Welcome to the August 2016 issue of Tax Newsbites. This publication aims to share bite-sized information and updates from Singapore and around the region.
Some of the updates in the period 16 July 2016 to 31 August 2016 include:
The Inland Revenue Authority of Singapore (IRAS) provided a list of documents that may be submitted to substantiate that the underlying tax has been paid on the income out of which foreign sourced dividend is paid.
Australia: The Australian Tax Office has proposed a rating assessment scale for marketing and procurement hub arrangements.
India: The protocol to the India-Mauritius tax treaty entered into force on 19 July 2016.
Indonesia: The Indonesian Ministry of Finance issued regulations regarding the Tax Amnesty for taxpayers that indirectly hold assets through a Special Purpose Vehicle which is effective from 23 August 2016. The Indonesian Director General of Tax issued the implementing regulation of the Tax Amnesty Law on 29 August 2016.