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.
For a full summary of global tax developments, visit home.kpmg/TaxNewsFlash.
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|Tax legislation approved and regulatory update||VAT||June 2019||
The National Bureau for Revenue provided guidance concerning certain VAT topics.
|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.
|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.
|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.
|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.
|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.
|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.
|Treaties||Double tax treaties||June 2019||
The UAE recently signed new income tax treaties with Gabon and Argentina.