Search results for

Chinapat Visuttipat of HNP Counsel – Taxand, explores the planned introduction of real estate investment trusts (REITs) legislation in Thailand, looking at how it will work in practice, how it compares with other regimes in the region, and how it will impact the property market.

Singapore is a strategic centre for businesses hoping to grow their presence in Asia. Chiu Wu Hong and Harvey Koenig, tax partners at KPMG in Singapore, explore the jurisdiction's tax regime to see what makes Singapore an optimum investment gateway for Asia, including what marks it out as a holding company or headquarter location compared with other locations in the region

Read this month's special features on Brazil and Asia.

Hans Rudolf Habermacher

Under Australia’s self assessment tax system, effective tax risk management is critical in minimising the likelihood of a tax audit and maximising the chances of a favourable outcome from the ensuing investigation. Paul Sokolowski and Clint Harding, of Arnold Bloch Leibler, explain how taxpayers should manage an Australian Taxation Office (ATO) audit to give themselves the best chance of a positive outcome.

Dorina Asllani Ndreka, Eurofast Global Taxpayers in Albania have the right of appeal to: a tax assessment notice; decisions that affect the taxpayer's obligation on any claim for refund or tax relief; or to any special tax act connected with the taxpayer's activity. According to tax laws, the tax appeal is held in two legal dimensions, administrative and judicial, which constitute two separate links of the same legal process. Article 106 of Law no.9920, dated May 19 2008 ("On tax procedures"), provides the situation which constitutes grounds for appeal and the competent authority to whom the appeal must be filed initially. The appeal is submitted in writing to the Directorate of Tax Appeals, within 30 days from the date of the relevant administrative act.

Clint O’Connell When hiring labour in Cambodia, it is essential to know what kind of relationship exists from a tax perspective. Importantly, the General Department of Taxation (GDT) will not base its view simply on the contract or agreement in place, but on the actual facts of the matter. The method and rate of taxation varies for employees and independent contractors – employees will be subject to Tax on Salary (TOS), whereas contractor's fees will be subject to withholding tax. A resident will be subject to monthly deductions of tax withheld from salaries received from both Cambodian and foreign sources (in practice only Cambodian sourced salary can be declared). TOS rates are progressive, ending with a top marginal rate of 20% of the taxable base (see Table 1).

Nélio B Weiss

Donka Pechilkova According to a decision of the Sofia City Court, effectively from June 17 2013, a total of 22 sites for sports betting are forbidden by the State Gambling Committee. The reason is that they do not have the licence required by the Law on Gambling that entered into force last year. Among the online portals are the biggest betting sites in the world. The number of the blocked websites increases every two weeks, due to the new alternative websites that open daily. Officially the amendments, referring to hundreds of millions of leva and are not only connected with betting via the internet, but imposes an unprecedented censorship on the internet, comparable with that of countries like North Korea, China, Iran, Iraq, Syria and others.

The United Nations (UN) has released the final version of the Practical Manual on Transfer Pricing for Developing Countries (the UN Manual). Vatika Bhatnagar, of Airtel India Limited, examines the Manual’s India chapter, which covers the key issues faced by taxpayers in the country.