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International Tax Newsletter - Asia Pacific & MENASA

Asia Pacific & MENASA

International Tax Newsletter

International Tax Asia Pacific and MENASA January 2020

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 Regions 1 January 2020 and 31 January 2020.

Australia

Kazakhastan Taiwan
Cambodia Korea Thailand 
China Myanmar  
India Oman  


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

Asia Pacific

Asia Pacific
KPMG Publications  2019 Global Withholding Taxe January 2020 

This guide presents tables that summarize the taxation of income and gains from listed securities in 115 markets around the world as of December 31, 2019.

Australia

  Tax area concerned Relevant date Description of measures and publication link
Australia

Tax legislation approved and regulatory update

Tax residency  

January 2020 

The Australian Taxation Office announced an extension of the period for applying a transitional compliance approach to the standard for determining where a company’s central management and control is located.

Cambodia

  Tax area concerned Relevant date Description of measures and publication link
Cambodia

Tax legislation approved and regulatory update

Dividend  WHT  

January 2020 

A financial management law includes tax amendments addressing the application of the tax rate, as well as advance taxation and withholding tax on certain dividend distributions.

China

  Tax area concerned Relevant date Description of measures and publication link
China

Tax legislation approved and regulatory update

Individual taxation 

December 2019

The Ministry of Finance and the State Taxation Administration issued guidance that generally confirmed the policy under the individual income tax rules for charitable donations.

Tax legislation approved and regulatory update Tax compliance January 2020

The State Taxation Administration published guidance Announcement No. 44 to clarify details of the 2019 annual comprehensive income tax reconciliation (or “annual reconciliation”).

Treaties Tax exemptions for individuals   January 2020

The income tax arrangement between China and Hong Kong incorporates provisions for teachers and researchers.

India

  Tax area concerned Relevant date Description of measures and publication link
 India 

Tax legislation approved and regulatory update

GST   

1 January 2020

The Central Board of Indirect Taxes and Customs issued a notification reflecting amendments to the goods and services tax rules pursuant to the Central Goods and Services Tax Act, 2017.

Administrative and case law  Various tax areas January 2020 

KPMG in India prepared a summary of recent tax developments, including:

-Tax withheld at source on year-end provisions

-Appeal can be filed directly to CIT(A)

-Supply of medical instruments and reagents

Administrative and case law  Various tax areas January 2020 

KPMG in India prepared a summary of recent tax developments, including:

-Budget scheduled for 1 February 2020

-Requirement to accept electronic payments

-Social welfare surcharge must be paid, not debited

-Taxpayer failure to deposit tax withheld at source

Kazakhstan

  Tax area concerned Relevant date Description of measures and publication link
Kazakhstan
Tax legislation approved and regulatory update Tax relief 

1 January 2020

Two relief provisions for small businesses have been introduced in Kazakhstan—a three-year tax benefits regime and a moratorium on inspections for small and micro enterprises. Both are effective beginning 1 January 2020.

South Africa

  Tax area concerned Relevant date

Description of measures and publication link

South Africa
Treaties  Double tax treaties  January 2020

A new income tax treaty between the Czech Republic and South Korea entered into force at the end of 2019, thus replacing the prior treaty (1992).

Myanmar

  Tax area concerned Relevant date Description of measures and publication link
Myanmar 
Tax legislation approved and regulatory update Beneficial ownership 1 January 2020

Guidance concerning the beneficial ownership disclosure requirements is effective 1 January 2020.

Oman

  Tax area concerned Relevant date

Description of measures and publication link

Oman
Tax legislation approved and regulatory update 2020 budget   1 January 2020

The government of Oman on 1 January 2020 revealed its 2020 budget.

Proposed legislation  VAT 2021 

The Minister of Commerce and Industry has confirmed that a VAT will be introduced in Oman beginning in 2021. The Oman tax authority is continuing to prepare to implement VAT.

Taiwan


Tax area concerned Relevant date

Description of measures and publication link

Taiwan   
Tax legislation approved and regulatory update Tax incentives  January 2020

The Ministry of Finance has introduced special investment incentive measures regarding the calculation of the surtax that is imposed on undistributed corporate earnings.

Thailand


Tax area concerned Relevant date

Description of measures and publication link

Thailand
KPMG Publications   Tax calendar  January 2020 

KPMG in Thailand has produced a “tax calendar” that is designed to help keep track of and meet the filing requirements of tax returns and tax payments.

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