Managers of Wealth Asia Pacific

Apex launches Australian tax services

Follows launch of corporate solutions via Throgmorton Australia.

Japan FSA and NTA's announcement regarding the tax treatment on carried interest distributed to SLPs

In their respective announcements, the Japan FSA and NTA sought to provide further guidance and clarity on the use of SLPs by Japan PMs in relation to the receipt and taxation of carried interest.

BoI approves B2.4bn in biotech incentives

Among them is Fruita Biomed Co, which received BoI approval for a project to produce Polyhydroxyalkanoate, or PHA, a bioplastic compound developed from organic waste.

Tax haven ranking shows countries setting global tax rules do most to help firms bend them

Leading economists and campaigners from around the world are calling for OECD tax rules to be superseded by a more robust and globally inclusive process at the United Nations

Tax agency launches probes into property-related tax evasion

The LH scandal erupted in early March after two civic groups accused 14 LH officials of allegedly using insider information to buy farmland in two satellite cites south of Seoul between April 2018 and June 2020

The Greens Want To Bring In A 6% Wealth Tax On Australian Billionaires

The wealth tax is one of several key policies the Greens are planning on taking to an election either this year or next under its Fight for the Future campaign.

Greens target super-rich with $40b billionaires’ wealth tax

The proposed billionaires’ tax would capture all the assets of a high net worth individual, including property, artwork, jewellery, cash on hand and shares

Tax agency launches probes into offshore tax evasion

The office suggested an alleged case of a local clothing firm owner hiding assets by establishing a family trust abroad.

LawFinance writes down goodwill and deferred tax assets

Directors are primarily responsible for the quality of an entity’s financial report.

Australia: Government to close down offshore banking regime

The bill amends Australia’s Offshore Banking Unit (OBU) regime to remove the concessional tax treatment for OBUs

Malaysia: Highlights of corporate tax measures in enacted Finance Act 2020

There were no material changes between the version of the bill that was passed in the House of Representatives on 16 November 2020 and the enacted version of the corresponding act.

Qatar, China sign protocol amending pact for avoidance of double taxation

The signing ceremony was attended Qatar Airways Group Chief Executive, H E Akbar Al Baker.

Individual Income Tax initiatives to attract foreign talent in South China

The new system came into effect on 1 January 2019, with the first application period successfully rolled out from July to August 2020.

Tax cuts and new budget to power Philippine growth

Monetary chief expects GDP growth to rebound to 6.5% in 2021 despite the government's stimulus being among the lowest in Asean

When the ATO comes to help – dealing with the Next 5000 reviews

Advisers will receive notifications of client reviews around three months before the ATO starts the review process.

Property taxes are likely first stop for wealth tax review

Besides property, other options include reintroducing estate duty and following a model of taxation used in the cantons of Switzerland.

Hong Kong Stock Market’s Record Year Slams Into a Big Tax Increase

Hong Kong stock-exchange operator posts record annual profit, but shares fall after government unveils plan to raise taxes on share trading

OECD calls on countries to crack down on the professionals enabling tax and white collar crimes

White collar crimes like tax evasion, bribery and corruption are often hidden through complex legal structures and financial transactions facilitated by lawyers, notaries, accountants, financial institutions and other professional enablers.

IRAS publishes updated transfer pricing guidance for taxpayers affected by COVID-19

It was anticipated that the IRAS would provide a further update once OECDWorking Party No. 6 released its COVID-19 transfer pricing guidance.

Dixon: A cautionary case of U.S.-Australian tax issues

It demands more than just a pedantic understanding of civil and common laws, tax regimes, and treaties.