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ARTICLE · 22 OCTOBER 2018

Asia Tax Bulletin - Autumn 2018

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Recent months have seen a move toward rationalisation and clarification in many countries' tax legislation, as well as measures to boost investment in the information economy

GlobalTax
Pieter De Ridder
Pieter De Ridder
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Recent months have seen a move toward rationalisation and clarification in many countries' tax legislation, as well as measures to boost investment in the information economy. China has passed a proposed amendment, reported in the previous issue of this Bulletin, for reforming individual income tax by eliminating the five-year tax facility for foreigners living in China. It has also implemented a number of changes to VAT, in part in response to the imposition of tariffs on US products.

As discussed in the previous edition of this Bulletin, Hong Kong has gazetted an ordinance to expand tax relief for intellectual property purchasing. In addition, Hong Kong has extended the loss carry-forward period for high- and new-technology enterprises and scientific technology SMEs, and made amendments to transfer pricing and information exchange in keeping with the OECD's BEPS package. In Japan, an initiative has been introduced granting tax benefits to promote the uptake of

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