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

Asia Pacific: Tax update for financial institutions

A summary of tax developments of interest to financial institutions in the Asia Pacific region from the third quarter of 2018 includes:

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Related content

  • Australia: Revised exposure draft of legislation to implement hybrid mismatch rules and to introduce new integrity rules for related-party loans from low-tax or no-tax jurisdictions or territorial tax regimes; release of exposure draft of legislation addressing branch mismatch hybrid arrangements and of tax integrity package aimed at stapled structures and foreign investor tax concessions 
  • Hong Kong: Two-tiered profits tax rate enacted; corporate beneficial ownership rules “tightened up”
  • India: Highlights of Union Budget 2018 proposals; FAQs on new tax regime of long-term capital gains proposed in Finance Bill, 2018; proposed amendments to the Finance Bill, 2018
  • Indonesia: New regulations on corporate income tax deductions
  • Korea: Revised tax provisions for 2018, recent advance rulings
  • Malaysia: Regulations concerning Labuan business activity tax (automatic exchange of financial account information); stamp-duty exemption
  • Mauritius: Country-by-country reporting regulations
  • New Zealand: Investment income reporting changes enacted; dividends stripping described in a Revenue Alert
  • Philippines: Tax reform legislation enacted; rules and regulations to implement the tax reform law
  • Singapore: Budget 2018 tax updates

 

Read an October 2018 report [PDF 1.58 MB] prepared by the KPMG member firm in Hong Kong

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