March/April 2019  
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Asia-Pacific Tax Bulletin
 
This free e-mail service informs you about the contents of the forthcoming edition of Asia-Pacific Tax Bulletin.

Issue No. 2 - 2019 of the Asia-Pacific Tax Bulletin is now available online.

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Number 2 - 2019 contains the following:
ARTICLES
China (People’s Rep.)
The “Teachers and Researchers” Article in Tax Treaties
Xiaodan Zhu
To promote international communication and cooperation in the field of educational or academic activities, foreign teachers and researchers who work for Chinese universities or scientific research institutions generally receive an income tax exemption pursuant to the “Teachers and Researchers” Article in tax treaties. The author analyses the origin, application and implementation of the Article from China’s perspective, and asks if this Article differs from the “Students” Article. It also considers the interpretation of and the obstacles to, from the point of view of China’s domestic law, the application of the Article.
India
Taxation of Income from a Composite Contract for a Turnkey Project
Dinesh Verma
In this article, the author reviews the legal provisions and landmark court decisions relating to the taxation of income from a composite contract entered into by a foreign company. He delineates the uncertainties surrounding the tax liability from such projects, which is the subject of much litigation. He concludes that a foreign company’s tax liability arising from the offshore supply and offshore services component of the composite contract is fairly settled, provided that the contractual documents are carefully drafted.
OECD
Application of Mutual Agreement Procedure Article under the Multilateral Instrument to Covered Tax Agreements
Dr Alfred Chan Kwok Ki
The author traces the development of the mutual agreement procedure article and the reservations for the MAP article under the multilateral instrument. With examples drawn from some selected contracting jurisdictions holding different positions on the MLI, he illustrates how the MAP article is applied to the respective covered tax agreements and offers his comments accordingly.
Pakistan
Taxation of Income of Non-Residents
Bilal Hassan
The author discusses different types of Pakistan-sourced income of non-residents and their taxation in the hands of non-residents in Pakistan, as updated in accordance with Finance Act 2018. Exemptions available to non-residents are also highlighted.
Singapore
Tax Implications of Three New Financial Reporting Standards Title
Poh Eng Hin
This article examines the Singaporean corporate income tax implications arising from the recent adoption of three new financial reporting standards; namely, FRS 109 (SFRS(I) 9) Financial Instruments, FRS 115 (SFRS(I) 15) Revenue from Contracts with Customers and FRS 116 (SFRS(I) 16) Leases. Tax planning opportunities and pitfalls are highlighted, and the impact on tax compliance burdens discussed.
INTERNATIONAL PERSPECTIVE ON ASIA-PACIFIC TAXATION AND INVESTMENT
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