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TaxNewsFlash-Asia Pacific — KPMG's reports of tax developments in the Asia Pacific region.


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Recent Articles

February 2020

26 Feb - Hong Kong: Tax proposals in 2020-2021 budget

26 Feb - New Zealand: GST rule changes are proposed

25 Feb - China: Income tax relief, response to coronavirus (COVID-19)

25 Feb - Myanmar: Tax calendar for 2020

24 Feb - Australia: Expanded director penalties related to GST liabilities

19 Feb - Singapore: Tax measures in budget 2020

18 Feb - Cambodia: Basis for application of specific tax on certain merchandise

14 Feb - Australia: Capital gains tax, property used in course of carrying on business

14 Feb - India: Tax treaty treatment of fees for technical services, of minimum alternative tax

13 Feb - India: Tax incentives for sovereign wealth fund investments, budget proposals

13 Feb - Uzbekistan: VAT rules for e-services

11 Feb - China: Tax challenges and policy options, coronavirus epidemic

10 Feb - Japan: Consolidated tax return filing system; shift to Japanese group relief system

10 Feb - Australia: Corporate residency rules; issues arising under sole-incorporation test 

10 Feb - Australia: New legislation increases accountability of directors

10 Feb - Kazakhstan: Tax administrative and procedural changes effective 2020

10 Feb - Oman: Measures to encourage foreign investment

6 Feb - China: Tax considerations, relocating employees in response to coronavirus

6 Feb - China: Tax on overseas income received by resident taxpayers

6 Feb - Turkey: Tax administration’s draft guidance on digital services tax

3 Feb - India: Tax proposals in Union Budget 2020

3 Feb - Cambodia: Guidance on issuance of certificates of occupancy

3 Feb - Hong Kong: Proposed tax measures for ship-leasing activities

January 2020

31 Jan - Uzbekistan: VAT rules for foreign suppliers of e-services

30 Jan - Taiwan: Funds for certain investments not subject to surtax imposed on undistributed earnings

29 Jan - India: GST levied on ocean freight transportation held unconstitutional

29 Jan - Kazakhstan: Tax benefits regime, moratorium on tax audits of small businesses

29 Jan - Oman: VAT implementation expected in 2021

23 Jan - Thailand: VAT proposed regulations include e-commerce measures

22 Jan - Asia Pacific: Global withholding taxes, income and gains from listed securities (KPMG report)

22 Jan - Singapore: Tax considerations in advance of 2020 budget (expected 18 February)

21 Jan - Australia: FBT implications of workplace bushfire donations

20 Jan - Australia: Extension of transition relief, central management and control test

20 Jan - India: Tax withholding on year-end, GST and composite supplies

20 Jan - Korea: Income tax treaty with Czech Republic, entry into force

17 Jan - Cambodia: Taxation of dividends under tax holiday rules; use of exchange rates

15 Jan - China-Hong Kong: Income tax arrangement, possible tax exemptions for teachers and researchers

13 Jan - China: Individual income tax policy, charitable donations

8 Jan - China: Final guidance, comprehensive income tax annual reconciliation for 2019

8 Jan - India: Budget 2020 scheduled for 1 February; electronic payments requirement

6 Jan - Myanmar: Beneficial ownership disclosure requirements, effective 2020

3 Jan - India: GST amendments effective 1 January 2020

2 Jan - Oman: 2020 budget and indirect tax proposals

2 Jan - Thailand: Tax calendar for 2020

December 2019

30 Dec - China: Foreign exchange measures to facilitate cross-border trade and investment

27 Dec - Indonesia: Income tax benefits for new investments

26 Dec - Cambodia: Intellectual property rights, patents and utility model certificates

26 Dec - Cambodia: Measures regulating construction industry

26 Dec - China: Guidance on annual income tax reconciliation for individual taxpayers

26 Dec - Japan: Outline of tax reform proposals; measures concerning corporate and individual taxpayers

20 Dec - India: Deadline for GST return, reconciliation statement extended

20 Dec - New Zealand: Update on pending R&D tax credit, Kiwisaver bill

18 Dec - Myanmar: New penalty measures, stamp tax imposed on documents

17 Dec - Australia: Payroll tax and bonuses, timing of payments can matter

