A new kind of thinking on tax compliance management is steadily emerging. The nascent Tax Compliance Agreement framework is premised on mutual trust between the tax authorities and taxpayers. Time will be required for the building up of such trust. But the first step in the right direction has been taken. Chris Ho, Karmen Yeung and Tracy Zhang of KPMG believe that these changes can have a big impact on the manner in which foreign corporations manage their tax compliance risk in China.
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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