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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 2019

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

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 - 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 - United Arab Emirates: 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

26 Feb - Australia: Fringe benefits tax planning

21 Feb - Thailand: Individual income tax returns due 31 March; itemized vs. standard deduction

21 Feb - Thailand: New real property rights, intended to encourage investments

20 Feb - Singapore: Budget 2018

20 Feb - Singapore: Tax authority updates GST guidance

20 Feb - Pakistan: Company Act update

15 Feb - Australia: Chinese outbound investment regulations, implications for Australian businesses

15 Feb - India: Withholding on property sales, capital gains under Mauritius treaty

15 Feb - Papua New Guinea: Tax authorities increase focus on compliance; automatic penalties for late-filed returns

14 Feb - Singapore: Possible tax measures in budget for 2018

12 Feb - China: Changes to tariffs on IT imports, certain commodities

12 Feb - China: Guidance on implementing customs advance rulings program, effective 1 February 2018

9 Feb - India: FAQs on proposed long-term capital gains tax measures

9 Feb - Australia: Proposed measures for GST withholding on residential premises

7 Feb - Australia: Diverted profits tax, compliance guide issued by Australian Taxation Office

6 Feb - Philippines: Multinational company employees subject to regular income tax rates; preferential tax treatment no longer available

2 FebIndia: Tax proposals in Union Budget 2018-19

2 Feb - Taiwan: Income tax law measures affecting corporate, individual taxpayers

1 Feb - Asia Pacific: General tax update for financial institutions (January 2018)

1 Feb - Korea: Tax reform legislation includes corporate income tax items

November 2017

28 Nov - Singapore: “Customer accounting” for goods and services tax (GST)

28 Nov - Thailand: Preferential tax regimes, status under BEPS “harmful tax practices” standard

28 Nov - Thailand: Proposals concerning VAT and foreign e-commerce transactions

28 Nov - India: Tax treatment of asset transfer, from non-resident to resident

17 Nov - India: Goodwill depreciation; tax treaty provisions, secured notes redemption

16 Nov - China: New withholding tax administrative guidance

15 Nov - China: VAT guide (2017), overview of indirect tax system

15 Nov - Hong Kong: IRD guidance on concessionary tax regime for aircraft leasing activities

14 Nov - Japan: Overview of taxation system (2017)

13 Nov - Singapore: Tax incentives meet international BEPS standards

13 Nov - Singapore: Tax relief for corporate re-domiciliations

10 Nov - Australia: GST liability for offshore sellers, low value imported goods

10 Nov - India: U.S. state taxes paid eligible for foreign tax credit

9 Nov - Gulf Cooperation Council (GCC): VAT and indirect tax updates

9 Nov - Kuwait: New processes for tax appeals, tax payment

9 Nov - Oman: New rules for withholding tax

9 Nov - Saudi Arabia: Income tax changes include measures affecting oil and hydrocarbon sector

9 Nov - Egypt: New capital gains tax rules; stamp tax changes

7 Nov - Indonesia: Guidelines for tax audits of individual taxpayers

3 Nov - India: Oil rig fees; CBDT guidance cannot apply retroactively

1 Nov - Bangladesh: Provisions continue tax holidays; changes to corporate tax rate; new tax exemption relating to infrastructure projects

1 Nov - Malaysia: Tax provisions in 2018 budget

1 Nov - Thailand: Income tax treaty with Cambodia

1 Nov - Sri Lanka: Tax reform measures, effective April 2018

October 2017

31 Oct - India: No permanent establishment under tax treaty with United States, back-office support services

31 Oct - Philippines: Proposed excise tax on sugar-sweetened beverages

30 Oct - New Zealand: Post-election tax policy

30 Oct - Singapore: Air conditioning and peripheral machinery, proposed property tax liability

27 Oct - Malaysia: Earnings stripping rules

24 Oct - Australia: NSW stamp duty refunds, “reputable developers” of real estate

24 Oct - India: “Place of effective management” clarifying guidelines

24 Oct - Indonesia: VAT exemption for “basic necessities”

18 Oct - Japan: New income tax treaty signed with Denmark

17 Oct - Australia: ATO change in audit procedures, “real-time compliance”

17 Oct - Hong Kong: Regional headquarter tax incentive would benefit local economy

16 Oct - India: In-house R&D guidelines; rules for claiming depreciation

16 Oct - Singapore: Direct link required for money borrowed and income produced; interest expense from capital restructuring denied

