KPMG's global editions of TaxNewsFlash are maintained and distributed by KPMG in the United States. When you click the hyperlinks below, you will be directed away from this page owned by KPMG International and redirected to a page owned by KPMG in the United States.  

Recent Articles

June 2024

17 Jun - India: General anti-avoidance rule may apply even if not within scope of specific anti-avoidance rule (High Court decision)

14 Jun - Cambodia: Guidance on income tax incentives for expanded qualified investment projects

13 Jun - Australia: Withholding schedules for estimated taxes for 2024-2025

13 Jun - Pakistan: Direct and indirect tax measures in Finance Bill, 2024

12 Jun - Malaysia: Summary of income and indirect tax developments (June 2024)

11 Jun - Bangladesh: Income tax and VAT proposals in Finance Bill 2024

11 Jun - UAE: Guidance on manpower services versus Visa facilitation services for VAT purposes

11 Jun - Australia: Proposed increase in stamp duty exemptions for first-time home buyers (Queensland)

7 Jun - Australia: Payment times reporting legislation passes House

7 Jun - Australia: Petroleum resource rent tax deductions cap in effect from 1 July 2023

7 Jun - Australia: Tax relief measures in 2024 budget (South Australia)

7 Jun - India: Mere existence of subsidiary in India does not automatically constitute a permanent establishment (High Court decision)

6 Jun - Australia: Legislation including “Buy Now, Pay Later” and build-to-rent measures introduced to Parliament

6 Jun - Australia: Reporting exemption for specified transactions for electronic distribution platform operators

6 Jun - Vietnam: Recent direct and indirect tax developments

5 Jun - India: Guarantee charges received by foreign company not considered “interest,” taxable as “other income” (High Court decision)

4 Jun - Qatar: Income tax treaty agreements with Saudi Arabia and UAE signed

3 Jun - Bahrain: Updated VAT guide

May 2024

31 May - New Zealand: Budget 2024

30 May - Australia: House passes legislation clarifying meaning of “exploration for petroleum,” updating transfer pricing guidance

30 May - India: Taxation of foreign branch at higher rate than applicable to domestic company not prevented by non-discrimination article of treaty (High Court decision)

30 May - Saudi Arabia: E-invoicing requirement extended to 12th group of taxpayers from December 1, 2024

24 May - India: Interest paid by permanent establishment to overseas head office not taxable under India-France treaty (tribunal decision)

24 May - Australia: Proposal to prohibit decreases in coal royalty rates without legislative action (Queensland)

23 May - Australia: Draft legislation extending fringe benefit tax exemption for electric vehicles introduced in Senate

23 May - Australia: New ad valorem mineral royalty scheme (Northern Territory)

23 May - Australia: Payroll tax changes (Victoria, South Australia, and Tasmania)

23 May - China: Guidance on employer equity incentives

22 May - Korea: Permanent establishment found based on cost and profit sharing agreement (Tax Tribunal decision)

22 May - UAE: Corporate tax guide on free zone regime

21 May - Australia: Commercial and industrial property tax reform passed by Parliament (Victoria)

21 May - Australia: FY 2023-2024 income tax filing requirements

21 May - Australia: Guide on how to avoid unexpected tax consequences in relation to “Division 7A” loan repayments

21 May - Australia: Proposed exemptions from sharing economy reporting regime

20 May - Bahrain: Updated VAT real estate guide

17 May - Australia: Green hydrogen and critical minerals production tax incentives announced in 2024 federal budget

17 May - Australia: Tax promoter bill passes Parliament

17 May - Cambodia: Guidance on implementation of new e-filing system; tax incentives for education sector

17 May - Cambodia: Guidance related to public lighting tax, VAT, and patent tax

16 May - Thailand: Tax and other incentives for businesses involved in manufacture of printed circuit boards

16 May - Australia: House disagrees with amendments to small business incentive and charities bill

15 May - Australia: 2024 federal budget released

15 May - Australia: No tax measures announced in 2024-2025 budget (Northern Territory)

15 May - Australia: Build-to-rent land tax exemption legislation passes Parliament (Western Australia)

15 May - Australia: Priority guidance on amendments to thin capitalization rules

15 May - Bangladesh: Overview of recent direct and indirect tax developments

14 May - Australia: Senate committee reports on tax promoter, superannuation concessions bills

14 May - Malaysia: Summary of income and indirect tax developments (May 2024)

10 May - India: Cost of bonus shares is zero for purposes of computing capital gains (tribunal decision)

10 May - Australia: Tax-related proposal in 2024-2025 budget (Western Australia)

10 May - Australia: Consultation on draft legislation changing GST treatment of certain motor vehicles supplies

10 May - Australia: Consultation on draft legislation eliminating withholding tax on certain payment to U.S. entertainers

8 May - Australia: Overview of direct and indirect tax measures in 2024-2025 budget (Victoria)

8 May - Saudi Arabia: Guidelines for regional headquarters eligible for tax incentives

8 May - Saudi Arabia: Proposed amendments to real estate transaction tax regulations

7 May - India: Premium received on redemption of debentures is interest income, not capital gains (tribunal decision)

7 May - Hong Kong: Tax authority’s views on various issues relating to profits tax, including FSIE regime

7 May - Philippines: Clarification of local business tax exemptions for registered business enterprises

7 May - UAE: Corporate tax guide on qualifying group relief

6 May - Bahrain: New tourist levy on hotel accommodations

3 May - Mongolia: Amendments to corporate income tax and individual income tax law; other tax-related developments

1 May - Japan: 2024 tax reform passed by Parliament

1 May - New Zealand: Overview of taxation of interests in foreign investment funds

April 2024

30 Apr - Australia: Amendments to superannuation system

30 Apr - Australia: Cryptoasset data-matching program

25 Apr - Korea: Interest deductions could be challenged on arm’s length grounds, but not wholly denied as tax avoidance (Tax Tribunal decision)

25 Apr - Korea: New guidance on improving data collection during customs audits

24 Apr - India: Payment for sharing third-party shrink-wrapped software not a royalty (tribunal decision)

24 Apr - Australia: Payroll tax payable by mortgage aggregator on commissions paid to brokers (Supreme Court of New South Wales decision)

23 Apr - Australia: Guide to manage requirements of “Division 7A” loan

23 Apr - Australia: Legislation requiring disclosure of subsidiaries' tax residence in financial reports enacted

23 Apr - Australia: Update on “Next 5,000” private groups tax performance program

19 Apr - Australia: Discussion paper on thin capitalization rules for foreign bank branches

18 Apr - Australia: Consultation on draft payment times reporting legislation

18 Apr - Australia: Extension of due date for certain tax returns due 15 May to 5 June

18 Apr - Malaysia: Summary of income and indirect tax developments (April 2024)

18 Apr - Saudi Arabia: New Zakat implementing regulation

17 Apr - India: Update on tax treaty with Mauritius

16 Apr - Australia: Changes to trust tax returns and private rulings application forms

15 Apr - India: Discrimination in extending time limit for registration by new charitable institutions held unconstitutional (High Court decision)

12 Apr - Hong Kong: Draft legislation on proposed patent box regime

12 Apr - Australia: Guidance on reduced input tax credit claims

10 Apr - Australia: Consultation on implementation of build-to-rent tax incentives

9 Apr - Australia: Consultation on attribution of risk weighted assets to branches of foreign banks for purposes of thin capitalization rules

9 Apr - Australia: Consultation on proposal to exempt lump sums payments in arrears from medicare levy

9 Apr - Australia: Legislation on interest limitation rules receives Royal Assent

9 Apr - Malaysia: Updated e-invoicing guidelines, software development kit

8 Apr - Hong Kong: Guide to 2023-2024 profits tax filing

4 Apr - Australia: Consultation on amendments to transfer balance credit provisions for superannuation successor fund transfer

4 Apr - Australia: Law requiring public disclosure of tax residency passes Parliament

4 Apr - Australia: New 2024 reportable tax position schedule released

4 Apr - India: Most favoured nation clause under income tax treaty with Spain reduces tax rate on royalties for technical services