17 Dec - India: Tax relief included in tax legislation

17 Dec - Indonesia: Proposal for reduced corporate tax rate, territorial tax system

17 Dec - Taiwan: Reduced business tax rate, banks’ NCD transactions; refund opportunities

17 Dec - Hong Kong: Tax relief measures

16 Dec - Hong Kong-Macau: New income tax treaty

16 Dec - India: Electronic invoicing required for certain business-to-business supplies

16 Dec - New Zealand: Proposal to align tax with accounting for leases

11 Dec - New Zealand: Purchase price allocation proposals for vendors, purchasers

11 Dec - Turkey: Digital services tax enacted, effective date of March 2020

10 Dec - India: Sales tax, place where contract for time-charter agreement entered

6 Dec - India: Application of MLI to tax treaties with Australia, Finland, Japan, Singapore, Slovakia, UAE

4 Dec - Australia: Update on hybrid mismatch rules

4 Dec - Papua New Guinea: Tax measures in 2020 budget

2 Dec - Australia: Do U.S. GILTI rules correspond to the Australian CFC regime?

2 Dec - China: VAT legislative proposals covered in draft consultation

October 2019

31 Oct - Australia: GST collection by offshore providers of hotel room sales

29 Oct - Malaysia: Tax incentives, other measures in 2020 budget

29 Oct - Taiwan: Invoice requirements for foreign e-commerce suppliers, effective January 2020

25 Oct - Australia: Thin capitalisation asset valuation law changes; ATO administrative treatment

24 Oct - Australia: Foreign income tax offset limit, untaxed capital gains

24 Oct - Australia: Post-import adjustments, determining customs value of imported goods

24 Oct - Australia: Proposed expanded land tax base, New South Wales

24 Oct - China: Tax uncertainties with expanded opportunities for foreign insurance companies, banks

23 Oct - China: Administrative guidance on income tax treaty benefits

21 Oct - Australia: Income “tax gap” estimate, large corporate groups

15 Oct - Kazakhstan: CFC rules; defining large taxpayers; VAT amendments

15 Oct - Myanmar: Advance income tax for imports, exports; other trade-related items

14 Oct - Indonesia: Upstream oil and gas activities; tax incentives for cost allocations

10 Oct - Australia: Fuel tax credits, ATO’s position in decision impact statement

10 Oct - New Zealand: Income tax treaty with China

10 Oct - New Zealand: Tax treatment of land “holding costs”

4 Oct - Taiwan: Tax relief available for foreign corporations receiving Taiwan-source income

3 Oct - Australia: ATO’s proposals could subject non-residents to tax

3 Oct - Australia: Superannuation contributions cap, directors of multiple boards

2 Oct - Hong Kong: Guidance on disallowing deductions for foreign taxes

1 Oct - Indonesia: VAT exemption, “temporary imports” used in providing taxable services from overseas

July 2019

31 Jul - India: Claiming “most favored nation” benefits under tax treaty

29 Jul - India: GST rate reduction, electric vehicles

26 Jul - Australia: Operating costs for purposes of mineral royalty liability

26 Jul - Australia: R&D activities, underground coal gasification pilot facility (appellate court decision)

26 Jul - Pakistan: Indirect tax changes in three provinces (Punjab, Sindh and Khyber Pakhtunkhwa)

26 Jul - Thailand: Customs voluntary disclosure program extended to 30 April 2020

25 Jul - Japan: Export controls for certain goods destined for South Korea

25 Jul - New Zealand: Update on digital services tax consultation

24 Jul - India: PE under tax treaty with UK; Protocol to treaty with China

24 Jul - Vietnam: Taxation of e-commerce transactions, implications for banks

24 Jul - Australia: Proposal to make director personally liable for company’s GST

23 Jul - Australia: Thin capitalisation, correctly identifying debt deductions

19 Jul - Australia: Excise tax rates on beer updated; refund opportunities

19 Jul - Japan: Import requirements clarified under economic partnership agreement with EU

18 Jul - Indonesia: Regulation clarifies permanent establishment requirements

17 Jul - India: Tax authority’s action plan; claims for input tax credit

17 Jul - Japan: Protocol to tax treaty with United States, approved by U.S. Senate

15 Jul - Australia: Ride-sharing services not eligible for FBT exemption

11 Jul - UAE: New economic substance regulations for UAE companies

