Tax Alert, 28 August 2016

This issue covers the following changes to tax laws:

1. Changes to imposition of Withholding Tax: Tax is imposed on accrued payments as well.
2. Tax Ruling on GST treatment of imported goods: GST is to be charged on imported goods upon sale or transfer.
3. Key aspects of the Remittance Tax: A tax of 3% is to be introduced from 1 October 2016.
4. Exemption from land tax on the first purchase of flat: Land Act amended to facilitate the tax exemption.

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