, employer’s work rules, and retirement standards

26 Jan - Saudi Arabia: Requiring listed companies to pay zakat and tax based on shareholders nationalities postponed

25 Jan - Hong Kong: New tax regime proposed for offshore aircraft leasing

25 Jan - India: Determining “place of effective management;” export commission

24 Jan - China: Work permits allowed for qualified foreign graduates 

24 Jan - Thailand: Preparing individual (personal) income tax reporting for 2016

19 Jan - China: Import tax policy, “13th Five-Year Plan”

18 Jan - Oman: Tax and revenue provisions in 2017 budget

18 Jan - Saudi Arabia: Listed companies to consider shareholders’ portfolio when filing zakat and tax declarations

17 Jan - Australia: Reminder for employers; superannuation guarantee obligation compliance

17 Jan - China: Rules to strengthen supervision of foreign currency transactions

16 Jan - China: Transaction tax relief, Shenzhen-Hong Kong Stock Connect

16 Jan - India: Depreciation on goodwill; foreign tax credit; R&D credit treatment

16 Jan - Singapore: Pre-budget 2017 report

11 Jan - Australia: High Court decision concerning “unit trusts”

10 Jan - Singapore: Changes to R&D tax incentive regime

6 Jan - Singapore: Protocol amending tax treaty with India

4 Jan - India: Protocol to tax treaty with Singapore; indirect transfer FAQs

2016 Articles

December 2016

22 Dec - China: VAT reform rules; retroactive changes effective 1 May 2016  

21 Dec - India: Computing section 10A deduction; intra-group services; “deemed profit” rate

21 Dec - New Zealand: Customs and excise tax bill referred for consideration

20 Dec - Malaysia: Withholding tax, royalty and service fee payments to non-residents

20 Dec - New Zealand: Opportunities Party’s asset tax policy

20 Dec - New Zealand: Tax administration transformation proposals released

19 Dec - India: Tax treatment of subsidiary’s losses; foreign exchange gains

15 Dec - Japan: Overview of the taxation system (2016)

14 Dec - Australia: Overseas company is tax resident because of “central management and control”

14 Dec - Japan: Outline of tax reform proposals for 2017

14 Dec - Taiwan: VAT to include foreign e-commerce businesses

12 Dec - China: VAT treatment of prepaid cards

12 Dec - India: “Slump sale” taxation; income distribution by securitisation trust

12 Dec - Japan: Anti-tax haven (CFC) proposals in 2017 tax reform

12 Dec - Japan: Taxable income of non-permanent individual residents, 2017 tax reform

12 Dec - Vietnam: Capital gains tax, offshore transfers of shares or capital

8 Dec - Australia: Tariff reductions, changes effective beginning in 2017

8 Dec - India: Tax treaty with Cyprus; depreciation of intangible asset

7 Dec - Hong Kong: Mainland China, Hong Kong investors to trade stocks on each other’s market

2 Dec - China: Summary of weekly tax developments

1 Dec - Australia: ATO's latest settlement statistics

1 Dec - Australia: Draft legislation amending GST on low value goods

1 Dec - Indonesia: VAT refunds; reimbursements to production sharing contractors, upstream oil and gas activities

1 Dec - Myanmar: Trade restrictions lifted, opportunities for importers

1 Dec - Vietnam: Corporate income tax, VAT, customs guidance

November 2016

30 Nov - Australia: Diverted profits tax advances, implications for foreign companies

30 Nov - Japan: Guidance, application forms relating to tax agreement with Taiwan

29 Nov - Australia: New attribution managed investment trust (AMIT) regime; pricing of transactions between stapled entities

