International Tax Asia Pacific and MENASA - January 2019

This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Europe and Africa Regions between 1 January 2019 and 31 January 2019.

Australia India Myanmar Thailand
China Indonesia New Zealand Vietnam
Hong Kong Japan


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International Tax Newsletter - Asia Pacific & MENASA


  Tax area concerned Relevant date Description of measures and publication link
Proposed legislation Hybrid rules January 2019

The Australian Taxation Office has recently released Law Companion Ruling together with Practical Compliance Guidelines: OECD hybrid mismatch rules – concept of structured arrangement.


Tax legislation approved and regulatory update Individual income tax  January 2019

The State Council and the State Administration of Taxation released implementation rules and supplementary guidance notes concerning individual income tax measures in China.

Proposed legislation Comprehensive bonded zone January 2019

China’s government announced plans to promote the “comprehensive bonded zone” regime.

Hong Kong

Proposed legislation Corporate income tax January 2019    

Legislation has been proposed to provide a profits tax exemption for private funds operating in Hong Kong.

Proposed legislation Tax incentives  January 2019

Legislation providing a tax incentive for the funds industry would promote asset and wealth management activities in Hong Kong.


Administrative and case law GST January 2019

The Central Board of Indirect Taxes and Customs issued guidance that generally reflects recommendations made with respect to GST issues.

Administrative and case law Various tax areas January 2019

KPMG in India has prepared reports on the following tax developments:

  • Tax authority reverses position, fresh issuance of shares
  • Back-office support services for foreign group companies
  • Guidance on cross-border borrowing and lending
  • Merger of promoter holding companies into listed companies

  • Read more
Administrative and case law GST January 2019

The Calcutta High Court held that if provisions of Central Goods and Services Tax, Act 2017 also allowed for a service tax provision to apply (pursuant to the Finance Act (Service Tax), 1994, then both the GST and service tax provisions could apply.


Proposed legislation Anti-treaty abuse January 2019

Changes were made to form DGT-1/DGT-2 and the Indonesian anti-treaty abuse rules.


Treaties Economic Partnership Agreement 1 February 2019

The EU-Japan Economic Partnership Agreement will enter into force 1 February 2019, following completion of the agreement’s ratification by the EU Parliament and Japan’s National Diet.


Proposed legislation Insurance sector liberalization 2 January 2019

The Ministry of Planning and Finance issued an announcement which invites local and foreign insurers interested in operating an insurance business to submit an expression of interest.

New Zealand

Proposed legislation  Individual taxation   31 March 2019

Tax legislation in New Zealand is advancing, with a parliamentary committee’s report of amendments. The legislation—Taxation (Annual Rates for 2018-19, Modernising Tax Administration and Remedial Matters) Bill—is expected to be enacted by 31 March 2019.


Tax legislation approved and regulatory update Excise tax January 2019 

Qatar introduced an excise tax on certain goods that are deemed to be damaging to consumer’s health. The excise tax is effective in 2019.


Tax legislation approved and regulatory update International Business Center regime January 2019

The Thai government gazetted Royal Decrees to establish the International Business Center (“IBC”) regime as a replacement for the existing International Headquarters (“IHQ”), Regional Operating Headquarters (“ROH”) and International Trading Center (“ITC”) regimes.

KPMG publications  Tax calendar  2019

KPMG in Thailand has produced a “tax calendar” that is designed to help keep track of and meet the filing requirements of tax returns and tax payments.


Administrative case law  VAT January 2019

The General Department of Taxation issued an “official letter” to all provincial tax departments addressing the VAT rules for electronic and paper invoices.

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