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International Tax Newsletter - Asia Pacific & MENASA

Asia Pacific & MENASA

International Tax Newsletter

International Tax Asia Pacific and MENASA – April 2019

This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Asia Pacific & MENASA Regions between 1 April and 30 April 2019.

Australia India Kazakhstan Qatar
China Indonesia New Zealand Thailand
Hong Kong Japan Philippines UAE

 

For a full summary of global tax developments, visit home.kpmg/TaxNewsFlash.

To contact the International Tax Team email internationaltax@kpmg.com.

To register for the International Tax webcasts, click here.

Business People

Australia

  Tax area concerned Relevant date Description of measures and publication link
Proposed legislation  Budget 3 April 2019

KPGM in Australia prepared a summary of the main features of the Australian Federal Budget 2019.

Proposed legislation  Capital gains tax  26 April 2019

The ATO has issued a draft taxation determination reminding taxpayers that assets used by companies to mainly derive rent can’t access the small business CGT concessions.

Administrative and case law Corporate limited partnership 4 April 2019

KPMG in Australia discusses a Full Federal Court decision, a comprehensive victory for the ATO, which covered a number of very important areas of taxation.

Treaties Double taxation treaty  28 March 2019 

KPMG in Australia discusses the new tax treaty with Israel and how it will impact cross-border enterprise.

China

Tax legislation approved and regulatory update Customs 1 May

Dutiable royalties are required to be declared to China Customs within 30 Days after payment.

Treaties Double taxation treaty  March 2019

Representatives of the governments of Italy and China signed a new income tax treaty—an agreement for the avoidance of double taxation and to prevent fiscal evasion.

Hong Kong

Tax legislation approved and regulatory update Research and development/Tax incentives
 
18 April 2019

The Hong Kong Inland Revenue Department released its practice note regarding the research and development tax concession in Hong Kong.

India

Administrative and case law GST 26 April 2019

The Central Board of Indirect Taxes and Customs has issued guidance (notifications and circulars) concerning the GST regime in India.

Administrative and case law GST  23 April 2019

The High Court of Telangana held that tax paid on inputs became an input tax credit only when the return that included a claim for input tax credits was filed. The case is: Megha Engineering & Infrastructures Ltd..

Administrative and case law Service tax  15 April 2019

The Supreme Court of India dismissed an appeal filed by the tax authorities, thereby effectively upholding a decision of a tribunal finding that an Indian company did not owe service tax on the salaries paid to employees deputed (assigned) by a foreign parent company to work for the taxpayer in India.

Administrative and case law Various tax areas  April 2019

KMG in India has prepared reports about the following tax developments:

  • tax department issues income tax notices to multinational companies
  • income tax returns for Assessment Year 2019-20
  • amounts paid to property buyers for surrender of rights held a business expenditure.
  • Read More.

Indonesia

Tax legislation approved and regulatory update Tax credits April 2019

The Ministry of Finance issued a regulation concerning tax credits on overseas income and specifically concerning the availability to claim foreign tax credits in Indonesia.

Tax legislation approved and regulatory update Tax incentives April 2019

The Ministry of Finance issued a regulation that amends the “corporate tax holiday” rules that are available to encourage investment in Indonesia.

Tax legislation approved and regulatory update VAT March 2019

In late March 2019, the Minister of Finance withdrew and revoked a regulation concerning the imposition of VAT on e-commerce transactions before the regulation was effective.

Japan

Tax legislation approved and regulatory update  Tax Reform      27 March 2019

The 2019 tax reform bills were passed by the 198th ordinary session of the Japanese National Diet.

Kazakhstan

Tax legislation approved and regulatory update Tax compliance  19 April 2019

Changes to the corporate tax law in Kazakhstan that need to be considered for returns filed for 2018.

New Zealand

Proposed legislation Capital gains tax 17 April 2019

New Zealand’s government responded to the Tax Working Group final report recommendations, and the headline is: no capital gains tax.

Proposed legislation Tax incentives/R&D  16 April 2019

A bill that would introduce a research and development (R&D) tax incentive to support and further promote R&D for New Zealand businesses has passed its first reading in Parliament.

Philippines

Tax legislation approved and regulatory update Tax Amnesty April 2019

The Department of Finance issued Revenue Regulations, to implement and provide guidelines on the processing of Tax Amnesty Application on Tax Delinquencies under the “Tax Amnesty Act”.

Qatar

Tax legislation approved and regulatory update Corporate income tax  13 December 2018

There is a new income tax law in Qatar that is generally effective 13 December 2018.

Thailand

Tax legislation approved and regulatory update Labor law 5 April 2019

The new Labor Protection Act was published in the Government Gazette.

Tax legislation approved and regulatory update Tax incentives  March 2019

In late March 2019, the Thai Cabinet approved three Royal Decrees cancelling tax incentives previously granted by the Thai Revenue Department.

UAE

Treaties Double taxation treaties  April 2019

Recent tax treaty-related developments from the UAE.

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