Australia

• Reforms to Part IVA ‘general anti-avoidance’ provision announced
• Transfer pricing law changes introduced into Parliament
• Investment Manager Regime – second exposure draft released
• Further consultation on potential thin capitalization changes recommended
• Mining Resource Rent Tax (MRRT) and Petroleum Resource Rent Tax (PRRT) laws enacted
• Australian shipping reforms

China

• 2012 China tax inspection plan

Hong Kong

• Hong Kong releases final guidelines on Advanced Pricing Arrangement (APA) program

India

• Special Bench (SB) rules on taxability of interest paid by an Indian branch to a head office of a foreign bank
• International tax and anti-abuse provisions within Finance Bill, 2012

Malaysia

• Public Ruling No. 11/2011: Claiming of bilateral and unilateral tax credits
• Tax deduction on franchise fee gazetted

New Zealand

• New Zealand Inland Revenue aim to focus on industry benchmarking

Singapore

• Productivity and Innovation Credit (PIC) Scheme: an update

Taiwan

• Taiwan announces tax regulations on roaming service revenues of foreign telecommunication service providers

Thailand

• Electronic tax invoices to be accepted in Thailand

Vietnam

• New Decrees on amendment of Value Added Tax (VAT) and Corporate Income Tax (CIT)
• New circular on VAT
• New circular on Special Sales Tax (SST)
• Noticeable Official Letters on VAT and Foreign Contractor Tax (FCT)

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