Perhaps the most significant development in China’s corporate income tax (CIT) arena in recent years is the country’s adoption of general anti-avoidance rules (GAAR), advise Abe Zhao, Grace Xie and Jean Ngan Li. Their introduction indicates that China is taking firm action to rein in abusive tax planning behaviour that results in tax losses, and is bridging the gap with well-established international practices.
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Countries which care about fair taxation of tech multinationals and equitable global distribution of wealth should back the UN’s tax framework, writes economist Abdelmalek Riad
The cuts disproportionately affected staff in certain positions, the report also found; in other news, MHA announced the €24m acquisition of Baker Tilly South East Europe
Meanwhile, South Africa’s finance minister has accepted a court decision on suspending a VAT increase and US President Donald Trump mulls a 100% tariff on foreign films
Jaime Carey speaks about the benefits of his tax background, DEI values, the use of AI for a smarter legal practice, and other priorities that will define his presidency