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International Tax Newsletter - Asia Pacific & MENASA

Asia Pacific & MENASA

International Tax Newsletter

International Tax - Asia Pacific and MENASA, May 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 May and 31 May 2019.

Australia Japan Philippines
India Myanmar Singapore
Indonesia New Zealand Thailand

 

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.

International Tax Newsletter - Asia Pacific & MENASA

Australia

  Tax area concerned Relevant date Description of measures and publication link
Tax legislation approved and regulatory update Budget 2019-2020 9 May 2019

The Western Australia Treasurer, Ben Wyatt, delivered the 2019-20 Western Australia State Budget.

Tax legislation approved and regulatory update Tax compliance  20 May 2019

The release of the Australian Taxation Office’s Reportable tax position schedule instructions 2019 has been keenly awaited by those looking to understand the expanding scope of the RTP lodgment requirement.

Proposed legislation  Various tax areas  May 2019

The government of Victoria released draft legislation following the introduction of the 2019-20 budget. The draft bill includes changes to excise tax (duty) on the acquisition of fixtures and to the corporate reconstruction exemption.

Administrative and case law Individual taxation  May 2019

The failure to properly document purported loans from a Chinese relative has seen the AAT affirm the Commissioner’s objection decision to treat the amounts as assessable income.

India

Administrative and case law Various tax areas  May 2019

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

  • nil withholding tax certificate, capital gains under India-Mauritius income tax treaty. The case is: Indostar Capital.
  • distribution charges received for telecasting of TV channels in India not taxable as “royalty” under India-Singapore income tax treaty. The case is: MSM Satellite Pte. Ltd
  • income of foreign company as a member of consortium/project for providing technical assistance held taxable as business income under the India-Russia income tax treaty. The case is: PJSC Stroytransgaz.

  • Read more  
Administrative and case law Various tax areas  May 2019

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

  • input tax credit for GST purposes, construction services
  • GST on real estate—FAQs
  • business loss from trading in shares not allowed as setoff against profits. The case is: Snowtex Investment Ltd.
  • scientific research expenditure, eligibility for weighted deduction. The case is: TVS Electronics Ltd.
  • allowability of interest on funds provided subsidiaries. The case is: CIT v. Reliance Industries Ltd.

  • Read more

Indonesia

Tax legislation approved and regulatory update VAT
 
May 2019

Guidance from the Ministry of Finance expands the list of export services that are eligible for the 0 percent export VAT rate.

Japan

Proposed legislation  Business tax rates  28 May 2019

The Tokyo metropolitan government released proposals for changes to the tax rates for Tokyo businesses.

Myanmar

Tax legislation approved and regulatory update Advance income tax regime  April 2019

Guidance issued in April revises the rules concerning the “advance income tax” regime and removes a previously available exemption for certain companies.

New Zealand

Proposed legislation   GST     May 2019 

New Zealand’s government announced its intention to change the GST rules for telecommunications services from 1 October 2020. Generally, this would be expected to increase GST collected on telecommunications services.

Philippines

Tax legislation approved and regulatory update “One person corporation” regime May 2019

The corporation law in the Philippines has been revised in an effort to simplify corporate governance rules and to encourage new investment and business in the Philippines.

Singapore

Tax legislation approved and regulatory update GST 1 January 2020 

The reverse-charge mechanism under the GST regime will apply for imported services beginning 1 January 2020.

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