2 Apr - Saudi Arabia: E-invoicing requirement extended to 10th group of taxpayers from 1 October 2024

1 Apr - Bahrain: Updated VAT guide

1 Apr - India: Taxpayer not providing intermediary services for service tax purposes (Supreme Court decision)

1 Apr - Malaysia: Proposed changes to capital gains tax, e-invoicing, and revised estimate of tax payable

March 2024

29 Mar - Laos: VAT on cross-border provision of digital services

29 Mar - Malaysia: Additional guidance on service tax

28 Mar - Australia: Bill introduced to clarify “exploration for petroleum” meaning

28 Mar - Australia: Changes to Top 1,000 combined assurance program

28 Mar - Australia: Parliament passes legislation on interest limitation rules and foreign investment fees; Senate passes bill on taxation of general insurers

27 Mar - Sri Lanka: Amendments to Social Security Contribution Levy Act enacted

27 Mar - Sri Lanka: Amendments to VAT law enacted

25 Mar - Australia: Consultation on draft legislation, regulations to streamline administration of fuel, alcohol excise

25 Mar - Australia: Taxpayer entitled to interest deductions with respect to foreign related-party financing for third-party acquisition (Federal Court decision)

22 Mar - Australia: Draft legislation to repeal stamp duty on commercial, industrial property and replace with property tax (Victoria)

22 Mar - Australia: Temporary extension of land tax exemption for homeowners affected by construction delays (Western Australia)

21 Mar - Australia: Consultation on new proposed reporting exemptions for electronic distribution platform operators

19 Mar - Australia: Tax promoter bill passes House; changes to superannuation tax concessions; consultation on petroleum resource rent tax guidance

15 Mar - Australia: Draft legislative instruments on filing requirements for 2024 returns

15 Mar - Australia: General anti-avoidance rule did not apply to taxpayer’s distribution of income (Full Federal Court decision)

15 Mar - India: Service permanent establishment; provision of cloud-based software-driven platform as technical services (court decisions)

15 Mar - New Zealand: Amendments to May 2023 Tax Bill

14 Mar - UAE: New proposed law on taxation of foreign banks (Dubai)

14 Mar - Malaysia: Summary of income and indirect tax developments (March 2024)

12 Mar - Malaysia: Guidance on exemption from service tax for certain logistics services

12 Mar - Australia: Guidance on applying for variations from foreign resident capital gains withholding

12 Mar - New Zealand: Amendments to 39% trust tax rate proposal

11 Mar - Bahrain: Tax treaty and investment protection agreement signed with Hong Kong

7 Mar - Philippines: Proposed legislation regarding VAT on cross-border provision of digital services

6 Mar - Malaysia: Recent guidance on capital gains tax

6 Mar - Australia: Individual income tax and medicare levy bills receive Royal Assent

5 Mar - Australia: Overhead costs apportioned to GST-free supplies entitled to input tax credits (Full Federal Court decision)

5 Mar - India: Deductions for payments to nonresidents upheld; discount by telecom company to distributor not a commission (court decisions)

4 Mar - Bahrain: Extension of record retention period for VAT

4 Mar - Cambodia: Market interest rate for related party loans; incentives for voluntary amendment of tax declarations

1 Mar - Azerbaijan: Designation of strategic investment projects qualifying for tax benefits

1 Mar - Azerbaijan: Electronic accounting required for certain entities

February 2024

29 Feb - Hong Kong: Direct and indirect tax proposals in 2024-2025 budget

29 Feb - Malaysia: Service tax policies and FAQs

28 Feb - India: Guidance on waiver of certain outstanding direct tax liabilities

28 Feb - Saudi Arabia: Tax incentives for regional headquarters

28 Feb - UAE: Timelines for corporate tax registration

28 Feb - Australia: Individual income tax and medicare levy bills pass both Houses of Parliament

27 Feb - Australia: Rental bond data matching program updated

27 Feb - Korea: Software fees paid to Irish affiliate treated as royalties paid to U.S. parent (Tax Tribunal decision)

26 Feb - Malaysia: Expansion of services subject to service tax

22 Feb - Australia: First list of companies receiving failure to comply notices under payment times reporting law

21 Feb - Australia: Additional minerals exploration credits for small companies for 2024-2025

21 Feb - Australia: Ruling on technology-based platform to ascertain fuel use for purposes of fuel tax credit

21 Feb - Australia: “Top hatting” transaction did not qualify for basis step up (Federal Court decision)

20 Feb - India: Computer airline reservation system located in U.S. did not create permanent establishment in India (tribunal decision)

20 Feb - Singapore: Tax measures in budget 2024 include Pillar Two global minimum tax rules

16 Feb - Australia: Individual income tax and medicare levy bills pass House

16 Feb - India: Constitutionality of anti-profiteering provisions under GST upheld (High Court decision)

16 Feb - India: Sales proceeds in escrow account not includable in capital gains (tribunal decision)

16 Feb - Malaysia: Final guide on transitional rules for service tax rate change on foreign digital services

16 Feb - Malaysia: Updated e-invoicing guidelines, software development kit

15 Feb - Vietnam: New telecommunications law

15 Feb - Australia: Guidance on income tax treatment of registered emissions units

14 Feb - Australia: Foreign investment fees bills pass House

13 Feb - Australia: Guidance on LIFO method for securities holding period requirement

13 Feb - Saudi Arabia: Tax treatment of software payments

13 Feb - Philippines: Recent direct and indirect tax developments

12 Feb - Bahrain: Cabinet approves signing of income tax treaty with UAE

12 Feb - Sri Lanka: Clarification of “resident person” for tax purposes

9 Feb - Philippines: Tax on e-commerce transactions

8 Feb - Hong Kong: Comprehensive double taxation agreement with Croatia signed

8 Feb - Malaysia: Draft guides on transitional rules for service tax rate change, logistics services

7 Feb - Malaysia: Summary of income and indirect tax developments (February 2024)

7 Feb - New Zealand: Guidance on proposed 39% trust tax rate

7 Feb - Australia: Individual income tax, medicare levy, and foreign investment fee bills introduced in Parliament

6 Feb - Australia: Consultation on proposed changes to “producer and location tax offset”

6 Feb - Australia: Senate Committee report on interest limitation / thin capitalisation rules bill

6 Feb - Pakistan: Guidance regarding electronic transmission of sales tax invoices

5 Feb - Japan: Outline of 2024 tax reform proposals

5 Feb - Vietnam: New land law effective 2025

2 Feb - India: Tax measures in interim budget 2024

1 Feb - Cambodia: Approved treaty benefits effective for full calendar year

1 Feb - Cambodia: Real estate taxes relief, procedures for online amendment of monthly tax declarations

January 2024

31 Jan - Indonesia: New policy for Article 21 withholding tax

30 Jan - India: Capital loss arising from cancellation of shares is allowable to shareholders even if no consideration is paid (tribunal decision)

30 Jan - Australia: Guide on details of R&D tax transparency reports

29 Jan - Australia: Guide on hybrid mismatch rules; new case studies on offshore tax evasion

26 Jan - Philippines: Reduction in accounts receivable did not result in VAT deficiency (Court of Tax Appeals decision)

26 Jan - Malaysia: Exemptions from new capital gains tax for unit trusts

24 Jan - Malaysia: Transitional rules for proposed increase in service tax rate

24 Jan - Vietnam: Draft legislation on VAT

23 Jan - Hong Kong: Tax deduction for spectrum utilization fees for telecommunication industry

23 Jan - Australia: Updated guide on principal place of residence land tax exemption (New South Wales)

22 Jan - Australia: Practical compliance guideline on intangibles arrangements

22 Jan - Korea: Sales support services subject to zero rate of VAT (Tax Tribunal decision)

22 Jan - Philippines: Year-end tax compliance reminders

18 Jan - Australia: Consultation on amendments to petroleum resource rent tax (PRRT) rules

18 Jan - Australia: Updated draft tax ruling on royalties, software

18 Jan - UAE: Corporate tax guide on tax groups

17 Jan - Thailand: Tax calendar for 2024

16 Jan - India: Reassessment proceedings inapplicable to capital account transaction (High Court decision)

16 Jan - Malaysia: Proposed increase in service tax rate and expansion of taxable services effective 1 March 2024

16 Jan - UAE: Corporate tax guide on taxation of extractive businesses and non-extractive natural resources businesses

12 Jan - Vietnam: Draft decree on establishment, management, and use of investment support fund

11 Jan - Malaysia: Summary of income and indirect tax developments (January 2024)

11 Jan - Philippines: New law includes income tax, business tax, and VAT measures

9 Jan - Cambodia: Tax, accounting, labor, and regulatory compliance reminders for 2023-2024

8 Jan - Sri Lanka: Amendment to Social Security Contribution Levy Bill

5 Jan - India: Guidelines for withholding tax on e-commerce transactions

5 Jan - Saudi Arabia: Guidance on resident natural persons subject to income tax

4 Jan - Vietnam: Reduced VAT through June 2024

4 Jan - Malaysia: Guidance on sales tax exemptions for manufacturing aids and cleanroom equipment

2 Jan - Malaysia: Direct and indirect tax changes in Finance Act (No. 2) 2023

2 Jan - Malaysia: New indirect tax guidance effective 1 January 2024

2023 Articles

December 2023

22 Dec - Cambodia: Effective date of notification letters or other notices from tax authority

22 Dec - Korea: Substance over form principles applied to disregard intermediate third-party suppliers (Administrative Court decision)