10 Jul - Thailand: Mutual funds subject to 15% income tax (effective 20 August 2019)

8 Jul - India: Tax proposals in Union Budget 2019

8 Jul - India: Annual return of foreign liabilities and assets; revised reporting system

3 Jul - Thailand: Expanded exemptions from foreign business license requirements

2 Jul - China: Individual income tax subsidy available in Greater Bay Area

2 Jul - Vietnam: Taxation of e-commerce transactions, remote digital sales

May 2019

30 May - Thailand: Tax incentives under international business centre regime

30 May - New Zealand: Tax measures in 2019 budget

29 May - Japan: Tokyo’s business tax rate proposals, effective 1 October 2019

29 May - Australia: Victoria state government proposes tax legislation

28 May - Australia: Victoria’s budget includes business tax relief, payroll tax reduction 

24 May - India: Losses from trading in shares; interest on funds provided subsidiaries 

23 May - Australia: Annual reporting about employee share schemes; first reporting for tax year ending 30 June 2019

23 May - Australia: “Reportable tax position” schedule, instructions for 2019

17 May - New Zealand: Proposed GST changes expected, telecommunications services

17 May - Thailand: International business center regime, individual income tax benefit requirements

10 May - Australia: Western Australia budget delivered, no changes to stamp taxes (duties) or land tax regime

10 May - Indonesia: VAT rate of 0% extended for additional export services

10 May - Myanmar: “Advance income tax regime” exemptions removed for certain companies

8 May - India: Tax treatment of receipts under tax treaties with Mauritius, Singapore, Russia

7 May - Thailand: New international business center tax incentive; certain action required by 1 June 2019

6 May - Australia: International money transfers treated as assessable income (individual tax)

6 May - Philippines: Tax implications of “one person corporations”

3 May - Singapore: GST reverse-charge mechanism on imported services, effective January 2020

April 2019

30 Apr - Australia: Updated ATO guidance for stakeholders on general purpose financial statements (GPFS) regime

29 Apr - India: Permanent establishment thresholds, profit attribution rules

26 Apr - India: Update on GST notifications, circulars

26 Apr - Australia: Small business capital gains tax (CGT) concessions not available for companies using assets to derive rent 

23 Apr - Australia: Income tax treaty signed with Israel

23 Apr - India: Interest payable on gross GST liability; input tax credit available only when returns filed

23 Apr - Thailand: New labor law effective 5 May 2019; many employers to be affected by changes

22 Apr - Qatar: Tax authority guidance, new income tax law provisions

19 Apr - Kazakhstan: Summary of corporate tax law amendments for 2018 returns

18 Apr - Philippines: Tax amnesty available for 2017 and prior years

18 Apr - Hong Kong: Inland Revenue’s guidance on R&D tax incentive; qualifying activities and deductible expenditures clarified

17 Apr - New Zealand: No capital gains tax, government responds to recommendations

16 Apr - New Zealand: Status of R&D tax incentive bill

15 Apr - Indonesia: Regulation imposing VAT on e-commerce transactions revoked

15 Apr - Indonesia: Restrictions on allowable foreign tax credits

15 Apr - Indonesia: Revised rules, corporate tax holiday

15 Apr - Qatar: Income tax return for 2018 due 30 April 2019 

15 Apr - India: Deputed employee salaries not subject to service tax  

12 Apr - India: Income tax notices issued to multinational companies

10 Apr - China: New income tax treaty signed with Italy

9 Apr - China: Dutiable royalties must be declared to China Customs within 30 days after payment

8 Apr - New Zealand: Capital gains tax proposals, pros and cons

5 Apr - India: GST election by builders, developers due 10 May 2019

4 Apr - Thailand: Corporate tax incentives repealed, effective 1 June 2019

4 Apr - UAE: Tax treaty updates

4 Apr - Australia: Tax on income of corporate limited partnership (Full Federal Court decision)

3 Apr - Australia: Federal budget 2019-2020

3 Apr - Australia: Snapshot of key tax provisions in federal budget 2019-2020

3 Apr - Australia: Review of tax measures in budget 2019-2020, implications for Australian business, industries and sectors

