Taxation is a major tool for the central government of China to tackle the issue of increasingly heated property markets in China. It is likely that the central government will revamp the real estate tax regime in the coming years to make the taxation tool more effective. Property owners, developers and investors such as real estate funds will directly or indirectly be affected by the change, warn Lewis Lu, Chris Abbiss and Jennifer Weng of KPMG
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The firms made senior hires in Los Angeles and Cleveland respectively; in other news, South Korea reported an 11% rise in tax income, fuelled by a corporation tax boom
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