With China poised to complete its VAT roll-out in the second half of this year and India hoping to introduce GST in 2016, the next few years will see 2.5 billion people paying consumption tax more efficiently than ever before on the goods and services they are buying at an ever increasing rate. Meredith McBride tracks the shift from direct to indirect taxation in Asia.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year