ITR Search | International Tax Review

Advance rulings – a giant step for China

Tracy Zhang, William Zhang and Karmen Yeung advise that Chinese tax authorities are aiming to provide more enhanced taxpayer services, for example, guiding taxpayers to comply with regulations voluntarily, helping taxpayers manage risks and providing taxpayers with tailored assistance.

November 21 2012

Hong Kong’s revenue commissioner to appeal Nice Cheer Investment ruling

Hong Kong’s highest court will rule on the tax treatment of unrealised gains from trading investments after the Court of Appeal granted leave to the Inland Revenue Department (IRD) commissioner to appeal its decision in the Nice Cheer Investment case.

Joe Dalton, November 21 2012

New landscape of Chinese tax treaties

At an operational level, in contrast to China’s willingness to enter into new tax treaties, the PRC tax authorities have shown a clear propensity towards a more restrictive tax treaty interpretation and administration approach that, in practice, has served to limit foreign investors’ ability to access tax treaty benefits, explain Christopher Xing, Chris Ho and Roger Di.

November 21 2012

UK says no to son of FATCA but David Cameron puts tax evasion on G8’s agenda

The UK government may be eager to help financial institutions comply with the Foreign Tax Compliance Act (FATCA) but it has rejected a call to introduce its own version of the US law. At the same time, the UK said the G8, of which it is the president in 2013, would focus on tax evasion.

Ralph Cunningham, November 21 2012

Has the Vodafone decision in India made China change course?

Perhaps the most significant development in China’s corporate income tax (CIT) arena in recent years is the country’s adoption of general anti-avoidance rules (GAAR), advise Abe Zhao, Grace Xie and Jean Ngan Li. Their introduction indicates that China is taking firm action to rein in abusive tax planning behaviour that results in tax losses, and is bridging the gap with well-established international practices.

November 21 2012

New Hong Kong tax initiatives in the pipeline

The Hong Kong government and the Inland Revenue Department (IRD) have embarked on a series of initiatives aimed at enhancing Hong Kong’s status as an international financial centre. Ayesha Lau, Curtis Ng and John Timpany describe key recent developments including DTAs, Islamic finance, TIEAs and APAs.

November 21 2012

Firmer stance on transfer pricing enforcement

Chi Cheng, Irene Yan and Kelly Liao observe that some of the local tax jurisdictions within China where subsidiaries of foreign multinationals are concentrated, have seen their tax collections in 2012 drop by as much as 30%. Given this overall deterioration of the economic environment, will China continue to press ahead with its aggressive transfer pricing agenda?

November 21 2012

US unveils FATCA Model 2 agreement

The US has published the final template for inter-governmental agreements (IGA) with foreign jurisdictions to implement the Foreign Account Tax Compliance Act (FATCA).

Ralph Cunningham, November 21 2012

Property tax: Where does it go from here?

For years, some policy advisers have advocated the use of property tax as a mechanism to cool down the real estate market. Part of the rationale is that a greater amount of supply would help drive down the market price. But would it? Jennifer Weng, Tracy Zhang and Jean Jin Li examine the impact that tax will have on the property market in China.

November 21 2012

Will tax help save the Chinese environment?

Jean Ngan Li, Sunny Leung and Jessica Xie explain that Chinese government has introduced measures, including tax and financial incentives, to ensure that the breakneck economic growth in China can be sustained in the long-term and is not achieved by sacrificing the natural environment.

November 21 2012

Search results for