Asia Pacific & MENASA International Tax Newsletter

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

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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.

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

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

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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.

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• 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.

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• Indian subsidiary not permanent establishment under India-United States income tax treaty
• sale of “compulsory convertible debentures” not colourable devices.

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

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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.

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

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

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

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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.

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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.

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

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

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“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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