Category: Asia
New Saudi Arabia tax guidance addresses mutual agreement procedure
Here are the amended laws regarding mutual agreement procedure (MAP). ... - Continue reading
Vietnam’s Tax Administration Law Takes Effect in July 2020
As from the 1st July 2020, Vietnam's tax reform measures will be implemented. ... - Continue reading
Cyprus: Double Tax Treaty Between Cyprus And Kazakhstan Ratified; Will Enter Into Force 2021
Cyprus and Kazakhstan sign double taxation agreement with one another. ... - Continue reading
Angola, UAE ratify tax agreement to remove trade barriers
LUANDA, June 16 (Xinhua) — Angola and the United Arab Emirates (UAE) have ratified a Convention to Avoid Double Taxation and Tax Evasion, director of the press office of the Angolan General Tax Administration said on Tuesday. Braulio Assis said the tax agreement aims to ensure a greater flow of… – Continue reading
Gov’t tightens property rules to stem speculation
More on property tax laws in South Korea. ... - Continue reading
Indonesia defends digital tax policy despite US scrutiny
The USA seems to be relentless at discouraging the trending 'Digital Tax which seems inevitable now. France has also already shown a keenness towards its imposition, and now it's the turn of Indonesia. ... - Continue reading
Move to tax online sellers ‘unnecessary, insensitive’
Senator Sherwin Gatchalian expressed his disagreement concerning the treatment of online taxes. ... - Continue reading
Tax evasion of Rs 8 cr found in paan masala smuggling case
Tax evasion of Rs 8 crore unveiled. ... - Continue reading
Spotlight on Mauritius tax treaty in Tiger Global ruling
Tiger Global in a difficult court case as it finds itself deprived of tax relief by the Authority of Advance Ruling (AAR). ... - Continue reading
ITR forms for 2019-20 notified; disclosure of electricity bill over Rs 1 lakh mandatory
Filing of ITR over Rs1 lakh now compulsory for companies. ... - Continue reading
FBR mulls online feature to show WHT deduction
The tax authority of Pakistan to introduce an online option as tax reform. ... - Continue reading
How to Determine Your Foreign Employees’ IIT Liability in China: COVID-19 Travel Ban Series
Guidance for companies in China with non-domiciled employees. ... - Continue reading
With the Indian bond market still developing, consider US treasury bonds
A simple way to invest in US Treasury bonds is to invest in a low-cost ETF listed in the US ... - Continue reading
Double-tax draft law with Malaysia and South Korea shows progress
This article discusses the benefits of Cambodia's double taxation agreements with Malaysia and South Korea. ... - Continue reading
Seoul to implement convention on MNCs’ tax avoidance in Sept.
Seoul signs multilateral convention to counter tax avoidance. ... - Continue reading
BEPS MLI to enter to force for Czech Republic, Korea
Czech Republic and South Korea ratify the Multilateral Convention to Implement Tax Treaty Related Measures in an effort to fight against Base erosion and Profit Shifting. ... - Continue reading
China: Taxation On A Foreign Enterprise Without A Physical Office In China: Are You Obligated To Pay?
