The 2016 Autumn edition of the Asia Tax Bulletin which features important developments in Southeast Asia, China, Taiwan, Japan, Korea and India.
In China, there has never been a better, or more critical, time than now for enterprises to review their operations and activities that are subject to scrutiny and regulation by China Customs. In Hong Kong, there is guidance on taxation of corporate treasury activity, and in India, a new rule is relaxing the statutory requirement of withholding tax at a higher rate on payments to non-residents. In India, we bring news about the new Goods and Services Tax and about the new tax treaty in Mauritius.
In Indonesia, we bring you further news on the regulations of the recent tax amnesty and the proposed tax law amendments for 2017 in Korea, while in Malaysia, there could be sweeping changes on the horizon for digital platforms which are being targeted with a proposed new tax. In Singapore, the IRAS issued guidance on the application of the M&A tax deductions and a circular was issued on the application of the General Anti Avoidance Rule. Taiwan's Ministry of Finance has issued clarifying notes on the application of the new anti avoidance rules concerning Controlled Foreign Companies and the place of effective management.