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Details

  • Service: Tax, International Corporate Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 9/13/2012

Asia Pacific - Tax update for financial institutions (September 2012) 

September 13:  KPMG’s September 2012 report of tax developments in the Asia Pacific region concerning financial institutions includes descriptions of recent legislative, regulatory, and judicial developments.

The September 2012 edition includes the following discussions:


  • Australia: Legislative developments; taxation rulings and determinations; ATO interpretive decisions; other developments
  • China: Official launch of the RMB qualified foreign institutional investors (RQFII) pilot program; the tax authorities clarify corporate income tax deductions
  • Hong Kong: Budget 2012-2013; Islamic finance; APA program; treaty update; the Nice Cheer case on unrealised gains
  • Japan: New reporting requirement for foreign stock-based compensation
  • Korea: Guidelines for application for reduced treaty rate
  • Malaysia: Statement of monetary and non-monetary incentive payment to agents, dealers or distributors (Form CP58); recent income tax rules; recent exemption orders; public rulings
  • Mauritius: Updates on treaties; income tax rulings
  • New Zealand: Use of optional convertible notes (OCNs); draft statement on application of the tax avoidance provisions; tax priorities for 2012-13; 2012 budget; employee benefit taxation proposals; tax bill with new international tax rules
  • Philippines: Revenue circular and ruling
  • Singapore: Tax certainty on gains on the disposal of equity investments
  • Taiwan: Amendments to capital gains tax on Taiwan securities trading
  • Thailand: Tax exemptions on dividends received by a resident of Thailand

Read the September 2012 report [PDF 1 MB] prepared by KPMG member firms: General tax update for financial institutions in Asia Pacific (September 2012)




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1801 K Street NW
Washington, DC 20006.

 

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