This edition of our quarterly Asia Tax Bulletin, reporting on significant tax related developments in Southeast Asia, Greater China, Japan, Korea and India. Included in this edition is the inter alia the trade war between the PRC and the USA, transfer pricing circulars issued by the IRD in Hong Kong, India’s tax changes proposed in the recent government Budget for 2019/2020 as well as the proposed tax reform, CFC changes and tax incentives in Indonesia, Korea’s Budget proposals, service tax developments in Malaysia and tax reform measures in the Philippines.

Singapore is one step closer to implementing the long awaited Variable Capital Company legislation, which will effectively put it on a par with the company law of the British Virgin Islands. Thailand introduced a VAT on foreign ecommerce operators and is encouraging foreign talent to relocate to Thailand by offering attractive tax benefits.