This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Asia Pacific & MENASA Regions between 1 April and 30 April 2019.
For a full summary of global tax developments, visit home.kpmg/TaxNewsFlash.
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|Tax area concerned||Relevant date||Description of measures and publication link|
|Proposed legislation||Budget||3 April 2019||KPGM in Australia prepared a summary of the main features of the Australian Federal Budget 2019. Read more.
|Proposed legislation||Capital gains tax||26 April 2019||The ATO has issued a draft taxation determination reminding taxpayers that assets used by companies to mainly derive rent can’t access the small business CGT concessions. Read more.
|Administrative and case law||Corporate limited partnership||4 April 2019||KPMG in Australia discusses a Full Federal Court decision, a comprehensive victory for the ATO, which covered a number of very important areas of taxation. Read more.
|Treaties||Double taxation treaty||28 March 2019||KPMG in Australia discusses the new tax treaty with Israel and how it will impact cross-border enterprise. Read more
|Tax legislation approved and regulatory update||Customs||1 May||Dutiable royalties are required to be declared to China Customs within 30 Days after payment. Read more
|Treaties||Double taxation treaty||March 2019||Representatives of the governments of Italy and China signed a new income tax treaty—an agreement for the avoidance of double taxation and to prevent fiscal evasion. Read more.|
|Tax legislation approved and regulatory update||Research and development/Tax incentives
||18 April 2019||The Hong Kong Inland Revenue Department released its practice note regarding the research and development tax concession in Hong Kong. Read more.
|Administrative and case law||GST||26 April 2019||The Central Board of Indirect Taxes and Customs has issued guidance (notifications and circulars) concerning the GST regime in India. Read more
|Administrative and case law||GST||23 April 2019||The High Court of Telangana held that tax paid on inputs became an input tax credit only when the return that included a claim for input tax credits was filed. The case is: Megha Engineering & Infrastructures Ltd.. Read more.
|Administrative and case law||Service tax||15 April 2019||The Supreme Court of India dismissed an appeal filed by the tax authorities, thereby effectively upholding a decision of a tribunal finding that an Indian company did not owe service tax on the salaries paid to employees deputed (assigned) by a foreign parent company to work for the taxpayer in India. Read more.
|Administrative and case law||Various tax areas||April 2019||
KMG in India has prepared reports about the following tax developments:
|Tax legislation approved and regulatory update||Tax credits||April 2019||The Ministry of Finance issued a regulation concerning tax credits on overseas income and specifically concerning the availability to claim foreign tax credits in Indonesia. Read more.
|Tax legislation approved and regulatory update||Tax incentives||April 2019||The Ministry of Finance issued a regulation that amends the “corporate tax holiday” rules that are available to encourage investment in Indonesia. Read more.
|Tax legislation approved and regulatory update||VAT||March 2019||In late March 2019, the Minister of Finance withdrew and revoked a regulation concerning the imposition of VAT on e-commerce transactions before the regulation was effective. Read more.|
|Tax legislation approved and regulatory update||Tax Reform||27 March 2019||The 2019 tax reform bills were passed by the 198th ordinary session of the Japanese National Diet. Read more.
|Tax legislation approved and regulatory update||Tax compliance||19 April 2019||Changes to the corporate tax law in Kazakhstan that need to be considered for returns filed for 2018. Read more.
|Proposed legislation||Capital gains tax||17 April 2019||New Zealand’s government responded to the Tax Working Group final report recommendations, and the headline is: no capital gains tax. Read more|
|Proposed legislation||Tax incentives/R&D||16 April 2019||A bill that would introduce a research and development (R&D) tax incentive to support and further promote R&D for New Zealand businesses has passed its first reading in Parliament. Read more|
|Tax legislation approved and regulatory update||Tax Amnesty||April 2019||April 2019The Department of Finance issued Revenue Regulations, to implement and provide guidelines on the processing of Tax Amnesty Application on Tax Delinquencies under the “Tax Amnesty Act”. Read more.|
|Tax legislation approved and regulatory update||Corporate income tax||13 December 2018||There is a new income tax law in Qatar that is generally effective 13 December 2018. Read more|
|Tax legislation approved and regulatory update||Labor law||5 April 2019||The new Labor Protection Act was published in the Government Gazette. Read more.|
|Tax legislation approved and regulatory update||Tax incentives||March 2019||In late March 2019, the Thai Cabinet approved three Royal Decrees cancelling tax incentives previously granted by the Thai Revenue Department. Read more.|
|Treaties||Double taxation treaties||April 2019||Recent tax treaty-related developments from the UAE. Read more.|