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

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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 - 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

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

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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