Most Read Contributor in Hong Kong, September 2016
Here is the Spring edition of our quarterly Asia Tax Bulletin.
It features important developments in Southeast Asia, China,
Taiwan, Japan, Korea and India.
Let me highlight just a few of the items contained in this
edition. In China, real property investors and financial
institutions should note that the business tax will be withdrawn
and fully replaced by the VAT by June, and special rules have been
issued for B2C ecommerce transactions. Hong Kong, India and
Singapore issued their government's budgets with various tax
changes. Singapore has extended the tax exemption on qualifying
gains on the sale of shares by a Singapore company, and various tax
incentives have also been refined.
Hong Kong is proposing to relax the rules to claim tax
deductions for purchases of IP rights. India issued guidance on the
tax position of carrying out EPC/turnkey contracts in the country.
Korea announced that country-by-country reporting will commence in
We hope you will find this bulletin useful and as always, we
look forward to receiving your feedback if there are things we can
improve on. Do not hesitate to contact us if we can be of
assistance with any tax or legal matters in Asia.
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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
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On September 30, 2016, the VAT authorities confirmed that VAT shall apply to directors' fees.
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