Regional Tax Round-Up

December 2018

The Regional Tax Round-Up is a quarterly series which features hot topics and recent changes affecting the personal income taxation of your internationally-mobile employees across the region.

This issue's highlights:

China

  • New individual income tax law (w.e.f  1 Jan 2019) - solicitation of comments on implementation rules and itemized deductions 

Singapore

  • Tightening of requirements for companies using cost-plus mark-up basis may open concessionary tax treatment for certain employee benefits
  • Proposed changes to individual tax treatment of employer-provided accommodation benefit
  • Further updates on changes to Employment Act 

Malaysia

  • Special income tax disclosure programme announced before stricter penalty regime applies

Hong Kong 

  • Year-end action needed (by 31 December 2018) for transitional double tax relief from salaries tax
  • 'Smooth departure' termination payments not taxable

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