13 Oct - Asia Pacific: Tax update for financial institutions (October 2017)

13 Oct - Hong Kong: Tax measures proposed in 2017 tax policy

12 Oct - UAE: VAT registration deadlines; first due date is 31 October

12 Oct - Australia: Identifying taxpayers that must file “general purpose financial statements”

11 Oct - Australia: Changes to wine equilisation tax rebate rules, effective July 2018

11 Oct - Australia: R&D activities registration deadline is 31 October 2017

11 Oct - China: Tax incentives expanded, foreign investments in advanced technology services

9 Oct - India: Dividend distribution tax; foreign tax credit verification

2 Oct - Turkey: Draft legislation includes increased tax rates for companies, individuals

2 Oct - Turkey: Rights to taxation under network of income tax treaties

September 2017

26 Sep - Japan: Tax treaty signed with Russia

26 Sep - Korea: Foreign tax credits and withholding tax under tax treaty

26 Sep - China: Tax planning, negotiations for sales and purchase agreements

21 Sep - India: REIT amendments; GST forms and review

20 Sep - Australia: Foreign-owned groups and tax consolidation; proposed “churning measures”

20 Sep - UAE: Registration user guide; excise tax law effective 1 October 2017

19 Sep - China: Monthly summary of trade and customs developments (August 2017)

19 Sep - Australia: Corporate collective investment (CCIV) regime; an alternative to managed investment trust (MIT) regime?

15 Sep - Australia: Consolidation integrity measures; treatment of liabilities when entity joins tax consolidated group

15 Sep - Vietnam: Mandatory contributions to natural disaster fund

14 Sep - Thailand: Update on labor law provisions, implications for employers

13 Sep - Australia: GST safe harbor rate of 18% for customer-owned banking institutions

13 Sep - India: Tax treatment of compounding fee, non-compete fee, foreign taxes

13 Sep - New Zealand: Tax positions of the political parties, 23 September election

12 Sep - Vietnam: Proposals to amend direct and indirect taxes

11 Sep - Taiwan: Tax reform proposals affecting both corporate and individual taxpayers

6 Sep - Australia: “Super guarantee gap” reforms released by tax authorities

6 Sep - Australia: Real-time payroll reporting by large employers to ATO effective 1 July 2018

6 Sep - Thailand: New customs law effective November 2017

6 Sep - Thailand: Tax, legal requirements for representative offices of foreign companies

1 Sep - Taiwan: Tax audits of representative offices of foreign companies (PDF 216 KB)

August 2017

31 Aug - Australia: Draft legislative framework for implementing corporate collective investment vehicle (CCIV) regime

28 Aug - China: Dividend withholding tax deferral for reinvestments; goal is to encourage foreign direct investment

25 Aug - China: Foreign direct investment incentives; limits on foreign equity stakes in Chinese enterprises to be lifted

