April 25, 2022

Asia Tax Bulletin – Spring 2022


This edition covers many different topics which have surfaced over the past three months in the ASEAN countries and the PRC, India, Japan and Korea.

In particular, Hong Kong has a number of changes in tax development in 2022:

  • Looking to introduce tax incentives for the maritime sector and family offices operating out of Hong Kong.
  • Intention to present new tax legislation during the second half of 2022 to implement the OECD's minimum effective income tax rate of 15% for large multinationals.
  • New tax changes with respect to the taxation of offshore investment income due to the European Union's greylisting of Hong Kong in 2021.

Meanwhile, Thailand and Vietnam have signed the OECD’s Multilateral Instrument (also known as the Multilateral Treaty) which marks a big step for these countries in their fight against international tax avoidance.

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