21 Dec - Australia: ATO definition of “contractors” vs. “employees”

21 Dec - Australia: Proposal to simplify deductible gift recipient system

21 Dec - Hong Kong: Legislation to clarify non-taxation of onshore equity disposal gains enacted

21 Dec - Hong Kong: Proposed tax deduction for spectrum utilization fees for telecommunication industry

21 Dec - Korea: Taxation of fees under trademark license (Supreme Court decision)

21 Dec - Philippines: Tax audits suspended until 7 January 2024

21 Dec - Singapore: New e-Tax Guide on taxation of gains from sale of foreign assets

20 Dec - Australia: Removal of deductibility of ATO charges in government's 2023-2024 mid-year economic and fiscal outlook statement

20 Dec - Sri Lanka: VAT exemption of certain goods and services

19 Dec - Australia: Additional minimum expenditure threshold for “producer offset” tax rebate

19 Dec - Australia: Taxpayer alerts regarding artificial inflation of R&D tax incentive claims

19 Dec - Azerbaijan: VAT on cross-border provision of digital services

19 Dec - Hong Kong: Draft legislation on aircraft leasing preferential regime

18 Dec - India: Fees received for domain name registration services not taxable as royalty (High Court decision)

18 Dec - Saudi Arabia: Zakat treatment of related-party transactions; thresholds for transfer pricing documentation for Zakat payers

15 Dec - Malaysia: Summary of income and indirect tax developments (December 2023)

14 Dec - Australia: New tax treaty negotiation program with Ukraine and Brazil

14 Dec - Australia: Tax announcements in government's 2023-2024 mid-year economic and fiscal outlook statement

14 Dec - Sri Lanka: VAT bill and Committee Stage amendments passed by Parliament

13 Dec - Australia: Industry consultations on reforming emergency services levy (New South Wales)

12 Dec - Australia: Transition from stamp duty to property tax on commercial, industrial property (Victoria)

12 Dec - Australia: Consultation on new legislation concerning franking credits

12 Dec - Australia: Introduction of new fee structure for foreign property investors

12 Dec - Hong Kong: Upfront lump sum and annual royalties received from UK company taxable in Hong Kong (Court of First Instance decision)

11 Dec - Bahrain: Campaign encouraging VAT registration

11 Dec - Bahrain: Final phase implementing digital stamp scheme for specified tobacco products

11 Dec - Philippines: All e-commerce participants subject to Philippine laws, regardless of physical presence

8 Dec - Australia: Judgment on embedded royalties and application of diverted profits tax (DPT) publicly released (Federal Court decision)

8 Dec - Thailand: Required reporting by digital platform operators

7 Dec - Saudi Arabia: Tax incentives package for regional headquarters program

6 Dec - Australia: Amendments to new interest limitation / thin capitalisation rules bill referred to Senate committee

6 Dec - Australia: Guidance on tax treatment of off-market share buy-backs

6 Dec - India: No obligation to withhold tax on notional income; income from offshore supply of equipment and services not taxable in India

6 Dec - Philippines: Amendments to creditable withholding tax; VAT registration

6 Dec - UAE: Amendments to excise tax executive regulations

5 Dec - Thailand: Further guidance on foreign-sourced income brought into Thailand by Thai tax residents

5 Dec - Australia: Consultation on superannuation retirement phase

4 Dec - Australia: Changes in new taxation laws including vacant residential land tax (Victoria)

4 Dec - Australia: Consultation on 2024-2025 budget

4 Dec - Australia: Consultation on system for determining charities eligible to receive tax-deductible donations

1 Dec - Australia: Proposed bills related to superannuation concessions, ACNC secrecy reforms, payments regulatory framework

1 Dec - Australia: Tax treaty with Portugal signed

1 Dec - Australia: Taxpayer liable for withholding tax on embedded royalties, application of DPT (Federal Court decision)

1 Dec - Hong Kong: Draft legislation on expansion of FSIE regime to asset disposal gains passed by Legislative Council

1 Dec - Pakistan: “Windfall profits tax” on banks

November 2023

30 Nov - KPMG report: Global developments in ESG-related taxes, incentives, and grants (ESG tax tracker)

30 Nov - Pakistan: Overview of ultimate beneficial ownership provisions and reporting framework

30 Nov - Singapore: Updated e-Tax Guide on tax treatment of front-end fees

29 Nov - Philippines: Proposed measures relating to income tax, business tax, and VAT

29 Nov - UAE: Corporate tax guide on taxation of natural persons

29 Nov - Australia: Amendments to new interest limitation / thin capitalisation rules tabled in Senate

28 Nov - Australia: Senate committee recommends passage of small business incentive and charities amendment bill

27 Nov - Bahrain: Updated VAT guide

27 Nov - Philippines: Requirements for refund or credit of input VAT for zero-rated sales and services (Court of Tax Appeals decision)

27 Nov - Saudi Arabia: Ninth wave of e-invoicing applicability

21 Nov - Australia: Legislation concerning off-market share buy-backs and franking credits passes Parliament

21 Nov - Australia: Legislation proposing tax enforcement enhancements

21 Nov - Japan: Overview of tax system (2023)

21 Nov - Korea: Beneficial owner of royalties determined by examination of facts and circumstances (Tax Tribunal decision)

20 Nov - Oman: Powers to allow tax exemptions granted to Minister of Finance

17 Nov - UAE: Corporate tax guide on taxation of foreign source income

16 Nov - Australia: Legislation concerning off-market share buy-backs and franking credits passes Senate

16 Nov - Hong Kong: Reduced stamp duty rate on stock transfers effective 17 November 2023

16 Nov - Sri Lanka: Cabinet approval to increase VAT rate to 18%, effective 1 January 2024

14 Nov - Sri Lanka: Tax proposals in 2024 budget

14 Nov - Malaysia: Summary of income and indirect tax developments (November 2023)

14 Nov - Australia: Changes in not-for-profits reporting requirements

14 Nov - Australia: Public consultation paper on carbon leakage risks

13 Nov - Australia: ATO guidance on Commissioner’s discretion on “control” of a connected entity

13 Nov - Australia: Changes to duties transactions (New South Wales)

9 Nov - Malaysia: Proposed direct and indirect tax changes in Finance Bill (No. 2) 2023

9 Nov - Australia: New income tax treaty with Iceland now in force

9 Nov - Australia: Updated practice statement on collection and recovery of disputed tax debts

8 Nov - Australia: Consultation on draft law companion ruling on corporate collective investment vehicle regime

8 Nov - UAE: Guide on interaction of accounting standard with corporate tax

7 Nov - Hong Kong: Interest income of property developer not eligible for profits tax exemption for bank interest income

6 Nov - Malaysia: Sales tax on low value goods effective 1 January 2024

6 Nov - UAE: Updated guidance on application of corporate tax exemption for free zones

2 Nov - Cambodia: Tax calculation for locally produced non-alcoholic beverages

2 Nov - India: “Angel tax” provisions; reassessment based on new information; recommendations of GST Council meeting

2 Nov - Oman: Amendments to VAT executive regulations, focus on refunds

October 2023

31 Oct - Australia: KPMG comments on consultation on proposed amendments to new interest limitation / thin capitalisation rules

