Managers of Wealth Asia Pacific

Malaysia achieves record direct tax collection

According to Lim's breakdown, revenue collected from income tax other than petroleum contributed RM116.953 billion or 85.35% of the total collection last year.

Trusts being used to avoid paying billions in tax, report warns ATO

One of the authors of the report, John Glover, a professor of law at RMIT, told the ABC that Australia was behind other countries when it came to the regulation of trusts.

Grant Thornton M’sia’s revenue grew 27% in FY18

The record turnover was the global firm’s highest growth rate in six years, driven by broad-based growth of 9.4% across the network.

Flouting laws, dozens of Nepalis invested in companies in tax haven nations

Former lawmaker Birendra Mahato and his brother Upendra Mahato, Nepali Congress member Rajendra Bajgain, controversial businessman Ajeya Raj Sumargi, Mercantile CEO Sanjib Raj Bhandari, Chaudhary Group MD Arun Kumar Chaudhary, Hotel Malla Chair Rama Malla

4 Chinese Tycoons Transfer $17B to Trusts as Taxes Loom

All of the four Hong Kong-listed companies but Sunac cited succession planning as the purpose of the transfers.

Four Chinese tycoons just transferred US$17 billion of their wealth to trusts as government toughens up tax regime

Sunac’s founder Sun Hongbin, Longfor’s Chairwoman Wu Yajun, and the magnates of Dali Foods and Zhou Hei Ya all transferred their wealth to trusts

China Injects Record Funds to Counter Tax, Holiday Cash Demand

The People’s Bank of China pumped in a net 560 billion yuan ($83 billion) into the financial system on Wednesday, the biggest one-day addition on record.

How IIT Law changes impact foreign individuals in China

China's tax regulations are tightening, but some preferential policies for non-Chinese tax residents will be kept and even added under the new law.

General tax amnesty: To avail or not to avail?

Prudence dictates that any decision to avail of the GTA should be based on a thorough and well-thought-out cost-benefit analysis.

Seoul to crack down on offshore tax evasion

Under the change, holders of, or those who have de facto control over an overseas financial account with 500 million won ($446,000) or more in countries with which Korea has no tax treaties, will no longer be able to avoid regular tax filings.

China’s rich brace for tax raid on $24 trillion wealth pile

Anxiety over how the new rules will be enforced has already triggered a flood of Chinese clients seeking to create overseas trusts.

Government steps up drive vs tax evasion, smuggling in 2018

The DOF said the BIR as of November has seized 5,227 mastercases of fake cigarettes bearing various brands and affixed with counterfeit tax stamps.

IIA takes a fresh look at risk management model

The first line of defense is management’s responsibility to effectively assess risks and to design and implement internal controls to mitigate those risks, according to Chambers.

New tax laws bring good news for foreigners in China

The current system holds that foreigners living in China for more than a year can leave every five years for a 30-day stint in order to avoid paying tax on offshore income.

Andersen Global Expands into Gurgaon

The addition in Gurgaon marks Nangia Advisors’ fifth location and continues their steady growth in India.

PwC Singapore seeks more tax breaks in Budget 2019 to spur startup scene

PwC also recommended liberalising the Angel Investors Tax Deduction scheme to make it easier for individual investors to qualify, thereby boosting the growth of tech startups.

China Exempts Mainland Investors from Tax on Hong Kong Funds

As of August, they have seen just CNY 10 billion (USD 1.45 billion) in net inflows from mainland investors.

Court order trips tax hounds in hunt for secret foreign assets

This provision in the law applies to income that was earned in India but on which no tax was paid.

HK plans to widen tax breaks for hedge, private equity funds

City aims to draw more of such funds, to compete with rivals

China's Rich Rush to Shelter $1 Trillion From New Taxes

The reforms, which take effect Jan. 1, are meant to reduce the tax burden on lower-and middle-income people by making the rich pay more.