ITR Search | International Tax Review

Lack of transfer pricing rules leads to questionable audits in Hong Kong

Despite a self-touted reputation as a leading global financial centre, Hong Kong’s Inland Revenue Department (IRD) has been criticised by tax practitioners for overly aggressive audits on asset managers. Hong Kong has limited transfer pricing legislation and often seeks to enforce arm’s-length pricing through practice notes and a network of tax treaties.

Meredith McBride, January 08 2015

McKesson saga continues with new filing by taxpayer

McKesson has filed a supplementary memorandum of fact and law after the Court of Appeal deemed its initial memorandum too lengthy. The controversial transfer pricing case, involving a trial judge’s recusal, appears unlikely to come to a conclusion anytime soon.

Sophie Harding, January 08 2015

EU Parliament and Council agree on beneficial ownership registers

EU Parliament and Council negotiators have agreed a draft directive which would introduce beneficial ownership registers in Europe for the first time.

Joe Stanley-Smith, January 07 2015

Indian CBDT launches new dispute resolution framework to silence critics

The Central Board of Direct Taxes (CBDT) in India has introduced a new dispute resolution framework in an attempt to bring greater neutrality to tax dispute resolution and encourage multinationals to do more business in the country.

Sophie Harding, January 07 2015

New year tax promotion at Schulte Roth & Zabel

Noah Beck has been promoted to tax partner at Schulte Roth & Zabel, as one of six new year promotions at the firm.

Joe Stanley-Smith, January 06 2015

Ryan buys Taxaccord

Ryan, a leading global tax services firm with the largest indirect and property tax practices in North America, has bought Taxaccord, a tax automation services firm.

January 06 2015

GST tabled in India’s Parliament; alcohol, oil temporarily excluded

After eight years, the much-hyped constitutional amendment facilitating goods and services tax (GST) arrived in India’s Lower House of Parliament, just two days before the winter session closed.

January 06 2015

Gowlings’ Tim Wach appointed as Taxand’s global managing director

Taxand has announced that Tim Wach will fill the newly-created role of global managing director.

Joe Stanley-Smith, January 06 2015

5% commercial tax hasn’t dented investment into Myanmar

The extension of Myanmar’s 5% commercial tax on previously exempt industries, which came into effect on April 1 2014, primarily applies to large and foreign corporations. Tax and industry professionals are generally positive about the changing tax regime, which augurs well for Myanmar as it attempts to create a competitive economy for foreign direct investment (FDI).

January 06 2015

White & Case hires Lebovitz and Weerts for its Los Angeles office

White & Case has employed two new partners, Michael Lebovitz and Stephen Weerts, in its Los Angeles office. The pair join from DLA Piper.

Joe Stanley-Smith, January 06 2015

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