2 Apr - Japan: Tax reform bills (2019) passed by National Diet

1 Apr - New Zealand: Accounting for proposed R&D tax incentive

March 2019

28 Mar - New Zealand: Case reveals Inland Revenue’s approach to investigating corporate restructures and funding arrangements

28 Mar - New Zealand: High Court’s decision in tax avoidance case

28 Mar - Australia: Personal liability of company directors when workers are underpaid

26 Mar - China: Individual income tax incentive, foreign “high-end talent” working in Pearl River delta cities

25 Mar - China: New VAT policies, implementation rules reflect international “best practices”

25 Mar - Thailand: Tax amnesty, certain actions required by 30 June 2019

21 Mar - China: Tax treatment of non-residents and residents not domiciled in China, additional guidance

19 Mar - China: Length of residence rules for individual income taxation purposes

19 Mar - India: Tax treatment of post-supply discounts, premium on share issuances

18 Mar - Australia: Authorities expected to drop proposed changes to CGT main residence exemption

15 Mar - Sri Lanka: Tax proposals in 2019 budget

11 Mar - China: Corporate income tax returns for 2018, new rules and requirements

8 Mar - Australia: Employers must include foreign employees in “single touch payroll” reporting, July 2019

8 Mar - India: GST treatment of sales promotions; GST amnesty in Maharashtra

8 Mar - Hong Kong: Review of tax compliance changes for 2018/19 year of assessment

7 Mar - Australia: Status of proposal to deny non-residents the capital gains tax exemption on sale of residence

6 Mar - Australia: Businesses to provide greater public disclosure by tax transparency report (consultation) 

6 Mar - India: “Pre-import condition” and duty-free exemption schemes

6 Mar - Thailand: Tax compliance implications of M&A transactions

5 Mar - China: VAT rate reductions announced

5 Mar - Saudi Arabia: VAT compliance measures

1 Mar - India: Fees for technical services, UK treaty; interest converted into loan

February 2019

26 Feb - Australia: “Permanent place of abode” outside Australia (court decision)

26 Feb - India: 100% deduction after substantial expansion; share transfer not sale of assets

26 Feb - India: Input tax credit, pre-fabricated structure; amnesty for pre-GST liabilities

21 Feb - New Zealand: “Tax Working Group” recommendations 

20 Feb - Philippines: Tax amnesty program

19 Feb - Singapore: Budget 2019 includes corporate and individual tax measures

19 Feb - New Zealand: Expectations of Tax Working Group’s recommendations to the government

18 Feb - Singapore: Taxable car benefits, new formula effective 2020

18 Feb - Indonesia: VAT and e-commerce transactions, customs duty

12 Feb - Jordan: Corporate and individual tax rates, effective in 2019

12 Feb - UAE: Tax treaty update; foreign direct investment expansion

12 Feb - UAE: Fiscal budget in Dubai for 2019

11 Feb - Korea: Tax law changes, amendments reflected in “enforcement decrees”

11 Feb - Oman: Measures concerning withholding tax, procedural rules clarified

11 Feb - Philippines: Extended deadline for “alphalist” of employees, payees (withholding taxes)

11 Feb - Qatar: VAT regime now expected in 2020

8 Feb - Australia: Superannuation issues arising with respect to “leave loading”

8 Feb - Australia: Mandatory 100% piece-level screening for all outbound air cargo (effective 1 March 2019)

7 Feb - Singapore: Effects of BEPS multilateral instrument (MLI) on tax treaties

7 Feb - India: Input tax credit and prices; tax sparing credit rules

6 Feb - India: Kerala budget proposal for “calamity cess”

6 Feb - India: Tax proposals in interim budget 2019

1 Feb - Australia: Court decision, CFC rules and definition of associates, “sufficient influence”

1 Feb - Australia: Court decision, customs treatment of vitamins and weight-loss supplements, “medicine or foodstuff”?

1 Feb - Australia: Court decision, foreign income tax offset and capital gains

1 Feb - Australia: Worldwide gearing ratio under thin capitalisation rules

1 Feb - China: Economic substance requirements for “key” offshore centres

