Managers of Wealth Asia Pacific

India's taxmen make a 'FORCE'ful argument for new taxes

With tax collections falling at an alarming speed due to the lockdown, India's taxmen made recommendations to quick fix the fast-depleting coffers.

Proactive Perspective – It’s what’s needed most

Taxpayers should make an appointment at least two working days before visiting the IRAS office and are advised to raise inquiries digitally through the IRAS’ live chat function, email, or phone.

Proactive Perspective – It’s what’s needed most

For the tax clearance returns that are originally due to be filed with the IRAS in April 2020, the IRAS has announced that the deadline is now extended for one additional month.

ERS can be drawn from multiple funds: ATO

"An individual cannot apply for a determination to release super under the coronavirus early access arrangements where the super amount is held by the ATO," the organisation said.

India seeks Ratul Puri, father's bank details; Switzerland issues notices

There was no immediate response by Puri and his group regarding the Swiss government notices, though they have been denying association with the scam or any other wrongdoing

New changes to India's tax residency rules: impact on wealthy families

With effect from April 1, 2020 the threshold for residence was supposed to go down to 120 days (from 182 days) and Indian citizens living in zero tax countries risked being deemed residents of India.

World Tax Advisor, featuring special COVID-19 section

These measures, which vary in magnitude and scope, are intended to mitigate the economic and fiscal effects on businesses and individuals.

Indonesia's tax office ready to go door-to-door

The tax office is encouraging taxpayers to file their SPTs online as it has suspended direct face-to-face services in compliance with the government's social distancing policy to help limit the spread of COVID-19.

Australian Tax Office cracks down on wealthy tax dodgers

ATO research shows a number of high wealth private groups are deliberately engaging in risky behaviour, including "seeking to engage in artificial and non-commercial arrangements that are intentionally designed to avoid paying tax".

ATO to focus attention on wealthy cheats

To ensure compliance at the top end, from July 1 the ATO will expand the work of the Tax Avoidance Taskforce and introduce a new program focusing on high wealth private groups.

Tax legislation enacted, including changes affecting Labuan entities

Labuan entities carrying on a Labuan business activity that is a Labuan trading activity generally are taxed at 3% of their net audited accounting profits

CFO Sentiment | Edition 8

Rising uncertainty is challenging Australian CFOs and impacting their confidence about the financial prospects of their businesses going forward.

Tax dodging: Indonesia's luxury car 'owners' cry foul

But instead, the employer registered his luxury car in Prayitno's name to dodge taxes.

Foreign nationals and the taxman

Certain tax obligations pertain to foreign nationals on home payment arrangements, whether partially or in full, and to those who come to the Philippines as short-term business travelers.

Global tax reform could raise as much as $100B, OECD says

The analysis shows that Pillar Two could raise a significant amount of additional tax revenues.

Reuters, KPMG Team For Aussie Business Taxes

KPMG’s Employment Tax Advisory group offers employment tax services to help clients manage compliance risks and reduce costs.

Indonesia plans to overhaul tax rules to attract investors

The Indonesian government has submitted a sweeping tax bill to parliament that proposes corporate tax cuts and seeks to make internet giants pay more taxes

Japan stakes out position in OECD-led international tax negotiations

It is, therefore, important to find a solution based on an international agreement without delay.

FDIs seen exceeding $10 billion if CITIRA passed

For this year, the central bank sees net FDI inflows recovering to $8.8 billion.

Australian clients to get 'scary' letters in tax crackdown on multinational

Clients of unnamed firm urged to cooperate with investigation spanning five countries