09/15/2019
In a closely guarded move, notices were served on March 28, 2019 in the names of Mukesh Ambani’s wife Nita Ambani and their three children for their alleged “undisclosed foreign income and assets”.
08/19/2019
The department will use friendly language in its communications with taxpayers rather than intimidating, according to a source, amid allegations of intrusive, threatening and arbitrary behaviour by the department.
08/16/2019
The 10% tariff as currently proposed would apply to any such artworks originally created in China, regardless of the country of export
08/15/2019
More than 1.6m accounts identified in data shared with Australian authorities by 65 countries including tax havens
08/14/2019
Many of the SMSFs in the ATO's sights have limited recourse borrowing arrangements in place, with most of the almost 18,000 SMSFs holding most of their assets in property.
08/09/2019
The new agreement includes provisions to reduce multinational tax avoidance by incorporating base erosion and profit shifting measures, he added.
08/08/2019
The ATO has advised that it is unable to use client data to identify the numbers of Australian companies to the level of specificity or accuracy required to answer these questions
08/01/2019
Funds that use Cayman investment managers will be impacted
08/01/2019
Hong Kong hedge funds are particularly affected because they use Cayman investment managers, while offshore management companies have been less popular among European managers in recent years, according to Bloomberg.
07/30/2019
The African island nation is the main provider of foreign direct investment (FDI) to India and also the preferred jurisdiction for Indian outward investments into Africa.
07/25/2019
Addressing lawmakers last week, Sitharaman said FPIs could restructure their trusts as companies to avoid the surcharge.
07/17/2019
The Securities and Exchange Board of India, or SEBI, has always been suspicious of the source of capital for hedge funds investing in India from Singapore or Hong Kong
07/16/2019
In her budget, finance minister Nirmala Sitharaman proposed a tax increase of 3% for individuals with an annual income of of between Rs 2 and 5 crore, and 7% for those earning more those earning more than Rs 5 crore
07/16/2019
After the banking crisis, 10 countries suffered losses in excess of USD100 billion every year through tax evasion, according to 2011 data from the Tax Justice Network.
07/12/2019
The surcharge, popularly known as a "Robin Hood" tax, will help fund the government's development spending
07/07/2019
The new rate will include 25% surcharge on income between Rs 2 crore and Rs 5 crore, and 37% on income exceeding Rs 5 crore in a year
07/04/2019
Inheritance tax was abolished in 1985. But fearing its return, rich professionals and businessmen are flocking to tax consultants to set up trusts to avoid the tax.
06/20/2019
It's tax time again: time to start filling out the form or foisting figures and a bunch of receipts on your accountant.
06/11/2019
The prime minister is seeking to end Pakistan's rampant tax evasion as he secures a major IMF bailout.
06/10/2019
Officials expected to voice support for interest rate cuts