1 Feb - India: Guidance implementing GST measures

1 Feb - Myanmar: Equity investments into local banks; foreign currency for payments

1 Feb - Singapore: Grant for equity market program

January 2019

November 2018

28 Nov - China: Three-year tax exemption, bond interest for foreign institutional investors

28 Nov - Hong Kong: Salaries tax, relief from double taxation; transitional arrangements

28 Nov - Korea: Update on tax developments, court cases

28 Nov - Singapore: Tax exemption for pensions of “not ordinarily resident” individuals

26 Nov - Japan: Tax system review for 2018

21 Nov - Australia: Tax authorities focus on payroll tax, independent contractor issues

21 Nov -  Australia: Tax implications for cryptocurrencies

19 Nov - Malaysia: Budget 2019 includes service tax on digital products, excise tax on sweetened beverages

16 Nov - India: VAT on telecom towers, taxation of services outside India

16 Nov - Papua New Guinea: Tax provisions in 2019 budget

16 Nov - Australia: Tax ruling on certain employee remunerations trusts

14 Nov - Australia: Proposed reforms to petroleum resources rent tax (PRRT)

14 Nov - Australia: Tax authority guidance on restructures of hybrid mismatch arrangements

14 Nov - Taiwan: Provisions similar to income tax treaty with Czech Republic

13 Nov - Thailand: Labor protection and employee benefit measures passed by National Legislative Assembly

7 Nov - Hong Kong: New research and development (R&D) tax regime

7 Nov - India: GST on supplies, tax withheld at source

7 Nov - Saudi Arabia: Effects of BEPS multilateral instrument (MLI) on tax treaties

6 Nov - Australia: New South Wales to index stamp tax (duty) brackets

5 Nov - Malaysia: Tax policy changes following election include repeal of GST

2 Nov - Asia Pacific: General tax update for financial institutions (third quarter 2018)

October 2018

29 Oct - Australia: ATO final guidance on diverted profits tax

25 Oct - India: Tax credit; expenditures of PE; GST on complimentary tickets

24 Oct - China: Proposed rules for individual income tax, itemized deductions

24 Oct - Taiwan: Changes to law governing companies

19 Oct - New Zealand: GST on “low-value” imported goods, details and timing

18 Oct - Qatar: Withholding tax compliance, electronic filing requirements

16 Oct - Thailand: International business centre (IBC) regime to replace tax incentives under headquarters regimes

15 Oct - Hong Kong: Chief Executive’s 2018 policy speech; focus on tax incentives to foster international finance centres, maritime industry

12 Oct - Thailand: Alternative methods for recognition of rental property income, expenses for tax purposes

12 Oct - Australia: Court decision that income is subject to Australian tax under tax treaty (even if not under domestic law)

11 Oct - Australia: Proposals for company tax rate cuts

11 Oct - Bangladesh: Tax guide incorporating measures from Finance Act 2018

11 Oct - Myanmar: Transition period for companies to comply with new companies law; action steps explained

9 Oct - Bahrain: VAT regime is effective beginning 1 January 2019

9 Oct - Macau: Proposal to repeal offshore company regime, related tax incentives

9 Oct - Qatar: Possible considerations, VAT and the retail sector

8 Oct - China: Examining recent tax reform measures affecting individual taxpayers

8 Oct - India: Securities transaction tax, and equity shares; medicines subject to goods and services tax (GST)

8 Oct - Indonesia: New guidance for refunds of tax overpayments

5 Oct - Bangladesh: Permanent establishments, reduced or zero withholding tax certificate, definition of “taxed dividend”

5 Oct - Egypt: Tax amnesty; new withholding tax rates

5 Oct - Iraq: Record retention rules for tax purposes

5 Oct - Oman: VAT system possibly deferred to second half of 2019

5 Oct - Qatar: VAT expected to be implemented in 2019

5 Oct - Saudi Arabia: Multilateral instrument (MLI) signed, implications for tax treaties

5 Oct - Sri Lanka: Levy on banks and financial institutions; VAT amendments and changes to “nation building tax” exemptions

