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How to avoid a Mexican tax dispute

Greater tax administration scrutiny of supply-chain restructuring and a recent court ruling which threatens to change the litigation environment are big dispute concerns for Mexican taxpayers. Luis Carbajo-Martinez, of Baker & McKenzie, tells International Tax Review how taxpayers can reduce the risk of disputes in Mexico.

November 21 2012

Foreword

Khoonming Ho, Tax Partner in charge of China and Hong Kong SAR, KPMG

November 21 2012

Chinese Customs in uncertain times

Since the 2008 global financial crisis developed countries have been trying to repatriate manufacturing and labour-intensive industries in developing countries are facing mounting competition. Meanwhile, trade protectionism is regaining momentum in a number of jurisdictions. Lilly Li, Eric Zhou and Anthony Chau express the concern that these factors make it more complex to analyse and predict the trends of world trades.

November 21 2012

Road to a comprehensive IIT system

The State Council has indicated that a key mechanism of reforming the income distribution regime is to refine the Chinese individual income tax (IIT) system. Vincent Pang and Michelle Zhou examine how this will be done and look at the permanent establishment (PE) implications of cross-border secondment and implication of social security contributions for foreign employees and employers.

November 21 2012

Editorial

Welcome to the second edition of China – Looking Ahead, a series of articles published in association with KPMG.

November 21 2012

VAT reform – into the future

On January 1 2012, the Chinese government took a giant step forward in its plan to replace the dual system of indirect taxes in China, being Business Tax (BT) and Value Added Tax (VAT), with a single VAT across both the goods and services sectors. Lachlan Wolfers, John Wang and Shirley Shen envision how the process that started with the commencement of a pilot scheme in Shanghai will progressively expand across China.

November 21 2012

Financial services – the last frontier for VAT reform

Lewis Lu, Lachlan Wolfers and Christopher Abbiss agree that the future of China’s financial services industry is at a critical juncture with the proposed reforms of indirect taxes. The choices to be made will highlight whether the government favours international competitiveness and expansion of the sector over the maintenance of existing tax revenues.

November 21 2012

Ever challenging tax audit environment

David Ling, Eileen Sun and Bruce Xu discern future trends in tax audits from audit cases conducted in the past year and tax compliance measures to be rolled out in coming years.

November 21 2012

How the OECD can improve its consultation process in tax policy

The OECD held a public consultation on the transfer pricing drafts it released earlier in the year last week in Paris. Some participants felt that the OECD could consider improving aspects of how the discussions took place to facilitate a better outcome.

Sophie Ashley, November 20 2012

Valuation is biggest bugbear in OECD intangibles work

The OECD public consultation on its recently released drafts on transfer pricing, by Working Party No 6, concluded last Wednesday in Paris. Delegates and speakers give their interpretation of the two-and-a-half day discussion.

Sophie Ashley, November 20 2012

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