Managers of Wealth Asia Pacific

Cooperating with Indian authorities on Swiss a/c probe: HSBC

Facing a probe by Indian authorities into accounts held by Indians in Switzerland, global banking giant HSBC on Monday said it is cooperating with the authorities.

South Korea seeks to boost investment in foreign equities

South Korea is seeking to push through tax changes aimed at encouraging savers to invest in foreign assets

INDIA: New I-T norms require firms to make more disclosures on foreign income

Firms will have to disclose details about foreign bank accounts, immovable property, capital assets and financial interest in any entity even in cases where there is beneficial ownership

The Global Forum releases new compliance ratings on tax transparency

The Global Forum on Transparency and Exchange of Information for Tax Purposes published new peer review reports today for 12 countries or jurisdictions, moving further ahead with its goal to implement global standards on transparency and exchange of infor

CSIRO chief silent on tax haven

CSIRO chief executive Larry Marshall has refused to reveal the beneficiaries behind a Channel Islands trust he filled with technology company shares worth up to $7 million when they were sold in a series of off-market trades.

Westpac's wealth chief Brad Cooper says cut superannuation tax breaks for rich

He will argue that tax breaks on super needed to be limited.

Mauritius introduces new form for tax residency with more disclosure

FSC verifies these applications and recommends issue of the Mauritius tax residency certificate by the Mauritius revenue authorities.

HMRC rules out Australian pension tax exemption

Australians don’t want to expose themselves to HMRC.

HK offers tax sweetener in bid to attract PE managers

Market participants see more private equity investment professionals setting up shop in Hong Kong following the extension of a profits tax exemption late last week.

How NRIs can claim tax benefits under DTAA

Non resident Indians residing in any of the DTAA countries can avail of tax benefits provided under DTAA by timely submission of the following documents.

GAAR provision to make way into India-Mauritius treaty

Prime Minister Narendra Modi had in March assured Mauritius that while working to prevent treaty abuse, India would not do anything that would harm the island nation’s financial sector.

New Zealand, Samoa Sign DTA

The agreement provides that income from dividends will be taxed at a maximum rate of five percent

Big changes to India-Mauritius DTAA?

Mauritius’ former finance minister claims that his country has given up the right to tax capital gains.

Australia Warns MNCs Against Using Offshore Marketing Hubs To Reduce Tax Burden

This follows allegations that offshore subsidiaries are being used by MNCs to shift out profits for reducing their tax bills.

Philippines, U.S. sign deal to implement FATCA

The automatic reporting of financial accounts is premised on the appropriate safeguard measures to ensure confidentially of information

India, US sign FATCA to fight offshore tax evasion

Under the agreement, banks, mutual funds, insurance, pension and stock-broking firms will report their American client details to the tax department for sharing with the USA, said a finance ministry official, who declined to be named.

Declare overseas assets, will be difficult to hide, says Revenue Secretary Shaktikanta Das

Armed with automatic information exchange pact with the US, government today asked persons holding undisclosed offshore assets to declare them before September 30 as it would be difficult to hide unaccounted assets in future.

Australia warns global firms using offshore 'marketing hubs'

Some marketing hubs previously identified by the ATO include Singapore and Switzerland.

Tax free bonds worth Rs 40,000-cr to hit street this fiscal

Experts believe the bonds will attract investors though they expect the returns to be lower than what was offered in 2013-14

ATO warns multinationals over use of Singapore, Swiss and other offshore hubs

The Australian Taxation Office has warned companies it will be focusing on money attributed to offshore marketing hubs and will use its stronger transfer pricing powers to go after them.