4 Oct - Australia: Discussion paper, taxing the digital economy

2 Oct - Australia: Goods and services tax (GST) reform announced

1 Oct - Australia: BEPS Multilateral instrument (MLI) ratified

August 2018

31 Aug - China: Amendments to individual income tax law approved

31 Aug - Thailand: Amendments to work permit rules

30 Aug - Australia: Tax legislation still pending, Parliament to resume 10 September; corporate entity tax

30 Aug - Japan: Inheritance, gift tax payment obligations of foreign nationals

29 Aug - India: Non-payment of service tax; transportation of goods for transshipment

29 Aug - Philippines: “Final assessment notice” void for lack of due date (Court of Tax Appeals decision)

27 Aug - Australia: Draft legislation expands the scope of “significant global entity”

27 Aug - Australia: Proposed amendment would deny ability to revalue assets solely for thin capitalisation purposes

27 Aug - Australia: Senate rejects company tax rate reduction to 25% for all companies

22 Aug - Australia: Anti-hybrid measures; imported or “upstream” mismatches, minimum tax on foreign lenders

22 Aug - Australia: Proposal to test certain companies on R&D spending under tax incentive

22 Aug - India: Withholding tax exemption proposals; GAAR and GST disclosures delayed

20 Aug - Korea: Tax authority’s focus on compliance; tax decision review

17 Aug - India: Simplified processing of AEO-T1 applications

10 Aug - India: GST amendment bills introduced

9 Aug - India: GST guidelines, PE under treaty with Cyprus

9 Aug - Malaysia: Sales and service tax regime, proposed effective September 2018

9 Aug - Middle East, South Asia: KPMG tax guide for 14 countries

9 Aug - Myanmar: Registration, capitalization for wholesale and retail operations

6 Aug - Asia Pacific: Summaries of tax systems in selected countries

6 Aug - Australia: Fringe benefits tax, identification and calculation of car parking fringe benefits

6 Aug - Japan: Implications for Japanese entities, EU mandatory disclosure rules

6 Aug - Thailand: Regulation on private car, motorcycle lease-purchase contracts

6 Aug - India: Deductible expenses if non-withholding; effects of discounts on GST

2 Aug - India: GST on lapsed reward points; tax treaty with Israel

2 Aug - Singapore: Employer-provided accommodation, proposed tax treatment change

July 2018

27 Jul - China: R&D “super deduction” rate of 75%, expanded for all enterprises

27 Jul - Singapore: GST on imported services beginning 2020

26 Jul - Australia: Information reporting of payments made to sub-contractors for certain services

26 Jul - Myanmar: Companies, branches must re-register beginning 1 August 2018

24 Jul - India: GST on reimbursements to liaison office; Protocol to tax treaty with Sweden

23 Jul - Hong Kong: Salaries tax changes affecting certain Hong Kong-based employees working partly and paying tax in other territories

