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In May's issue, we have included:
British Virgin Island
- Guidance notes for country by country reporting available
Cayman Island
- Economic substance requirements for certain entities
China
- China introduced new Foreign Investment Law
Hong Kong
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SFC publishes guidance on enhanced disclosures for green or ESG funds
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IRD issues circular and explanatory notes on stamp duty exemptions for securities transfers under open ended fund company structure
Luxemburg
- Luxembourg ratifies the BEPS Multilateral Instrument
Malaysia
- Finance Bill 2018: Review of real property gains tax (“RPGT”) rates
Singapore
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Developers (Anti Money Laundering and Terrorism Financing) Act 2018 passed
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Public consultation on proposed legislative amendments for the corporate income tax treatment of Variable Capital Companies (“VCCs”)
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Singapore Budget 2019: extend and refine tax incentive schemes for funds managed by Singapore-based fund manager companies
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Singapore Budget 2019: recovery of GST for qualifying funds
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Singapore Budget 2019: lapse of the Property Tax (Tourist Projects) Order
South Korea
- National pension service adopts the Stewardship Code
Lastly, we would like to thank our committee who helped putting together the Newsletter. Details about this committee can be found here.
May 2019 - Regulatory and tax newsletterPDFDownload