29 Nov - India: Tax bill addressing “black money” and other items

29 Nov - Myanmar: Withholding tax update for large taxpayers

29 Nov - New Zealand: Business tax legislation update

29 Nov - Vietnam: More post-customs clearance audits expected in remainder of 2016

28 Nov - China: Tax treaties and implications of OECD’s multilateral instrument

28 Nov - New Zealand: Update on tax legislation, closely held companies

28 Nov - Sri Lanka: Revised “nation building tax” threshold; no rate change

28 Nov - Sri Lanka: VAT legislative changes

28 Nov - Thailand: Corporate meetings via electronic media formally adopted by Ministry of Commerce department

18 Nov - India: Computer software transfer abroad eligible for section 10A tax benefits

18 Nov - Japan: Consumption tax, delayed rate increase to 2019; new invoicing system for 2023

18 Nov - Japan: Delayed consumption tax rate increase affects local corporation taxation

18 Nov - New Zealand: Inland Revenue focus on tax governance

18 Nov - Vietnam: Transfer of right to use trademark subject to VAT

17 Nov - China: Pilot program, employment permits for foreigners launched in Shanghai

17 Nov - China: Tax incentives for employee equity awards, certain capital contributions

17 Nov - Thailand: Tax, customs departments now have access to each other’s database

16 Nov - China: Summary of weekly tax developments

16 Nov - Australia: Government's inconsistent “super fund” policy concerning capital gains tax rollover relief

16 Nov - Australia: Large infrastructure and property transactions, interest withholding tax exemption

16 Nov - India: Maximum depreciation rate limited to 40%; R&D weighted deduction

15 Nov - China: AEOI guidance, due diligence and financial accounts of non-residents

15 Nov - Japan: Enhanced penalties for deficient customs declarations or non-declarations

14 Nov - Gulf Cooperation Council (GCC) countries propose introduction of VAT

11 Nov - Australia: Labor's “super reform” package mistakes targeted policies for tax loopholes

11 Nov - China: VAT pilot program launched in seven bonded customs zones

11 Nov - India: Subsidiary's managing director gives rise to permanent establishment

11 Nov - Malaysia: Double tax deduction incentive available for qualifying expenses of companies

11 Nov - Philippines: Taxpayer identification numbers; cooperative members and certificates of tax exemption 

8 Nov - Australia: Proposed withholding tax changes, implications for collective investment vehicles (CIVs)

8 Nov - China: Summary of weekly tax developments

7 Nov - China: New self-declarations to replace customs clearance procedures, pilot program

4 Nov - Australia: Lease incentives for lessees

4 Nov - India: Rules for deferring payment of customs duty

3 Nov - Papua New Guinea: Budget for 2017, tax proposals

2 Nov - Australia: Determining when unit trust is fixed under trust loss provisions

2 Nov - UAE: New tax authority established; VAT scheduled for 2018

1 Nov - Malaysia: No change to GST rate; reduced tax on SMEs in budget for 2017

1 Nov - India: “Brand value” depreciation; management services under treaty with Finland

1 Nov - Vietnam: Taxation of branch offices, permanent establishments; customs duty updates

October 2016

28 Oct - Singapore: Anti-avoidance provision applied in income tax case

28 Oct - Thailand: Information sharing between Customs, Revenue departments results in assessments

26 Oct - India: Tax treatment of sale of partnership assets; expeditious refunds

25 Oct - Australia: Alternative GST calculation of overseas freight and insurance, if unknown at import

24 Oct - Australia: Register R&D activities before 31 October deadline, for full rate of incentive

24 Oct - China: Customs audit regulations effective 1 November 2016

24 Oct - Malaysia: Tax proposals in 2017 budget 

20 Oct - Australia: ATO's new guidance on calculating fringe benefit tax for cars

20 Oct - Indonesia: Reduced rate of tax on income from land, building rights transfers

19 Oct - Australia: ATO draft ruling regarding eligibility for exemptions on foreign dividends

19 Oct - China: Tax rules, implications for private equity funds

19 Oct - Myanmar: Effects of removal of U.S. sanctions on investments in Myanmar

19 Oct - Thailand: Royalties to include rentals under the new income tax treaty with Singapore

18 Oct - India: Depreciation of goodwill; curative provision applies retroactively; lump-sum payments

17 Oct - Malaysia: Expectations for tax proposals in upcoming budget

17 Oct - Japan: Customs scrutiny of certificates of origin from exporters, manufacturers