20 Jul - Australia: ATO focus on R&D expenditures in construction activities

20 Jul - Australia: ATO guidance, employee use of work vehicles and fringe benefits tax

18 Jul - India: PE of global payment provider; Singapore tax treaty, relief provision

16 Jul - Australia: Federal Court decision regarding interest on overpaid GST

16 Jul - New Zealand: R&D tax credit; draft legislation expected in September 2018

16 Jul - Vietnam: Guidance on commercial promotions, effective 15 July 2018

11 Jul - Singapore: Increased stamp taxes (duties) for residential real estate transactions

10 Jul - Japan: Trans-Pacific Partnership (TPP) “comprehensive progressive agreement” ratification completed

6 Jul - China: Individual income tax reform; tables of proposed tax rates

5 Jul - Hong Kong: Proposed tax on “vacant properties” (unoccupied for six months each year)

5 Jul - Malaysia: Transition from GST to SST (sales and services tax)

3 Jul - India: Guidance for foreign companies, “place of effective management”

3 Jul - Thailand: New income tax treaty with Philippines, effective 2019

3 Jul - Australia: Status of bill that would reduce corporate income tax rate, other pending legislation

June 2018

28 Jun - Australia: Tax opportunities for entities considering investments in space industry, satellite sector

27 Jun - Australia: ATO ruling when foreign-incorporated entity is Australian tax resident

27 Jun - India: Tax residency certificate, permanent establishment (income tax treaty issues)

27 Jun - OECD: Kazakhstan, UAE sign BEPS multilateral convention (MLI)

27 Jun - Vietnam: Investment incentives, public-private partnership projects

26 Jun - China: Individual income tax reform; release of proposed amendments

25 Jun - Hong Kong: Tax implications of equity-based compensation for “new economy” companies

22 Jun - China: Proposed amendments signal changes to individual income taxation

21 Jun - Hong Kong: Tax implications of accounting changes for financial instruments, contracts with customers, leases

20 Jun - Myanmar: Withholding tax changes effective 1 July 2018

20 Jun - Cambodia: Income tax treaties with Singapore, Thailand, China, Brunei Darussalam

20 Jun - Australia: Attribution managed investment trust rules, proposed technical amendments

18 Jun - Australia: Capital territory 2018-2019 budget includes focus on property development

15 Jun - Asia Pacific: General tax update for financial institutions (second quarter 2018)

15 Jun - Australia: Tasmanian 2018-2019 budget, extends “payroll tax rebate scheme”

15 Jun - Hong Kong: “Open-ended fund” rules effective 2018; profits tax exemption available for certain offerings

15 Jun - India: Treatment of payments for training services, reservation system access

14 Jun - Japan: Update on status of Trans-Pacific Partnership trade agreement

13 Jun - Australia: Payroll tax incentives in Queensland budget 2018-2019

13 Jun - Thailand: Tax law proposals for alternative currency conversion methods, new functional currency approach

11 Jun - China: Self-assessment system, simplified procedures for claiming corporate tax incentives

7 Jun - India: Tax treatment of global reservations services, new shares issuance

5 Jun - India: Permanent establishment, loan-related fees under income tax treaties

5 Jun - Australia: Reminder to employers, amnesty for voluntary correction of superannuation guarantee charge errors

4 Jun - Pakistan: Finance Act 2018, tax provisions enacted

1 Jun - China: “Most favored nation” customs duty rate reductions, for consumer goods

May 2018

31 May - Thailand: Reduced fee for corporate registration matters

30 May - Australia: New GST rules for property developers

30 May - Australia: Northern Territory payroll tax exemption for hiring resident employees

30 May - India: Permanent establishments under treaties with Germany, United States

28 May - Australia: Hybrid mismatch and interposed entity bill introduced

25 May - China: Reduced import tariffs on automobiles, automotive parts

24 May - India: Retroactive tax law changes; 10-year period for tax benefits

24 May - Indonesia: Revised tax holiday regulations, intended to encourage investments

24 May - Turkey: Tax amnesty for repatriation of capital, certain receivables

21 May - Turkey: General tax amnesty also applies for customs duties

16 May - Australia: Increased surcharge tax rate, residential property acquired by foreign individuals in Western Australia

15 May - Australia: Thin capitalisation rule proposals; implications for inward, outward tax consolidated groups

15 May - Thailand: New provisions on taxation of income from “digital assets” and withholding tax requirements

14 May - Thailand: Proposal for 15% withholding tax on income from "digital assets" including crypto-currency

14 May - Myanmar: Guidance liberalizing the rules for wholesale and retail sector investments

10 May - India: “Inland container depots” are “inland ports,” tax benefits

9 May - Australia: Federal budget 2018-2019, implications for business and individual taxpayers

9 May - New Zealand: Budget scheduled for 17 May

8 May - China: Implications of U.S. trade conflict for importers, exporters

8 May - India: Lessee equalisation charge as deduction; redemption of stock appreciation rights

8 May - Taiwan: Calculating Taiwan-sourced income of foreign businesses for certain activities

8 May - Australia: Victoria and Northern Territory release state budgets, adjusted payroll tax rules

4 May - Australia: Update on trusted trader program

3 May - Australia: ATO focus on tax risk management and governance, now includes indirect tax (GST and excise tax)

3 May - Australia: Federal budget scheduled to be announced 8 May 2018

3 May - Hong Kong: Proposals for enhanced tax deductions, expenses relating to research and development (R&D) activities

3 May - New Zealand: Proposal for GST on “low-value” imports

2 May - Turkey: VAT registration, business-to-customer (B2C) sales of “e-services”

April 2018

28 Apr - Pakistan: Tax and economic commentary, budget 2018

27 Apr - Australia: New “churning” measures for foreign-owned groups

27 Apr - India: Reminder to digital sector, GST compliance

27 Apr - India: Foreign tax credit; tax benefits for start-ups; securities taxation

23 Apr - Myanmar: Investments allowed in providing certain private education services

19 Apr - Singapore: GST changes in budget 2018

18 Apr - India: Tax at rate of 10% on long-term capital gains realized on publicly traded shares, securities (effective April 2018)

