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International Tax Newsletter - Asia Pacific & MENASA

Asia Pacific & MENASA

International Tax Newsletter

International Tax Asia Pacific and MENASA August 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 August and 31 August 2019.

Australia Indonesia Myanmar
China Japan  
India MESA  


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 legislation approved and regulatory update  Mutual Administrative Assistance in Tax Matters
August 2019

An update from the Australian Taxation Office reflects the ongoing expansion of global cooperation regarding the administration and collection of tax.

Treaties
Multilateral instrument
August 2019

Taxpayers need to consider avoiding “tie-breakers” in the event of an Australian multinational group that operates in a country subject to the Multilateral Instrument (MLI).

China

Tax legislation approved and regulatory update Incentives  1 August 2019

New guidance from China’s immigration agency includes provisions aimed at attracting and retaining “foreign talent.” The new measures have a 1 August 2019 effective date.

Treaties Double tax treaties 19 July 2019

A Protocol to the income tax treaty between China and Hong Kong would implement certain measures to address perceived treaty abuse pursuant to the OECD’s base erosion and profit shifting project.

India

Administrative and case law
Various tax areas
August 2019

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

  • “Farm-in” expenditures of oil exploration and production companies are “intangible assets” eligible for depreciation
  • FAQs with regard to filing tax returns for assessment year 2019-20
  • credit for supplies when consideration not paid

 

Administrative and case law
Various tax areas
August 2019

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

  • tax treatment of “angel investments” in start-up companies
  • withholding tax at higher rate
  • payments to foreign entities for training of pilots and crews not royalties, taxable in India

 

Indonesia

Tax legislation approved and regulatory update WHT / Sales tax
August 2019

The Minister of Finance issued guidance regarding changes to the withholding tax and sales tax that are imposed on “luxury residential” transactions.

Japan

Treaties
Double tax treaties  30 August 2019

The instruments of ratification for the Protocol amending the income tax treaty between Japan and the United States have been exchanged between the two governments. The date of the Protocol’s entry into force is 30 August 2019.

MESA

KPMG publications
MESA Tax Guides       August 2019

KPMG prepared a report that focuses on the MESA countries tax and regulatory regimes as well as economic and financial environments.

Myanmar

Tax legislation approved and regulatory update Tax compliance
August 2019

The Ministry of Planning and Finance issued guidance that sets forth procedures for taxpayers to follow in determining how certain taxes—the specific goods taxes, commercial tax, and income tax—are to be calculated for the short financial year ending 30 September 2019.

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