31 Oct - Australia: Guidance on research and development tax incentive integrity rules

31 Oct - Australia: Proposed amendments to superannuation transfer balance cap

27 Oct - Hong Kong: Stamp duty, patent box, other tax-related proposals in 2023 Policy Address

26 Oct - Hong Kong: Draft legislation to clarify non-taxation of onshore gains from disposal of equity interests; related guidance

26 Oct - Australia: Introduction of stamp duty exemption, windfall gains tax changes for dual occupancy homes (Australian Capital Territory)

26 Oct - Saudi Arabia: Draft tax laws for public consultation (income tax, Zakat and tax procedural)

25 Oct - India: Notification required for taxpayer to claim benefit under income tax treaty most favored nations clause (Supreme Court decision)

25 Oct - Israel: New deadline for first wave of e-invoicing mandate

23 Oct - Cambodia: Rates of “public lighting” and advertisement taxes

20 Oct - Australia: Small business incentive and charities amendment bill referred to senate committee

19 Oct - Australia: Charge for use of zero or low emissions vehicle on “specified roads” deemed invalid (Victoria)

19 Oct - Australia: Temporary extension of two-year land tax exemptions for home construction, refurbishment (Western Australia)

18 Oct - Australia: Consultation on proposed amendments to new interest limitation / thin capitalisation rules

16 Oct - Hong Kong: Draft legislation on expansion of FSIE regime to asset disposal gains; updated guidance on FSIE regime

13 Oct - Australia: Draft determination on application of GST to combination food products

13 Oct - Malaysia: Tax proposals in 2024 budget

12 Oct - Singapore: GST Comptroller decision denying input tax claim upheld

10 Oct - Australia: Consultation on payday superannuation implementation

6 Oct - Australia: Details of proposed tax amendments, including vacant residential land tax changes (Victoria)

5 Oct - India: Final changes to valuation rules under “Angel Tax”

5 Oct - India: Taxpayer eligible for tax sparing credit under Oman treaty (Supreme Court decision)

5 Oct - UAE: Corporate tax general guide

4 Oct - Malaysia: Updated e-invoicing guidelines

4 Oct - Australia: Guidance on depreciation of composite items

4 Oct - Australia: Proposed state-wide extension of vacant residential land tax (Victoria)

3 Oct - Australia: Consultation on changes relating to superannuation tax concessions

3 Oct - Saudi Arabia: Public consultation on proposed amendments to income tax law

September 2023

28 Sep - Armenia: Instrument of ratification of MLI deposited with OECD

28 Sep - Japan: 2023 tax reform amendments to electronic preservation system for account books

27 Sep - India: Buyback of shares subject to dividend distribution tax (tribunal decision)

26 Sep - Australia: Guidance on correcting GST and fuel tax errors for prior tax periods

25 Sep - Australia: Senate Committee report on new interest limitation and subsidiary information disclosure rules

25 Sep - Korea: Fee paid to foreign parent company was royalty subject to withholding tax (Tax Tribunal decision)

25 Sep - Korea: Products provided free of charge under purchase agreement were not “free of charge imports” (Supreme Court decision)

25 Sep - Saudi Arabia: Additions and amendments to rules for calculating Zakat on financing activities

22 Sep - Pakistan: Summary of federal and provincial sales tax withholding requirements

21 Sep - Australia: Consultation on single rate for excise refunds on return petroleum from vapor recovery units

21 Sep - Australia: Draft legislation to improve tax system

21 Sep - Bahrain: New VAT deregistration manual

20 Sep - Australia: Stamp duty and land tax changes in 2023-2024 budget (New South Wales)

20 Sep - India: Reassessment notice issued without approval was time barred (High Court decision)

20 Sep - India: Taxpayer entitled to refund of taxes paid on behalf of nonresident (High Court decision)

20 Sep - Saudi Arabia: Public consultation on draft regulation for Zakat collection

20 Sep - Thailand: New interpretation of foreign-sourced income brought into Thailand by Thai tax residents

20 Sep - Thailand: Reduced 7% VAT rate extended to 30 September 2024

19 Sep - Philippines: Amended VAT-related guidance for certain registered business enterprises

19 Sep - UAE: New VAT reverse charge mechanism on local supplies of electronic devices

18 Sep - Saudi Arabia: Amendments to income tax and Zakat regulations

18 Sep - Australia: Updated regulations for shipping exempt income certificate requirements

15 Sep - Australia: New communications protocol for ATO objections

14 Sep - Australia: Tax refunds will no longer be deposited into non-authorised deposit-taking institutions

14 Sep - Sri Lanka: Amendments to social security contribution levy enacted

14 Sep - Sri Lanka: Deferral of proposed VAT amendments

14 Sep - Sri Lanka: Inland Revenue (Amendment) Bill 2023 enacted

13 Sep - Hong Kong: Consultation on proposed patent box regime

13 Sep - Australia: Draft legislation to reduce income tax compliance on general insurance industry

12 Sep - Australia: Eligible expenditure for small business technology investment boost; STP Phase 2 salary reporting changes

11 Sep - Cambodia: Procedures for requesting input VAT credits and VAT refunds

11 Sep - India: Singaporean company entitled to treaty benefits on capital gains from transfers of shares of Indian companies (tribunal decision)

8 Sep - Australia: Guide on direct and indirect tax changes in new revenue amendment Act (New South Wales)

8 Sep - Australia: Modified list of vessels eligible for tax incentives

7 Sep - Malaysia: Summary of income and indirect tax developments (September 2023)

7 Sep - Philippines: Imposition of local taxes, fees, and charges by local government units on transitioning registered business enterprises

6 Sep - Australia: Review of feasibility of carbon border adjustment mechanism

6 Sep - Indonesia: Updated guidance on tax depreciation and amortization

5 Sep - Bahrain: Updated excise tax guide

5 Sep - Sri Lanka: Proposed VAT amendments

August 2023

31 Aug - New Zealand: Bill to implement digital services tax

29 Aug - Australia: Introduction of temporary payroll tax exemption on general practices (Australian Capital Territory)

25 Aug - Australia: 12-month pause for general practitioners payroll tax audits (New South Wales)

24 Aug - Hong Kong: New income tax treaty with Mauritius entered into force

24 Aug - Philippines: Direct and indirect tax incentives for natural gas projects

23 Aug - Cambodia: Specific tax rates on locally produced non-alcoholic beverages

23 Aug - India: Legislation introducing changes to GST on gaming

23 Aug - Australia: ATO requesting information on corporate tax transparency data for large companies

22 Aug - Australia: Consultation on petroleum resource rent tax deductions cap; home battery tax relief estimate

22 Aug - India: Guidance on taxation of life insurance policy proceeds

22 Aug - Saudi Arabia: Eighth wave of e-invoicing applicability

18 Aug - UAE: Conditions for qualifying investment funds to be exempt from corporate tax

17 Aug - Bahrain: Economic substance filing window open from 13 August to 13 September 2023

16 Aug - Australia: Review of potential carbon border adjustment mechanism

16 Aug - Philippines: VAT refund guidelines

15 Aug - Singapore: Taxing gains on sale or disposal of foreign assets

11 Aug - Malaysia: Summary of income and indirect tax developments (August 2023)

10 Aug - Cambodia: Implementation of VAT on imported cigarettes

10 Aug - Korea: Tax reform proposal for 2023, implications for foreign invested companies

9 Aug - Philippines: Scanned copies of expenses do not satisfy tax deductibility requirements

8 Aug - Australia: New self-assessment requirement for non-charitable not-for-profit entities

7 Aug - Australia: Review of regulatory frameworks for tax services and large consulting, accounting, and auditing firms

7 Aug - Australia: Various proposed state tax reforms (New South Wales)

7 Aug - India: Payments for cloud computing services not taxable royalties or fees for technical services under U.S. tax treaty (tribunal decision)

7 Aug - India: Reassessment notice based on contradictory advance ruling for another taxpayer was invalid (High Court decision)

7 Aug - Singapore: Guidance on proposed philanthropy tax incentive scheme for single family offices

4 Aug - Hong Kong: Latest proposals on tax certainty scheme for onshore equity disposal gains and expanded foreign-sourced income exemption regime