13 Oct - Japan: New income tax treaty signed with Belgium

12 Oct - Australia: Guidelines on foreign stamp duty surcharge in Queensland

11 Oct - Australia: Taxation of payments made to an Indian company; royalty vs. business profits

11 Oct - Taiwan: VAT on foreign e-commerce, online transactions

11 Oct - UAE: Additional FAQs about VAT planned for 2018

10 Oct - China: Measures in Guangdong to attract foreign personnel, talent

6 Oct - India: Income tax computation guidance; tax treatment of interest to partners and share issuance

6 Oct - New Zealand: Revised Inland Revenue position, feasibility expenditure deductions

6 Oct - Thailand: Tax loss carryforwards and “flat” individual income tax rate under IHQ, ITC regimes

5 Oct - Australia: GST rules related to cross-border supplies

September 2016

30 Sep - Japan: New income tax treaty with Germany, entry into force

29 Sep - Australia: ATO guidance, tax compliance by oil and gas taxpayers

29 Sep - India: Tax treatment of depreciable asset, vacancy allowance, employee uniforms

28 Sep - Vietnam: Guidance clarifying corporate income tax, VAT, special consumption tax

27 Sep - India: Treatment of trade discounts and GST, reimbursed employee-related benefits

23 Sep - Australia: ATO's updated guidance on the application of the general
anti-avoidance rules

22 Sep - Vietnam: Oil and gas activities, taxation of capital transactions

21 Sep - Philippines: Tax facts

20 Sep - India: Tax treaty with South Korea; withholding on promotion payments

19 Sep - Australia: Reduction of tax offset rates, R&D tax incentive

16 Sep - Australia: Greenfields mining projects may be eligible for exploration development incentive

16 Sep - Australia: Superannuation tax certainty and improvement in tax concession sustainability

16 Sep - Thailand: Regulation allowing foreigners to conduct certain businesses without foreign business license

14 Sep - Australia: Tasmania proposals for stamp duty exemptions, certain corporate transactions

14 Sep - Hong Kong: Guidance on tax benefits for corporate treasury centres

14 Sep - India: Direct selling guidelines; tax dispute resolution; call option taxation

13 Sep - Vietnam: Transfer of right to use trademark, subject to VAT

13 Sep - Indonesia: Overview of tax amnesty program

12 Sep - Singapore: Impact of Indonesian tax amnesty on Singapore
property prices

9 Sep - Australia: Important issues for taxpayers considering a debt-equity swap

8 Sep - New Zealand: Proposal, implementing BEPS Action 2 hybrid mismatch recommendations

7 Sep - China: Updated processing trade operations procedures

6 Sep - China: VAT guide (2016), overview of indirect tax system

6 Sep - New Zealand: Proposed tax changes, employee share plans

6 Sep - India: Capital gain tax involving treaties; foreign shipping company guidance

5 Sep - Australia: Boards need to consider tax treatment of shareholder returns

2 Sep - Australia: ATO focus on refundable R&D tax offset claims

2 Sep - Australia: NSW taxpayers to submit valuation instructions for all valuations, possible additional stamp duty

1 Sep - Australia: ATO guidance, tax implications on "negative" interest rates (when LIBOR is negative)

August 2016

29 Aug - India: GST on supplies; royalties under tax treaty with Italy

29 Aug - Vietnam: Corporate income tax incentives, VAT guidance

25 Aug - Taiwan: Expected VAT changes, foreign e-commerce businesses

25 Aug - Turkey: Amnesty program applies for customs duties

24 Aug - Australia: KPMG discussion paper, Tax 2025—what lies ahead for Australian tax system

24 Aug - Australia: Tax break for "angel investors," expense capitalisation for tax purposes

24 Aug - Indonesia: Guidance on accounting for governmental levies, including taxes

23 Aug - India: Software development services not taxable under U.S. treaty

23 Aug - Myanmar: Process for obtaining central bank approval for offshore loans

22 Aug - Australia: Definition of royalties for tax purposes

19 Aug - Turkey: Tax amnesty, repatriation and tax account adjustment provisions

18 Aug - Australia: ATO new draft guidance on the foreign hybrid rules

17 Aug - Israel: Tax provisions in proposed budget plan for 2017-2018

16 Aug - Australia: Implications of OECD proposal; residency requirement and superannuation funds’ access to tax treaty rates

12 Aug - Australia: GST implications, restructuring arrangements to comply with anti-avoidance law

12 Aug - Australia: Withhold tax on the purchase price of real property and indirect real property interests; vendor considerations

