Keywords: tax developments, Southeast Asia, China, Japan, Korea, India
We are pleased to present to you the Summer issue of our
firm's Asia Tax Bulletin. This is a quarterly publication in
which we report on tax developments in Southeast Asia, China,
Japan, Korea and India. The style and concept of this publication
aim to provide the reader with a per country brief summary of
recent tax developments.
CHINA
Foreign Exchange Convertibility
- On 8 April 2015, the State Administration of Foreign Exchange
(SAFE) issued the Circular of the SAFE on Relevant
Issues Concerning the Reform of the Administrative Method of the
Conversion of Foreign Exchange Funds by Foreign-invested
Enterprises/国家外汇管理局关于改革外商投资企业外汇资本金结汇管理方式的通知
(Circular 19), which came into effect on 1 June
2015. Under Circular 19, foreign-invested enterprises (FIEs) across
the country, and not just FIEs in designated areas, are able to
convert foreign exchange in their capital accounts into RMB at