4 Aug - UAE: Implementation of new tax procedures executive regulation

4 Aug - Australia: Amendment to improve annual performance test for superannuation industry

3 Aug - Australia: Superannuation tax updates report 2023

3 Aug - Sri Lanka: Extended due date for filing quarterly advance income tax statements

2 Aug - India: Changes to GST online information database access and retrieval (OIDAR) rules

1 Aug - Australia: ATO Corporate Plan focuses on collectible debts

1 Aug - Cambodia: New guidance on tax incentives for investment projects

July 2023

31 Jul - Saudi Arabia: Seventh wave of e-invoicing applicability

28 Jul - Vietnam: Expediting VAT refunds

27 Jul - Bahrain: VAT return filing and payment deadline extended to 1 August 2023

26 Jul - Saudi Arabia: Penalty waiver for taxes, including VAT and excise tax, extended through December 2023

21 Jul - Australia: Determination on GST, wine tax, luxury car tax for defence-related international obligations

21 Jul - Malaysia: Guideline for implementation of e-invoicing

21 Jul - Sri Lanka: Inland Revenue (Amendment) Bill 2023 issued

20 Jul - Singapore: Profits method used to value property for property tax purposes

19 Jul - Australia: Draft instrument on correcting fuel tax errors

18 Jul - Australia: Guidance on claiming research and development tax incentives

17 Jul - Bahrain: Introduction of corporate income tax confirmed

14 Jul - Malaysia: Summary of income and indirect tax developments (July 2023)

13 Jul - India: Payments on account of seconded employees not taxable as "fees for technical services" (tribunal decision)

13 Jul - Saudi Arabia: Guidelines on tax rulings

13 Jul - Vietnam: Proposed repeal of “on-the-spot” export and import customs procedures

12 Jul - Philippines: Recent direct and indirect tax developments

11 Jul - Singapore: Updated e-Tax Guide on total asset method for interest adjustment

11 Jul - Australia: Consultation on draft bill aligning tax treatment of general insurers with AASB17

10 Jul - Australia: Taxpayer’s “food” product subject to GST (Administrative Appeals Tribunal decision)

10 Jul - Australia: Procedural rules for digital games tax offset; regulations to enable compensation scheme of last resort; regulations for new registrable superannuation entity reporting requirements 

10 Jul - Oman: Income tax treaty with Egypt signed

7 Jul - Philippines: Availability of certain forms; venue for registering tax-free exchanges of properties

7 Jul - Philippines: Running of prescriptive period for VAT, applicability of VAT to interest income from affiliated loans (Supreme Court decision)

7 Jul - Sri Lanka: Proposed amendments to social security contribution levy

6 Jul - India: Guidance on withholding tax on purchases of overseas tour packages and foreign remittances

6 Jul - Australia: Guidance on GST treatment of digital currency transactions

6 Jul - Australia: Research and development tax incentives claim denied (Federal Court decision)

5 Jul - Australia: Consultation on proposed small business energy incentive

5 Jul - Australia: Guidance on claiming digital games tax offset

5 Jul - Australia: Legislation proposing changes to interest limitation rules introduced in Parliament

5 Jul - Australia: Tax changes effective 1 July 2023 (New South Wales)

5 Jul - Australia: Updated guidance on residency central management and control test, including new risk-free assessment framework

5 Jul - India: Capital gain exempt under Singapore treaty (High Court decision)

5 Jul - Vietnam: Draft decree on VAT reduction policy

June 2023

30 Jun - Mongolia: Proposed amendments to corporate income tax on thermal and electric power production; other developments

30 Jun - India: Tax residency certificate for claiming tax treaty benefits; tax withheld at source under liberalised remittance scheme and overseas tour program package

29 Jun - India: Amendments to new default tax regime

29 Jun - Pakistan: Direct and indirect tax measures enacted in Finance Bill 2023

29 Jun - Philippines: Distributions on depository receipts taxed as interest, not dividends

29 Jun - Australia: Property tax proposals in 2023-2024 budget (Australian Capital Territory)

28 Jun - Australia: Direct and indirect tax measures introduced in 2023-2024 budget (Victoria)

28 Jun - Australia: Draft guidance on interaction of non-arm’s length income and capital gains, control and residency tests

27 Jun - Australia: Overhead costs apportioned to GST-free supplies entitled to input tax credits (Federal Court decision)

26 Jun - Australia: New semiannual reporting periods for electronic distribution platform operators

22 Jun - Australia: Proposed legislation on new thin capitalisation rules; other tax-related legislation

22 Jun - Australia: Tax authority relies on anti-avoidance rather than transfer pricing arguments in foreign related-party financing dispute (Federal Court decision)

22 Jun - Bahrain: Updated VAT guides concerning treatment of supply of investment-grade gold

22 Jun - Sri Lanka: Review of recent tax developments

21 Jun - Saudi Arabia: Criteria for sixth group of taxpayers to comply with second phase of e-invoicing implementation

20 Jun - Hong Kong: Advance rulings under foreign-sourced income exemption regime

20 Jun - Australia: Consultation on non-arm’s length income provisions amendments

16 Jun - Australia: Indirect tax measures in 2023 budget (South Australia)

15 Jun - Australia: Overview on key FY 2022-2023 changes for tax professionals

15 Jun - Australia: Requirements of recipient created tax invoice for GST purposes

15 Jun - Bahrain: Mandatory digital stamps for waterpipe tobacco “molasses” products; 2023-2024 budget approved

15 Jun - Cambodia: Exemption from immovable property tax in certain locations

14 Jun - Australia: Tax measures in 2023-2024 budget (Queensland)

14 Jun - Malaysia: Summary of income and indirect tax developments (June 2023)

14 Jun - Singapore: High Court dismisses appeal, holds that cement silo is not a “plant” for capital allowance purposes

13 Jun - Saudi Arabia: Proposed amendments to tax and Zakat regulations for public consultation purposes

12 Jun - Hong Kong: Changes to issuance of certificate of residence status and application forms

12 Jun - Hong Kong: Update on profits tax, BEPS 2.0, and e-filing

12 Jun - Pakistan: Tax proposals in Finance Bill 2023

9 Jun - Australia: Final ruling regarding deductibility of labor costs relating to capital assets

9 Jun - Cambodia: New law on taxation

8 Jun - India: Changes to “angel tax” provisions, exemption for leave payments increased, taxation of online games winnings

6 Jun - Malaysia: FAQs on re-implementation of voluntary disclosure programs

6 Jun - Qatar: New permanent establishment and economic substance regulations

2 Jun - Israel: Tax authority’s claim of deemed taxable transfer of functions, assets, and risks upheld (court decision)

1 Jun - Australia: Bill replacing special infrastructure contribution system passes lower house (New South Wales)

1 Jun - Malaysia: Income and indirect tax provisions in Finance Act 2023

May 2023

31 May - Saudi Arabia: Fifth wave of e-invoicing applicability

30 May - Philippines: Guidance on income tax exemption of foreign-sourced dividends received by domestic corporation

30 May - Philippines: Optional filing and payment of monthly VAT returns for VAT-registered persons

30 May - Saudi Arabia: Treatment of service permanent establishments in context of income tax treaties

30 May - Australia: Consultation on proposed 2023-2024 supervisory levies for financial institutions

26 May - Australia: Housing and vehicle related tax measures in 2023-2024 budget (Tasmania)

26 May - Singapore: Application of GST in “direct selling” business model (High Court decision)

25 May - Hong Kong: Voluntary e-filing of profits tax returns

24 May - Australia: Overview of direct and indirect tax measures in 2023-2024 budget (Victoria)

23 May - India: Proposed change to valuation rules under “Angel Tax”

23 May - India: Sales tax on warranty replacements; GST on rummy; taxation of receipt of shares for inadequate consideration (court decisions)

23 May - Korea: Software installation fee is royalty subject to withholding tax under income tax treaty (Tax Tribunal decision)

