There has been a lot happening in Asian taxation. Hong Kong is launching its treasury centre tax incentive, while in China, some of the major developments include abolishing business tax, services now being subject to VAT, and the issuing of various clarifications on how to apply the VAT.

Indonesia's parliament has approved the long-awaited tax amnesty programme. India and Mauritius have signed a protocol to their tax treaty which abolishes the Indian capital gains tax protection for investments in India – this amendment has an immediate effect on the Indian capital gains tax protection under India's tax treaty with Singapore, which will have a major impact on investment structures into India.

The Asian countries are in the process of revising their information exchange laws to embrace the country-by-country report exchanges proposed by the OECD in the context of combating international tax avoidance. These and other tax developments are highlighted in this edition of the Asia Tax Bulletin. Our aim is to make this publication as interesting and beneficial as possible, so, if you have any questions or feedback, we'd like to hear from you.

Get the full bulletin

Visit us at

Mayer Brown is a global legal services organization comprising legal practices that are separate entities (the Mayer Brown Practices). The Mayer Brown Practices are: Mayer Brown LLP, a limited liability partnership established in the United States; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales; Mayer Brown JSM, a Hong Kong partnership, and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. "Mayer Brown" and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.

© Copyright 2016. The Mayer Brown Practices. All rights reserved.

This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein. Please also read the JSM legal publications Disclaimer.