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Asia Transfer Pricing Brief: Q1 2024

2024-04-26
In our Asia Transfer Pricing Brief for Q1 2024, we highlight the latest transfer pricing developments across Asian markets. Among others, Indonesia has released updated transfer pricing guidelines, providing clarity and guidance for businesses operating in the country. Singapore is set to apply the global minimum tax rate of 15 percent for large multinational enterprises (MNEs) and impose domestic top‑up tax starting on or after January 1, 2025. Hong Kong also aims to achieve alignment with global minimum tax standards by implementing similar measures starting from 2025.
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India Briefing

Clarifications Issued by the Indian Government on New EV Policy Implementation

04/25/2024

On March 15, the Indian government approved a new US$500-million-worth Electric Vehicle (EV) Policy, offering range of incentives with the intention of drawing investments from global EV companies and positioning India as a prime manufacturing hub for state-of-the-art EVs.

China Briefing

China Leads Emerging Asia Manufacturing Index 2024: New Report from Dezan Shira & Associates

04/24/2024

China leads the Emerging Asia Manufacturing Index 2024, leveraging innovation, trade networks, infrastructure, and a skilled workforce, according to a new report produced by Dezan Shira & Associates’ specialists.

ASEAN Briefing

Prabowo Subianto Becomes Indonesian President

04/25/2024

On April 22, 2024, Indonesia’s General Election Commission officially declared Prabowo Subianto and Gibran Rakabuming Raka as the next president and vice president respectively.

Middle East Briefing

Over 15,000 Indian Companies Joined Dubai Chamber of Commerce in 2023

04/24/2024

Dubai continues to be a magnet for Indian businesses, as evidenced by a remarkable influx of 15,481 new Indian-owned enterprises joining the Dubai Chamber of Commerce in 2023 alone.

China Briefing

China-Germany Bilateral Relations: Trade and Investment

04/24/2024

For nearly five decades, Germany has consistently ranked as China’s top trading partner in Europe, while China has maintained its position as Germany’s primary trading partner for eight consecutive years.

Vietnam Briefing

Unlocking Investment Opportunities: Vietnam’s Q1 Business Activity Rebound

04/23/2024

From textiles to petroleum, banking to retail, key industries are reporting upbeat results, signaling a potential turnaround, and setting the stage for a year of growth and opportunity.

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ASEAN

Prabowo Subianto Becomes Indonesian President

04/25/2024

On April 22, 2024, Indonesia’s General Election Commission officially declared Prabowo Subianto and Gibran Rakabuming Raka as the next president and vice president respectively.

Jump to ASEAN:
Country Guide Portal
Publications

China

Asia Transfer Pricing Brief: Q1 2024

04/26/2024

In our Asia Transfer Pricing Brief for Q1 2024, we introduce Indonesia's updated transfer pricing guidelines and highlight Singapore and Hong Kong's progress on implementing Pillar Two income inclusion rule and domestic top-up tax rule.

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India

Goods and Services Taxes in India 2024 - New Publication Out Now

04/28/2024

India Briefing discusses how the Goods and Services Tax regime works in India, applicable rates for 2024, and reporting obligations for businesses.

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Vietnam

UNDP Releases Vietnam PAPI 2023 Report: Progress on Anti-Corruption, E-Governance

04/28/2024

In the PAPI 2023 Rankings, Thua Thien-Hue Province in central Vietnam claimed the top spot among 63 localities with 46.04 points. Thai Nguyen and Bac Ninh Provinces secured second and third positions with 45.78 and 45.7 points, respectively.

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Middle East

Middle East Briefing

Spinneys and LuLu’s Public Offerings Pave the Way for Family-Owned Businesses

04/28/2024

Public offerings from Spinneys and LuLu Group are being hailed as game changers for the UAE market. Traditionally, IPOs in the UAE have been dominated by government utilities and private corporations.

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