22 May - New Zealand: May 2023 Tax Bill includes Pillar Two global minimum tax rules

19 May - Australia: Updated draft practical compliance guideline on intangibles arrangements

18 May - Hong Kong: Family office tax regime bill passed

18 May - New Zealand: Budget 2023

18 May - Singapore: Determining the true nature of payments in a transaction

17 May - Bahrain: Electronic system for digital stamps orders

17 May - Australia: Proposed changes to petroleum resource rent tax regime

12 May - Australia: Tax-related proposals in 2023-2024 budget (Western Australia)

12 May - Hong Kong: Public consultation on proposed company re-domiciliation regime

12 May - Malaysia: Summary of income and indirect tax developments (May 2023)

10 May - Philippines: Guidance on application of VAT to registered export enterprise

10 May - Australia: Repeal of stamp tax on non-land assets announced in 2023-2024 budget (Northern Territory)

9 May - Australia: 2023 federal budget released

9 May - India: Long-term capital gains on sale of unlisted shares; attribution of profit; place of supply of intermediary services (court decisions)

8 May - Bahrain: Non-resident businesses operating without VAT registration; VAT treatment for syndicated loans

4 May - Hong Kong: Tax changes in draft legislation implementing risk-based capital regime for insurers

4 May - Philippines: Online submission of annual tax incentives and benefits reports

3 May - Australia: KPMG comments on draft legislation denying deductions for low-taxed related-party intangibles payments

3 May - Bahrain: Potential introduction of corporate income tax on large multinational enterprises

2 May - Cambodia: Clarification of rules regarding when withholding tax is due

2 May - Saudi Arabia: Fourth wave of e-invoicing applicability

2 May - Saudi Arabia: Proposed direct and indirect tax and customs incentives for new “special economic zones”

1 May - India: Concessional withholding tax rate for foreign portfolio investors not extended under Finance Bill 2023

April 2023

28 Apr - Japan: 2023 tax reform proposals enacted

27 Apr - Japan: Proposed reduction in effective tax rate exemption threshold under CFC regime

26 Apr - Philippines: Clarification of guidelines for registered business enterprises in IT sector

26 Apr - Philippines: Guidance for cooperatives

26 Apr - India: New direct and indirect tax dispute settlement scheme (West Bengal)

26 Apr - India: Rate of dividend distribution tax may not be reduced under applicable treaty (tribunal decision)

24 Apr - India: Amnesty program for non-compliance of export obligations

24 Apr - Korea: Customs penalty upheld even though taxpayer voluntarily amended customs value (Tax Tribunal decision)

24 Apr - Thailand: Extension of tax incentives to encourage personnel development, foreign investments

24 Apr - Thailand: Guidance on VAT exemption granted to promote data center businesses

21 Apr - Thailand: Requirements for e-tax invoice

20 Apr - India: Withdrawal of GST exemption for passenger transportation services booked through electronic platform upheld (high court decision)

20 Apr - Kazakhstan: Amendments to rules for excess VAT refund

14 Apr - Hong Kong: Developments related to taxation of family offices

14 Apr - Indonesia: Tax-related incentives for activities in new capital city

14 Apr - Singapore: New enterprise innovation scheme under 2023 budget

13 Apr - Hong Kong: Consultation document on proposed changes to foreign-sourced income exemption regime

13 Apr - Malaysia: Summary of income and indirect tax developments (April 2023)

13 Apr - Philippines: Online registration and update system introduced

12 Apr - New Zealand: 2023 Tax Act receives Royal Assent; quarterly review of other tax developments

10 Apr - UAE: Small business tax relief

7 Apr - Saudi Arabia: Third wave of e-invoicing applicability

6 Apr - KPMG report: Global developments in ESG-related taxes, incentives, and grants (ESG tax tracker)

5 Apr - India: Fees for technical services and royalties under treaties; grounds for denying refund (court decisions)

4 Apr - Hong Kong: Guide to 2022-2023 profits tax filing

4 Apr - Philippines: Guidance on return processing system assessment notices

3 Apr - Australia: Draft legislation denying large multinationals deductions for low-taxed related-party intangibles payments

3 Apr - Bahrain: Penalties applied to unregistered businesses charging VAT on supplies

3 Apr - Bahrain: Reporting sales and corresponding adjustments at 5% in VAT return form re-enabled

March 2023

29 Mar - Philippines: Transfer of registration by existing registered business enterprises

29 Mar - Vietnam: MAAC signed, intention to implement Pillar Two global minimum tax

28 Mar - Hong Kong: Proposal to clarify non-taxation of onshore gains from disposal of equity interests

28 Mar - Thailand: Proposed income tax and VAT exemption on offering or trading of investment tokens

27 Mar - Saudi Arabia: Amendments to excise rules

24 Mar - UAE: Updated VAT guide on input tax apportionment

23 Mar - Israel: Proposed VAT on digital services and goods

23 Mar - Qatar: One-month extension of income tax return filing and payment deadline

22 Mar - Bahrain: Mandatory digital stamps for waterpipe tobacco products

22 Mar - Philippines: Clarification of effects of publishing list of taxpayers who cannot be located

21 Mar - Qatar: Income tax treaty signed with Egypt

21 Mar - Australia: Draft legislation requiring disclosure of subsidiaries' tax residence in financial reports

20 Mar - Australia: Changes to interest limitation rules

20 Mar - India: Proof required for claiming input VAT credit (Supreme Court decision)

17 Mar - Indonesia: New customs and VAT obligations on imported software products, other digital goods

14 Mar - New Zealand: Tax relief measures, fringe benefit tax exemption for e-bikes added to 2022 Tax Bill

14 Mar - Thailand: Extension of tax measures to support e-tax systems

13 Mar - India: Salaries of seconded employees; extension of time for reassessment notices; tax residency certificates (court decisions)

13 Mar - Malaysia: Summary of income and indirect tax developments (March 2023)

13 Mar - Saudi Arabia: Public consultation on draft amendments to Zakat implementing regulations

8 Mar - Vietnam: Directives on tax inspections and tax audits for 2023

7 Mar - Indonesia: Guidance on categories of non-VAT-able goods and services

7 Mar - New Zealand: Update on bill including GST measures and dual-resident company tax changes

6 Mar - Hong Kong: Instrument of ratification of MLI deposited with OECD

2 Mar - UAE: Amendment to VAT executive regulations concerning e-commerce supplies

1 Mar - Bahrain: Expansion of digital stamp scheme to additional tobacco products

February 2023

28 Feb - KPMG report: Domestic tax rules governing family business transfers

28 Feb - Saudi Arabia: Update on VAT refunds to non-residents

27 Feb - Malaysia: Indirect and income tax proposals in “re-tabled” 2023 budget

24 Feb - China: Clarifications on procedures relating to 2022 annual comprehensive income tax reconciliation

24 Feb - Singapore: Updates on GST claims for motor cars, related expenses

23 Feb - Indonesia: Additional implementing regulations of VAT law

23 Feb - Philippines: Letter of authority required to vest authority in new revenue officer (Supreme Court resolution)

22 Feb - Hong Kong: Tax measures in 2023-2024 budget include “patent box,” global minimum tax starting in 2025

21 Feb - Pakistan: Income tax measures, increases in sales and excise tax rates in “mini budget”

20 Feb - Cambodia: Amendment on implementation of VAT on e-commerce

20 Feb - India: GST Council makes recommendations regarding amnesty schemes and GST rate changes

20 Feb - Korea: Customs and VAT valuation of “free samples” provided under supply contract (Supreme Court decision)

17 Feb - Hong Kong: Planned amendments to foreign-sourced income exemption regime

17 Feb - Qatar: VAT regime now expected in 2023

16 Feb - India: Centralized processing of equalization levy statement scheme 2023

16 Feb - India: Vouchers not subject to GST; “risky exporter” entitled to GST refund; dismissal held improper (court decisions)

16 Feb - Philippines: Draft legislation to impose VAT on digital services

16 Feb - Sri Lanka: Guidance on withholding tax, advance income tax; employment benefit valuation; non-cash benefit

15 Feb - Singapore: Tax measures in budget 2023

15 Feb - Bahrain: Digital stamp mobile app for authentic tobacco products

14 Feb - Malaysia: Summary of income and indirect tax developments (February 2023)

9 Feb - India: Tax residency certificate sufficient evidence of residency under India-Singapore income tax treaty (high court decision)

9 Feb - Japan: Outline of 2023 tax reform proposals

6 Feb - Qatar: Amendment of certain provisions of Income Tax Law for 2018

2 Feb - India: Tax measures in budget 2023-2024, including GST-related measures

January 2023

30 Jan - Australia: Revised excise tax rates and tax credit rates for fuel from 1 February 2023

25 Jan - Cambodia: E-documents facility no longer available for monthly and annual tax on income declarations

24 Jan - Philippines: Guidance concerning submission of inventory list and application of VAT to HMO plans of registered export enterprises

