Most Read Contributor in Hong Kong, September 2016
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.
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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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