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International Tax Newsletter - Asia Pacific & MENASA

Asia Pacific & MENASA

International Tax Newsletter

International Tax - Asia Pacific and MENASA, June 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 June and 30 June 2019.

Australia Indonesia Oman Saudi Arabia
Bahrain Japan Pakistan UAE
India New Zealand Philippines Vietnam


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 Hybrid mismatch 28 June 2019

Changes to the 2019 international dealings schedule relating to the hybrid mismatch rules (and instructions) have been released.

Treaties MILI  June 2019

With the MLI now in force for Australia’s income tax treaties, taxpayers need to consider how the adoption of the MLI is affecting the network of Australia’s tax treaties.

Bahrain

Tax legislation approved and regulatory update VAT June 2019

The National Bureau for Revenue provided guidance concerning certain VAT topics.

India

Tax legislation approved and regulatory update
GST/Tax compliance 
June 2019

The due dates for filing certain goods and services tax returns has been extended.

Proposed legislation  GST June 2019

The Indian government announced a plan for transitioning to a new GST return. A prototype of the new GST return was released in May 2019.

Administrative and case law Various tax areas  June 2019 KMG in India has prepared reports about the following tax developments:
  • non-compete fees are eligible for depreciation
  • fees for executive search not taxable as “fees for technical services” or royalty under the India-Netherlands income tax treaty
  • step-down subsidiary of listed company
  • proposed amendments with respect to audit of accounts of trust or institution.

 

Administrative and case law Various tax areas  2019 KMG in India has prepared reports about the following tax developments:
  • Indian subsidiary not permanent establishment under India-United States income tax treaty
  • sale of “compulsory convertible debentures” not colourable devices.

 

Indonesia

Tax legislation approved and regulatory update   Corporate income tax  June 2019 

Guidance concerning a new method of calculating monthly tax instalments, specifically for new entities and certain taxpayers.

Japan

Tax legislation approved and regulatory update Business tax  19 June 2019

A proposal to amend the Tokyo business tax rates, applicable for fiscal years beginning on or after 1 October 2019 was passed by the Tokyo Metropolitan Assembly.

New Zealand

Tax legislation approved and regulatory update  Tax residence      June 2019 

New Zealand’s Inland Revenue and the Australian Taxation Office reached an agreement for determining the tax residency of dual-resident companies.

Proposed legislation  Digital services tax   June 2019 

The government released a discussion document with regard to proposals for a digital services tax.

Oman

Tax legislation approved and regulatory update WHT June 2019

Recent developments in Oman concern withholding tax, incentives for specialized zones, and excise tax on certain products.

Pakistan

Proposed legislation  Budget June 2019

The 2019 budget contains measures that are expected to be included in the Finance Bill 2019 and that relate to direct and indirect taxes and certain other fiscal laws.

Philippines

Tax legislation approved and regulatory update VAT claims  May 2019 

The Bureau of Internal Revenue issued a Revenue Memorandum Order setting forth the procedures under the 90-day period for processing and granting claims for VAT refunds or credits.

Saudi Arabia

Tax legislation approved and regulatory update Excise tax June 2019 

General Authority of Zakat and Tax has determined excise tax will apply for the following products: sugary drinks, electronic cigarettes, and electronic cigarette fluids.

UAE

Treaties Double tax treaties  June 2019 

The UAE recently signed new income tax treaties with Gabon and Argentina.

Vietnam

Tax legislation approved and regulatory update Various tax areas   June 2019 

“Official letters” from the tax administration provide guidance with regard to issues concerning corporate income tax, VAT, foreign contractor tax, customs duties, and individual income tax.

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