Reports that the US Internal Revenue Service suspects Asian jurisdictions including Hong Kong and Singapore of making tax evasion easier has caused concern in the market, especially amid allegations that banks around the world have been helping clients evade tax. This concern has been heightened because under the terms of the Foreign Account Tax Compliance Act (FATCA), Hong Kong financial institutions are due to begin reporting to the IRS from March 31.
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MNEs are increasingly using algorithmic tools in TP. Sahasranshu Dash argues that data ethics should therefore plug directly into the TP design process
The sprawling legislation phases out Joe Biden-era green tax incentives for businesses; in other news, the UK will reportedly maintain its DST despite US pressure