12 Aug - India: Rental income, corporate restructuring, MAT book profits

10 Aug - Australia: Consultation on “general purpose” financial statements, proposal for legislation

10 Aug - Cambodia: Business online re-registrations delayed to 30 September

10 Aug - New Zealand: Business tax proposals include provisional tax, transparency measures

9 Aug - Cambodia: Tax department to collect registration, VAT data from enterprises

9 Aug - Pakistan: Capital gains tax changes, immovable property

9 Aug - Thailand: VAT on digital transactions, possible extension of reduced rate

8 Aug - India: GST update; tax treatment of managerial services, intangible assets

4 Aug - Vietnam: Free trade agreements, preferential tariff rates

3 Aug - Japan: Bills to postpone consumption tax rate increase, local taxation for companies

2 Aug - India: Market value applied to transactions for GST purposes

2 Aug - Vietnam: Decree on VAT exemptions, VAT refunds

July 2016

28 Jul - Azerbaijan: VAT-free purchases by foreign consumers

28 Jul - Indonesia: Customs value for entries, voluntary declaration

27 Jul - Australia: Foreign resident withholding tax on real estate transactions

26 Jul - India: Share buy-backs; oil and gas exploration reimbursements

26 Jul - Myanmar: Foreign investment expansion; imports of construction materials allowed

25 Jul - China: Private securities fund management, opportunities for foreign investors

25 Jul - China: Trade and customs resource

22 Jul - Australia: Exemption to withholding tax eligibility

20 Jul - Indonesia: Increase in non-taxable individual income, implications for employers

20 Jul - Thailand: Additional tax deduction for investments made before year-end 2016

19 Jul - India: Draft GST law; treaty implication of marketing services

18 Jul - Australia: “Brexit” implications for imports, exports from the UK of Australian companies

15 Jul - Asia: Implications of “Brexit” on trade agreements in Asia

15 Jul - Malaysia: Tax incentives, “east coast economic region”

15 Jul - Singapore: Possible amendment to tax treaty with India, capital gains

14 Jul - Australia: Budget of South Australia provides grants, tax incentives for employers creating jobs

14 Jul - Australia: Common tax compliance issues for Australian companies operating in New Zealand

14 Jul - Australia: Government's approach to key BEPS actions following the 2016 federal election

14 Jul - New Zealand: Enhanced disclosure, reporting by foreign trusts

13 Jul - Qatar: VAT introduction set for 2018

11 Jul - Australia: New “angel” investor tax incentive, effective July 2016

11 Jul - India: Satellite services rendered in India; tonnage tax

11 Jul - New Zealand: Proposals for reporting interest, dividends, investment income

6 Jul - China: Evaluating effects of “Brexit” on supply chain connected with UK or EU entities 

5 Jul - Australia: Redeemable shares issued to limited partnership held to be debt interests for tax purposes

5 Jul - China: VAT exemptions expanded for financial services sector

5 Jul - India: Software-related royalty; indirect transfers reporting; foreign tax credit guidance

5 Jul - Indonesia: Expanded tax incentives for apparel, leather and footwear industries

5 Jul - Vietnam: Corporate tax incentives; interest-free loans; foreign contractor tax

June 2016

28 Jun - New Zealand: Recommendations for foreign trusts, inbound investment, BEPS proposals

27 Jun - Australia: Implications of “Brexit” for Australian GDP

27 Jun - India: Expenses related to exempt income; treaty-override provisions 

27 Jun - Myanmar: Reminder of tax filing obligations, due dates

27 Jun - Singapore: GST status of suppliers, customers of services

24 Jun - Australia: ATO's increasing interest in R&D tax incentive program

23 Jun - Australia: Tax proposals in 2016 state budget, New South Wales

23 Jun - Hong Kong: Tax exemption for private equity funds, clarifying guidance 

23 Jun - India: Customs draft guidance, AEO regime  

22 Jun - China: VAT treatment of reinsurance arrangements

22 Jun - India: Withholding tax on payments for highway toll-collecting services

22 Jun - Singapore: Guidance concerning GST treatment of fringe benefits

22 Jun - Thailand: Penalty relief, profits and losses from investment

