Following changes introduced by the Finance Act 2019, commercial property held by non-UK residents is now within the UK CGT net.

In June 2015, the European Commission (EC) published a list of 30 jurisdictions classified as 'non-cooperative' for tax purposes.

With effect from 1 April 2016, the categories of foreign workers which can be exempt from work permit has been expanded.

Consistent with the OECD framework, the IRD will also be participating in automatic exchange mechanisms designed to facilitate the exchange of CbCRs between countries.

Citizens of Hong Kong are looking for a secure future and business environment. Let's take a closer look at the best second passport options!

Non-US persons with US family members can benefit their families through the establishment of a foreign grantor trust. A properly drafted foreign grantor trust can provide highly favorable US federal tax treatment...

In her first policy address, Mrs. Carrie Lam, Chief Executive of Hong Kong SAR, set out her proposed tax changes for Hong Kong.

On 10 January 2017, the Ministry of Finance ("MOF") issued a Circular to extend the duty-free shopping policies to visitors departing from Hainan Island by train.

There has been unprecedented pressure on both tax neutral countries and the users of these tax efficient jurisdictions, to pay what is deemed a 'fair' amount of tax.

In line with the recommendations contained in the OECD BEPS report on Action 13, South Korea has adopted new documentation requirements of master file and local file for income years beginning on or after 1 January 2016.

For Dutch companies expanding into Asia, the Netherlands–Hong Kong corporate structure is a well-established framework.

On 16 January 2017, the Secretary for Financial Services and the Treasury, Professor K C Chan, on behalf of the Government of the Hong Kong Special Administrative Region...

The Hong Kong Legislative Council Panel on Financial Affairs published, on 30 October, the Outcome of the Consultation on the Implementation of Global Minimum Tax and Hong Kong Minimum Top-up Tax (HKMTT), collectively the Pillar Two Global Anti-Base Erosion (GloBE) Rules.

On 16 January 2017, the MOF and SAT jointly released the Draft Law of the People's Republic of China on Cultivated Land Occupation Tax for public consultation.

The Union Budget 2016 introduced a special 'royalty tax' which the tax rate on income earned from patents is 10% (vs. 30% after deducting expenses).

Thailand introduced a VAT on foreign ecommerce operators and is encouraging foreign talent to relocate to Thailand by offering attractive tax benefits.

This edition contains news on various recent tax developments in East and Southeast Asia.

A new spring and many new developments on taxation in Asia

With the passage of the 2016 tax reform bills on 29 March 2016, the effective corporate tax rates for a company which is liable to size-based business taxes will be reduced.

On 8 April 2016, the Manpower Minister of Singapore announced in the Parliament that new criterion will be introduced in approving work pass applications aiming at strengthening the competitiveness of the Singapore workforce.