Managers of Wealth Asia Pacific

Why a capital gains tax isn't the answer for small businesses

Once a property is built it seldom employs anyone, doesn't grow the economy or generate a return for anyone other than the owner (and the bank which lent them the money).

Tax service is focused on rich to help fair economy

The NTS said one of the focuses of its investigations will be tax evasion, including the running of affiliates under the names of others and the unfair awarding of contracts to subsidiaries.

S.Korea's tax agency to intensify probe into companies' tax evasion

The agency would also concentrate on collecting the high amount of unpaid tax from rich people.

KOREA: Overseas tax evaders face intense audits

Under the initiative led by the OECD, over 100 countries and jurisdictions are collaborating to implement measures to tackle this issue.

Plan to collect tax on offshore assets

Now the tax demands could be generated once this was approved by parliament

Commentary on Implementation of new Individual Income Tax Law Regulation in China

The news of a possible “Expatriation Tax” in China caused significant debate as well as panic among the HNWIs interested in emigrating or who had already emigrated overseas.

Tax Planning: Offshore account holders should come clean with the taxman

Take the British Virgin Islands, which is a tax-free jurisdiction.

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.