21 Jun - Australia: Changes to tax treatment of “earn-out” arrangements

20 Jun - India: “Model” GST draft law

20 Jun - Oman: Update on proposed VAT

20 Jun - Pakistan: Tax provisions in 2016 finance bill

17 Jun - Japan: Corporate tax rate in Tokyo; postponed consumption tax
rate increase

16 Jun - Australia: Email may be “export” if containing controlled technology and sent abroad

16 Jun - Australia: State tax measures from the Queensland budget

16 Jun - India: Employee benefits, rent-free accommodation, split-residency benefits

16 Jun - Japan: Tax agreement with Taiwan enters into force

14 Jun - Australia: Stamp duty surcharge, foreign buyers of residential real estate

13 Jun - Australia: Changes to “reportable taxation position” schedule

13 Jun - Australia: Proposal to remove from tax consolidation, adjustments relating to deferred tax liabilities

13 Jun - Cambodia: Income tax treaty with Singapore; Cambodia’s first tax treaty

13 Jun - India: Crude oil installation facility; PE’s profits in India

13 Jun - India: Subsidiary not PE of U.S. company; foreign currency-related losses

13 Jun - Thailand: Additional tax deduction, incentive for new capital expenditures

10 Jun - Oman: Proposed changes to corporate tax law

2 Jun - India: Taxing concessional loans made by bank, to employees

2 Jun - Japan: Consumption tax rate increase is postponed, to October 2019

1 Jun - Australia: Proposed new “deductible liability” measures for tax consolidated groups

May 2016

31 May - Australia: Considerations for Australian mining companies moving employees to Mongolia

31 May - Vietnam: Corporate, individual income tax developments

31 May - Vietnam: Information technology incentives

26 May - Australia: Tax Transparency Code proposed for large

26 May - India: Indirect transfers of assets; royalties under UK treaty

26 May - Japan: Proposed local tax rates for Tokyo, effective April 2017

24 May - Australia: ATO's position on related-party foreign currency denominated borrowings and cross-currency swaps

23 May - Australia: Defining “owner” in delivered duty paid transactions, customs purposes

23 May - New Zealand: Changes to customs law to proceed

20 May - China: Participation in global tax initiatives (BEPS, CRS)

20 May - India: Company liable for capital gain tax, despite consideration paid directly to shareholders

20 May - Singapore: Strengthen the workforce; refinements to work-pass application process

18 May - Australia: New GST measures may affect foreign businesses

18 May - Australia: Tax policies of major political parties, federal election

18 May - New Zealand: Proposed tax changes for employee share plans, benefits

17 May - India: Non-withholding of tax on fees paid to foreign company

16 May - Australia: Tax incentives for start-ups, investors

16 May - Australia: Tax sharing agreements, benefits for tax consolidated groups

16 May - Singapore: Implications of new India-Mauritius tax treaty for Singapore investors

12 May - Australia: Proposal for diverted profits tax

12 May - China: Updates and reports of customs developments

12 May - India: Timing of income, taxation of stock appreciation rights

11 May - Asia Pacific: Tax update for financial institutions (May 2016)

10 May - India: Protocol amending tax treaty with Mauritius

6 May - Australia: Attribution managed investment trust (AMIT) regime benefits

6 May - India: Proposed amendments to Finance Bill, 2016

6 May - New Zealand: Omnibus tax bill introduced; budget to be presented 26 May 2016

5 May - India: Scientific research expenditures; tax deducted (withheld), collect at source

3 May - Australia: Tax provisions in federal budget 2016

3 May - Korea: Tax relief for certain corporate restructurings

3 May - Thailand: Reduced rates of individual income tax continue in 2016

2 May - Australia: Trusted trader programme (ATTP) to include customs
duty deferral

April 2016

29 Apr - China: More cross-border e-commerce guidance, retail imports

29 Apr - India: Conversion of firm into company, no capital gains tax

29 Apr - Vietnam: Corporate tax incentives, VAT on trade discounts, bonded warehouses

25 Apr - Australia: Victorian government's plans to increase the stamp duty
surcharge for foreign buyers of residential real estate