20 Jan - Korea: Preferential tariff rates under free trade agreements with United States and China (tax tribunal decisions)

20 Jan - Korea: Royalties subject to withholding under Korea-U.S. treaty (tax tribunal decision)

19 Jan - China: Preferential individual income tax policies extended

18 Jan - China: Draft VAT law

18 Jan - India: Exemption rule for educational institutions applies prospectively; beneficial owner of fees for technical services (court decisions)

17 Jan - India: Liaison office did not constitute PE; amalgamation plan rejected (court decisions)

17 Jan - Malaysia: Summary of income and indirect tax developments (January 2023)

17 Jan - Philippines: Monthly VAT declaration no longer required

17 Jan - Thailand: New categories relating to high precision machinery eligible for corporate income tax exemption

13 Jan - Cambodia: Taxable salary thresholds; extension of certain tax benefit for textile and garment sector

12 Jan - Cambodia: Implementation of advanced tax on dividend distribution

12 Jan - Malaysia: Draft service tax guide on goods delivery services

12 Jan - Saudi Arabia: VAT treatment of some financial services

11 Jan - Saudi Arabia: VAT treatment of real estate loan portfolio insurance

11 Jan - India: Withholding not required on estimated payments; application of beneficial treaty rate upheld (High Court decisions)

10 Jan - Malaysia: Legislation and online portal for sales tax on “low value goods”

10 Jan - Mongolia: Changes in tax legislation for 2023

10 Jan - Singapore: Cement silo is not a “plant” for capital allowance purposes (court decision)

9 Jan - Korea: Tax reform for 2023

5 Jan - Bahrain: Implications of potential introduction of corporate tax

5 Jan - Cambodia: Annual tax, corporate and accounting compliance obligations for 2022 and 2023

5 Jan - Oman: Budget for 2023

3 Jan - Azerbaijan: Recent direct and indirect tax-related changes in legislation

3 Jan - Saudi Arabia: Second wave of e-invoicing applicability

3 Jan - Saudi Arabia: Zakat rules for investments in investment funds

3 Jan - Sri Lanka: Guidance on tax clearance for foreign outward remittances, deduction of withholding tax, advance income tax

2022 Articles

December 2022

30 Dec - UAE: Corporate tax law effects on VAT compliance

28 Dec - Malaysia: Draft guide on sales tax on “low value goods”

23 Dec - Thailand: Proposed specific business tax on income from securities trading via stock markets

22 Dec - Thailand: Tax calendar for 2023

21 Dec - India: Indirect tax updates (December 2022)

21 Dec - Sri Lanka: Amendments to VAT provisions

21 Dec - Sri Lanka: Effective dates of income tax and VAT amendments

21 Dec - Sri Lanka: Income tax changes in (Amendment) Bill 2022

20 Dec - Hong Kong: Draft legislation on foreign-sourced income exemption regime passed

20 Dec - Hong Kong: Upfront lump-sum spectrum license fees must be capitalized (court decision)

20 Dec - New Zealand: Review of tax developments in 2022

20 Dec - Philippines: Temporary suspension of field audits and operations

20 Dec - UAE: Corporate tax provisions relating to oil and gas sector

19 Dec - India: GST Council recommends GST rate changes and other measures

15 Dec - Malaysia: Postponed implementation of sales tax on “low value goods”; sales tax exemption on pallets

15 Dec - Saudi Arabia: Penalty waiver for all taxes, including VAT and excise tax extended until May 2023 (COVID-19)

15 Dec - Singapore: New e-Tax Guides on taxation of insurers arising from adoption of FRS 117

15 Dec - Korea: Liquidated damages for non-fulfillment of minimum purchase quantity included in price of imported goods

13 Dec - India: Set-off of loss against foreign dividend income; revaluation of partnership assets taxable; fixed and agency permanent establishment

12 Dec - Bangladesh: Overview of tax measures, including VAT and other changes made in 2022

12 Dec - UAE: Implementation of new federal corporate income tax system, related transfer pricing rules

12 Dec - Hong Kong: Draft legislation implementing family office tax exemption regime

9 Dec - Hong Kong: Proposed stamp duty exemption for certain transactions relating to dual-counter stock

8 Dec - Qatar: Ratification of income tax treaty with Oman

7 Dec - Azerbaijan: Recent trade and customs related developments

6 Dec - Philippines: Guidance regarding payment of penalties for violations of permitted scope of work-from-home arrangements for certain registered business enterprises

6 Dec - Saudi Arabia: Amendments to rules for applying a zero VAT rate to some categories of supply

6 Dec - Vietnam: Guidance for e-commerce trading platform owners and overseas suppliers

5 Dec - Vietnam: Tax obligations for enterprises creating and using science and technology development fund

1 Dec - Vietnam: Tax administration rules for e-commerce business activities of family businesses and individuals

1 Dec - Hong Kong: Developments with respect to foreign-sourced income exemption regime

November 2022

30 Nov - India: Indirect tax updates (November 2022)

29 Nov - India: Capital gain not taxable under old India-Mauritius treaty (tribunal decision)

29 Nov - Japan: Overview of tax system (2022)

29 Nov - Philippines: Clarifications on taxation of equity-based compensation

28 Nov - Hong Kong: New income tax treaty with Mauritius

28 Nov - Singapore: New overseas vendor GST registration regime, impending GST rate increases

28 Nov - Thailand: VAT exemption granted to promote data center businesses

22 Nov - Qatar: Refund of excise tax paid to goods

22 Nov - Qatar: Tax exemptions and customs procedures related to FIFA World Cup 2022

21 Nov - China: Tax deferral policies for private pensions

18 Nov - Sri Lanka: Tax proposals in 2023 budget

18 Nov - UAE: Amended VAT executive regulations include new e-commerce requirements

17 Nov - India: Capitation fees received by educational institution not eligible for exemption available to a charitable trust (court decision)

16 Nov - Bahrain: Updated list of medicines subject to zero rate of VAT; industry focus groups on e-invoicing

16 Nov - UAE: Amended tax procedures provisions

15 Nov - Cambodia: Exchange rates for VAT-registered taxpayers

15 Nov - Korea: Free trade agreement with Israel, entry into force 1 December 2022

15 Nov - Malaysia: Summary of income and indirect tax developments (November 2022)

11 Nov - Hong Kong: Proposed amendments to draft legislation on foreign-sourced income exemption regime, administrative guidance

11 Nov - UAE: New proposed tax residency test for natural and legal persons

10 Nov - India: “General public utility” tax-exempt charitable institutions cannot undertake any unrelated trade or business

8 Nov - Kuwait: Overview of tax policies

8 Nov - Philippines: Guidance on electronic filing email notification

4 Nov - Vietnam: Guidance on various tax-related rules, including e-commerce information reporting

2 Nov - Bahrain: Updated list of goods subject to excise tax

2 Nov - New Zealand: New rules for GST invoicing effective 1 April 2023

2 Nov - Saudi Arabia: Application of Zakat regulations

1 Nov - Hong Kong: Procedure for complying with economic substance requirements under foreign-sourced income exemption regime

October 2022

31 Oct - Singapore: Updates to e-tax guide on R&D tax measures and claim form

31 Oct - UAE: Amended VAT law provisions; new article related to statute of limitations

28 Oct - Hong Kong: Draft legislation on foreign-sourced income exemption regime

27 Oct - Malaysia: Guidelines on tax treatment of income received from abroad

26 Oct - Qatar: Guidance on submission of no-objection certificate

25 Oct - Australia: 2022-2023 federal budget released

25 Oct - Sri Lanka: Income tax changes proposed in (Amendment) Bill 2022

25 Oct - Sri Lanka: Registration for social security contribution levy

24 Oct - Saudi Arabia: Proposed application of zero VAT rate to “export” of services

21 Oct - Australia: Proposed tax on vacant residential property (Queensland)

21 Oct - India: Doctrine of promissory estoppel cannot be invoked against legislative action (Supreme Court decision)

21 Oct - India: Equalization levy could not be imposed on online advertising charges (tribunal decision)

19 Oct - India: GST common portal opening extended to file or revise Forms TRAN-1 and TRAN-2 (Supreme Court decision)

19 Oct - India: Six-month extension of Foreign Trade Policy 2015-2020; other trade and customs-related developments

19 Oct - Oman: Amendments to VAT executive regulations

18 Oct - Bahrain: Preparing for VAT field audits

18 Oct - Korea: Criteria for determining beneficial owner under Austria treaty (tax tribunal decision)

18 Oct - Korea: Transfer pricing adjustments added to customs value of imported goods when directly related (Supreme Court decision)