25 Aug - Singapore: Tax incentives proposed for companies relocating to Singapore

25 Aug - Vietnam: Guidance on financial audits of foreign-invested enterprises

24 Aug - Australia: ATO guidance for superannuation funds using “propagation arrangements” for reporting capital gains

23 Aug - India: Profits from offshore, onshore services attributable to permanent establishment

23 Aug - Indonesia: Amended controlled foreign company (CFC) rules 

23 Aug - UAE: New framework for tax system

22 Aug - China: Implications of WCO advisory opinion, royalties and license fees

22 Aug - India: Aligning book profit computation for tax, accounting purposes

20 Aug - Bahrain: Preparing for complying with VAT

20 Aug - Qatar: Expectations for VAT system

18 Aug - Indonesia: New “certificate of domicile” forms for non-resident taxpayers

18 Aug - Singapore: “Global trader programme” expanded, concessionary income tax rates

17 Aug - Australia: Employer obligations for cross-border executives

17 Aug - Thailand: Proposal to allow companies to adopt foreign functional currency for corporate income tax purposes

17 Aug - UAE: VAT legislation expected in autumn 2017

11 Aug - India: R&D expense deduction; no permanent establishment under treaty with Japan

10 Aug - China: Customs clearance integration regime, launched on nationwide basis

10 Aug - Australia: Capital gains tax proposal, “small interests” of foreign residents in Australian real property

9 Aug - Australia: New “Reportable Tax Position” schedule to be filed with corporate tax return 

4 Aug - Australia: Changes to attribution managed investment trust (AMIT) regime

3 Aug - Australia: Taxation of discretionary trust distributions proposal

3 Aug - India: Share transfer, reorganisation; capital gains and book profit computation

3 Aug - Vietnam: Gross-ups and compulsory insurance contributions, salaried employees

1 Aug - China: Tax policies and lifecycle of public-private partnership projects in China

1 Aug - Pakistan: Company Act, 2017 rules apply for companies with financial year closing after 30 June 2017

July 2017

28 Jul - Australia: Proposal to remove capital gains tax, main residence
exemption for foreign residents

28 Jul - Indonesia: Cost recovery, income tax: upstream oil and gas activities

28 Jul - Kazakhstan: Tax legislative update, amendments

28 Jul - Korea: Foreign income calculation, research tax credit, trustee’s VAT liability 

27 Jul - India: Withholding tax issues concerning PAN numbers, GST on services, limitations

27 Jul - Indonesia: Cost recovery, income tax of upstream oil and gas activities; access to financial information for tax purposes; taxpayer domicile certificates

27 Jul - Australia: “Early stage investor tax incentive” reports due 31 July 2017

25 Jul - Australia: Application of similar business test in accessing tax losses, bad deductions, net capital losses

25 Jul - Australia: Debt, equity and hybrid mismatches; Australia's treatment of hybrid loans

25 Jul - Saudi Arabia: Draft regulations for implementing VAT regime

19 Jul - Japan: CFC regime measures amended, 2017 tax reform

19 Jul - Malaysia: Corporate governance update, 2017

19 Jul - Saudi Arabia: Excise tax update

18 Jul - India: Minimum alternate tax computation; unquoted shares valuation; other developments

14 Jul - Japan: Agreement with EU would remove, reduce customs tariffs 

13 Jul - Thailand: New law concerning employers and foreign employees

13 Jul - Vietnam: Tax and transfer pricing implications of technology transfers, new law

7 Jul - Hong Kong: Profits tax exemption, privately offered open-ended fund companies

6 Jul - Australia: Diverted profits tax, effective from 1 July 2017

6 Jul - China: Opportunities for private enterprises, multinational entities, individuals to partner in joint ventures with state-owned enterprises

6 Jul - India: Service permanent establishment found, despite no physical presence

6 Jul - Thailand: Potential implications of draft legislation on foreign e-commerce companies

6 Jul - Vietnam: Foreign contractor tax liability, goods imported before October 2014

5 Jul - China: VAT rules for asset management products; guidance affecting banks, securities investment funds, trusts, equity funds, others

5 Jul - EU: Customs cooperation agreement with New Zealand

5 Jul - Japan: Retroactive transfer price adjustments, from customs valuation perspective

5 Jul - Thailand: Proposals concerning tax treatment of e-commerce transactions, businesses

4 Jul - Bangladesh: Finance Bill 2017 preserves current tax holidays for certain investments, minor adjustments to corporate tax rates

4 Jul - Egypt: Regulations on implementing VAT regime

4 Jul - Gulf Cooperation Council (GCC): Framework agreement for VAT on goods and services; standard rate of 5% to apply beginning 2018

4 Jul - Kuwait: Update on draft excise tax bill; tax authority’s policy on corporate tax retentions

4 Jul - Oman: Guidance on withholding tax; electronic filing requirements; taxation of Islamic finance transactions

4 Jul - Sri Lanka: Updates on Economic Service Charge, Nation Building Tax; new tax law proposed

June 2017

30 Jun - Hong Kong: Concessionary tax regime for aircraft leasing enacted; effective from 2017/18 assessment year

29 Jun - Australia: ATO identifies issues concerning securitised licence structure of public private partnership (PPP) projects