22 Apr - Australia: Possible reduction to thin capitalisation “safe harbor” limit, from 60% to 50% of assets?

21 Apr - Australia: R&D tax incentive registration deadline is 2 May 2016

21 Apr - Australia: Expectations for 2016 federal budget, to be presented on 3 May 2016

21 Apr - India: Foreign tax credit; VAT changes; provident fund withdrawals

21 Apr - Myanmar: Updated lists of economic activities for foreign investment

19 Apr - Hong Kong: Tax treaty with Latvia

19 Apr - India: Treatment of web-hosting services, 99-year lease; new tax forms

14 Apr - New Zealand: Business tax proposals, next phase

13 Apr - India: Virtual voice network-related payments, not taxable under UK treaty

12 Apr - Australia: Changes to employee share scheme reporting requirements

8 Apr - Australia: Tax treatment of terminal illness benefits

8 Apr - New Zealand: Holiday pay calculations; avoid errors

7 Apr - China: Import tax policies, cross-border e-commerce involving retail goods

7 Apr - Indonesia: Corporate governance guideline

7 Apr - Vietnam: VAT, consumption tax changes in new law

6 Apr - Australia: Guidance for charities, not-for-profits

5 Apr - Australia: ATO position on potential compliance risk areas

5 Apr - China: Customs revises standards for declaration forms

1 Apr - Japan: Tokyo business tax rates, and 2016 tax reform

March 2016

31 Mar - Australia: Rollover relief for small business entities; asset transfers after 1 July 2016 in restructurings

31 Mar - India: Stock exchange services, foreign direct investment, telecom services 

30 Mar - Australia: Legislation to offer tax incentives for investors in start-up innovation companies

30 Mar - Japan: Tax reform 2016; passage of the bills

30 Mar - Singapore: Budget 2016

30 Mar - Vietnam: Accounting for foreign currency-denominated transactions

30 Mar - Vietnam: Corporate tax incentives; VAT development updates

28 Mar - China: Customs announcements on customs pre-input system, charitable donations

24 Mar - Australia: Customs focus on tariff concession orders, correct valuation disclosures

24 Mar - Australia: Documentation of transactions required for R&D tax incentive

24 Mar - China: Rates, rules for expanded VAT system (effective 1 May)

24 Mar - China: VAT rates, rules for financial services, insurance sector

24 Mar - China: VAT rates, rules for “lifestyle services” sector

24 Mar - China: VAT rates, rules for real estate and construction sector

24 Mar - India: Income from container services; no PE under Singapore treaty

23 Mar - China: Guidance aims for customs clearance efficiency, trade facilitation

23 Mar - New Zealand: GST on remote services, residential land withholding tax

22 Mar - China: Summary of tax, customs developments

18 Mar - India: Outsourcing services not PE under UK tax treaty

17 Mar - India: Exploration, mining services not PE under treaty with Germany

16 Mar - Australia: Withholding tax, clearance certificate required for taxable property transactions 

14 Mar - Australia: GST law changes, implications for Australian residents

11 Mar - China: Customs developments (January-February 2016)

11 Mar - Singapore: Tax credits as incentives for innovation, R&D

11 Mar - Vietnam: Tax collection increases attributed to enhanced audits

