<br />
NOV 2023 – NOV 2024<br />
DLA Piper<br />
ASIAPAC TAX NEWSLETTER<br />
Contents<br />
Mainland China ..................................................... 6<br />
Tax dispute resolution in China: an attempt in specialized<br />
courts and procedural reforms .................................................. 7<br />
Hong Kong .............................................................. 9<br />
Legislation for the “Patent box” tax incentive<br />
came into force .............................................................................. 10<br />
Publication of first advance ruling on family-owned<br />
investment holding vehicles tax concession ........................... 11<br />
Hong Kong launches public consultation on<br />
implementation of global minimum tax and Hong Kong<br />
domestic minimum top-up tax ................................................... 15<br />
Implementation of Tax Certainty Enhancement Scheme .... 19<br />
Inland Revenue (Amendmen<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 1" href="http://viewer.zmags.com/publication/3b41f068?page=1"> NOV 2023 – NOV 2024 DLA Piper ASIAPAC TAX NEWS</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 2" href="http://viewer.zmags.com/publication/3b41f068?page=2"> Contents Mainland China .........................</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 3" href="http://viewer.zmags.com/publication/3b41f068?page=3"> Editorial note Welcome to our eighth issue of the</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 4" href="http://viewer.zmags.com/publication/3b41f068?page=4"> Japan In line with the recent international conse</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 5" href="http://viewer.zmags.com/publication/3b41f068?page=5"> New Zealand Recognising their attractiveness in o</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 6" href="http://viewer.zmags.com/publication/3b41f068?page=6"> Mainland China DLAPIPER.COM </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 7" href="http://viewer.zmags.com/publication/3b41f068?page=7"> Tax dispute resolution in China: an attempt in sp</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 8" href="http://viewer.zmags.com/publication/3b41f068?page=8"> The establishment of specialized tax tribunals ha</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 9" href="http://viewer.zmags.com/publication/3b41f068?page=9"> Hong Kong DLAPIPER.COM </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 10" href="http://viewer.zmags.com/publication/3b41f068?page=10"> Legislation for the “Patent box” tax incentive ca</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 11" href="http://viewer.zmags.com/publication/3b41f068?page=11"> Publication of first advance ruling on family-own</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 12" href="http://viewer.zmags.com/publication/3b41f068?page=12"> During the transitional period:- Members of the </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 13" href="http://viewer.zmags.com/publication/3b41f068?page=13"> • As at 30 September 2023, the aggregate of the a</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 14" href="http://viewer.zmags.com/publication/3b41f068?page=14"> Our observations Advance Ruling No. 73 is the fir</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 15" href="http://viewer.zmags.com/publication/3b41f068?page=15"> Hong Kong launches public consultation on impleme</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 16" href="http://viewer.zmags.com/publication/3b41f068?page=16"> Also, as clearly provided in the Consultation Pap</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 17" href="http://viewer.zmags.com/publication/3b41f068?page=17"> Hong Kong minimum top-up tax The HKMTT will be so</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 18" href="http://viewer.zmags.com/publication/3b41f068?page=18"> DLAPIPER.COM Filing obligations Each Hong Kong c</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 19" href="http://viewer.zmags.com/publication/3b41f068?page=19"> Implementation of Tax Certainty Enhancement Schem</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 20" href="http://viewer.zmags.com/publication/3b41f068?page=20"> • Exclusions • Excluded Investor Entities • Insur</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 21" href="http://viewer.zmags.com/publication/3b41f068?page=21"> Inland Revenue (Amendment) (Taxation on Foreign-s</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 22" href="http://viewer.zmags.com/publication/3b41f068?page=22"> Hong Kong removed from the EU’s watchlist of non-</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 23" href="http://viewer.zmags.com/publication/3b41f068?page=23"> Inland Revenue Department issues guidance on cour</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 24" href="http://viewer.zmags.com/publication/3b41f068?page=24"> The following table summarizes the examples provi</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 25" href="http://viewer.zmags.com/publication/3b41f068?page=25"> DLAPIPER.COM </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 26" href="http://viewer.zmags.com/publication/3b41f068?page=26"> Japan DLAPIPER.COM </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 27" href="http://viewer.zmags.com/publication/3b41f068?page=27"> National Tax Agency’s latest report on informatio</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 28" href="http://viewer.zmags.com/publication/3b41f068?page=28"> 3. Summary of the latest report In the Latest Rep</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 29" href="http://viewer.zmags.com/publication/3b41f068?page=29"> Overview of 2024 Tax Reform By Keitaro Uzawa and </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 30" href="http://viewer.zmags.com/publication/3b41f068?page=30"> • For Middle-scale Companies Middle-scale Com</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 31" href="http://viewer.zmags.com/publication/3b41f068?page=31"> • Introduction of “Innovation Box“ Tax Incentive </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 