29 Jun - Australia: Changes to ATO's reportable tax position schedule

29 Jun - Australia: New draft ruling regarding employee travel expenses

29 Jun - Australia: Tax provisions in 2017 NSW budget

29 Jun - Australia: Tax provisions in South Australia state’s 2018 budget

26 Jun - Vietnam: Corporate and individual income tax guidance, VAT and customs

21 Jun - Thailand: Qualifying services are exempt from foreign business license requirement

21 Jun - Vietnam: Incentives, tax support for SMEs in new law

20 Jun - Indonesia: Book value for asset transfers, acquisitions in corporate reorganizations

20 Jun - Azerbaijan: Proposed changes to customs code

19 Jun - Azerbaijan: Applying for VAT exemption, VAT zero-rated electronically

19 Jun - Australia: Only legal owner of goods at time of export may file claims for duty drawbacks

19 Jun - Japan: Amended scope of inheritance tax, gift tax for property located outside Japan

16 Jun - India: GST regime update; royalty under tax treaty with Germany

16 Jun - India: “Place of effective management,” determining foreign company’s tax residence

16 Jun - Australia: Tax provisions in Queensland’s 2017 budget

15 Jun - Australia: ATO position on groups with foreign-incorporated subsidiaries; central management and control determines tax residency 

9 Jun - Australia: First budget changes to foreign resident CGT withholding tax

9 Jun - Australia: NSW housing affordability measures ahead of 2017 state budget

9 Jun - China: Corporate tax, VAT incentives are effective in 2017

9 Jun - Singapore: Changes to financial sector incentive (FSI) schemes

9 Jun - Vietnam: Taxation in digital economy

7 Jun - China: Realignment of new energy vehicles sector possible in 2017

7 Jun - Pakistan: Provincial finance bills 2017, Sindh and Punjab provinces 

6 Jun - India: No depreciation allowed for government authorisations

6 Jun - Kazakhstan: Tax treatment of bank restructurings; VAT registration rule changes

6 Jun - Philippines: Tax-free exchanges; transfers to a controlled corporation, and transfers pursuant to a merger or consolidation

6 Jun - Saudi Arabia: Unified VAT agreement of GCC states (text in English)

6 Jun - Thailand: New, expanded customs measures effective in November 2017

6 Jun - Australia: R&D issues to consider for financial year-end

5 Jun - Australia: "Major bank" tax levy

2 Jun - Australia: ATO guidance on “fair and reasonable” apportionment of superannuation fund expenses

2 Jun - New Zealand: Proposals for feasibility expenses and start-ups’ share schemes

May 2017

30 May - Korea: Decisions on information returns, holding companies, tax-exempt business income

30 May - Pakistan: Tax provisions in budget 2017

30 May - Australia: Status, update on attribution managed investment trust (AMIT) regime

29 May - Australia: Tax treatment of stock rights and “retail premiums” under renounceable rights offers

29 May - Thailand: Amendments to business laws (table fomat)

29 May - Thailand: Extension of time, corporate taxpayers filing audited accounts electronically

29 May - UAE: Excise tax on tobacco, energy and carbonated drinks, other goods

26 May - China: Preferential tax treatment on premiums paid for health
insurance; companies can assist employees purchasing qualified insurance

25 May - Australia: Employer held liable to its employees’ former employer, for their breach of confidential information

25 May - India: Expense reimbursements not taxable; transfer pricing study showed no profit element

24 May - Hong Kong: Expanded scope of aircraft leasing regime; operating leases for all airlines, without regard to tax treaty status

23 May - Japan: Proposed customs declarations regime for AEO-approved importers, exporters

19 May - Australia: ATO's position on corporate limited partnership credit; limited partnerships taxed as companies, partners as shareholders