8 Mar - China: Foreign investment law, access for foreign investors

8 Mar - China: VAT expansion, effective 1 May 2016

8 Mar - India: Taxation of “turnkey” contracts, of partnerships under UK treaty

8 Mar - Myanmar: Tax law 2016 passed by parliament

8 Mar - Thailand: Foreign business license no longer required, banking and insurance 

4 Mar - China: VAT and the digital economy

3 Mar - Australia: GST changes for offshore intangible supplies, cross-border transactions

3 Mar - India: Tax withheld (deducted) at source guidance

3 Mar - Thailand: Clarifying aspects of tax audit protection program for SMEs

2 Mar - China: Implications of VAT applied to healthcare sector

2 Mar - Vietnam: Corporate tax, VAT, and individual tax updates

1 Mar - Cambodia: VAT-related guidance for invoices; interest rate for loans (2015)

1 Mar - India: Tax measures in budget 2016

1 Mar - Indonesia: VAT exemption for “strategic goods”

1 Mar - New Zealand: Court determines tax residence of overseas individual

February 2016

29 Feb - New Zealand: Implications of Australia’s proposed GST for remote services

26 Feb - India: Early provident fund withdrawals; share buybacks

25 Feb - Hong Kong: Tax measures in budget 2016-2017

24 Feb - Azerbaijan: Tax exemptions for investors, entrepreneurs

23 Feb - Australia: Tax compliance, foreign investment applications

23 Feb - India: Defining “startup” and clarifying “initial year of assessment”

23 Feb - Vietnam: Work permit rules and incoming foreign workers

19 Feb - China: Customs guidance, imports of aviation supplies, aircraft operating leases

18 Feb - Australia: Outlook for tax reform

18 Feb - India: Data transmission services; tax credits in demerger

18 Feb - Indonesia: Reduced rates of withholding tax, bank deposit interest income

18 Feb - Vietnam: Rules for representative offices, branches; new accounting law measures

15 Feb - Asia Pacific: Tax update for financial institutions (February 2016)

15 Feb - China: New guidance, “high and new technology enterprise” incentive

15 Feb - India: Additional depreciation on machinery; interest paid on partners’ capital

15 Feb - Myanmar: Updated stamp tax requirements for contracts, leases

15 Feb - Thailand: Program offers tax audit protection for SME taxpayers

8 Feb - India: Permanent account number (PAN) update

8 Feb - Cambodia: Taxation of garment, footwear producers and financial lease transactions

7 Feb - Singapore: Income tax implications, adoption of accounting standard FRS 115

5 Feb - Indonesia: Additional guidance for “fixed asset revaluation tax” incentive

5 Feb - Vietnam: Free trade agreement with EU

4 Feb - Australia: Stamp duty changes

3 Feb - India: Project office not permanent establishment under UAE treaty

1 Feb - Australia: Legislative proposals would affect managed investment trusts

1 Feb - Hong Kong: New income tax treaty with Russia

1 Feb - India: Supply management services; amounts to forego legal actions

1 Feb - Singapore:  Opportunities in India for Singapore builders

1 Feb - Vietnam: Increased social insurance, minimum wage amounts

“Tax profiles” of countries in the Asia Pacific region

Summaries of the taxes that apply to businesses and to individuals in Asia Pacific countries

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