In this issue, we have included: 

 Australia

• Australian federal budget update: Tax change to attract capital from overseas investors

China

• China new VAT rates and rules: Impact to real estate and construction industry

• China releases Five-year Plan for financial reform

• AMAC issues administrative rules on distribution of private funds

Hong Kong

• SFC issues circular on timetable for implementation of new professional investor regime

Japan

• The impact of recent amendments to the Article 63 exemption on partnership-type funds in Japan

Korea

• New legislation mandatory strengthened corporate governance standards on financial companies

Singapore

• MAS announces initiatives to boost fund management industry

Global

• New margin requirements for transactions in uncleared derivatives will affect real estate, infrastructure, private equity and microfinance fund managers in Asia

Lastly, we would like to thank our working group who helped putting together the Newsletter.

For details of this working group, please click here