Spotlight On COVID-19 MeasuresJul-21-2020
For the past 6 months, COVID-19 measures have dominated tax developments worldwide and they continue to do so. As countries grapple with a global economic slowdown, and some with a possible second wave, governments in the Asia-Pacific region continue to roll out tax measures to ease the burden on taxpayers as they face an uncertain future.
Bhutan, Hong Kong, India and Sri Lanka have granted tax payment and filing extensions and the Australian Taxation Office has extended to 30 September 2020 the end date for the simplified method of calculating additional running expenses related to working from home. Bangladesh, China and Thailand in particular have issued a series of additional tax deductions and exemptions. Fiji, in its recently announced budget, extended some of its earlier announced COVID-19 measures until 31 December 2021 and made others permanent. All these developments seem to indicate governments expecting a slow and prolonged recovery, extending well past 2021.
China (People's Rep.)