10/31/2018
Labor plans crackdown on deductions for travel to tax havens
Anyone wanting to claim back costs of visiting a designated tax haven would have to convince the tax commissioner
Tax
10/30/2018
Applying for China’s DTA Benefits in Profit Repatriation
Other details in the DTA must also be satisfied to determine whether the applicant is qualified, and whether the applied benefits are eligible to be enjoyed.
10/29/2018
Big banks and hedge funds face tax hit to their offshore banking units
The cost of the OBU tax break to the government has risen to $325 million a year, up from $200 million in 2013-14 and $160 million in 2006-07, according to Treasury figures.
10/26/2018
New IBC regime approved to replace existing HQ regimes
The new regime will be called the International Business Center (IBC). The timeline for the repeal of the HQ regimes and the effective date of the IBC regime will be announced by the Ministry of Finance, working with the Council of State.
10/24/2018
Taxmen investigating hidden assets overseas; several high net worth individuals on radar
In a number of cases, notices have been issued to individuals or business entities to explain their transactions, the officials said.
10/24/2018
Chinese Film Companies Flee Desert Tax Haven
Official representatives of Khorgos and representative agencies were advocating the scheme.
10/22/2018
How Hongkongers working in mainland China can avoid global income tax
As long as they do not have a home or a family there, a 30-day trip from the country every five years could be enough to avoid the extra levy
10/21/2018
Papua New Guinea and OECD agree new 'Tax Inspectors Without Borders' partnership
The first deployment of Tax Inspectors Without Borders officials to Papua New Guinea is planned for early 2019.
10/15/2018
Japan tax watchdog obtains data on 400,000 overseas accounts
Citizens reported only around 9,000 foreign accounts in 2016
10/14/2018
Overview of tax law changes under new BEPS law
The Amendment Ordinance introduces rules for determining whether a person has a permanent establishment (PE) in Hong Kong (Schedule 17G).
10/12/2018
ATO switchboard numbers spoofed as scammers get more sophisticated
This number may appear on caller ID, be left on voice mail messages for call backs, or directed by *69 for call back functionality
10/08/2018
Tax havens refuse to cooperate with FBR
Pakistan is currently investigating data of three leaks about Pakistani offshore investments and — two leaks related to tax havens — Panama and Bahamas — which did not offer to share automatic information with Pakistan under the new tax
10/05/2018
Discussion paper released on taxation of digital economy
Australia is committed to working with other countries, through the G20 and the OECD, to develop sustainable, multilateral responses to address the challenges to our tax systems arising from digitalization.
10/04/2018
Tax Inspectors Without Borders making significant progress
Audits cover a cross-section of industry sectors including agriculture, construction, financial services, information technology and communications, hospitality, manufacturing and mining.
10/04/2018
Chinese superstar hit with $129m tax evasion fine
X-Men actress skewered over so-called ‘yin-yang’ contracts used to avoid paying tax
09/30/2018
Singapore, Mauritius fight for relevance after DTAA amendments in 2016
Some may move to Singapore from Mauritius as the former is looking to introduce regulations that could help funds better structure their pooling vehicles
09/17/2018
China’s new income tax laws to bring ‘profound implications’
In Mid-June this year, the Chinese Gpvernment announced changes to the country’s individual income tax laws, which will come into effect on January 1st, 2019.
09/13/2018
NTS to expand probe into offshore tax evasion
The agency has conducted audits twice this year to collect an additional 541 billion won.
09/09/2018
Expert: Joining CRS means a new era of tax transparency
The move is part of the Common Reporting Standards, or CRS – an international agreement on sharing tax information.
09/07/2018
How New Treaties Will Affect Corporate Taxes In Japan
This agreement will introduce various significant changes to many of Japan's bilateral