Managers of Wealth Asia Pacific

China exempts profits on Shanghai-Hong Kong share link from tax

China will temporarily exempt taxes on profits made from a landmark scheme linking Shanghai and Hong Kong stock exchanges

India signs tax info exchange pact with Saint Kitts & Nevis

The agreement was signed by India’s Permanent Representative to the UN Asoke Kumar Mukerji, and his counterpart from Saint Kitts and Nevis Ambassador Delano Frank Bart at the Indian mission here.

Absence of treaties with tax havens blocking black money fight

Absence of criminal legal treaties between India and tax haven nations have been cited by probe agencies working in the SIT on black money as one of the major impediments in initiating steps to bring back illegal funds stashed abroad by Indians.

PAKISTAN: FBR Union sends proposals to Tax Reform Commission

The FBR Union has assured the TRC that Federal Board of Revenue can alone generate the amount equal to the federal budget. Resultantly, there will be no need to approach World Bank or IMF for monetary assistance.

Global tax crackdown could backfire

Under existing rules, a company requires a permanent establishment or physical presence in a country for profits to be taxable there

AUSTRALIA: Investors urged to disclose offshore assets

The Australian Taxation Office (ATO) has once again reminded investors to voluntarily disclose offshore assets or income under Project DO IT before the December 19 deadline.

G20 committed to global response to deal with cross border tax evasion: India

An action plan to tackle BEPS to make sure companies pay their fair share of tax is expected to be finalized in 2015

Future Fund caught in tax haven leaked-document scandal

In 2009, the then-Minister for Finance Lindsay Tanner spoke at the National Press Club on the topic of Australia's Future Fund.

Black Money – Will Agreement with USA help?

Regulatory oversight allowed illicit money transactions in our financial markets.

Mauritius assures help to India in Special Investigation Team's black money probe

Mauritius, often accused of being a route for round-tripping of funds by Indians, today conveyed to Indian government that it was ready to support its Special Investigation Team ( SIT) to unearth black money.

Singapore says will adopt OECD pact to tackle tax cheats by 2018

Singapore will implement a global agreement on swapping tax information, aimed at ending offshore tax evasion, by 2018, provided certain conditions are met

I-T Dept. tracks 532 HSBC account holders

As they had stayed in India beyond 180 days for three successive years, during the relevant period. In such cases, the Department has decided to complete appropriate action within a month, “without exception.”

Labuan not fully exempted from GST

Labuan, which enjoys duty free status, will not be fully exempted from implementation of the Goods and Services Tax in April next year.

India cites domestic reasons for not signing global tax information pact

Finance minister Arun Jaitley has written to his German counterpart expressing India's support for the new global protocol for automatic exchange of information on tax evaders but cited domestic procedural requirements as the reason for not signing i

Black money case fallout: India pulls out of multilateral information sharing agreement

Government sources said that India was unable to sign the pact as there was uncertainty about disclosures and lack of clarity

Major new steps to boost international cooperation against tax evasion - OECD

A status report on committed and not committed jurisdictions will be presented to G20 leaders during their annual summit in Brisbane, Australia on November 15-16.

PAKISTAN: $200b recovery from Swiss banks

A well placed source at Finance Ministry Wednesday disclosed to this scribe that a two-member delegation comprising Ex-Chief International Taxes Ashfaq Ahmad, grade 20 officer, and Secretary International Taxes Sajida Kausar, grade-18 officer visited Swit

Bank-Data Sharing Accord Expands Push to Find Tax Cheats

The accord to be signed by finance ministers in Berlin today signals global determination by governments to capture tax revenue after the U.S. pursued banks such as Credit Suisse for helping Americans cheat on their taxes and German authorities bought CDs

Narendra Modi Government Submits 'Black Money' List With Over 600 Names To Top Indian Court

Several activists have alleged that the income derived from India’s flourishing black money economy is used to fund election campaigns of a number of politicians.

Switzerland, India Differ On Bank Account Disclosures

A Swiss official says there is a disagreement with the Indian government as to 'what exactly will have to be disclosed'