18 May - Australia: Stapled structures; updated from consultation paper

17 May - Australia: Qualifying for the small business tax rate

17 May - India: Character of income, sub-licensing of property; foreign exchange loss

17 May - India: Dividend distribution tax; GST input credit matching

17 May - Singapore: Tax treatment of employer contributions to foreign pension funds

16 May - Philippines: Dividends, interest, royalties; new procedures for tax treaty relief

9 May - Australia: Tax provisions in federal budget 2017

8 May - Australia: Federal budget 2017 to be delivered 9 May

8 May - India: Equity share valuations; “tax holiday” determinations

8 May - Myanmar: De minimis threshold, exemptions, other withholding tax changes

5 May - China: Simplified visa application process for foreign workers

4 May - Australia: Stamp duty and land tax changes proposed in Victoria, Northern Territory budgets

2 May - Hong Kong: Concessionary tax regime for aircraft leasing activities

April 2017

28 Apr - Australia: Report on operation of petroleum resource rent tax (PRRT)

28 Apr - India: Fixed place PE; going concern vs. slump sale

28 Apr - Thailand: New tax rules on permanent establishment and e-commerce to be introduced

28 Apr - Vietnam: Guidance on depreciation, corporate income tax incentives, input VAT

26 Apr - India: Waiver of interest by amalgamating company; place of effective management

26 Apr - Australia: Senate hearing on taxing online low-value imported goods

19 Apr - Australia: U.S. and UK perspectives on cross-border vessel leasing

18 Apr - Australia: Proposed superannuation amendments to implement “transition retirement income streams”

17 Apr - India: GST update; merger of foreign company with Indian company

17 Apr - Singapore: Framework for new corporate structure (S-VACC), tax perspectives 

17 Apr - Taiwan: VAT amendments affecting e-commerce are effective 1 May 2017

17 Apr - Australia: Proposed legislation on loss recoupment rules; flexible “similar business test”

13 Apr - Australia: Increased administrative penalties for significant global entities

13 Apr - Australia: Increased benefits under R&D tax incentive

11 Apr - Australia: “Justified trust” initiative; focus on tax performance and tax governance

11 Apr - India: Application of foreign tax credit under U.S. tax treaty

11 Apr - India: “House rent allowance” exemption; royalty under India-Italy tax treaty

11 Apr - Singapore: Changes to rules on foreign direct investment in India

10 Apr - Singapore: Interest expense from capital restructuring disallowed

10 Apr - New Zealand: Draft legislation, new employee share scheme and PAYE reporting

4 Apr - India: Patent box regime rules

4 Apr - India: Simplified income-tax return forms

4 Apr - Singapore: Enhancements to global trader programme, finance and treasury centre incentive

3 Apr - Hong Kong: Human resources and global mobility BEPS issues

March 2017

31 Mar - China: Incentive regime for establishing regional headquarters in Shanghai

31 Mar - India: Amortisation involving share premium; taxation of payments for advertising

31 Mar - Japan: Tokyo local tax rate changes for companies, postponed

31 Mar - Thailand: Penalties not deductible expenses

30 Mar - Indonesia: PE status for applications, content services provided via internet

29 Mar - China: Announcement reflects certain BEPS-related items on intangibles; consolidates previous regulations on self-adjustments and
outbound payments