32" href="http://viewer.zmags.com/publication/3b41f068?page=32"> • Exemption Criteria for Foreign Business Operato</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 33" href="http://viewer.zmags.com/publication/3b41f068?page=33"> Singapore DLAPIPER.COM </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 34" href="http://viewer.zmags.com/publication/3b41f068?page=34"> Section 10L: Singapore tax treatment of foreign-s</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 35" href="http://viewer.zmags.com/publication/3b41f068?page=35"> Adequate economic substance New guidance As Secti</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 36" href="http://viewer.zmags.com/publication/3b41f068?page=36"> The e-Tax Guide provides examples on Singapore Re</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 37" href="http://viewer.zmags.com/publication/3b41f068?page=37"> Administrative requirements The e-Tax Guide sets </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 38" href="http://viewer.zmags.com/publication/3b41f068?page=38"> Sovereign Wealth Funds in Singapore: Section 13V </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 39" href="http://viewer.zmags.com/publication/3b41f068?page=39"> The funds of the “sovereign fund entity“ (which m</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 40" href="http://viewer.zmags.com/publication/3b41f068?page=40"> Application and Renewal Process In practice, the </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 41" href="http://viewer.zmags.com/publication/3b41f068?page=41"> Singapore as a Family Office Hub By Barbara Voska</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 42" href="http://viewer.zmags.com/publication/3b41f068?page=42"> Tax highlights from the Singapore 2024 Budget By </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 43" href="http://viewer.zmags.com/publication/3b41f068?page=43"> The RIC scheme is consistent with the Global Anti</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 44" href="http://viewer.zmags.com/publication/3b41f068?page=44"> Singapore’s Seventh Edition Transfer Pricing Guid</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 45" href="http://viewer.zmags.com/publication/3b41f068?page=45"> Transition from IBOR to RFR: • The guidelines pro</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 46" href="http://viewer.zmags.com/publication/3b41f068?page=46"> Conclusion The Seventh Edition of Singapore’s Tra</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 47" href="http://viewer.zmags.com/publication/3b41f068?page=47"> Amendments to the Singapore Fund Tax Incentive Sc</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 48" href="http://viewer.zmags.com/publication/3b41f068?page=48"> Removal of the Requirement that an Approved Fund </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 49" href="http://viewer.zmags.com/publication/3b41f068?page=49"> Section 13U specifics Regarding Section 13U only,</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 50" href="http://viewer.zmags.com/publication/3b41f068?page=50"> 1. New interpretation/definition of AUM; 2. Remov</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 51" href="http://viewer.zmags.com/publication/3b41f068?page=51"> DLAPIPER.COM </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 52" href="http://viewer.zmags.com/publication/3b41f068?page=52"> Australia DLAPIPER.COM </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 53" href="http://viewer.zmags.com/publication/3b41f068?page=53"> Australian PepsiCo decision – landmark judgement </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 54" href="http://viewer.zmags.com/publication/3b41f068?page=54"> Supply of Concentrate Payment CMSPL (Singapore)</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 55" href="http://viewer.zmags.com/publication/3b41f068?page=55"> Referring to various stamp duty cases as preceden</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 56" href="http://viewer.zmags.com/publication/3b41f068?page=56"> Diverted Profits Tax (DPT) Majority Judges: Perra</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 57" href="http://viewer.zmags.com/publication/3b41f068?page=57"> Similar ATO Disputes and Activities It is importa</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 58" href="http://viewer.zmags.com/publication/3b41f068?page=58"> Important Australian petroleum industry tax refor</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 59" href="http://viewer.zmags.com/publication/3b41f068?page=59"> Legislative updates as a result of the Shell Ener</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 60" href="http://viewer.zmags.com/publication/3b41f068?page=60"> Revised Australian Build-to-Rent tax concessions </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 61" href="http://viewer.zmags.com/publication/3b41f068?page=61"> New Zealand DLAPIPER.COM </a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 62" href="http://viewer.zmags.com/publication/3b41f068?page=62"> New Zealand Inland Revenue issues guidance on the</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 63" href="http://viewer.zmags.com/publication/3b41f068?page=63"> Key points arising from the guidance While much o</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 64" href="http://viewer.zmags.com/publication/3b41f068?page=64"> Emergency Response Bill introduced by Inland Reve</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 65" href="http://viewer.zmags.com/publication/3b41f068?page=65"> Key changes will be implemented through the new s</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 66" href="http://viewer.zmags.com/publication/3b41f068?page=66"> Exempt employee share scheme threshold increase T</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 67" href="http://viewer.zmags.com/publication/3b41f068?page=67"> GST treatment of investment management fees charg</a>
<a title="A23917_Asia_Pacific_Tax_Newsletter_November_2024_Magazine_(Final) page 68" href="http://viewer.zmags.com/publication/3b41f068?page=68"> dlapiper.com DLA Piper is a global law firm o</a>