17 Oct - Hong Kong: Taxpayers entitled to refund of excessive tax reserve certificates purchased plus interest (court decision)

14 Oct - Australia: New income tax treaty with Iceland signed, incorporating BEPS recommendations

12 Oct - Bahrain: Economic substance returns due 11 November 2022

12 Oct - Bahrain: Updated VAT registration guideline; new decision for digital stamp scheme

11 Oct - Hong Kong: Proposed incorporation of MLI into domestic law

10 Oct - India: Appellant can pay 10% of disputed tax using either electronic cash or credit ledger (high court decision)

7 Oct - Malaysia: Tax proposals in budget for 2023, including domestic minimum top-up tax

7 Oct - Singapore: Changes to exemption on mandatory overseas pension/provident fund contributions

6 Oct - Philippines: Work-from-home arrangement extended for certain registered business enterprises

5 Oct - Australia: ATO guide on tax reporting of cryptoassets

5 Oct - Cambodia: New annual taxable income, monthly taxable salary thresholds for individuals

September 2022

28 Sep - Bahrain: Access to taxpayer "relationship manager" details

27 Sep - Hong Kong: Procedure for confirming economic substance under revised exemption regime

27 Sep - Philippines: Electronic filing, filing of returns, payment of taxes extended

26 Sep - Malaysia: Extension of payment period under second phase of voluntary disclosure program for indirect taxes

23 Sep - Oman: Rules for income tax exemption related to new businesses involved in economic diversification (COVID-19)

20 Sep - India: Monthly summary of income and indirect tax developments (August 2022)

19 Sep - India: Guidance regarding withholding on benefits arising from recipient’s business or profession

19 Sep - Korea: Preferential tariff rate under Korea-ASEAN free trade agreement; customs value based on fallback method (Tax Tribunal decisions)

13 Sep - UAE: Excise tax guidance

12 Sep - Philippines: Work-from-home arrangement temporarily extended for certain registered business enterprises

12 Sep - Qatar: Excise tax compliance obligations for importers of energy and carbonated drinks, tobacco, “special purpose goods”

12 Sep - India: Guidance on filing GST transitional credit forms

9 Sep - India: Application of “most favoured nation” clause under treaty with the Netherlands (tribunal decision)

9 Sep - Australia: “Excluded transactions” in beneficial ownership (New South Wales)

8 Sep - Malaysia: Summary of income and indirect tax developments (September 2022)

7 Sep - Bahrain: Reminder of final phase of digital stamp regime for tobacco products

6 Sep - Bahrain: Request for comments to assist with introduction of e-invoicing

2 Sep - Sri Lanka: Tax and customs duties proposals in 2022 interim budget

1 Sep - Sri Lanka: Proposed increase to VAT rate, effective 1 September 2022

1 Sep - Philippines: Guidance on lifting suspension of field audit and operations

August 2022

31 Aug - New Zealand: GST measures and dual-resident company tax changes in pending bill

31 Aug - Vietnam: Recent corporate income tax and VAT guidance

26 Aug - Vietnam: Measures concerning laws or rules regarding land, insurance, automobile transport, and medical equipment

26 Aug - Hong Kong: Implementation of Pillar Two deferred to 2024 at the earliest

25 Aug - Australia: Entities paying notional GST have rights of appeal in federal courts (Federal Court decision)

24 Aug - Bahrain: Guidance on VAT registration certificates, simplified tax invoices

23 Aug - Australia: Proposed reporting regime for the sharing or “gig” economy

23 Aug - Australia: Treasury to conduct “token mapping” work for cryptoasset regulatory framework

23 Aug - Philippines: New letter of authority must be issued if tax investigation reassigned

22 Aug - India: Guidance regarding filing of Form 67 for individual taxpayers to claim foreign tax credit

19 Aug - Australia: Board of Taxation releases consultation guide on digital asset tax treatment

19 Aug - Australia: “Notifiable event” related to connected entities stamp duty exemption (Western Australia)

16 Aug - Philippines: Guidelines on VAT exemption for senior citizens and persons with disabilities on certain online purchases

16 Aug - Thailand: E-commerce business operations by foreign companies

16 Aug - UAE: New service for voluntary disclosure of errors on customs declarations

15 Aug - Malaysia: Monthly summary of income and indirect tax developments (August 2022)

12 Aug - Australia: Proposal for increased public reporting of tax and country-by-country information

12 Aug - Cambodia: Tax relief measures to support tourism sector

11 Aug - Hong Kong: Company directors not liable for additional taxes for incorrect profits tax returns filed by company (court decision)

10 Aug - Korea: Tax reform proposals for 2022

10 Aug - Australia: Draft update to GST treatment of cross-border supplies, digital currency

10 Aug - Hong Kong: Income tax treaties to be modified by MLI

8 Aug - Hong Kong: Salaries tax treatment of share award; vesting vs. forfeiture (court decision)

8 Aug - KPMG report: Tax guide for countries in Middle East and South Asia region

4 Aug - Australia: Proposal to require reporting by digital platforms

4 Aug - Philippines: Suspension lifted, certain tax compliance actions of revenue officers

4 Aug - Vietnam: VAT measures relating to real estate transfers, power plants, and investment projects

3 Aug - Bahrain: VAT violations identified during field inspections

3 Aug - Hong Kong: Profits tax implications on sales of commercial buildings

2 Aug - Hong Kong: Intra-group share transfer involving UK LLPs eligible for stamp duty relief (court decision)

2 Aug - Malaysia: Proposed measures for sales tax on low-value goods include new requirements for online sellers

1 Aug - Malaysia: Guidance on service tax exemption for digital payment services by local non-bank providers

1 Aug - Indonesia: Guidance regarding taxation of coal mining sector, including VAT

July 2022

28 Jul - Vietnam: Provisions concerning intellectual property, land management and use, environmental protection, chemical industry strategy

25 Jul - Cambodia: Site visits by tax authority to enterprises in Phnom Penh

25 Jul - India: Amendment with respect to nondeductible expenses does not have retroactive effect (high court decision)

25 Jul - India: Guidance that deferred payments for road construction not exempt from GST held invalid (high court decision)

22 Jul - Malaysia: Indirect tax bills presented to Parliament

20 Jul - Malaysia: Exemption Orders for foreign-sourced income

20 Jul - Australia: ATO guidance on treaty shopping arrangements

13 Jul - Australia: Guidance regarding tax treatment of cryptoassets

12 Jul - India: Company earned income upon conversion of compulsory convertible debentures (tribunal decision)

12 Jul - Indonesia: Income tax and VAT treatment of crypto trading and fintech transactions

12 Jul - Indonesia: New implementing regulations of VAT law

12 Jul - Philippines: Tax treatment of sales of listed stocks

11 Jul - India: Guidance on definition of virtual digital asset subject to new tax regime

11 Jul - India: Guidance on tax withholding on transfers of virtual digital assets other than through an exchange

11 Jul - India: Measures incorporating GST Council recommendations

11 Jul - India: Supplier entitled to refund of accumulated input tax credit under inverted tax structure (high court decision)

11 Jul - Pakistan: Tax measures enacted in Finance Bill 2022

11 Jul - Philippines: Guidance regarding receipts and invoices

11 Jul - Philippines: Guidance regarding service of electronic letter of authority

11 Jul - UAE: One-year time limit for claiming VAT refunds by tourists

1 Jul - Australia: Extension of transition period for residency management and control test

1 Jul - Cambodia: Supplemental guidance regarding VAT on tangible fixed assets

1 Jul - India: GST Council recommends rate rationalization and clarification measures

1 Jul - Malaysia: Implementation of service tax on goods delivery services postponed

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.