29 Mar - China: Rules of origin of imported goods from least developed countries

29 Mar - India: FAQs on income computation; Finance Bill 2017 amendments

29 Mar - Japan: Corporate tax items in now approved tax reform legislation

29 Mar - New Caledonia: General consumption tax, effective 1 April 2017

29 Mar - Singapore: Residential property “cooling measures” include duty (tax) items

29 Mar - Vietnam: Corporate tax incentives; foreign contractor tax on bank charges

28 Mar - Australia: Pending legislation to reduce corporate tax rate,
increase R&D benefit for SMEs

24 Mar - Australia: Employee share scheme reporting preparation

24 Mar - Australia: Managed investment trusts eligibility requirements

24 Mar - Australia: Superannuation changes to self-managed super funds beginning July 2017

17 Mar - India: Withholding tax rates, treatment of payments under tax treaties

17 Mar - Singapore: Guidance on tax treatment of REITs, approved sub-trusts

17 Mar - Singapore: Tax incentives to encourage development of intellectual property

16 Mar - Australia: Foreign companies with “central management and control” in Australia; new guidance issued

16 Mar - Australia: Former judges appointed to review court settlements between taxpayers and ATO

15 Mar - New Zealand: Year-end wrap; planning for 2018

14 Mar - Japan: Proposed changes, trade control and import/export procedures

13 Mar - Thailand: Potential criminal liability of company representatives

8 Mar - India: Payments for telecommunication system; foreign investments in LLPs

7 Mar - Myanmar: Development zones established under investment law

6 Mar - Myanmar: Withholding tax changes effective April 2017

2 Mar - Bangladesh: Corporate tax rate changes; tax holiday; VAT law
effective July 2017

2 Mar - India: Permanent establishment, agency present under tax treaty with United States

2 Mar - Singapore: Determining the tax deductibility of common interest expenses

2 Mar - Sri Lanka: Update on VAT and NationBuilding Tax (NBT); proposals in 2017 budget

1 Mar - Egypt: VAT introduced, new rules for settling tax disputes

1 Mar - Gulf Cooperative Council: GCC countries prepare for VAT in 2018

1 Mar - Jordan: New tax treaties, tax rates, investment incentives

1 Mar - Kuwait: Tax cards, tax declarations, investment promotion applications

1 Mar - Oman: 2017 budget highlights

1 Mar - Saudi Arabia: Follow-up, tax and zakat postponed for listed companies

1 Mar - UAE: Updates on tax treaties, information exchange agreements; new free zone

2016 Articles

December 2016

22 Dec - China: VAT reform rules; retroactive changes effective 1 May 2016  

21 Dec - India: Computing section 10A deduction; intra-group services; “deemed profit” rate

21 Dec - New Zealand: Customs and excise tax bill referred for consideration

20 Dec - Malaysia: Withholding tax, royalty and service fee payments to non-residents

20 Dec - New Zealand: Opportunities Party’s asset tax policy

20 Dec - New Zealand: Tax administration transformation proposals released

19 Dec - India: Tax treatment of subsidiary’s losses; foreign exchange gains

15 Dec - Japan: Overview of the taxation system (2016)

14 Dec - Australia: Overseas company is tax resident because of “central management and control”

14 Dec - Japan: Outline of tax reform proposals for 2017

14 Dec - Taiwan: VAT to include foreign e-commerce businesses

12 Dec - China: VAT treatment of prepaid cards

12 Dec - India: “Slump sale” taxation; income distribution by securitisation trust

12 Dec - Japan: Anti-tax haven (CFC) proposals in 2017 tax reform

12 Dec - Japan: Taxable income of non-permanent individual residents, 2017 tax reform

12 Dec - Vietnam: Capital gains tax, offshore transfers of shares or capital

8 Dec - Australia: Tariff reductions, changes effective beginning in 2017

8 Dec - India: Tax treaty with Cyprus; depreciation of intangible asset

7 Dec - Hong Kong: Mainland China, Hong Kong investors to trade stocks on each other’s market

2 Dec - China: Summary of weekly tax developments

1 Dec - Australia: ATO's latest settlement statistics

1 Dec - Australia: Draft legislation amending GST on low value goods

1 Dec - Indonesia: VAT refunds; reimbursements to production sharing contractors, upstream oil and gas activities

1 Dec - Myanmar: Trade restrictions lifted, opportunities for importers

1 Dec - Vietnam: Corporate income tax, VAT, customs guidance

November 2016

30 Nov - Australia: Diverted profits tax advances, implications for foreign companies

30 Nov - Japan: Guidance, application forms relating to tax agreement with Taiwan

29 Nov - Australia: New attribution managed investment trust (AMIT) regime; pricing of transactions between stapled entities