16 Apr - Australia: R&D tax incentive registration deadline for companies with 30 June year-end is 30 April 2018

15 Apr - Hong Kong: Two-tiered profits tax regime, effective year of assessment 2018/19

13 Apr - Hong Kong: Income tax treaty with India pending ratification; no specific exemption for capital gains

13 Apr - India: New tax return forms; exploration vessels constitute permanent establishment

12 Apr - Australia: New law affects tax costs of subsidiary member’s assets on joining tax consolidated group

12 Apr - Cambodia: Income tax treaty with Vietnam

11 Apr - Myanmar: No income tax rate changes in 2018 tax legislation; amendments concern goods and services tax and commercial tax

11 Apr - New Zealand: Five-year “bright line” for residential property; rental-loss proposal

10 Apr - Australia: Changes to R&D tax incentive expected in federal budget (May 2018)

10 Apr - Philippines: Withholding tax, action required by 30 April 2018

9 Apr - India: Tax treatment of advertising payments, intellectual property rights, reimbursements of expenses

9 Apr - Pakistan: Tax ordinances follow release of economic and tax reforms package; effective 10 April 2018

5 Apr - Thailand: New rules for residential lease contracts

5 Apr - Thailand: Tax authorities respond to comments on proposed taxation of e-commerce

4 Apr - India: No permanent establishment, services of foreign company’s seconded employees

3 Apr - China: List of U.S. imports subject to new tariffs

March 2018

29 Mar - China: Reduced rates of VAT effective 1 May 2018; changes to VAT registration thresholds

29 Mar - Japan: Tax reform bills passed by National Diet

29 Mar - New Zealand: R&D tax credit to be re-introduced

28 Mar - Australia: Measures addressing risks posed by “stapled structures” and tax concessions available to foreign investors

28 Mar - India: Marketing, business development services; conversion of loan into equity

23 Mar - India: New income tax treaty signed with Hong Kong

23 Mar - Hong Kong: Beneficial ownership requirements clarified by China; the Hong Kong tax perspective

16 Mar - China: Tax reforms, regulatory measures outlined at National People’s Congress meeting

16 Mar - India: Amendments to Finance Bill, 2018; approved by lower house

15 Mar - Australia: GST changes for developers supplying new residential premises (effective 1 July 2018)

12 Mar - China: Tax treaty treatment of partnerships, service PEs, international transportation

12 Mar - India: Transfer of shares to sub-subsidiary; application of loss offsets

9 Mar - New Zealand: Provisional value system for imports, new customs law expected by October 2018

7 Mar - New Zealand: Update on PAYE, employee share reporting bill

5 Mar - China: Guidance clarifying “beneficial ownership” for tax treaty purposes

5 Mar - Hong Kong: New corporate beneficial ownership requirements; “significant controllers register”

5 Mar - Australia: Opportunity for reduced penalty and interest, India-based companies providing Australian customers with technical services

2 Mar - Australia: FAQs about goods and services tax (GST) on low-value imported goods, effective July 2018

2 Mar - Turkey: Draft law changes for VAT; electronically supplied services

1 Mar - Bangladesh: VAT law postponed; corporate tax changes for industrial sectors

1 Mar - Egypt: Tax incentives under new law to encourage investment

1 Mar - Gulf Cooperation Council (GCC): VAT in Saudi Arabia, UAE, Oman, Qatar, Kuwait; excise tax in Bahrain

1 Mar - Oman: Court decisions concerning finance leases, carryforward of tax losses during exemption period; new withholding tax regime

1 Mar - Sri Lanka: New tax law effective 1 April 2018, includes VAT and “nation building tax” measures

1 Mar - UAE: Tax treaty with Saudi Arabia

February 2018

28 Feb - Hong Kong: Tax proposals in 2018-2019 budget

28 Feb - India: Loss carryforwards when shareholding changes; tax treaty rate controls

27 Feb - Thailand: Electronic commerce and “e-payment” and “e-tax” mechanisms

27 Feb - Australia: Proposed cost recovery for low-value imported goods

KPMG Asia Pacific Tax Centre


“Tax profiles” of countries in the Asia Pacific region

Summaries of the taxes that apply to businesses and to individuals in Asia Pacific countries

Read more >

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