Managers of Wealth Asia Pacific

Singapore’s latest tax targets super rich

“The new rule is targeted at the wealthy,” said Nicholas Mak, head of research at ERA.

Beneficial ownership transparency: how to fix a serious secrecy loophole in the automatic exchange system

This loophole works because the beneficial owner of an account is not always reported under the OECD’s standard (CRS) and is never reported by the US under the inter-governmental agreements related to the Foreign Account Tax Compliance Act

Making tax dispute resolution more effective

Andorra, Macau (China) and Tunisia ensure that MAP agreements can always be implemented notwithstanding domestic time limits.

Singapore Family Offices Set to Face Tighter Tax Incentive Rules

In addition, such family offices must have a minimum of two investment professionals with a 1-year grace period for hiring the second professional and minimum local business spending of S$200,000, subject to tiered criteria based on the assets under manag

Double taxation relief for Indian IT companies operating in Australia

Both the trade deal and changes to domestic Australian tax laws will come into effect once the Australian Parliament ratifies the deal after the general elections due in May are completed in Australia

Are Hong Kong tax incentives for family offices ‘too little, too late’? Some lawmakers think so

It maybe too late as Singapore has offered tax waivers since 2020, lawmaker for accountancy constituency says

Consultation paper released on proposed tax concession for single family offices

After taking the comments into consideration, a tax amendment bill will be introduced to the Legislative Council.

Hong Kong financial industry hails tax breaks for family offices

The budget is for Hong Kong’s fiscal year which begins on April 1.

Singapore plans a five-fold increase in carbon tax in 2024

The city-state is aiming to meet its zero-emissions target by 2050

China's top finance minister vows more fiscal support ahead of party congress

China should allocate the proceeds from special-purchase local government bond sales to ensure the construction of key projects, Liu said.

Singapore Punts on Wealth Tax

That doesn’t mean Singapore’s wealthy will walk on paying their share of the city-state’s growing needs.

KPMG records strong growth in FY21 in the Middle East & South Asia region

KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021

China’s taxpayers on edge as Beijing tightens oversight with big data and artificial intelligence

China’s Golden Tax IV system will harness big data and artificial intelligence to form a web of information on taxpayers

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.