Managers of Wealth Asia Pacific

How Hong Kong’s Taxes Spawned Billionaires and Bred Inequality

How Hong Kong’s Sky-High Home Prices Feed the Unrest: QuickTake

Over 130,000 high net-worth individuals served tax notices

The incumbent government has been successful in broadening the tax base during the its first year in the office, as data showed that around 783,039 new taxpayers filed returns with the tax department as a result of various schemes, including a tax amnesty

ANZ Bank to take A$559m hit from increased customer remediation provisions

The bank had already put aside A$928 million before tax to address remediation costs following the sector-wide abuses exposed by the Hayne Royal Commission.

Japan consumers cautious on spending despite expected limited drag from sales tax increase

The impact of the tax increase on consumer spending is important because private consumption accounts for 60 per cent of Japan’s gross domestic product

South Korea strengthening taxation of YouTubers

The government is moving to strengthen taxation of high-income influencers and content creators on social networking services, including YouTubers, to prevent tax evasion, according to documents submitted to lawmakers on Monday.

Philippines Closes First Gambling Operator for Tax Evasion

Company found without VAT registration and in breach of country’s tax code

The ‘Panama Papers’ drew shady tax dealings into the light – but nothing has changed since

The Paradise Papers consist of 13.4 million pages that reveal the global rich avoiding tax payments by using offshore tax havens and secrecy jurisdictions.

Chinese billionaire hid $170m from the ATO

The ATO said this was nearly twice the amount Mr Huang had transferred out of Australia the previous year.

Income Tax serves notices to Reliance First Family under Black Money Act

In a closely guarded move, notices were served on March 28, 2019 in the names of Mukesh Ambani’s wife Nita Ambani and their three children for their alleged “undisclosed foreign income and assets”.

I-T department to adopt ''taxpayer friendly'' approach

The department will use friendly language in its communications with taxpayers rather than intimidating, according to a source, amid allegations of intrusive, threatening and arbitrary behaviour by the department.

Tariffs on Chinese-Origin Art and Antiques Set to Come into Effect on September 1

The 10% tariff as currently proposed would apply to any such artworks originally created in China, regardless of the country of export

New tax data reveals Australians hold $100bn in offshore accounts

More than 1.6m accounts identified in data shared with Australian authorities by 65 countries including tax havens

ATO warns of SMSF concentration risk

Many of the SMSFs in the ATO's sights have limited recourse borrowing arrangements in place, with most of the almost 18,000 SMSFs holding most of their assets in property.

New Zealand-Swiss tax agreement tightens net on avoidance

The new agreement includes provisions to reduce multinational tax avoidance by incorporating base erosion and profit shifting measures, he added.

Rex Patrick wants Cayman links disclosed

The ATO has advised that it is unable to use client data to identify the numbers of Australian companies to the level of specificity or accuracy required to answer these questions

Tax Haven Crackdown Catches Asia Hedge Funds in Its Crosshairs

Funds that use Cayman investment managers will be impacted

Hong Kong Hedge Funds Caught in Tax Haven Clampdown

Hong Kong hedge funds are particularly affected because they use Cayman investment managers, while offshore management companies have been less popular among European managers in recent years, according to Bloomberg.

Indian firms tapped Mauritius to save on taxes

The African island nation is the main provider of foreign direct investment (FDI) to India and also the preferred jurisdiction for Indian outward investments into Africa.

Foreign investors pull out $1 billion from India amid fears of super-rich tax

Addressing lawmakers last week, Sitharaman said FPIs could restructure their trusts as companies to avoid the surcharge.

Higher taxes threaten India’s fledgling hedge funds

The Securities and Exchange Board of India, or SEBI, has always been suspicious of the source of capital for hedge funds investing in India from Singapore or Hong Kong