Managers of Wealth Asia Pacific

China’s expat tax system: who pays and how does it work?

Chinese law stipulates that individuals who are domiciled in the mainland, or live in the country for a total of 183 days in a tax year, will be categorised as tax residents.

Down to brass tax

A better functioning international tax system is in everyone’s interest.

KPMG Records Strong Growth in FY21

The aggregate revenue of KPMG member firms in the Middle East & South Asia region grew by 7.8% in US dollar terms for FY21

PHILIPPINES: Government urged to tighten tax watch on private sector

The Department of Finance, for its part, warned that investors may be provoked to avoid taxes and, worse, leave the Philippines due to a tax regime that punishes wealth.

Thailand: Country-by-country reporting rules specify persons that are required to file reports

There are still a number of actions required by the Thai Revenue Department to fully implement the CbC reporting obligation

Australia: Corporate collective investment vehicles tax and regulatory framework introduced

The key policy objective of this CCIV measure is to increase the competitiveness of Australia’s managed fund industry through the introduction of an internationally recognizable investment structure.

The Big Read: As global clamour grows again to tax the rich more, Singapore weighs up the pros and cons

The International Monetary Fund earlier this year called for a wealth tax to compel the rich to pony up for Covid-19 costs.

Taiwan's taxation pact with Saudi Arabia takes effect

The agreement is the 34th taxation pact Taiwan has signed with another country, according to the MOF.

Malaysia: Changes made to service tax treatment of certain directors’ fees and allowances

Apart from the changes related to payments to NEDs, the updated professional services guide reflects a minor update regarding management services to add in regulatory exclusions from the category of taxable services that entered into effect on 1 September

Swiss Bank Tax Evasion Case Highlights Singapore's Gaps

This raises questions about how effectively the city-state fights financial crime.

Should we tax the rich in Singapore? Two wealth managers comment

Youssry Henien and Rohit Ganguli discuss the implications of Singapore's proposed wealth tax.

Singapore Is Said to Canvass Wealth Circles on Tax Ideas

The discussions took place through official feedback sessions as well as unofficial meetings over meals, they said.

S. Korea’s tax chief seeks cooperation with Denmark, Hungary

Hungary is the first Eastern European country to form a trading partnership with Korea.

Singapore bullish about impact of international tax changes

The GloBE regime forms the second of a two ‘pillar’ international tax agreement reached by 130 countries in June. BEPS 2.0, as it has become know, has since been endorsed by the G20.

Real estate wealth tax and Singapore's property cooling measures

If such a wealth tax must be implemented, some cooling measures may have to be rolled back too

Why China Could Be Serious About a Property Tax Now

China has been targeting the property sector with new restraints

MAS Chief Menon Says Wealth Tax May Be Needed in Singapore: ST

To encourage an inclusive society, it may make sense to shift the balance in the country’s tax structure away from taxing income toward taxing wealth, the publication reported Menon as saying at an Institute of Policy Studies lecture.

Grant Thornton launches CFO advisory service in Australia

Kicking off his career with EY in London in 1999, Barnikel six years later relocated to the Big Four firm’s Sydney office, where he steadily rose the ranks before being promoted to partner in 2016.

Tax agency launches probes into offshore tax evasion

The agency said it is looking into people who opened secret offshore accounts to conceal illegally earned money, and companies which evaded taxes by using fintech and other online trading platforms.

Global tax overhaul backed by 130 countries

All G20 countries, such as the US, UK China and France, did back the agreement.