Questions on physical presence and tax residence in China answered. ... - Continue reading
FBR mulling over options to fetch additional Rs600bn
There's no denying that the whole world is having to prepare for a tough economic situation right now following the wave of the COVID-19. Here are some of Pakistan's forethoughts to remedy its economy. ... - Continue reading
India: Permanent Establishment (PE) In India – Broad Understanding
Some insights into tax residence and permanent establishment for businesses in India. ... - Continue reading
POGOs must settle all tax liabilities — Dominguez
Philippine offshore gaming operators (POGO) to pay all tax liabilities before being allowed to operate again, says Finance secretary Carlos Dominguez. ... - Continue reading
Stranded NRIs could be in for tax trouble
Some bad news for NRIs who are stuck in the lockdown. ... - Continue reading
Turkey: The treaty on avoiding double taxation of income taxes and tax evasion and its additional protocol between Republic of Turkey and Republic of Cote D’ivoire has been approved by the President of Turkey
Double tax treaty between Turkey and Ivory Coast has been approved by the presidential decree numbered 2470. ... - Continue reading
PSX urges govt to eliminate or reduce CGT for two years
The Pakistan Stock Exchange (PSX) has a few proposals to the government in an effort towards reform. ... - Continue reading
Vietnam faces increasing tax evasion and avoidance
In the recent years, Vietnam has experienced one of the highest loss of revenue due to tax evasion and tax avoidance from multinationals. ... - Continue reading
Canada: Canada-Israel Income Tax Convention & The Making Of Aliyah From Canada To Israel – Canadian Tax Lawyer Analysis
Clarifications regarding Aliyah for Canadian residents. ... - Continue reading
Revenue-neutral incentives proposed for capital market growth
Proposals from the Pakistan Stock Exchange for the upcoming budget. ... - Continue reading
Tax collection from services sector sharply falls 20pc in March
Official data shows that Pakistan has faced a sharp decline in its tax revenue in the month of March due to the coronavirus. ... - Continue reading
India’s new 2 percent equalisation levy on the digital economy enters into force
Digital world - Make space for an equalisation levy! ... - Continue reading
New South Korea transfer pricing and diverted profits tax laws enter into effect
A few information on amended tax laws for South Korea as from 2020. ... - Continue reading
Traders press for incentive package to document economy
Pakistan urged for more incentives by traders. ... - Continue reading
Indonesia: Indonesia And Singapore Sign Updated Double Taxation Avoidance Agreement
Indonesia and Singapore sign newest double tax avoidance treaty. ... - Continue reading
FBR receives 10,000 income tax returns in virus downturn
10,000 income tax returns received by the Federal Board of Bureau during the COVID-19. ... - Continue reading
Value added textile demands zero rated sales-tax regime
The value added textile export sector has demanded the government to revive zero-rated sales-tax regime and reinstate SRO 1125 in its true spirit to address the industries’ liquidity problems. ... - Continue reading
Finance bill passed ahead of coronavirus lockdown
Here are the amendments and clarifications concerning tax residence and dividend distribution tax. ... - Continue reading
Swiss banks open the door for India’s tax evasion crackdown
As the famed secrecy walls of Swiss banks started to crumble, some Indians felt a chill down their spine. ... - Continue reading
Pakistan tax collection 62pc below its potential: IMF
Resident Chief of IMF, Teresa Daban Sanchez, has stated that Pakistan is not being efficient enough tax-wise. Here's more to it. ... - Continue reading
Pakistan recovers billions from untaxed offshore funds
And hop! - Rs1.8bn from untaxed offshore funds into Pakistan's possession. ... - Continue reading
India: DENIAL OF TAX TREATY BENEFITS- ARE GRANDFATHERED INVESTMENTS FAIR GAME?
A recent ruling by the Authority for Advance Rulings (AAR) in the case of Bidvest has stirred the proverbial hornets' nest when it comes to the issue of treaty protection, and has reignited the debate of substance over form when it comes to availing the benefits of a tax treaty. ... - Continue reading
Tax residency rules for NRIs changed
Budget 2020 and taxation of non-resident Indians. ... - Continue reading
Tax collection on cash withdrawal dives 63 percent
This sharp decline was because of the exemption from the levy given to active taxpayers. ... - Continue reading
AMLA, Bank Secrecy Law for overhaul
When forces join together to tackle Anti-Money Laundering and the Bank Secrecy. ... - Continue reading
Lebanon passes law to lift banking secrecy
Lebanon’s Justice Minister Marie-Claude Najm said on Thursday that the Lebanese cabinet has approved a draft law to lift banking secrecy, MTV local TV channel reported. Also, Lebanon’s financial prosecutor Ali Ibrahim froze the assets and properties of 20 Lebanese banks. Lebanon has lately witnessed a shortage in U.S. currency… – Continue reading
India Budget 2020: The key takeaways
Here are some important tax proposals for India's 2020 Budget. ... - Continue reading
Senators wary of money laundering in POGO
POGO continues to be involved in hefty money laundering, and it certainly is making senators of Philippines worried about it. ... - Continue reading
In Depth: The Race To Beat Australia’s Capital Gains Tax Deadline
Thousands of Australian expats have until 30 June to sell their family homes or face being slapped with a hefty tax after the government reversed its position for exemptions. ... - Continue reading
Cambodia-Hong Kong DTA: Key Features
On January 1, 2020, the double taxation avoidance (DTA) agreement between Cambodia and Hong Kong came into force. ... - Continue reading
