For a full summary of global tax developments, visit kpmg.com/TaxNewsFlash.
To contact the International Tax Team email internationaltax@kpmg.com.
To register for the International Tax webcasts, click here.
Australia
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Australia |
|||
Tax legislation approved and regulatory update |
Income tax |
28 March 2024 |
Changes to Top 1,000 combined assurance program. Read more. |
Proposed legislation |
Indirect tax |
28 March 2024 |
Legislation on interest limitation rules and foreign investment fees, bill on taxation of general insurers. Read more. |
Proposed legislation |
Indirect tax |
28 March 2024 |
Bill introduced to clarify “exploration for petroleum” meaning. Read more. |
Administrative and case law |
Income tax |
25 March 2024 |
Taxpayer entitled to interest deductions with respect to foreign related-party financing for third-party acquisition. Read more. |
Proposed legislation |
Indirect tax |
22 March 2024 |
Draft legislation to repeal stamp duty on commercial, industrial property and replace with property tax. Read more. |
Proposed legislation |
BEPS Pillar 2 |
22 March 2024 |
Consultation on draft legislation implementing Pillar Two global minimum tax rules. Read more. |
Proposed legislation |
Tax compliance |
21 March 2024 |
Consultation on new proposed reporting exemptions for electronic distribution platform operators. Read more. |
Proposed legislation |
Various tax topics |
19 March 2024 |
Tax promoter bill passes House, superannuation tax concessions, petroleum resource rent tax. Read more. |
Administrative and case law |
Income tax |
15 March 2024 |
General anti-avoidance rule did not apply to taxpayer’s distribution of income. Read more. |
Proposed legislation |
Tax compliance |
15 March 2024 |
Draft legislative instruments on filing requirements for 2024 returns. Read more. |
Administrative and case law |
Transfer pricing |
12 March 2024 |
Taxpayer failed to meet burden of proof in transfer pricing dispute. Read more. |
Proposed legislation |
Transfer pricing |
06 March 2024 |
KPMG comments on revised draft legislation implementing public country-by-country reporting. Read more. |
Administrative and case law |
Indirect tax |
05 March 2024 |
Overhead costs apportioned to Goods and Services tax-free supplies entitled to input tax credits. Read more. |
Bahrain
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
|
|||
Tax legislation approved and regulatory update |
Treaties |
11 March 2024 |
Tax treaty and investment protection agreement signed with Hong Kong. Read more. |
Tax legislation approved and regulatory update |
Indirect tax |
04 March 2024 |
Extension of record retention period for Value Added Tax (VAT). Read more. |
BahrainCambodia
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
|
|||
Tax legislation approved and regulatory update |
Transfer pricing |
04 March 2024 |
Market interest rate for related party loans, incentives for voluntary amendment of tax declarations. Read more. |
India
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
India |
|||
Administrative and case law |
Various tax topics |
15 March 2024 |
Service permanent establishment, provision of cloud-based software-driven platform as technical services. Read more. |
Tax legislation approved and regulatory update |
Tax compliance |
06 March 2024 |
Centralization of FATCA and common reporting standards (CRS) self-certifications. Read more. |
Administrative and case law |
Income tax |
05 March 2024 |
Deductions for payments to nonresidents upheld, discount by telecom company to distributor not a commission. Read more. |
Korea, Republic of (South)
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Korea, Republic of (South) |
|||
Tax legislation approved and regulatory update |
Income tax |
13 March 2024 |
Tax Law Amendment Bill Enacted into Law. Read more. |
Lao People's Democratic Republic
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Lao People's Democratic Republic |
|||
Tax legislation approved and regulatory update |
Indirect tax |
29 March 2024 |
Value Added Tax (VAT) on cross-border provision of digital services. Read more. |
Malaysia
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Malaysia |
|||
Tax legislation approved and regulatory update |
Indirect tax |
29 March 2024 |
Additional guidance on service tax. Read more. |
Tax legislation approved and regulatory update |
Various tax topics |
14 March 2024 |
Summary of income and indirect tax developments (March 2024). Read more. |
Tax legislation approved and regulatory update |
Indirect tax |
12 March 2024 |
Guidance on exemption from service tax for certain logistics services. Read more. |
Tax legislation approved and regulatory update |
Income tax |
06 March 2024 |
Recent guidance on capital gains tax. Read more. |
New Zealand
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
New Zealand |
|||
Proposed legislation |
Various tax topics |
15 March 2024 |
Amendments to May 2023 Tax Bill. Read more. |
Proposed legislation |
Income tax |
12 March 2024 |
Amendments to 39% trust tax rate proposal. Read more. |
Philippines
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Philippines |
|||
Proposed legislation |
Indirect tax |
07 March 2024 |
Proposed legislation regarding Value Added Tax (VAT) on cross-border provision of digital services. Read more. |
Sri Lanka
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Sri Lanka |
|||
Tax legislation approved and regulatory update |
Indirect tax |
27 March 2024 |
Amendments to Value Added Tax (VAT) law enacted. Read more. |
United Arab Emirates
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
United Arab Emirates |
|||
Proposed legislation |
Income tax |
14 March 2024 |
New proposed law on taxation of foreign banks (Dubai). Read more. |
Stay up to date with what matters to you
Gain access to personalized content based on your interests by signing up today
Connect with us
- Find office locations kpmg.findOfficeLocations
- kpmg.emailUs
- Social media @ KPMG kpmg.socialMedia
