Managers of Wealth Asia Pacific

When the ATO comes to help – dealing with the Next 5000 reviews

Advisers will receive notifications of client reviews around three months before the ATO starts the review process.

Property taxes are likely first stop for wealth tax review

Besides property, other options include reintroducing estate duty and following a model of taxation used in the cantons of Switzerland.

Hong Kong Stock Market’s Record Year Slams Into a Big Tax Increase

Hong Kong stock-exchange operator posts record annual profit, but shares fall after government unveils plan to raise taxes on share trading

OECD calls on countries to crack down on the professionals enabling tax and white collar crimes

White collar crimes like tax evasion, bribery and corruption are often hidden through complex legal structures and financial transactions facilitated by lawyers, notaries, accountants, financial institutions and other professional enablers.

IRAS publishes updated transfer pricing guidance for taxpayers affected by COVID-19

It was anticipated that the IRAS would provide a further update once OECDWorking Party No. 6 released its COVID-19 transfer pricing guidance.

Dixon: A cautionary case of U.S.-Australian tax issues

It demands more than just a pedantic understanding of civil and common laws, tax regimes, and treaties.

Accounting firms, professionals to get $8 million lifeline to cope with Covid-19 impact

Last year, ISCA rolled out a similar support package of $3.6 million for the accountancy sector.

Will Covid-19 kill your Hong Kong Offshore Company?

In their country of tax residence some Hong Kong Oshore Companies owners are declaring the opposite than what they are telling to Hong Kong tax authorities

Japan gets details on 2 million offshore accounts to combat tax evasion

The tax agency said it has already received information as of Jan15 on 2.19 million accounts in the year starting July.

Asset Management Update

Carried Interest 0% Tax Concession – Hong Kong

Hong Kong’s latest proposal for 0% carried interest tax on Private Equity Funds

This will be an enhancement and development for the private equity hub in Hong Kong

Asia Tax Bulletin - Winter 2020/21

We have also seen countries take measures to ensure related-party transactions comply with the arm’s-length principle

Govt creates special unit in I-T dept for probe into undisclosed foreign assets

The new units will also probe cases of Indian entities named in global tax document leaks like the Panama Papers

Cambodia-Malaysia double tax agreement now in effect

The DTA was signed in September 2019 between minister Aun Pornmoniroth and Malaysian Minister of Foreign Affairs Saifuddin Abdullah.

Punit Renjen: Deloitte will double India workforce in 3 years

The India-focus is not a new phenomenon.

Japan a hard sell for bankers when taxman can take half

Years of deflation have driven Tokyo rents way down since the go-go days when the land under the Imperial Palace was supposedly worth more than all of California.

Financial services' biggest tax bills revealed

Other institutions with significant tax bills include IC Markets ($144 million), UBS Australia ($51 million), Challenger ($46.5 million), J.P. Morgan Australia ($46 million), Perpetual at ($40 million) and WAM Capital ($24 million).

Advice associations join forces

The alliance will allow AIOFP members to join TSA's tax agent association, TAI Practitioners, which complies with the Tax Practitioners' Board requirements.

Global tax evasion costs US$427b per year

The only way to fund the long-term recovery is by making sure our tax authorities have the power and support they need to stop corporations and the mega rich from not paying their fair share.

Shipton's tax bill under scrutiny

Each procurement had a value of $25,000, bringing the total tax bill for Shipton to $75,000.