This content is from: United Kingdom UK election brings short-term tax certainty for businesses The Conservative government has won a shock majority in the UK election and many British businesses can expect short-term certainty, however fleeting over the direction of UK fiscal policy. By Josh White December 13 2019
This content is from: Transfer Pricing Minimum tax rate needs global blending, says FTSE 100 group The OECD’s pillar two proposal for a global minimum tax rate requires a worldwide blending approach to be enforceable and easy to administer, according to The 100 Group. By Josh White December 12 2019
This content is from: Direct Tax Taxpayers suggest consolidated statement tweaks to fit GloBE rules Tax professionals widely agree with the OECD on using consolidated financial statements to determine effective tax rates under the global anti-base erosion (GloBE) proposal under pillar two. By Danish Mehboob December 11 2019
This content is from: Direct Tax The US supports GloBE, but global taxpayers are hesitant The OECD’s global anti-base erosion (GloBE) proposal under pillar two is broader than taxpayers expected. It risks over-complicating international tax before the impact of the BEPS project settles in. By Danish Mehboob December 06 2019
This content is from: Direct Tax Japanese businesses seek clarity on new taxing rights Japanese companies have requested clear and simple approach towards new taxing rights and the consideration of loss-making in the OECD’s pillar one proposals. By Mattias Cruz Cano December 05 2019
This content is from: Direct Tax US-France DST tensions may spark wider EU trade war The US escalates trade tensions with France after threatening new tariffs following its investigation into the French digital services tax (DST). French officials said the EU is ready to retaliate. By Danish Mehboob December 03 2019
This content is from: Sponsored We need to talk about platforms: Ongoing tax challenges in China As policymakers in China and elsewhere inch towards a new global tax framework to deal with the challenges of digitalisation, many domestic tax law and administration issues are yet to be resolved for China’s digital ... By Conrad Turley & KPMG China & Sunny Leung December 03 2019
This content is from: Sponsored BEPS 2.0: What will it mean for China? Intensive work at international level to erect a new architecture for international tax rules by 2020 will have deep implications for businesses. Conrad Turley and Sunny Leung explore what this might mean for China’s ... By Conrad Turley & KPMG China & Sunny Leung December 03 2019
This content is from: Sponsored The age of reason(ableness): Economic shifts impact China’s cross-border tax enforcement In the context of a changing global trade and investment environment, and China’s economic slowdown, tax enforcement approaches are evolving and maturing. Chris Xing and Conrad Turley trace the latest trends. By Chris Xing & Conrad Turley & KPMG China December 03 2019
This content is from: Sponsored China double tax arrangements: New paths emerge The past year has seen a further evolution in China’s tax treaties, in particular in integrating impactful BEPS permanent establishment (PE) changes. The maturity of work on global tax reforms hints at more profound c... By Chris Xing & Conrad Turley & KPMG China December 03 2019
This content is from: Sponsored Going out: China outbound investment faces new tax challenges While global FDI levels sag and China ODI falls, Chinese investment in BRI jurisdictions continues to grow. However, a range of tax challenges face Chinese MNEs in BRI countries and other locations, write Michael Wong... By Joseph Tam & KPMG China & Michael Wong December 03 2019
This content is from: Sponsored China capital markets open up: New opportunities bring fresh tax challenges China’s capital markets continue to expand and open up, offering a range of innovative new investment channels. Henry Wong explores the tax challenges arising under each of these channels. By Henry Wong & KPMG China December 03 2019
This content is from: Sponsored IIT reform: Paving the future of personal income tax compliance in China In 2019, the major individual income tax (IIT) reform initiated in 2018 was reinforced with a string of clarifications. Chinese tax residents and foreigners with exposure to Chinese IIT are coming up to speed with the... By KPMG China & Michelle Zhou December 03 2019
This content is from: Sponsored Offshore economic substance laws: Implications for Hong Kong SAR’s funds sector The implementation of economic substance laws in offshore jurisdictions will impact funds with management and advisory teams in Hong Kong SAR. Darren Bowdern and Johnson Tee explain how these changes will prompt a rev... By Darren Bowdern & Johnson Tee & KPMG China December 03 2019
This content is from: Sponsored R&D tax incentives: Continuous encouragement and enhanced supervision China has continued to improve access to tax incentives and provide new regulatory support for innovation. At the same time, renewed rigour is being applied to ensure that tax incentives are claimed appropriately. Bin... By Bin Yang & KPMG China & Nicole Cao December 03 2019
This content is from: Sponsored No pain no gain: Tax challenges in the China M&A market This past year has seen heightened inbound M&A activity in hot sectors such as life sciences and logistics, just as the Chinese tax authorities apply more sophisticated enforcement approaches to M&A. Michael Wong, Chr... By Christopher Mak & KPMG China & Michael Wong & Stella Zhang December 03 2019
This content is from: Sponsored Checklist of hot China tax issues for MNEs in 2020 In 2020, taxpayers should be alert for the following China tax developments and trends. By KPMG China & Sunny Leung December 03 2019
This content is from: Sponsored China Looking Ahead: A changing global environment This edition of China – Looking Ahead comes at a precarious and symbolically charged time, with the 12-year Chinese zodiac cycle about to end and a new one about to begin. KPMG China’s Head of Tax Lewis Lu highlights ... By KPMG China & Lewis Lu December 03 2019
This content is from: Sponsored Editorial As the Chinese zodiac cycle moves into a new 12-year cycle, the changes across the tax landscape are transitioning in a similar fashion. By Anjana Haines December 03 2019
This content is from: Sponsored Managing China’s wealth: Rich pickings for foreign asset managers The steady growth of China’s middle class is increasing the demand for asset and wealth management services for domestic institutions and individuals. Henry Wong explores the commercial and tax implications of these d... By Henry Wong & KPMG China December 03 2019
This content is from: Sponsored Tax administration and compliance management: Steady progress follows reforms China merged its previously separate state and local tax authority systems in 2018. This has provided a basis for improvements in tax administration and services, and required taxpayers to adapt. Michael Li, Tracey Zh... By Fang Wei & KPMG China & Michael Li & Tracey Zhang December 03 2019
This content is from: Sponsored Bonded zones and free trade agreements: Optimising the trade environment In 2019, China has pushed reforms to customs supervision and expanded the role of bonded zones, further intensified its use of TP documentation for customs purposes, and sought to refresh key trade agreements. Eric Zh... By Eric Zhou & KPMG China & Rachel Tao December 03 2019
This content is from: Sponsored Adapting to a complex world: The evolution of Hong Kong SAR tax The Hong Kong SAR government has continued its international focus, introducing incentives to boost competitiveness while taking steps to address global tax avoidance, write Curtis Ng and Ivor Morris. By Curtis Ng & Ivor Morris & KPMG China December 03 2019
This content is from: Europe Countries address data mismatches in AEOI at the Global Forum Government officials found poor quality data from the automatic exchange of information (AEOI) and discussed implementation challenges at the OECD’s Global Forum. By Danish Mehboob December 02 2019
This content is from: Global Corporate transparency without context is simply data open to interpretation Greater transparency in corporate tax affairs needs to be backed up by effective communication strategies and governance frameworks if businesses are to avoid the risks that come with openness, says Sandy Markwick, he... By Sandy Markwick December 02 2019
This content is from: Direct Tax Japanese companies push for clear OECD definition of ‘consumer-facing businesses’ Japanese companies have called for the OECD to clarify what counts as a ‘consumer-facing business’ in its work on the taxation of the digital economy. By Mattias Cruz Cano December 02 2019