29 Nov - India: Tax bill addressing “black money” and other items

29 Nov - Myanmar: Withholding tax update for large taxpayers

29 Nov - New Zealand: Business tax legislation update

29 Nov - Vietnam: More post-customs clearance audits expected in remainder of 2016

28 Nov - China: Tax treaties and implications of OECD’s multilateral instrument

28 Nov - New Zealand: Update on tax legislation, closely held companies

28 Nov - Sri Lanka: Revised “nation building tax” threshold; no rate change

28 Nov - Sri Lanka: VAT legislative changes

28 Nov - Thailand: Corporate meetings via electronic media formally adopted by Ministry of Commerce department

18 Nov - India: Computer software transfer abroad eligible for section 10A tax benefits

18 Nov - Japan: Consumption tax, delayed rate increase to 2019; new invoicing system for 2023

18 Nov - Japan: Delayed consumption tax rate increase affects local corporation taxation

18 Nov - New Zealand: Inland Revenue focus on tax governance

18 Nov - Vietnam: Transfer of right to use trademark subject to VAT

17 Nov - China: Pilot program, employment permits for foreigners launched in Shanghai

17 Nov - China: Tax incentives for employee equity awards, certain capital contributions

17 Nov - Thailand: Tax, customs departments now have access to each other’s database

16 Nov - China: Summary of weekly tax developments

16 Nov - Australia: Government's inconsistent “super fund” policy concerning capital gains tax rollover relief

16 Nov - Australia: Large infrastructure and property transactions, interest withholding tax exemption

16 Nov - India: Maximum depreciation rate limited to 40%; R&D weighted deduction

15 Nov - China: AEOI guidance, due diligence and financial accounts of non-residents

15 Nov - Japan: Enhanced penalties for deficient customs declarations or non-declarations

14 Nov - Gulf Cooperation Council (GCC) countries propose introduction of VAT

11 Nov - Australia: Labor's “super reform” package mistakes targeted policies for tax loopholes

11 Nov - China: VAT pilot program launched in seven bonded customs zones

11 Nov - India: Subsidiary's managing director gives rise to permanent establishment

11 Nov - Malaysia: Double tax deduction incentive available for qualifying expenses of companies

11 Nov - Philippines: Taxpayer identification numbers; cooperative members and certificates of tax exemption 

October 2016

28 Oct - Singapore: Anti-avoidance provision applied in income tax case

28 Oct - Thailand: Information sharing between Customs, Revenue departments results in assessments

26 Oct - India: Tax treatment of sale of partnership assets; expeditious refunds

25 Oct - Australia: Alternative GST calculation of overseas freight and insurance, if unknown at import

24 Oct - Australia: Register R&D activities before 31 October deadline, for  full rate of incentive

24 Oct - China: Customs audit regulations effective 1 November 2016

24 Oct - Malaysia: Tax proposals in 2017 budget 

20 Oct - Australia: ATO's new guidance on calculating fringe  benefit tax for cars

20 Oct - Indonesia: Reduced rate of tax on income from land, building rights transfers

19 Oct - Australia: ATO draft ruling regarding eligibility for exemptions on foreign dividends

19 Oct - China: Tax rules, implications for private equity funds

19 Oct - Myanmar: Effects of removal of U.S. sanctions on investments in Myanmar

19 Oct - Thailand: Royalties to include rentals under the new income tax treaty with Singapore

18 Oct - India: Depreciation of goodwill; curative provision applies retroactively; lump-sum payments

17 Oct - Malaysia: Expectations for tax proposals in upcoming budget

17 Oct - Japan: Customs scrutiny of certificates of origin from exporters, manufacturers

13 Oct - Japan: New income tax treaty signed with Belgium

12 Oct - Australia: Guidelines on foreign stamp duty surcharge in Queensland

11 Oct - Australia: Taxation of payments made to an Indian company; royalty vs. business profits

11 Oct - Taiwan: VAT on foreign e-commerce, online transactions

10 Oct - China: Measures in Guangdong to attract foreign personnel, talent

6 Oct - India: Income tax computation guidance; tax treatment of interest to partners and share issuance

6 Oct - New Zealand: Revised Inland Revenue position, feasibility expenditure deductions

5 Oct - Australia: GST rules related to cross-border supplies

“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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