The two highly competitive Asian financial hubs have announced their Budget plans for the 2015-16 fiscal year. Though frequently compared based on their size and attractiveness to global businesses, Hong Kong and Singapore’s respective Budgets conveyed disparate views on how best to attract foreign investment and stoke home-grown innovation through tax incentives.
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While the manual should be consulted for any questions around MAPs, the OECD’s Sriram Govind also emphasised that the guidance is ‘not a political commitment’
The landmark Indian Supreme Court judgment redefines GAAR, JAAR and treaty safeguards, rejects protections for indirect transfers and tightens conditions for Mauritius‑based investors claiming DTAA relief
As tax teams face pressure from complex rules and manual processes, adopting clear ownership, clean data and adaptable technology is essential, writes Russell Gammon, chief innovation officer at Tax Systems