News Asia
Taiwan Updates List Of Jurisdiction For CbC Exchange
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December 6th, 2018
The Taiwanese Ministry of Finance issued a notice on an updated reference list of Jurisdictions with which Taiwan is able to exchange Country-by-Country (CbC) reports effectively in accordance with existing in force agreements. The announcement followed by another declaration on exchange information agreement, in which Japan and Taiwan agreed to automatically exchange the Financial Account Information (CRS) in Tax Matters and of Country-by-Country Reports.
India and China Amend Double Taxation Avoidance Agreement (DTAA)
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November 27th, 2018
The Government of the Republic of India and the Government of the People's Republic of China have amended the Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, by signing a Protocol on 26 November 2018. The official protocol has not been published yet, but according to the Indian Ministry of Finance, the amendment includes the adoption of the latest standard on EOI and minimum standard on BEPS project.
Hong Kong Published Advance Tax Ruling Case No. 65
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October 4th, 2018
The Hong Kong Inland Revenue Department released Advance Ruling Case No. 65 to deal with tax treatment of assets, liabilities and losses in business combination.
China Expands The Scope Of Withholding Tax Relief On Dividends Of Foreign Investors Used For Direct Investment
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October 2nd, 2018
Chinese State Administration of Taxation (SAT) issued a circular (Circular Cai Shui [2018] No. 102) on 29 September 2018. This circular is retroactively applicable to dividends, bonuses and other equity investment gains received by foreign investors on or after 1 January 2018 and the Circular Cai Shui [2017] No.
China Increases Super Deduction For R&D Activities To 175%
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September 25th, 2018
The Chinese Ministry of Finance, the State Administration of Taxation and the Ministry of Science and Technology issued a circular (Cai Shui [2018] No. 99) about the super deduction for research and development activities (R&D).
India Approves Exemption To Interest Income On Specified Off-Shore Rupee Denominated Bonds
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September 18th, 2018
The Indian Ministry of Finance issued the new incentive measure that interest payable by an Indian company or a business trust to a non-resident, including a foreign company, in respect of rupee denominated bond issued outside India during the period from September 17, 2018 to March 31, 2019 shall be exempt from tax.
Background .
'One Stop' Inbound Investment Service to Europe
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August 17th, 2018
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
Headquartered in Amsterdam, the Netherlands, TPA Global is committed to providing one-stop.
Singapore Releases 3rd Edition Of CBCR Guidance
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August 8th, 2018
The Inland Revenue Authority of Singapore releases the third edition of guidance for Country-by-Country (CbC) Reporting. It is the first time Singapore tax authority amends the guidance since July 11, 2017.
India Signs Three More Unilateral APAs
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July 5th, 2018
On June 4, 2018, the Central Board of Direct Taxes (CBDT) has entered into three Unilateral Advance Pricing Agreements (UAPA) during the past couple of months. With the signing of these Agreements, the total number of APAs entered into by the CBDT has gone up to 223, which inter alia include 20 Bilateral APAs.
Singapore Published Guide On IP Rights Valuation Report
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July 3rd, 2018
The Inland Revenue Authority of Singapore (IRAS) published an e-Tax Guide on the Intellectual Property Rights (IPRs) Valuation Report. This Guide is aimed at coaching taxpayers when the taxpayers should submit an independent valuation report on qualifying IPRs for the purposes of Section 19B of the Income Tax Act (ITA).
China Broadens Super-Deduction To R&D Expenses Accrued Overseas
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June 28th, 2018
The Ministry of Finance, the State Administration of Taxation, and the Ministry of Science and Technology in China jointly issued a Circular (Cai Shui [2018] No.64), announcing a broader scope of expenses entitled to the super-deduction incentive for corporate income tax purpose.
Singapore Consults Proposed Changes To Income Tax Act
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June 21st, 2018
The Ministry of Finance of Singapore asked the public for opinions on the draft Income Tax (Amendment) Bill 2018 from June 20 to July 11, 2018.
Key Changes in the Proposed Amendments .
SAT Clarifies Corporate Tax Deduction For Shared Service Among Related Parties
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June 14th, 2018
The State Administration of Taxation issued a Bulletin (SAT Gong Gao [2018] No.28) to clarify what kind of accounting documents may be used for corporate tax deduction purpose.
Japan Comments On Central Corporate Services In New TP Guidelines
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May 31st, 2018
The Japanese Ministry of Finance has revised the administrative instructions on transfer pricing that takes place in, among other things, the central corporate services performances. In principle, these changes are in line with the OECD BEPS reports of October 2015.
Tax Cooperation On “One Belt One Road" Initiative Removes Trade Barriers
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May 24th, 2018
The Conference on Tax Cooperation within the framework of the " One Belt One Road " Initiative was held by the tax agencies of China and Kazakhstan and the OECD from May 14 to 16. Delegates from over 50 countries, regions and international organizations arrived in Astana, the capital of Kazakhstan, to attend the conference.
Pakistan - Senate Approves 5% Tax Tech Giants’ Revenue And CFC Rule
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May 8th, 2018
The Pakistani Senate Standing Committee on Finance approved three revisions suggested by the OECD for revising fiscal laws on digital economy taxation.
Dr Mohammad Iqbal, Policy Member of the Federal Board of Revenue (FBR) announced that the changes would lead Pakistani law to be compliant with OECD regulations.
Hong Kong To Triple R&D Incentives
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April 24th, 2018
The Hong Kong government gazetted the Inland Revenue (Amendment) (No. 3) Bill 2018. The Bill draft provides an enhanced tax deduction for expenditure incurred by enterprises on qualifying research and development (R&D) activities.
China To Levy 187.6% of Anti-Dumping Premium On US-Origin Grain Sorghum
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April 24th, 2018
The Ministry of Finance (MoF) in China recently issued a Circular, announcing to collect anti-dumping duties on the import of grain sorghum with US origin. This Circular follows up of the dumping investigation opened this February, with a preliminary decision provided in the attachment.
India To Enhance Transparency By Exchanging Rulings Under BEPS Action 5
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April 12th, 2018
The Central Board of Direct Taxes (CBDT) announced a proposing amendment to domestic law (rule 44E, Form 34C, 34D and 34DA) based on recommendations in BEPS Action 5. This revamp intends to improve transparency regarding tax rulings.
China Slightly Reduces VAT Rate
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April 12th, 2018
The State Administration of Taxation in China released a Circular (Cai Shui [2018] No.32), announcing a reduction to the current Value Added Tax (VAT) rate since May 1, 2018.

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